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South Korea should be prepared to challenge national security-based import restrictions on Korean autos and auto parts at the World Trade Organization and elsewhere because such duties are “not logical,” a former senior Korean trade official said on Wednesday.
“It’s very vital for Japan to maintain independent monetary policy.”
“The United States has a substantial trade interest in these consultations. They concern certain measures related to the ability of foreign intellectual property rights holders to protect their intellectual property rights in China.”
The U.S. Chamber of Commerce and the American Chamber of Commerce in China have released a sweeping set of recommendations for how U.S. officials might address “Made in China 2025” concerns and secure a “properly” crafted agreement with Beijing.
“Our markets are so volatile right now because of a statement that's made here or there and we're sitting here with our beans hoping that we can go back to normal trade.”
Lighthizer, Mnuchin invite Vice Premier Liu He to Washington.
“Tech companies in the U.S. will have to absorb that and cut back in R&D when what they want us to do is lead in innovation.”
“If the duty rate ... is raised to 25 percent, USTR will initiate an appropriate exclusion process,” Lighthizer told Sen. Tim Kaine (D-VA).
PIIE's Gary Hufbauer says the U.S. agenda “demands many concessions from Japan that Prime Minister Shinzo Abe is likely to reject.”
The latest draft of the Commerce Department’s Section 232 report on the national security implications of auto and auto parts imports includes three different remedy options President Trump could consider as he weighs whether to impose import restrictions, industry sources tell Inside U.S. Trade.
Trade ministers from the U.S., EU and Japan focused on non-market oriented policies and practices during a meeting in Washington, DC, this week, and instructed staff to finalize text on industrial subsidies in hopes of engaging other World Trade Organization members on the issue this spring, according to a joint statement.
“The main compliment of the KORUS FTA was on the automobile sector. And to be frank, we don’t think it makes much sense if it applies to Korea because we accommodated most of the demands on the U.S. side on automobiles.”