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World Trade Online

This Week In Trade

The Democratic Convention takes center stage this week in Philadelphia and trade could be an unexpectedly unifying topic for the Democrats as newly picked vice presidential candidate Sen. Tim Kaine (D-VA) -- like his running mate -- took a swift 180-degree pivot to come out against the Trans-Pacific Partnership.

IN TRADE

Peruvian Prime Minister Pedro Cateriano called the move a “major step in our development.”

Mon, 4:36 PM

White House Press Secretary Josh Earnest: “I'll let Senator Kaine discusses his position on the Trans-Pacific Partnership.”

Mon, 3:59 PM

Canada and paper, Vietnam and shrimp, the U.S. and the EU on regulatory cooperation, and more.

Mon, 12:58 PM

“The TFAC shall develop recommendations on programs or activities that Commerce could incorporate as part of its export promotion and trade finance education efforts.”

Mon, 11:05 AM

“If it did, it would fail,” the Ways & Means ranking member said of TPP while blasting Trump and his “congressional supporters.”

Mon, 9:48 AM

Some legal experts are skeptical that the Commerce Department has authority to determine if a company may import raw sugar from Mexico based on the end-use of the sugar, throwing into question whether the department's proposed modification to the sugar suspension agreements is legally sustainable.

The Obama administration has issued an executive order spelling out responsibilities and authority across federal departments and offices on addressing currency manipulation under the Trade Facilitation and Trade Enforcement Act of 2015, also known as the customs bill.

The final Democratic Party platform does not mention discrepancies within the Democratic Party on the Trans-Pacific Partnership that were laid out in a July 1 draft platform, and falls short of taking an official stance on the deal.

Various members of the World Trade Organization have put forward a series of proposals aimed at cutting domestic support, but these proposals do not appear to address the overarching problems plaguing the negotiations, namely that the United States and China cannot agree on what cuts the other should make to its domestic support programs.

A series of proposals forwarded last month by Canada to share and spread best practices in dispute settlement at the World Trade Organization gained some support leading up to a July 21 Dispute Settlement Body meeting, but lacked signatures from major dispute settlement players such as the United States and China.

Australia's ambassador to the U.S., Joe Hockey, at the Republican National Convention this week said he had discussions with a key member of Congress on finding a path for a lame-duck vote on the Trans-Pacific Partnership, while casting doubt on the prospects for TPP if it isn't done this year.

Around the World

World Trade Organization
  • Various members of the World Trade Organization have put forward a series of proposals aimed at cutting domestic support, but these proposals do not appear to address the overarching problems plaguing the negotiations, namely that the United States and China cannot agree on what cuts the other should make to its domestic support programs.

  • A series of proposals forwarded last month by Canada to share and spread best practices in dispute settlement at the World Trade Organization gained some support leading up to a July 21 Dispute Settlement Body meeting, but lacked signatures from major dispute settlement players such as the United States and China.

FTA Central
  • Australia's ambassador to the U.S., Joe Hockey, at the Republican National Convention this week said he had discussions with a key member of Congress on finding a path for a lame-duck vote on the Trans-Pacific Partnership, while casting doubt on the prospects for TPP if it isn't done this year.

  • Australia's trade minister, Steven Ciobo, said this week he is “cautiously optimistic” about the Trans-Pacific Partnership getting through the U.S. Congress in a post-election lame-duck session and cited “some really good meetings” with key members of Congress, including Senate Finance Committee Chairman Orrin Hatch (R-UT), on the market exclusivity period for biologic drugs.