In an opinion piece published on CNN.com, Senate Finance Committee Chairman Chuck Grassley, R-Iowa, and the panel's top Democrat, Sen. Ron Wyden, D-Ore., said the U.S. needs allies in addressing "the problems that are eroding the [World Trade Organization]'s credibility and effectiveness. These are problems that, if left unresolved, will endanger the WTO's future relevance." They said the fact that China still gets special treatment as a developing country is a big problem, and should be changed. Countries ignore transparency requirements. And, they said, the appellate body has strayed from its mission. But, they said, there are reasons to hope. "Negotiations are underway to curtail the fish subsidies that have long promoted overfishing," as well as e-commerce negotiations. "If concluded, these agreements would demonstrate that the WTO can still serve as the institution it was intended to be."
The Environmental Protection Agency issued a final rule setting new significant new use rules (SNURs) under the Toxic Substances Control Act (TSCA) for 28 chemical substances that were the subject of premanufacture notices (PMNs). As a result of the SNURs, persons planning to manufacture, import or process any of the chemicals for an activity that is designated as a significant new use by this rule are required to notify EPA at least 90 days in advance. Importers of chemicals subject to these proposed SNURs will need to certify their compliance with the SNUR requirements, and exporters of these chemicals will be subject to export notification requirements. The SNURs take effect Dec. 16.
The Treasury’s Office of Foreign Assets Control sanctioned two South Sudan businessmen and six entities for involvement in corruption -- including bribes, kickbacks and procurement fraud -- with senior government officials, Treasury said in an Oct. 11 press release. The two men, Ashraf Seed Ahmed Al-Cardinal and Kur Ajing Ater, were designated under the Global Magnitsky Human Rights Accountability Act. The sanctioned companies include five owned by Al-Cardinal and one owned by Ajing.
President Donald Trump announced a "very substantial phase 1" deal in the Oval Office Oct. 11, saying the Chinese and American negotiators came to a deal on intellectual property, financial services and agricultural sales. The president said China will buy as much as $40 billion to $50 billion worth of American commodities. He also said good progress had been made on issues around technology transfer from American companies to Chinese partners.
President Donald Trump will sign an executive order giving the Treasury Department “very significant” new sanctions authorities to target the Turkish government, Treasury Secretary Steven Mnuchin said Oct. 11. The authorities will include primary sanctions and secondary sanctions, Mnuchin said, but stressed the U.S. is not yet activating the sanctions. “We are putting financial institutions on notice that they should be careful, and that there could be sanctions,” Mnuchin said. “Again, there are no sanctions at this time, but this will be the broadest executive authorities delegated to us.”
FedEx urged a court to deny the Commerce Department’s motion to dismiss FedEx’s June lawsuit against the agency, saying Commerce’s points were invalid, court records show. FedEx’s original suit alleged Commerce’s export controls were “unconstitutional,” “impossible to comply with” and placed an “overbroad, disproportionate burden” on FedEx (see 1906250030). Commerce responded in September by asking the court to dismiss the suit because it said it was a political matter, was precluded from judicial review under the Export Control Reform Act, and that FedEx did not raise a “patent violation” and did not meet the conditions to file a due process claim (see 1909110073).
President Donald Trump said he will soon authorize “powerful” sanctions against Turkey for its recent military actions in Syria. The sanctions will target former and current Turkish government officials and anyone contributing to Turkey’s actions, Trump said, adding that the U.S. will also “immediately stop” negotiating a trade deal with Turkey.
The World Customs Organization issued the following release on commercial trade and related matters:
Ghana will sign a textile stamp policy agreement with industry stakeholders to require “textile manufacturers, importers and traders” to attach approved stamps to textile prints before they are sold, according to an Oct. 10 report from the Hong Kong Trade Development Council. The stamps must bear “key security features,” the report said. The measure is aimed at curbing textile smuggling into Ghana, whose textile industry is marred by “counterfeiting, piracy and smuggling,” the report said. The tax will also help reduce tax evasion at ports and prevent “fake and pirated product dumping on the local market,” the HKTDC said.
In the Oct. 10 edition of the Official Journal of the European Union the following trade-related notices were posted: