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Commerce: Chinese ‘twist ties’ benefit from undervalued renminbi in CVD case

The Commerce Department on Tuesday issued preliminary countervailing duties on Chinese twist ties, claiming Chinese producers benefit from an undervalued renminbi. 

Transition team must prepare Biden’s USTR on a host of pressing issues

President-elect Joe Biden’s trade transition team has a lengthy list of issues to assess as it reviews the operations of the Office of the U.S. Trade Representative under President Trump – a process likely made easier by the start of the official transition this week – but Biden’s policy direction is unlikely to be clear until his USTR pick is announced, according to former agency officials and members of past transition teams.

USDA predicts record FY21 ag exports to China, but shy of phase-one goals

The Agriculture Department expects China to import a record-setting $27 billion worth of U.S. agricultural goods in fiscal year 2021, but to fall short of the more than $40 billion year-two target for U.S. agricultural imports set in the U.S.-China phase-one trade agreement, according to a quarterly forecast issued on Monday.

Trade in transition
Yellen favors carbon tax; Sullivan says domestic policy is best China tool

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.

Reform-oriented Ottawa Group to propose pandemic initiative at WTO

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.

G20 leaders: Backing multilateral trading system ‘important as ever’

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.

This Week In Trade

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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