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Daily News

September 25, 2020

Reshoring production is not the be-all and end-all solution to the creation of more resilient supply chains of critical goods, medical industry representatives said this week during a hearing held by the U.S. International Trade Commission to inform a congressionally mandated report.

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International digital service tax talks, which U.S. stakeholders hope will obviate foreign digital taxes and other countries see as an avenue to avoid U.S. tariffs, are set to miss an end-of-year deadline because negotiators are unlikely to solve key political divides ahead of the U.S. elections, according to industry sources.

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Major U.S. and United Kingdom business and financial groups on Friday relaunched a trans-Atlantic alliance and released new proposals for closer financial regulatory cooperation between the U.S. and UK.

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The Trump administration should swiftly “seize the opportunity” to conclude a limited deal with New Delhi, a former U.S. negotiator in charge of the India portfolio said this week, contending the U.S. should do so before India gets “cold feet.”

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September 24, 2020

The European Commission’s proposal to implement the recently announced tariff agreement with the U.S. allows the bloc to reinstate the duties on lobster if the U.S. imposes new measures on the European Union that “undermine” the relationship -- an effort to ensure the bloc is “not naive,” a Commission trade official said on Thursday.

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The renewal of two key trade programs could be in jeopardy due to unrelated political considerations such as a bruising Supreme Court nomination fight and “how raw feelings are” in the aftermath of the election, according to House Ways & Means trade subcommittee Chairman Earl Blumenauer (D-OR).

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In a last-ditch effort to reverse the Trump administration’s tariffs on goods from China, thousands of importers have filed lawsuits at the Court of International Trade hoping for refunds, though some lawyers familiar with the litigation are skeptical it will succeed.  

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September 23, 2020

One Europe’s largest business groups is calling on the U.S. and European Union to establish a high-level bilateral platform for economic and trade issues, arguing the two sides need a forum to deal with trans-Atlantic concerns and periodically “renew” their relationship.

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World Trade Organization members this week criticized the U.S. for its ongoing payments to farmers through its trade- and pandemic-related aid programs, pressing the Trump administration to account for agricultural support they say likely exceeds the U.S. domestic support limit.

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House Ways & Means trade subcommittee Chairman Earl Blumenauer (D-OR) on Wednesday took aim at what he called President Trump’s politicized trade approach to China, including recent national security-related moves involving TikTok and WeChat.

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September 22, 2020

The U.S. and the United Kingdom’s bilateral trade negotiations have progressed to “advanced stages,” with negotiators consolidating text in a majority of chapters of a potential deal, British Trade Secretary Liz Truss said on Tuesday.

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G20 trade and investment ministers this week committed to continue doing “whatever it takes” to curb the economic damage caused by the coronavirus pandemic, according to a joint communiqué issued after their third summit of the year.

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Former Vice President Joe Biden will use tariffs only when necessary and only when they are backed by a comprehensive strategy, a top foreign policy adviser said on Tuesday.

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September 21, 2020

Trade negotiators from Washington and Nairobi will exchange text during their next round of discussions in October, sources tell Inside U.S. Trade.

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The World Trade Organization negotiations on how to curb harmful fisheries subsidies progressed to text-based discussions last week, with the U.S. continuing to rebuke other members for throwing up what it called “impediments to progress” toward an agreement by December.

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The House is expected to vote on the renewal of the Caribbean Basin Trade Partnership Act on Wednesday, the offices of sponsors Rep. Terri Sewell (D-AL) and Brad Wenstrup (R-OH) told Inside U.S. Trade.

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TikTok and its Chinese parent company, ByteDance, have filed a new suit against the Trump administration contesting U.S. claims that it poses a national security threat because it is a Chinese-owned company that collects data on U.S. citizens.

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September 18, 2020

An association representing global semiconductor manufacturers is warning the Commerce Department against adding one of its most notable members -- China’s Semiconductor Manufacturing International Corporation -- to the Entity List, arguing it would serve only to hurt U.S. interests, according to a draft letter obtained by Inside U.S. Trade.

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The Treasury Department this week issued a final rule revising the requirements for some transactions -- involving U.S. businesses affiliated with the production of critical technologies -- to be declared to the Committee on Foreign Investment in the United States.

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The Commerce Department on Friday issued regulations outlining transactions involving TikTok and WeChat it plans to ban, degrading the functionality of the mobile applications as a means to address national security concerns involving the collection of U.S. personal data by Chinese-owned companies.

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