The Office of the U.S. Trade Representative early this morning (Feb. 21) announced that the U.S.-Korea free trade agreement will enter into force on March 15, setting a start date for the first phase of tariff cuts on a wide range of products and the introduction of new standards for intellectual property and services trade.
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Daily News
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02-21-2012
USTR Announces U.S-Korea FTA Will Enter Into Force March 15U.S., China Reach Audiovisual Deal To Boost U.S. Film Exports At End Of Xi VisitThe U.S. and China late last week struck a deal that expands the number of foreign films that can be imported annually into China and aims to bring China into compliance with a 2009 World Trade Organization ruling that had determined that the Chinese distribution system for audiovisual products was unfairly denying market access to imports. 1088 words02-17-2012
WTO Members Brainstorm Services Plurilateral Options, No Decision YetA group of 16 World Trade Organization members met this week to brainstorm ways to further liberalize trade in services beyond the current deadlock of the Doha round, but the discussions have not yet resulted in any substantive decisions on the legal framework of a possible new services agreement, according to Geneva sources. 943 wordsObama Unveils New Measures Designed To Boost Manufacturing, ExportsPresident Obama today (Feb. 17) announced a new push to reauthorize the Export-Import Bank; match unfair export financing offered by other countries such as China; and use administrative powers to streamline and coordinate inter-agency trade efforts as part of a new campaign aimed at promoting manufacturing and boosting U.S. exports. 1171 words02-16-2012
Obama Requests Reorganization Power; Hints Trade Proposal Not Yet ReadyPresident Obama today (Feb. 16) formally submitted his request to Congress for broad authority to reorganize the executive branch, which is the first step in his plan to consolidate six federal agencies dealing with trade. But at the same time the White House indicated it has not yet fully developed its trade reorganization proposal. 503 wordsU.S., China Agree To Seek International Pact On Export Finance By 2014President Barack Obama and Chinese President Hu Jintao agreed this week to try to reach a multilateral agreement by 2014 on a set of international guidelines for providing official export financing. 1458 wordsStaff Makes Progress In GPX Talks, But Bill Unlikely Until After RecessKey congressional staff met again last night (Feb. 15) to discuss the development of GPX legislation, and while they continued to make good progress in their discussions, it appears unlikely that a bill will be introduced this week. As Congress is on break all next week, this means a bill will likely not be introduced until at least Feb. 27, sources said. 898 wordsImporters Expect Waiver Of 100 Percent Scanning As July Deadline LoomsU.S. importers are facing a July 1 statutory deadline that would block all foreign containers from entering U.S. ports if they have not first been scanned overseas with relatively little trepidation because they do not expect the deadline to take hold, according to private-sector sources. 1609 words02-15-2012
Task Force Urges U.S., EU To Pursue Broad Trade Liberalization StrategyA report unveiled today (Feb. 15) in Brussels by two think tanks advocated that the United States and European Union should work to conclude a comprehensive trade agreement that covers “substantially all trade” but also goes beyond traditional free-trade paradigms to inject new life into the multilateral trading system. 844 wordsDocuments Show USTR Made Last-Ditch Effort To Sign Up Four States To GPAAs the talks for an updated Government Procurement Agreement (GPA) entered their final phase last fall, the Obama administration mounted a last-ditch effort to sign up four additional U.S. states to the GPA in an effort to strengthen the U.S. negotiating position, according to documents obtained by Inside U.S. Trade under the Freedom of Information Act (FOIA). 653 words02-14-2012
Special 301 Comments Cite Russian Non-Compliance With WTO PromisesMajor U.S. right holder industries generally expressed alarm late last week at the fact that Russia has still not implemented some of the legal reforms to which it committed in order to accede to the World Trade Organization, and reiterated their charge that Russia is still inadequately enforcing intellectual property rights. 1686 wordsCountries Unlikely To Give Russia 'Grace Period' Before Launching WTO Cases, Experts SayTwo former members of the World Trade Organization's Appellate Body last week said that WTO members are not likely to refrain from bringing dispute settlement cases against Russia once it accedes to the WTO, even though members held off on launching disputes against China for roughly three years following its accession in 2001. 727 words02-13-2012
White House Budget Proposal Goes Beyond Farm Savings Envisioned By CongressThe White House today (Feb. 13) proposed an Agriculture Department budget for the 2013 fiscal year that would save $32 billion over the next decade, mostly by eliminating direct payments to farmers and reducing subsidies to crop insurance companies. 1053 wordsUnder Proposal For Enforcement Center, ITA Would Get Most New FundsPresident Obama's fiscal year 2013 budget proposal, unveiled today (Feb. 13), requests $26 million in new funds for the creation of the Interagency International Trade Enforcement Center (ITEC), most of which would go toward bolstering the Commerce Department's International Trade Administration (ITA). 870 wordsU.S. Hopes To Build Personal Ties, Policy Understanding During Xi VisitChinese Vice President Xi Jinping, who is prepping to take over as China's president in the spring of 2013, arrives in Washington today (Feb. 13), and will undertake a whirlwind of meetings with senior U.S. executive and legislative branch officials tomorrow (Feb. 14) and Wednesday, kicking off a week-long U.S. visit. 882 wordsWhite House Budget Seeks New Funds For Trade Enforcement, InspectionsPresident Obama’s proposed budget to be unveiled this morning (Feb. 13) follows up on his State of the Union speech by seeking $26 million for a trade enforcement unit, which the White House says will significantly enhance U.S. efforts to aggressively fight unfair trade practices around the world, including with respect to China. 638 words02-10-2012
Commerce Final Rule Leaves Door Open To Future Use Of ZeroingThe final rule released by the Commerce Department late this week, which is the first step called for under U.S. settlements with the European Union and Japan in longstanding fights over zeroing, contains a commitment to drop the use of zeroing in future administrative reviews of antidumping (AD) cases but does not rule it out completely. 685 words02-09-2012
Russia Coalition Gears Up For Permanent MFN Vote, Seeks New MembersThe Coalition for U.S.-Russia Trade is gearing up for the fight over the congressional vote on removing Russia from the Jackson-Vanik amendment, which would allow the United States to extend permanent most-favored nation (MFN) status to Russia once it enters the World Trade Organization later this year. 1006 wordsNew Argentine Import Declaration Draws Ire Of U.S. CompaniesU.S. companies are complaining to the Obama administration about a new Argentine government policy, effective Feb. 1, which requires prior approval of all imports before they can enter the country. They point to this measure as an additional barrier on top of several other Argentine trade policies aimed restricting imports and promoting exports. 1230 wordsNFTC Proposes New WTO Negotiating Agenda Featuring Trade Facilitation, ServicesThe National Foreign Trade Council yesterday (Feb. 8) urged members of the World Trade Organization to revitalize multilateral negotiations by seeking agreements on trade facilitation and services trade, as well as by creating a work program on emerging issues like the open flow of information across borders that could ultimately lead to improved WTO rules. 900 words |
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