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Daily News

February 17, 2021

The U.S. and China are barreling toward a complete decoupling of their economies that could be devastating to American competitiveness unless the U.S. changes course and moves away from broad restrictions that go beyond national security concerns, according to new study commissioned by the U.S. Chamber of Commerce.

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Piyush Goyal, India’s minister of railways, commerce and industry, this week said he plans to engage with the Biden administration to construct a new trade package and improve the broader bilateral relationship.

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The Biden administration is planning to order a 100-day review of the supply chains in four high-tech sectors -- semiconductor manufacturing and advanced packaging, high-capacity batteries, strategic and critical minerals, and medical supplies -- as well as broader sectoral supply chain assessments of four industrial bases, according to a draft copy of the order obtained by Inside Cybersecurity.

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February 16, 2021

The Senate Finance Committee is aiming to hold a confirmation hearing next week for Katherine Tai, President Biden’s pick to serve as U.S. Trade Representative, several sources tell Inside U.S. Trade.

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February 15, 2021

Ngozi Okonjo-Iweala on Monday was officially appointed the new director-general of the World Trade Organization, pledging to tackle the pandemic, advance negotiations on curbing fisheries subsidies, move the needle on dispute settlement reform and lay the groundwork for a successful ministerial conference as her initial priorities. 

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February 12, 2021

Draft negotiating text being developed by many World Trade Organization members as the basis for new rules on electronic commerce includes U.S.-proposed language that would limit liability for internet platforms and features proposed exceptions to provisions on cross-border data flows and e-commerce duties.

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The Biden administration this week signaled interest in continuing efforts to boost trade and economic engagement with Brazil, with Secretary of State Antony Blinken and his Brazilian counterpart holding introductory talks and the White House saying it hopes to grow trade between the two countries in the coming months.

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Ngozi Okonjo-Iweala is set to make history on Monday as the World Trade Organization’s first African and first woman director-general, but the deep divides and significant crises facing the organization are likely to put her reformer reputation to the test from the start.

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Citing long-term, structural changes to its workload, the U.S. International Trade Commission on Wednesday asked Congress for $118.8 million to carry out its operations for fiscal year 2022, an increase of $15.8 million over 2021.

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February 11, 2021

The administration has until next month to provide a comprehensive response to thousands of lawsuits filed against Section 301 tariffs on goods from China, the U.S. Court of International Trade said on Wednesday.

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The critical medicines the U.S. wants removed from its Government Procurement Agreement coverage at the World Trade Organization totaled $393 million, or 4.5 percent, in covered federal medical procurement as of 2014, a communication from the U.S. said this week.

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The U.S. must ratchet up efforts to compete with China or “they’re going to eat our lunch,” President Biden told reporters in the Oval Office on Thursday, offering his first comments on his lengthy discussion with Chinese President Xi Jinping the night before.

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February 10, 2021

With surging global demand for semiconductors and a waning supply -- both exacerbated by the pandemic -- and with China redoubling its efforts to advance and increase its chip manufacturing, the U.S. must act quickly to provide domestic incentives for semiconductor manufacturing, according to the CEO of a leading technology trade association.

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With surging global demand for semiconductors and a waning supply -- both exacerbated by the pandemic -- and with China redoubling its efforts to advance and increase its chip manufacturing, the U.S. must act quickly to provide domestic incentives for semiconductor manufacturing, according to the CEO of a leading technology trade association.

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The renewal of the Generalized System of Preferences will be taken up by Congress this year, House Ways & Means Committee Chairman Richard Neal (D-MA) said on Tuesday, calling for an “upgrade” and for provisions ensuring reimbursement for duties incurred during a lapse in benefits.

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Huawei, the Chinese telecommunications giant that has found itself subject to a litany of U.S. restrictions, is hoping the Biden administration will allow it to buy some inputs from U.S. companies but not expecting to be removed from the Commerce Department’s Entity List, company founder Ren Zhengfei told reporters in China on Tuesday.

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February 09, 2021

A new U.S. administration focused on combating climate change provides an opportunity for international cooperation in shaping a global trade agenda that places greater emphasis on environmental concerns, European Union and New Zealand officials and a former Obama administration official said on Monday.

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World Trade Organization members must start taking active steps on reform to prove the organization can deliver on global issues and stem a slide into irrelevance, Deputy Director-General Alan Wolff argued on Tuesday.

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House Ways & Means Committee Chairman Richard Neal (D-MA) hopes U.S. trade agreements with the United Kingdom and Kenya will be concluded and sent to Capitol Hill for review this year, he said on Tuesday.

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Ambassadors from the European Union and the United Kingdom this week said they hoped the likely confirmation of Katherine Tai as U.S. Trade Representative would allow progress on pressing trade issues including Boeing-Airbus disputes and a U.S.-UK deal.

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