The Office of the U.S. Trade Representative is seeking applications from people interested in serving on the Intergovernmental Policy Advisory Committee on Trade. Nominations for a four-year term should be submitted by May 4.
After passing the House 424-8 more than two weeks ago, a bill to end permanent normal trade relations status with Russia and Belarus remains hung up in the Senate. Sen. Rand Paul, R-Ky., objected to the language renewing Magnitsky sanctions that is attached to the bill (see 2203290057).
House Majority Leader Steny Hoyer, D-Md., said it would be good if the House and Senate could name their respective conferees to the committee that will aim to hash out a compromise between the two chambers' China packages. He said the next two weeks, when Congress will not be in Washington, could be put to good use by the members. But Hoyer suggested the House will wait until the Senate passes its motion to go to conference, and gives its negotiating instructions.
The door is open for Congress to name conferees to negotiate its China package, after both chambers cleared procedural hurdles last week (see 2203290044). Senators expressed optimism Majority Leader Chuck Schumer, D-N.Y., would achieve his goal of naming conferees to a formal negotiation before the end of the work period April 8. “We’re going to divide up into areas of jurisdiction, and I’m fairly optimistic,” Senate Commerce Committee ranking member Roger Wicker, R-Miss., said April 1. Asked about the timeline for naming conferees, Senate Commerce Committee Chair Maria Cantwell, D-Wash., told reporters: “Soon.”
After the Bureau of Industry and Security added 120 entities to its Entity List last week for supporting the Russian and Belarusian militaries (see 2204010080), senior BIS official Thea Kendler said the U.S. won’t “hesitate” to impose more export restrictions.
The Senate Banking Committee will hold a nomination hearing April 6 for Paul Rosen, President Joe Biden’s nominee for assistant secretary for investment security at the Treasury Department. Rosen, who would oversee Treasury’s role as the chair of the Committee on Foreign Investment in the U.S., was nominated in March (see 2203090015).
A new bill introduced in the House would require the administration to study how digital currencies could help Russia evade U.S. sanctions. The legislation, introduced March 31 by Reps. Gregory Meeks, D-N.Y., and Michael McCaul, R-Texas, the chairman of and ranking member of the House Foreign Affairs Committee, also would create a new State Department officer to oversee sanctions evasion efforts involving digital currency.
World Trade Organization members reached an agreement March 31 that will help address the continuing "underfill" of tariff rate quotas on agricultural imports by some importing members, the WTO said. TRQs allow certain agricultural goods to be imported at lower duties up to a specified amount, with increased duties applied to amounts over the limit. The mechanism was agreed to as a means of allowing exporters some access to other countries’ markets when the normal tariffs on imports are high.
The House should add stronger sanctions measures to the Russia-related bills recently passed out of the Financial Services Committee (see 2203180021), including more serious capital market and investment penalties, the Coalition for a Prosperous America said in a March 29 letter to Speaker Nancy Pelosi, D-Calif.
Senators on the committee that oversees trade pressed U.S. Trade Representative Katherine Tai repeatedly on why the administration isn't engaged in negotiations with other countries to get them to lower their tariffs, so that U. S.exporters, particularly agricultural producers, can gain more market share. Both Democrats and Republicans questioned the decision to pursue the Indo-Pacific Economic Framework as something other than a traditional free trade agreement.