NEW YORK -- Apparel industry lobbyist David Spooner, speaking at the U.S. Fashion Industry Association annual conference, said employees of the Office of the U.S. Trade Representative have indicated to him that the office "might actually sunset some of the tariffs," and that importers will be able to apply for a new product exclusion. "Hopefully this is the case," he added.
The new Republican majority in the House Ways and Means Committee said it plans to do oversight across a multitude of trade policies advanced by the administration, including enforcement of trade agreements and trade negotiations for the Indo-Pacific Economic Framework for Prosperity (IPEF), the Americas Partnership for Economic Prosperity, the U.S.-Taiwan Initiative on 21st Century Trade and the U.S.-Kenya Strategic Trade and Investment Partnership. For existing FTAs, the committee said it wishes to identify provisions that should be updated to improve the agreements' benefits for the U.S.
More than a dozen amendments involving trade have been proposed for the National Defense Authorization Act, a bill the Senate passes every year, and is expected to take up in a lame-duck session after the November election.
International Trade Today is providing readers with the top stories from Aug. 23-27 in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
President Donald Trump, angry that China neither stopped the flow of fentanyl nor returned to buying U.S. soybeans, announced on Twitter Aug. 1 that tariffs on nearly 3,800 8-digit tariff lines will begin Sept. 1. Just like with List 3, the tariffs will start at 10 percent.
President Donald Trump said a 10 percent tariff on imported goods from China on List 4 -- nearly all the remaining imports that have not been hit in Section 301 -- will start on Sept. 1. He linked the punishment to a lack of agriculture purchases and the fact that "my friend President Xi" did not stop the sale of fentanyl to the U.S.
Momentum is moving China and the U.S. toward a trade deal, Myron Brilliant, head of international affairs for the U.S. Chamber of Commerce, said while speaking with reporters April 2. "We're getting into the end game phase" with China, he said. Brilliant said the negotiations with the Chinese delegation that will begin April 3 will be critical to reaching a resolution at the end of April, as both sides desire. But Brilliant emphasized that the business community is more interested in a comprehensive, durable deal that resolves long-standing complaints on discrimination against foreign companies operating in China and subsidies for Chinese firms than in reaching a quick deal.