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Daily News

March 08, 2021

The U.S. and European Union on Monday announced an agreement on how the EU and UK would apportion tariff-rate quotas post-Brexit to ensure “certainty for U.S. producers,” concluding a consultation required under the World Trade Organization.

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Following the U.S.-European Union and U.S.-United Kingdom tariff suspensions last week, Sen. Chuck Grassley (R-IA) on Monday urged the Biden administration to consider a trade deal with the UK its next trade priority.

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March 05, 2021

China on Friday issued a much-anticipated five-year plan that stakes out goals for development in seven high-tech sectors, outlines increases in research and development spending and emphasizes a need to attract foreign investment as part of its dual circulation strategy.

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Senator Bob Casey (D-PA) is refining legislation that would establish a process to screen outbound investments and the offshoring of critical supply chains to ensure the U.S. is prepared “in times of crisis,” he said in a statement.

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The U.S. on Friday said it would be an active and constructive participant in the World Trade Organization plurilateral discussions on environmental sustainability, a push likely to fit in to the Biden administration’s climate change agenda.

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The U.S. and European Union on Friday agreed to a four-month suspension of all tariffs imposed in the World Trade Organization disputes involving aircraft producers Airbus and Boeing, committing to work toward a permanent resolution.

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March 04, 2021

China’s Ministry of Commerce this week issued guidance saying Beijing will promote initiatives that attract foreign investment in high-tech sectors as a means to strengthen its supply chains, suggesting a range of moves including tax concessions and the expansion of free trade zones but noting all investments must fit China’s national strategy.

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The European Union, Korea, Australia and other World Trade Organization members criticized the U.S. on Wednesday for its plan to restrict U.S. procurement coverage of essential medical products, arguing it could disrupt international trade flows amid an ongoing pandemic and urging the U.S. to further clarify the implications of its proposal.

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The House Ways & Means trade subcommittee on Thursday pressed a panel of witnesses on what might happen if the Trade Adjustment Assistance program expired this summer, as well as possible ways to improve its efficacy.

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The U.S. and the United Kingdom on Thursday announced plans to temporarily suspend tariffs imposed in the 16-year-old World Trade Organization dispute involving aircraft producers Airbus and Boeing, pledging to work toward a resolution. 

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March 03, 2021

As Chinese leaders meet this week to unveil the country’s political and economic agenda during its annual “Two Sessions,” China policy analysts are on the lookout for signals from Beijing about how it will implement a plan to become technologically self-reliant.

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Plurilateral negotiations play an important role in the World Trade Organization, allowing members to move forward on important issues and keep the organization relevant and responsive, the U.S., European Union and others argued on Tuesday, defending plurilateral talks after India and South Africa raised concerns about their legal status at the WTO.

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Canada plans to negotiate sector-specific carveouts to the Biden administration’s Buy American policies in areas where the countries can “very easily align,” a top Canadian trade official said this week.

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The Senate Finance Committee on Wednesday voted to confirm Katherine Tai as U.S. Trade Representative, sending her nomination to the Senate floor.  

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March 02, 2021

The full Senate likely will vote to approve Katherine Tai, President Biden’s choice for U.S. Trade Representative, next week, according to several sources tracking the process. 

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Katherine Tai, President Biden’s nominee for U.S. Trade Representative, last week told the Senate Finance Committee she would provide her ideas on how to improve transparency in trade policy-making within 30 days of taking office.

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More than 100 World Trade Organization members plan to prepare a declaration on women’s empowerment through trade for this year’s WTO ministerial, agreeing to a work plan last week to intensify talks in the coming months, according to a Geneva-based trade official familiar with the talks.

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March 01, 2021

Chinese officials on Friday outlined aspects of Beijing’s plan to become technologically self-reliant, advancing its science and technology capabilities by focusing on enhancing semiconductor manufacturing, research and development policies and support of basic research.

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On her first day as director-general of the World Trade Organization, Ngozi Okonjo-Iweala set about the difficult work of turning the enthusiasm – and expectations – around her appointment into results, cautioning against “too many expectations” for the 12th ministerial conference in December while outlining an ambitious series of “deliverables.”

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The Biden administration will consider imposing a carbon border tax as part of its efforts to combat climate change, the Office of the U.S. Trade Representative said in a new trade agenda delivered to Congress on Monday.

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