President-elect Joe Biden this week is expected to announce his picks to lead key agencies, including Treasury and State, with former Obama administration Deputy Secretary of State Anthony Blinken reportedly getting the nod for Foggy Bottom.
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Trade in transition
President-elect Joe Biden’s reported pick to lead the Treasury Department, Janet Yellen, has advocated for a World Trade Organization-compliant carbon tax, while his choice for national security adviser, Jake Sullivan, says the Biden administration’s approach to China will begin with domestic policy and building international alliances.
The European Union, Canada, Japan and 10 other countries on Monday pledged to launch an initiative on medical supplies aimed at identifying steps World Trade Organization members can take to facilitate trade and better position countries amid the public health crisis.
Support for the multilateral trading system is “now as important as ever,” leaders from the world’s largest economies said this weekend at the conclusion of a virtual G20 summit.
World Trade Organization members remain divided on a proposal to enact a temporary waiver that would allow countries to sidestep intellectual property obligations to respond to the pandemic, leading some analysts to believe the waiver, if ever adopted, won’t come in time to help combat the public health crisis.
With President-elect Joe Biden set to take over the Oval Office in January, the United Kingdom is preparing to make its case to the new administration for quickly finishing the in-progress bilateral trade deal, according to a British official familiar with the matter – but the effort is up against a narrow timeframe and unknown Biden trade priorities.
Economic leaders from the 21-member Asia-Pacific Economic Cooperation forum on Friday committed to meliorating the narrative on trade and investment and outlined a 20-year vision for the multilateral trading system.
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The House on Thursday passed the U.S.-Mexico-Canada Agreement’s implementing bill 385-41, setting up the Trump administration's signature trade deal for Senate consideration – and ratification – in 2020.
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The Senate should not consider the U.S.-Mexico-Canada Agreement under Trade Promotion Authority fast-track procedure because the Trump administration has failed to comply with the law, Sen. Pat Toomey (R-PA) said on Thursday.
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The WTO World Trade Report says at least 115 countries have set out digital development strategies or new industrial plans addressing the digital economy.
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The European Union, Canada, Japan and 10 other countries on Monday pledged to launch an initiative on medical supplies aimed at identifying steps World Trade Organization members can take to facilitate trade and better position countries amid the public health crisis.
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