On the U.S. side regarding China: It has threatened to raise the total tariff on Chinese goods to 155% starting November 1, while stating that the additional 100% tariff is “unsustainable” and expressing optimism about reaching a “fair trade agreement” through the APEC summit and subsequent visits to China. Additionally, it is promoting the “Ukraine Victory Tariff” targeting China’s oil imports from Russia and planning to expand software export controls.

Regarding Canada: The U.S. announced the termination of all trade negotiations with Canada due to the anti-tariff advertisement funded by the Canadian province of Ontario.

Regarding India: The U.S. intends to reduce the 50% tariff on Indian goods imported into the U.S. to 15%-16% and plans to extend the tariff relief measures for auto parts by five years.

For its part, China has begun imposing a special port fee on U.S.-related ships.

In Europe, the UK announced its intention to cancel the duty-free policy for small parcels to plug tax loopholes, while the U.S. and Europe simultaneously announced a new round of sanctions against Russian oil companies.