Worldwide: International Trade & Investment

Global reliance on critical minerals for emerging technologies has created a competition between nations to secure reliable supply chains for continued innovation pertinent to national security. This is necessary from a national security perspective for both partners in this agreement.

Topline summary: On June 1, 2026, President Trump amended the Section 232 tariff framework for aluminum, steel, and copper. Importers of agricultural, industrial, and mobile equipment may qualify for temporarily reduced rates of 10–15%, while certain furniture parts, lithographic plates, and steel racks are newly dutiable for the first time. With a December 31, 2027, sunset on all temporary reductions, importers should audit their HTS classifications now to avoid overpaying or underpaying.

Walmart has been in China for about 30 years, entering the market in 1996 when it opened its first Walmart hypermarket and Sam's Club in Shenzhen. There are now 342 retail stores, 279 Walmart Supercenters, and 63 Sam's Clubs in China, as of January 31, 2026. The road to success has been somewhat rough through the years as Walmart has had multiple recurring run-ins with the Chinese government.