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The White House will suspend plans to levy an additional 25 percent tariff on $50 billion worth of imports from China in response to a Section 301 investigation concluding that Beijing is coercing U.S. companies into transferring their technology and intellectual property to Chinese enterprises.
The European Union has notified to the World Trade Organization two lists of U.S. exports to the 28-member bloc that could be hit with higher tariffs unless the U.S. exempts the EU from additional import duties on steel and aluminum that were imposed as of March 23.
The Trump administration is expected to begin taking steps to ease the United States’ dependency on imports of 35 minerals deemed by the Department of the Interior to be critical to U.S. security and economic prosperity. Such steps are likely to include efforts to reduce imports, boost domestic production, and find viable alternatives.
The Trump administration said May 15 it “will have to move forward with countermeasures” on European Union products if the EU does not end subsidies to large aircraft manufacturer Airbus.
In an unusual move that elicited bipartisan criticism, President Trump said he is directing the Commerce Department to help a Chinese company recently hit with a seven-year export ban “get back into business, fast.”
Dealing with Lacey Act import declaration issues and streamlining imports of fruits and vegetables are among the topics of proposed and final regulations the Department of Agriculture is working to complete this summer.
A trusted trader program for seafood importers and updated rules on routed export transactions are among the regulatory changes the Department of Commerce could advance in the next few months.
Modernizing the customs broker regulations, streamlining the process for enforcing the prohibition on imports made with forced labor, and finalizing a pilot program on air cargo security are among U.S. Customs and Border Protection’s regulatory goals over the next few months. These and other proposed and final rules are included in the semiannual regulatory agendas of the departments of Homeland Security and the Treasury, which list the following regulations affecting international trade that could be issued within the next year.
The Treasury Department’s Office of Foreign Assets Control states that persons engaging in activities undertaken under this relief should take the steps necessary to wind down those activities by Aug. 6 or Nov. 4, as applicable, to avoid exposure to sanctions or enforcement action.
A two-day visit to Beijing by a number of senior Trump administration officials saw the U.S. and China both largely reject each other’s demands on resolving bilateral trade irritants. The two sides agreed to continue discussions but did not specify when they might resume.
A new free trade agreement is offering manufacturers in Hong Kong expanded access to the markets of the ten member countries of the Association of Southeast Asian Nations. The FTA could offer incentives to move production of goods that have significant intellectual property inputs such as designs, copyrights, formulas, etc., from mainland China to Hong Kong.
Authorities and trade industry members in the U.S. and around the world are continuing to take steps to respond to the rapid growth in e-commerce shipments, which poses challenges related to security, revenue collection, and regulatory compliance.
The three ministers met for several days straight in Washington, D.C., recently in an effort to push a revised deal forward, resulting in what Canadian Foreign Minister Chrystia Freeland called “very solid, very positive, very good progress.” Lower-level negotiators are continuing to hold discussions in the meantime.