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Daily News

March 01, 2019

The U.S. and the European Union could increase exports to the other by around $30 billion each in an agreement that eliminates only industrial tariffs, according to a new EU economic impact report on a potential deal.

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Members of the Senate Foreign Relations Committee this week identified U.S.-China trade relations as a major factor shaping U.S. foreign policy this year, with many lawmakers questioning Washington’s strategy toward Beijing.

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China and India this week faced scrutiny over their domestic support policies on agriculture at a World Trade Organization Committee on Agriculture meeting where other members pushed both countries to further limit their trade-distorting support.

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February 28, 2019

A World Trade Organization dispute settlement panel on Thursday found China’s agricultural subsidies exceeded its allowed amount in three of the four crops for which the U.S. claimed Beijing was breaching its commitments.

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The Office of the U.S. Trade Representative on Thursday released its summary of negotiating objectives for a potential deal with the United Kingdom, a list that largely mirrors those established for talks with the European Union.

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A major Chinese business association on Wednesday claimed China has made “substantial progress” on intellectual property rights protection, but varied U.S. groups contended China has not made enough headway.

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World Trade Organization members on Wednesday approved the United Kingdom’s accession to the Government Procurement Agreement, which is worth more than $1.7 trillion a year.

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Analysts and former officials predict trade will be a focal point of Brazilian President Jair Bolsonaro’s visit to Washington next month, with many of them agreeing that U.S. support for Brazil’s accession to the Organization for Economic Cooperation and Development will be a “hot topic.”

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February 27, 2019

If Congress chooses not to approve the U.S.-Mexico-Canada Agreement, other U.S. trade initiatives -- including a push to strike a deal with China -- will be meaningless, U.S. Trade Representative Robert Lighthizer said on Wednesday.

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Agriculture Secretary Sonny Perdue on Wednesday said the Trump administration was making progress in resolving the Section 232 tariffs on steel and aluminum imposed on Canada and Mexico, saying they could be replaced by “reasonable quotas.”

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The Trump administration is eyeing a multi-tiered consultation process to enforce a trade deal between Washington and Beijing, U.S. Trade Representative Robert Lighthizer told the House Ways & Means Committee on Wednesday.

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Despite instructions from the House Appropriations Committee in a government funding package signed by the president earlier this month, U.S. Trade Representative Robert Lighthizer on Wednesday signaled that a product-exclusion process for tariffs on $200 billion worth of Chinese goods would be instituted only if the 10 percent tariffs are increased to 25 percent.

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February 26, 2019

The European Union’s ambassador to the U.S. last week defended the EU Commission’s efforts to implement an EU-wide digital services tax, saying the EU must act to head off individual member state measures in lieu of a consensus at the Organization for Economic Cooperation and Development.

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An upcoming ruling by the Canadian International Trade Tribunal is a critical component of an ongoing Section 232 tariff dispute between Ottawa and Washington, according to a senior Canadian industry official.

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British Prime Minister Theresa May said on Tuesday she would allow Parliament to vote for a Brexit delay if her preferred deal fails to pass next month, a decision that followed Labour Party leader Jeremy Corbyn's announcement that his party would officially back a second referendum.

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February 25, 2019

The domestic steel industry last week exceeded the capacity utilization level targeted by the Commerce Department last year in its Section 232 report to the White House on steel imports, which was used to justify 25 percent tariffs on U.S. trading partners.

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The U.S. on Monday again refused to advance World Trade Organization Appellate Body nominations over concerns about its overreach and “disregard for rules.”

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February 24, 2019

National Economic Council Director Larry Kudlow on Sunday called on governors from across the U.S. to help the White House ensure the congressional ratification of the U.S.-Mexico-Canada Agreement, saying “it would give us momentum” in talks with China.

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February 22, 2019

Many European trade ministers this week expressed hope that the negotiating mandates for talks with the U.S. would be approved soon, but EU Trade Commissioner Cecilia Malmström said on Friday that some member states were still considering their positions.

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President Trump announced on Friday that the U.S. and China had reached an agreement on “currency manipulation” in trade talks that were extended through the weekend, predicting that a “real” deal was more likely than not.

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