Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said tariffs on autos are not related to national security. When asked to respond to news reports that the U.S. and Japan could not finish a deal because the U.S. was not willing to promise to spare Japanese autos from those tariffs, he said, "The president ought to give that assurance and get this show on the road."
In the Sept. 20 edition of the Official Journal of the European Union the following trade-related notices were posted:
Proposed FIRRMA Regulations Introduce New Rules Expanding Jurisdiction, Postpone Decisions on Others
Key elements of the Treasury Department’s recently released proposed regulations on the Foreign Investment Risk Review Modernization Act include an expanded jurisdiction to review “non-controlling investments” and certain exemptions to reviews, Crowell Moring said in a Sept. 19 post.
House Ways and Means Committee Chairman Richard Neal, D-Mass., said that the two sides made progress again on edits to the U.S.-Mexico-Canada Agreement when they met Sept. 20. "Once issues are resolved, they're going to come off the table, and we're not going to revisit them as we proceed to the next one," Neal said. He said the Democrat working group he leads will have a written response for U.S. Trade Representative Robert Lighthizer next week, when they meet again.
The recently released 2020 incoterms rules (see 1909100056) are easier to use and understand compared to previous versions, one of several significant changes to the International Chamber of Commerce’s latest revisions, said Frank Reynolds, the U.S. delegate for the ICC’s 2020 drafting group. The ICC said the new incoterms edition is “more accessible” and includes “more detailed explanatory notes with enhanced graphics” to clarify the responsibilities of exporters and importers. It also includes an “extensive introduction … that anybody can understand,” Reynolds said in an interview.
House Ways and Means Committee Chairman Richard Neal, D-Mass., who leads the working group that aims to win changes to the NAFTA rewrite to make it more palatable to Democrats, said that "it's time to pick up the intensity of the negotiations" with the administration. "I would prefer now that the pace pick up," he said in an interview on Sept. 19, the day before the working group was to meet with U.S. Trade Representative Robert Lighthizer for the first time since they received a counterproposal from him.
The British government apologized after breaking a court ruling banning it from granting export licenses for defense goods to Saudi Arabia. In a Sept. 16 letter to the United Kingdom Committees on Arms Export Controls, Trade Secretary Lizz Truss said the U.K. allowed two “inadvertent breaches” of the license ban.
The Treasury Department released its proposed regulations for the Foreign Investment Risk Review Modernization Act of 2018, granting expanded authorities to the Committee on Foreign Investment in the United States, Treasury said in a Sept. 17 press release.
Senate Finance Committee Chairman Chuck Grassley, R-Iowa, says he has not been able to see the written counterproposal on the NAFTA rewrite from the USTR to the House Democrat working group, but said that ending the ability to block panels in state-to-state dispute is under discussion. Grassley said his staff has had an overview of the administration's proposals to refine the new NAFTA, known as the U.S.-Mexico-Canada Agreement, "and we look at it as something we can live with." He said he doesn't know how Democrats have received the counterproposal. "I think that’s more important than my reaction to it," he said.
A recently reached U.S.-Japan free trade deal makes up 90 percent of the losses farmers experienced because the U.S. dropped out of the Trans-Pacific Partnership, said Senate Finance Committee Chairman Chuck Grassley, R-Iowa, during a Sept. 17 call with reporters. "I haven’t seen anything on paper, but according to [the Office of the U.S. Trade Representative], it puts us on this level playing field with our trading partners," he said.