Asia

“A new pact, with more members and upgraded rights and obligations, could offer a potentially larger windfall,” writes PIIE’s Jeffrey Schott.

The U.S. has maintained a block on filling Appellate Body vacancies since mid-2017.

The Commerce Department on Tuesday issued preliminary countervailing duties on Chinese twist ties, claiming Chinese producers benefit from an undervalued renminbi. 

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.

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.

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.

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.

The 14 items include Australia’s rejection of Chinese investment projects for national security reasons and its decision to ban Huawei and ZTE from its 5G network.

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.