Reshoring production is not the be-all and end-all solution to the creation of more resilient supply chains of critical goods, medical industry representatives said this week during a hearing held by the U.S. International Trade Commission to inform a congressionally mandated report.
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“Resorting to dispute settlement mechanism is a normal, civilized way to seek enforcement of legally binding commitments.”
Fri, 3:40 PM
The top stories from this week’s issue.
Fri, 12:16 PM
Smith Ramos: “The best thing that can happen to Mexico, and to the world, is that there is a regime change in the U.S.”
Thu, 1:15 PM
“Continued U.S. membership and active participation will help ensure that necessary reforms are undertaken, and that the WTO will continue to play an important and effective role in economic development.”
Thu, 12:31 PM
International digital service tax talks, which U.S. stakeholders hope will obviate foreign digital taxes and other countries see as an avenue to avoid U.S. tariffs, are set to miss an end-of-year deadline because negotiators are unlikely to solve key political divides ahead of the U.S. elections, according to industry sources.
Major U.S. and United Kingdom business and financial groups on Friday relaunched a trans-Atlantic alliance and released new proposals for closer financial regulatory cooperation between the U.S. and UK.
Insider Interview
The Trump administration should swiftly “seize the opportunity” to conclude a limited deal with New Delhi, a former U.S. negotiator in charge of the India portfolio said this week, contending the U.S. should do so before India gets “cold feet.”
The European Commission’s proposal to implement the recently announced tariff agreement with the U.S. allows the bloc to reinstate the duties on lobster if the U.S. imposes new measures on the European Union that “undermine” the relationship -- an effort to ensure the bloc is “not naive,” a Commission trade official said on Thursday.
The renewal of two key trade programs could be in jeopardy due to unrelated political considerations such as a bruising Supreme Court nomination fight and “how raw feelings are” in the aftermath of the election, according to House Ways & Means trade subcommittee Chairman Earl Blumenauer (D-OR).
USMCA
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Efforts to correct drafting errors in the U.S.-Mexico-Canada Agreement implementing bill are facing roadblocks, Senate Finance Committee Chairman Chuck Grassley (R-IA) said this week, adding that he hopes to address the provisions before the end of the year.
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Customs agencies in the U.S., Mexico, Canada remain in close contact on the U.S.-Mexico-Canada Agreement implementation, officials said this week, enjoying what one U.S. official dubbed the “honeymoon” phase.
China
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In a last-ditch effort to reverse the Trump administration’s tariffs on goods from China, thousands of importers have filed lawsuits at the Court of International Trade hoping for refunds, though some lawyers familiar with the litigation are skeptical it will succeed.
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House Ways & Means trade subcommittee Chairman Earl Blumenauer (D-OR) on Wednesday took aim at what he called President Trump’s politicized trade approach to China, including recent national security-related moves involving TikTok and WeChat.
World Trade Organization
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World Trade Organization members this week criticized the U.S. for its ongoing payments to farmers through its trade- and pandemic-related aid programs, pressing the Trump administration to account for agricultural support they say likely exceeds the U.S. domestic support limit.
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G20 trade and investment ministers this week committed to continue doing “whatever it takes” to curb the economic damage caused by the coronavirus pandemic, according to a joint communiqué issued after their third summit of the year.
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SPECIAL REPORT
WTO: The next director-general
Inside U.S. Trade is closely tracking key developments in the search for a new director-general of the World Trade Organization.
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Thousands file complaints against Section 301 tariffs, but is success a ‘long shot?’
In a last-ditch effort to reverse the Trump administration’s tariffs on goods from China, thousands of importers have filed lawsuits at the Court of International Trade hoping for refunds, though some lawyers familiar with the litigation are skeptical it will succeed.
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Policy adviser: Biden will ‘use tariffs’ when needed, backed by strategy
Former Vice President Joe Biden will use tariffs only when necessary and only when they are backed by a comprehensive strategy, a top foreign policy adviser said on Tuesday.
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U.S. pressed again on farm aid at WTO as payments mount
World Trade Organization members this week criticized the U.S. for its ongoing payments to farmers through its trade- and pandemic-related aid programs, pressing the Trump administration to account for agricultural support they say likely exceeds the U.S. domestic support limit.
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U.S., UK consolidate chapter texts as talks reach ‘advanced stages’
The U.S. and the United Kingdom’s bilateral trade negotiations have progressed to “advanced stages,” with negotiators consolidating text in a majority of chapters of a potential deal, British Trade Secretary Liz Truss said on Tuesday.
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