The Office of the U.S. Trade Representative released the U.S. dollar procurement thresholds it will allow from foreign firms under the World Trade Organization agreement on procurement, United States-Korea Free Trade Agreement, the United States-Morocco Free Trade Agreement, the United States-Panama Trade Promotion Agreement and the United States-Peru Trade Promotion Agreement.
The Office of the U.S. Trade Representative is modifying the allocations of in-quota quantity under the annual beef tariff-rate quota, by its authority under the Uruguay Round Agreements Act, according to a Federal Register notice.
China will take “corresponding measures” if the U.S. “continues down the wrong path” by imposing Section 301 tariffs on semiconductors, Chinese Foreign Ministry spokesperson Lin Jian said during a regular press conference Dec. 24 in Beijing.
The U.S. and Indonesia "have agreed on the substance stipulated in the reciprocal trade negotiation document," Indonesia said in a Dec. 23 news release, according to an unofficial translation. It said technical meetings for legal scrubbing would be held in the second week of January, and the agreement should be signed by the third week of January.
A notice from the Office of the U.S. Trade Representative to be published in the Federal Register Dec. 29 says that goods from Nicaragua that don't qualify for the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) should be entered beginning Jan. 1 under Harmonized Tariff Schedule heading 9903.89.01. That tariff number doesn't add any duty past the most-favored nation rate, but the goods also are subject to the reciprocal tariff of 18%, which is applied by HTS heading 9903.02.47.
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The Office of the U.S. Trade Representative said that while China has been burdening U.S. commerce with its non-market practices to develop its semiconductor industry, it won't be hiking Section 301 tariffs on Chinese chips until June 2027.
The U.S. Trade Representative announced that it found that China's non-market practices in developing its semiconductor industry unreasonably burdens or restricts U.S. commerce, but said the current Section 301 tariff of 50% on Chinese semiconductors will remain in place, with no hike planned until June 23, 2027. The rate has not been set, and there will be a notice on the new rate at least 30 days ahead of the deadline, the notice said.
The Indonesian government sent Economy Minister Airlangga Hartarto to Washington, where he is expected to meet with U.S. Trade Representative Jamieson Greer before Christmas, in the hopes of finishing a trade deal before the New Year.
The top Democrat on the Senate Finance Committee, Sen. Ron Wyden of Oregon, criticized U.S. Trade Representative Jamieson Greer for the U.S.'s communique declaring that the era of most-favored nation tariff rates is over (see 2512160045). In a letter sent last week, Wyden said, "MFN has been integral to U.S. trade policy and a core principle of the international trading system for nearly 80 years, and it ensures that U.S. goods and services can compete on a level playing field in international markets without being targeted with unfair tariffs or regulations."