Global Trade Weekly — 2026-04-29
China's commerce minister declared a "soft landing" with the EU over electric vehicle tariffs on April 28, as Brussels also adopted its 20th package of Russia sanctions. Meanwhile, the U.S. Department of Commerce added a new duty-free tariff code for Section 232 goods containing no aluminum, steel, or copper — a technical but consequential update for importers navigating America's sprawling metals tariff architecture.
Global Trade Weekly — 2026-04-29
Top Stories
1. China–EU Reach "Soft Landing" on Electric Vehicle Tariff Dispute
China's commerce minister announced on April 28 that Beijing and Brussels have reached a "soft landing" in their prolonged dispute over EU tariffs on Chinese-made electric vehicles. The minister made the announcement while meeting with the head of a major German automakers' group, simultaneously urging the EU to respect WTO rules. The development signals a possible de-escalation after months of tension, with significant implications for European automakers that rely heavily on China both as a manufacturing base and as a key export market.
Market implications: German and French automakers with supply chains straddling both blocs stand to benefit most from reduced trade friction. However, the WTO-compliance caveat suggests the path forward will require formal renegotiation of tariff schedules, and the "soft landing" framing stops well short of a full agreement.
2. EU Adopts Its 20th Russia Sanctions Package
After a prolonged internal political deadlock, the European Union formally adopted its 20th package of sanctions connected to Russia's ongoing war against Ukraine, according to a report published April 28. The package resolves a months-long impasse among EU member states.
Market implications: The new package is expected to tighten restrictions on Russian energy exports, dual-use goods, and financial intermediaries. European businesses with residual Russian supply chain exposure face fresh compliance deadlines. Third-country jurisdictions — particularly in the Gulf, Central Asia, and South Asia — that have served as re-export hubs for sanctioned goods will also face heightened scrutiny.
3. Commerce Adds Duty-Free Code for Section 232 Goods With No Aluminum, Steel, or Copper
On April 27, 2026, the U.S. Department of Commerce published a Federal Register notice adding a duty-free Harmonized Tariff Schedule code specifically for Section 232 goods that contain no aluminum, steel, or copper. The move provides a formal classification pathway for manufacturers and importers who have struggled to prove their products fall outside the scope of the broad metals tariffs.
Market implications: Importers in sectors such as plastics, composites, and advanced electronics — who previously faced uncertainty when filing entries — can now use the new duty-free code to affirmatively declare non-covered goods. This reduces both compliance risk and the potential for costly customs disputes. Trade attorneys are already advising clients to review pending and future entries.
4. Pro-Tariff Industry Groups Push Expanded Section 301 Investigations
Steel, solar, and domestic manufacturing lobby groups are pressing the Trump administration for more expansive trade curbs at hearings this week, as part of ongoing Section 301 investigations. The groups are urging the administration to broaden the scope of existing tariffs, targeting a wider range of imported goods from countries deemed to engage in unfair trade practices.
Market implications: If the administration acts on these recommendations, downstream industries — including construction, consumer electronics, and clean energy installers — could face higher input costs. The hearings also signal that the tariff agenda is far from settled, adding continued uncertainty for supply chain planners.
Tariff & Sanctions Tracker
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EU → Russia | Broad sanctions package covering energy, dual-use goods, and financial intermediaries | Effective: April 2026 (20th package adopted April 28, 2026)
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USA → All countries (Section 232) | New duty-free HTS code published for Section 232-subject goods verified to contain no aluminum, steel, or copper | Effective: April 27, 2026
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EU → China (EVs) | Existing EV tariffs under negotiation; China–EU "soft landing" announced April 28, 2026 — formal tariff adjustments pending WTO-compliant resolution | Status: Active negotiation, no formal rate change yet
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USA (Section 301) | Steel, solar, and manufacturing groups urging expanded tariffs at Section 301 review hearings this week | Status: Under review, no implementation date set
By the Numbers
No recent (post-April 27) verified data releases on trade volumes, shipping indices, or commodity prices were available in this week's research results. The following figures are sourced from verified articles published within the coverage window:
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"Soft landing" framing: China's commerce minister used the term April 28 to describe progress on EU EV tariff talks — the first senior-level public acknowledgment of a negotiated off-ramp.
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20th sanctions package: The EU has now issued twenty successive rounds of Russia sanctions since February 2022, with the latest resolving a prolonged internal political deadlock.
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IEEPA & trade law convergence: Legal analysts at Clark Hill PLC note that U.S. trade law instruments — including IEEPA and Section 232 — are now routinely deployed to achieve industrial policy and national security goals that extend well beyond traditional trade concerns.
Regional Spotlight
India–New Zealand Free Trade Agreement: A Quiet Win for Asia-Pacific Commerce
On April 27, 2026, India and New Zealand signed a free trade agreement (FTA) that lowers tariffs on key agricultural imports — including kiwifruit and apples — expands market access for Indian exports, and eases visa conditions between the two countries.
Why it matters globally: The deal is notable for several reasons. First, it comes at a time when India is actively diversifying its trade relationships — reducing dependence on any single partner — as the global tariff environment grows more unpredictable. Second, New Zealand has now secured FTA access to one of the world's largest and fastest-growing consumer markets, giving its agricultural exporters a significant competitive edge over rivals from Australia and the United States, which lack equivalent bilateral agreements with India. Third, the visa component of the deal signals that trade agreements in the 2020s increasingly bundle goods, services, and labor mobility together — a template that other South and Southeast Asian economies are watching closely. For global supply chains, the pact represents a modest but meaningful expansion of rule-based trade architecture at a moment when multilateral systems face significant headwinds.
What to Watch Next Week
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China–EU EV tariff negotiations — The "soft landing" announced April 28 sets up intensive technical-level talks. Watch for whether Brussels convenes a formal trade committee session with Beijing, and whether any interim tariff adjustments are published in the EU Official Journal. Stakes: billions in annual EV trade and the long-term competitiveness of European automakers.
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U.S. Section 301 hearing outcomes — The week of April 27 hearings on expanded Section 301 investigations are expected to conclude, with the U.S. Trade Representative's office due to summarize industry testimony. Any formal proposal to widen tariff coverage could trigger retaliatory consultations from trading partners including China, the EU, and Vietnam.
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Russia sanctions implementation — Following the EU's adoption of its 20th sanctions package, member states have approximately one week to transpose new restrictions into national law. Watch for enforcement actions against specific vessels, entities, or financial institutions named in the package.
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India–New Zealand FTA ratification process — The April 27 signing begins the formal domestic ratification process in both countries. Parliamentary timelines in New Zealand and India's legislative calendar will determine when the agreement enters into force — and when exporters can begin claiming preferential tariff rates.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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