The U.S. and South Korea reached a deal that will allow for $110 million worth of annual U.S. rice exports to South Korea, the Office of the U.S. Trade Representative said Nov. 19. The agreement will give access to more than 130,000 tons of U.S. rice exports each year and will ensure South Korea is transparent and predictable “around the tendering and auctioning” for U.S. rice. The deal gives the U.S. the “largest volume of guaranteed market access for rice” that it has ever had in South Korea, USTR Robert Lighthizer said. “It will prove enormously beneficial for American producers and their customers in Korea.”
The trade war that President Donald Trump began with China 16 months ago is creating pain for businesses, but there's a deeper strategic mistake to consider, said Matthew Goodman, senior vice president for Asian economics at the Center for Strategic and International Studies. Goodman, who was speaking during the first session in a Congressional Trade Series on Nov. 19, said, “I still don't know what the basic strategic goal is here." He said he didn't know whether the administration wants to get structural changes to China's economy, as it claims, or whether it wants to reduce the bilateral trade deficit, or to contain China's rise.
House Ways and Means Committee Chairman Richard Neal, D-Mass., who leads the working group negotiating with the U.S. trade representative over the U.S.-Mexico-Canada Agreement, said he anticipates that USTR Robert Lighthizer will send over text of the changes to the agreement next week. Neal said he spoke with Lighthizer Nov. 14, to tell him he'd be forwarding “a series of, we think, could be make-or-break issues, and that we hoped that he would digest them and then respond to us, fast."
The Trump administration applauded Brazil’s commitment to implement an annual duty-free tariff rate quota of 750,000 metric tons of wheat imports, saying the move signals a desire to deepen trade ties with the U.S. In a Nov. 14 statement, U.S. Trade Representative Robert Lighthizer said the TRQ will benefit U.S. wheat exporters. It “will allow our wheat exporters to compete on a level playing field,” Lighthizer said. “We look forward to increased exports of American wheat to Brazil.”
Trade Subcommittee Chairman Earl Blumenauer said he doesn't know if they'll to be able to evaluate the details of the U.S.-Japan skinny trade deal in the hearing scheduled for next week, because the Office of the U.S. Trade Representative has not released the text yet. He said in a Nov. 13 interview it's “troubling" that the House Ways and Means Committee has not received text of the deal, which was signed Sept. 26. "Sometimes dealing with USTR can be a little opaque, which is one of my constants through several administrations," he said.
House Speaker Nancy Pelosi said that a resolution to the negotiations between the Democrats in the working group and the Trump administration on the U.S.-Mexico-Canada Agreement is “imminent," and that she believes it can be a template for future trade agreements. Pelosi, D-Calif., who was speaking at her weekly press conference on Nov. 14, suggested that the AFL-CIO would not argue against a "yes" vote for the NAFTA rewrite. "I think we'll see what the implementation is, and the enforcement is, and I think it will be a value that is shared by our friends in labor as well as the Democrats in Congress," she said.
China’s decision to lift import restrictions on U.S. poultry is expected to pave the way for more than $1 billion in U.S. poultry exports to China each year, the U.S. Trade Representative Robert Lighthizer said Nov. 14. China’s customs agency and Ministry of Agriculture announced on Nov. 14 the country would be lifting the restrictions, according to a report from China’s state-run news agency Xinhua, allowing imports of U.S. poultry products for the first time since the ban began in 2015.
On a day when more than two dozen House Republicans tweeted that their chamber should pass the U.S.-Mexico-Canada Agreement -- most contrasting the impeachment movement with the lack of action on the trade deal -- the Democrats' No. 2 said his party's members want to finish negotiations with the U.S. trade representative and get the bill under consideration.
President Donald Trump, in a press conference with the president of Turkey on Nov. 13, said trade with Turkey “could be many times larger" than it is now, and that his administration has the goal of roughly quadrupling the volume of trade between the two countries, which would be $100 billion in two-way trade. According to the Office of the U.S. Trade Representative, U.S. goods exported to Turkey were valued at $10.2 billion, while goods imported totaled $10.3 billion.
NEW YORK -- Moises Kalach, leader of the Mexican Coalition for USMCA and vice president of a textile conglomerate in Mexico, said his organization has met with 172 House offices and 30 Senate offices, and has particularly targeted 94 House Democrats -- from border states, moderates, Hispanics, pro-free trade, or on the Ways and Means Committee (many members fit more than one category).