Almost five years after the first round of 25% tariffs were put on Chinese imports, it was trade irritants with Mexico and India, as well as concerns about tariff preference programs and the lack of a market-opening strategy, that senators dwelled on during the U.S. Trade Representative's appearance in front of the Finance Committee.
European Commission President Ursula von der Leyen told reporters after her meeting with President Joe Biden that he agrees that the goal should be for critical minerals processed, mined or recycled in the EU to qualify under Inflation Reduction Act standards for electric vehicle batteries.
Ahead of a meeting of the "Three Amigos" -- the presidents of the U.S. and Mexico and the prime minister of Canada -- Jan. 9-10, business groups that advocate for North American integration said during a Jan. 6 webinar that they're hoping to see more evidence of nearshoring and using North American resources to diversify away from China.
Japan's economy minister, while acknowledging that complete decoupling is possible, said that dependence on China leaves countries open to economic coercion, broken supply chains and economic insecurity.
Rep. Brad Wenstrup, R-Ohio, introduced a bill to extend HOPE and HELP, two Haiti-specific trade preferences, even though they don't expire until 2025.
The EU is hoping for concrete input from the U.S. by year-end on changes to the World Trade Organization’s dispute settlement system (see 2210180006), an EU official said, adding member states are growing increasingly impatient about the U.S.’s lack of action. Sabine Weyand, the European Commission’s director-general, also said the discussions within the EU on extending WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS waiver) have become more difficult.
Importers of finished goods and manufacturing inputs told the International Trade Commission across three days of testimony that the Section 301 tariffs are damaging profit margins, and in some cases lead to layoffs. But some unions and manufacturers said the Section 301 tariffs are deserved for Chinese abuses, and with the tariffs in place, the goods they make are more competitive. The International Trade Commission is studying the efficacy of Section 301 and Section 232 tariffs, and their economic impact.
Ethiopia was exporting more than $100 million annually of apparel and textiles to the U.S. before it was ousted from the African Growth and Opportunity Act program over civil strife, and a prominent apparel firm and apparel trade group are asking that it be restored.
A recent Congressional Research Service report on the phase one deal with China notes that there has been little discussion about how to enforce what China agreed to, and how to address issues that phase one didn't touch but were highlighted in the Section 301 report.
The following lawsuits were filed at the Court of International Trade during the week of April 18-24: