President Trump kicked off the week by touting what he sees as the benefits of tariffs on imported goods, with reports suggesting the administration will soon announce it is moving forward with new duties on $200 billion in Chinese goods.
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Japan is expected to continue to balk at a bilateral trade deal with the U.S. during high-level talks that will resume on Sept. 24, analysts say, but could be forced into negotiations in the face of sustained U.S. pressure and the threat of Section 232 tariffs on autos.
Rules of origin governing whether some chemicals will be eligible for benefits under a new U.S.-Mexico trade pact are more flexible than provisions in the North American Free Trade Agreement, sources said, adding the new rules are akin to those included in the U.S.-Korea Free Trade Agreement.
Ahead of a World Trade Organization agriculture committee meeting next week, six countries are questioning the nature and methodology of the $12 billion aid package authorized by President Trump to help farmers affected by the administration's trade policies, asking whether it conforms to WTO rules, according to a committee document filed last week.
Proposed changes to duty drawback rules issued by the Treasury Department and Customs and Border Protection are drawing fire from a number of industry groups that fear the new rules would limit companies' ability to recoup paid tariffs and taxes.
Members of the Global Forum on Steel Excess Capacity this week reached consensus on a process that will allow for the identification and removal of subsidies and other ways to eliminate distortions that contribute to global steel overcapacity, according to a statement from the G20 chair.
U.S. business groups are calling for an exclusions process for the latest round of U.S. tariffs on $200 billion in Chinese goods, but sources say exclusions are not expected at least for the initial 10 percent duties that go into effect next week.
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Rules of origin governing whether some chemicals will be eligible for benefits under a new U.S.-Mexico trade pact are more flexible than provisions in the North American Free Trade Agreement, sources said, adding the new rules are akin to those included in the U.S.-Korea Free Trade Agreement.
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“I worry that politics in Canada is trumping common sense because there’s a very good deal that was designed by Mexico and the U.S. to appeal to Canada. And they’re not signing up.”
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A DSB meeting also touches on the contentious issue of Appellate Body appointments.
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“To be honest, I don’t think it’s over. They have lots of ammunition and it can expand to other areas.”
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