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Daily News

November 24, 2020

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.

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November 23, 2020

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.

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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.

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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.

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World Trade Organization members remain divided on a proposal to enact a temporary waiver that would allow countries to sidestep intellectual property obligations to respond to the pandemic, leading some analysts to believe the waiver, if ever adopted, won’t come in time to help combat the public health crisis.

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November 20, 2020

With President-elect Joe Biden set to take over the Oval Office in January, the United Kingdom is preparing to make its case to the new administration for quickly finishing the in-progress bilateral trade deal, according to a British official familiar with the matter – but the effort is up against a narrow timeframe and unknown Biden trade priorities.

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Economic leaders from the 21-member Asia-Pacific Economic Cooperation forum on Friday committed to meliorating the narrative on trade and investment and outlined a 20-year vision for the multilateral trading system.

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President-elect Joe Biden likely will seek to strengthen trade ties with Taiwan once he takes office, Taiwan Deputy Economic Minister Chern-Chyi Chen told Inside U.S. Trade on Thursday.

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The fate of a limited trade deal negotiated between Washington and New Delhi is still up in the air following the presidential election, leaving the Trump administration to decide whether to pull the trigger -- and take the credit -- or leave the decision to the trade team of President-elect Biden.

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U.S. Trade Representative Robert Lighthizer on Thursday said the agency’s transition to the next president won’t be a problem -- “whoever it is.”

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November 19, 2020

For the Trump administration, World Trade Organization reform is not possible without an acknowledgment from all countries that membership requires market-oriented policies -- but this fundamental priority, like many U.S. reform proposals, faces a China-sized stumbling block as the organization limps into its 26th year.

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President Trump is no longer scheduled to deliver a speech on the “future of trade” at the Asia-Pacific Economic Cooperation forum’s CEO Dialogues on Thursday night.

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President Trump is no longer scheduled to deliver a speech on the “future of trade” at the Asia-Pacific Economic Cooperation forum’s CEO Dialogues on Thursday night.

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Former U.S. Trade Representative Michael Froman says President-elect Biden should focus on collaborating with other countries to make the World Trade Organization “functional” again.

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November 18, 2020

The U.S. and the European Union should counter Chinese trade practices aimed at boosting its rise in high-tech areas by reforming the World Trade Organization, rekindling trans-Atlantic trade talks and coordinating on technology policy, according to a report issued Wednesday by Senate Foreign Relations Committee Republicans.

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France has begun trying to collect digital services taxes, sources tell Inside U.S. Trade, with several U.S. companies receiving invoices earlier this week.

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President-elect Joe Biden is unlikely to roll back the spate of trade and technology restrictions imposed on China by the Trump administration given broad, bipartisan support for the approach, analysts said on Wednesday, adding that Biden is more likely to pursue a multilateral approach as well.

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Sen. Pat Toomey (R-PA) says he plans to push the incoming Biden administration toward a free trade agreement with Taiwan.

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November 17, 2020

While major World Trade Organization members like the European Union, China, Canada and Japan are launching new environmental and sustainability initiatives in Geneva, the U.S. so far has not joined the efforts and this week criticized the European Green Deal at the WTO.

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The United States should step up its investment in high-tech innovation, remain engaged in the global innovation economy and take a targeted approach to risks posed by China’s advancement in emerging technology areas, the Working Group on Science and Technology in U.S.-China Relations says in a new report.

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