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Daily News

August 12, 2020

The Office of the U.S. Trade Representative will adjust the list of $7.5 billion in European goods subject to U.S. retaliatory tariffs stemming from subsidies the European Union provided to Boeing because EU member states have not taken action on six subsidies found to be inconsistent with World Trade Organization rules, USTR said on Wednesday.

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The Chinese government on Wednesday released new policies crafted to stabilize trade and investment, emphasizing enhanced export credit schemes, financial assistance to trading companies, quicker customs clearance and investment in high-tech sectors.

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The Trump administration’s new approach to undervalued currency as a countervailable subsidy threatens to increase trade tensions and impinge on monetary policy, the International Monetary Fund staff said in a report this week.

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The U.S. and United Kingdom will exchange their first market-access offers between now and the next round of negotiations in early September, British Trade Secretary Liz Truss said on Wednesday.

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August 11, 2020

Sen. Kamala Harris, the California Democrat picked by presumptive Democratic presidential nominee Joe Biden to run for vice president, has been a staunch critic of what she has termed President Trump's erratic trade approach -- and focused on environmental concerns in opposing USMCA as well as a possible trade deal with Brazil.

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While plurilateral agreements are an important tool in securing new rules at the World Trade Organization, members should work to “multilateralize” them eventually or risk further fragmentation, Korean Trade Minister Yoo Myung-hee, a candidate for director-general, said on Tuesday.

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U.S. businesses operating in China largely support the phase-one pact the Trump administration struck with Beijing because it offers a semblance of stability in an otherwise tumultuous relationship, but many still doubt whether the deal was worth the tariffs used to secure it and question the viability of the oft-touted dispute resolution mechanism, according to a new report.

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Hong Kong is considering a World Trade Organization challenge of the Trump administration's decision to revoke its special trade status, its government announced on Tuesday.

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August 10, 2020

President Trump’s decision to re-impose aluminum tariffs on Canada was made for political gain in an election year, a House Democrat who participated in U.S.-Mexico-Canada Agreement negotiations told Inside U.S. Trade.

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August 09, 2020

If the World Trade Organization is like a tea bag, to paraphrase an old adage, its strength can be gauged only once it is in hot water -- and the water in Geneva is boiling.

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August 07, 2020

The Trump administration’s move to block two Chinese-owned technology companies from operating in the U.S. for national security reasons will end up harming the U.S.’ own interests, China’s Ministry of Foreign Affairs claimed on Friday.

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The Canadian government next month will apply tariffs on approximately $2.7 billion worth of U.S. aluminum and aluminum-containing products in response to the Trump administration’s re-imposition of Section 232 tariffs on Canadian aluminum, the country’s deputy prime minister announced on Friday.

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The approach to special and differential treatment provided to developing countries is already changing at the World Trade Organization, Kenya’s director-general candidate Amina Mohamed said on Thursday, arguing that a more need-based approach in the most recent multilateral agreement reached by the WTO was a good starting point.

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The National Association of Home Builders is urging the Trump administration to prioritize resolving the longstanding U.S.-Canada softwood lumber trade dispute as the group’s members grapple with domestic shortages and spiked prices amid the coronavirus pandemic.

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August 06, 2020

President Trump on Thursday made six trade-related promises to be filled in his next term, cast former Vice President Joe Biden as a “callous” globalist who will not protect American jobs and promised to sign “something” in the next week that “will have a tremendous impact on fairness and trade.”

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The Trump administration intends to impose tariffs of 10 percent on some aluminum from Canada, sources tell Inside U.S. Trade, adding that the duties will take effect on Aug. 16.

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President Trump on Thursday announced he was re-imposing tariffs on aluminum from Canada, alleging that Canadian companies were flooding the U.S. market and reducing employment in the U.S. industry.

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Saudi Arabia’s former economy minister, a candidate to lead the World Trade Organization, said on Wednesday that he would bring a “performance and delivery culture” to the institution in an effort to fix the largely stalled negotiating arm.

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President Trump’s phase-one deal with Beijing is one of several mistakes made by the Trump administration in its dealings with China that are costing Americans on a daily basis, Joe Biden, the presumptive Democratic nominee for president, said this week.

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President Trump’s Section 232 exclusion process for steel and aluminum products is constitutionally sound and consistent with language in the proclamations the president issued to institute the tariffs, the Justice Department recently told the U.S. Court of International Trade in asking for a challenge to the process to be dismissed.

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