A former State Department official who advised on sanctions and money laundering, who also is a co-founder of Sayari Labs, a financial intelligence and commercial data provider, said that Hudson Institute will produce a paper on creating a broad sanctions program for China, complete with the kind of language that would allow it to be executive-order ready.
Mara Lee
Mara Lee, Senior Editor, is a reporter for International Trade Today and its sister publications Export Compliance Daily and Trade Law Daily. She joined the Warren Communications News staff in early 2018, after covering health policy, Midwestern Congressional delegations, and the Connecticut economy, insurance and manufacturing sectors for the Hartford Courant, the nation’s oldest continuously published newspaper (established 1674). Before arriving in Washington D.C. to cover Congress in 2005, she worked in Ohio, where she witnessed fervent presidential campaigning every four years.
The U.S. will grant new Section 232 exclusions for steel and aluminum imports from the EU as part of a deal that will also extend the tariff rate quotas on EU steel and aluminum and avoid EU retaliatory tariffs on U.S. exports.
Former trade negotiators, think tank trade advocates, and a current political appointee at the Office of the U.S. Trade Representative grappled with whether turning away from tariff-lowering free trade agreements is wise or misguided, whether years of globalization from 1995-2015 led to prosperity or economic carnage, and what type of issues should be tackled in the Indo-Pacific Economic Framework or other trade deals.
Rep. Earl Blumenauer, D-Ore., the most prominent advocate for restricting de minimis in Congress, said he held an informal hearing in the hopes of building consensus with Republicans. No Republicans attended, but Rep. Don Beyer, a pro-trade Democrat who serves with Blumenauer on the House Ways and Means Trade Subcommittee, said in an interview after the hearing that he was swayed.
A spokesperson for China's Foreign Ministry criticized the report of the House Select Committee on Competition with the Chinese Communist Party (see 2312120004), released Dec. 12, saying "some in the US are attempting to politicize and weaponize trade and tech issues between China and the US. We firmly oppose this," according to a transcript provided in English of a regular press conference in Beijing on Dec. 13.
Fourteen senators, led by Sens. Sherrod Brown, D-Ohio, and Tom Cotton, R-Ark., demanded that the Biden administration "set a clear deadline" for Mexico to enforce its 2019 joint agreement on steel and aluminum. That agreement lifted 25% tariffs on Mexican steel but said that the countries would monitor for export surges.
National Customs Brokers & Forwarders Association of America President J.D. Gonzalez said representatives from the rail industry and ports, and Homeland Security officials, including Undersecretary Robert Silvers, had a good discussion on how to optimize supply chain flows, but he hopes the group will meet quarterly and delve "a little bit deeper into some of the processes" needed to make the advisory group effective.
National Customs Brokers and Forwarders Association of America President J.D. Gonzalez said the trade group thinks the Customs Modernization Act is heavily focused on enforcement, and the group is "a little disappointed" that some of the items that NCBFAA talked about with Sen. Bill Cassidy, R-La., didn't find their way into this bill.
Congress should remove permanent normal trade relations status for China, but rather than move Chinese imports into Column 2, it should create a China-specific tariff schedule "that restores U.S. economic leverage to ensure that the [Chinese government] abides by its trade commitments and does not engage in coercive or other unfair trade practices and decreases U.S. reliance on [Chinese] imports in sectors important for national and economic security," the House Select Committee on China wrote as one of its dozens of legislative recommendations in its "Strategy to Win America's Economic Competition with the Chinese Communist Party." The report, released Dec. 12, also recommended:
The Customs Modernization bill introduced in the Senate allows CBP to access data from parties in the supply chain other than importers, allows those parties to update and amend their advance data, and authorizes a customs broker or importer of record to convert the pre-entry information into a certified entry filing.