A global look at foreign trade agreements discussed how many major economies are moving toward more liberalization while the U.S. stands still on previously launched FTA negotiations. Baker McKenzie lawyers shared their insights on the opportunities and compliance concerns under FTAs in a webinar Jan. 25. Adriana Ibarra-Fernandez, a Mexico City, Mexico attorney, talked about Latin American FTAs, and noted that even though negotiations concluded after 20 years between Mercosur, which represents Brazil, Argentina, Paraguay and Uruguay, and the European Union, the trade deal has not been approved in the various capitals, three years after the negotiations ended.
The following are short summaries of recent CBP NY rulings issued by the agency's National Commodity Specialist Division in New York:
All 14 of the Republicans on the Senate Finance Committee are telling colleagues in their chamber that providing a $12,500 incentive to purchase union-made, U.S.-assembled electric vehicles will spur foreign retaliation against American auto exports. The House version of Build Back Better offers a $7,500 refundable tax credit for any electric vehicle purchase -- the same amount as current law, but makes it refundable and does not phase it out for leading manufacturers. Currently, Tesla and General Motors vehicles are no longer eligible for the credits. But in order to receive $12,500, the car or truck would need to include a U.S.-assembled battery and be made by union workers in the United States.
The following are short summaries of recent CBP NY rulings issued by the agency's National Commodity Specialist Division in New York:
The following are short summaries of recent CBP NY rulings issued by the agency's National Commodity Specialist Division in New York:
Cabinet-level officials in both Mexico and Canada are furiously lobbying U.S. senators to change an electric vehicle incentive in the Build Back Better bill, so that it does not discriminate against cars built in their countries. As passed by the House, the incentive gives larger credits for cars built in the U.S. with U.S. batteries and with at least 50% U.S. content; and in 2027, only cars assembled in the U.S. would be eligible for the purchase credit.
Cabinet-level officials in both Mexico and Canada are furiously lobbying U.S. senators to change an electric vehicle incentive in the Build Back Better bill, so that it does not discriminate against cars built in their countries. As passed by the House, the incentive gives larger credits for cars built in the U.S. with U.S. batteries and with at least 50% U.S. content; and in 2027, only cars assembled in the U.S. would be eligible for the purchase credit.
A domestic producer filed a petition Nov. 15 with the Commerce Department and the International Trade Commission requesting new antidumping duties on emulsion styrene-butadiene rubber from the Czech Republic, Italy and Russia. Commerce will now decide whether to begin AD duty investigations. The investigation was requested by Lion Elastomers.
The following are short summaries of recent CBP NY rulings issued by the agency's National Commodity Specialist Division in New York:
U.S. Trade Representative Katherine Tai said that the administration is "very supportive" of Leveling the Playing Field Act 2.0, a bipartisan bill from Ohio's senators that would clarify how dumping calculations are made, would provide for expedited successive investigations when there is an import surge from a new country on a product subject to a trade remedy order, and would address extraterritorial subsidies (see 2104160037)