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Comments on the proposed revocations and modifications are due no later than June 2 and the final revocations and modifications will be effective for goods entered or withdrawn from warehouse for consumption on or after July 3.
President Trump has issued an executive order directing new performance reviews of U.S. trade and investment agreements and World Trade Organization rules. These reviews will help guide U.S. trade policy and trade negotiations and could lead to the renegotiation or termination of existing agreements or rules.
The Trump administration’s first annual report on intellectual property rights-related trade barriers adopts the more enforcement-oriented tone that has marked much of the administration’s trade actions to date. The Office of the U.S. Trade Representative’s annual Special 301 report on the adequacy and effectiveness of U.S. trading partners’ IPR protection and enforcement lists 34 trading partners as meriting particular concern.
President Trump has informed the leaders of Canada and Mexico that he has “agreed not to terminate NAFTA at this time,” according to a White House statement. The leaders also “agreed to proceed swiftly … to enable the renegotiation of the NAFTA deal to the benefit of all three countries.”
Press reports indicate that the Department of Commerce may announce April 27 the self-initiation of a section 232 investigation to determine whether imports of foreign-made aluminum are harming U.S. national security. In addition, President Trump is reportedly planning to issue a memorandum directing the DOC to expedite that investigation.
The World Trade Organization has set $163.23 million as the amount of annual trade sanctions Mexico may seek to impose against the U.S. in their long-running dispute over dolphin-safe tuna labeling. However, the retaliation threat could be short-lived if a separate pending decision finds that the U.S. has come into compliance with WTO rules.
Lighthizer’s confirmation by the full Senate, which could come within the next week, could spur progress on Trump administration trade initiatives such as renegotiating NAFTA.
The Securities and Exchange Commission announced April 24 that two former executives of a Hungarian telecommunications company have agreed to financial penalties and employment restrictions to settle charges that they violated the Foreign Corrupt Practices Act.
CBP issues country of origin advisory rulings and final determinations as to whether an article is or would be a product of a designated country or instrumentality for the purposes of granting waivers of certain “Buy American” restrictions in U.S. law or practice for products offered for sale to the U.S. government.
The Bureau of Industry and Security has provided further information about a regulatory requirement that as of April 19 imposes new support documentation requirements on exports of specific controlled items to or through Hong Kong.
President Trump issued April 18 an executive order that a senior administration official said will “usher in a new, more muscular Buy American policy” based on maximizing the use of goods, products, and materials produced in the U.S. This effort aims to promote economic and national security, help stimulate economic growth, and support the U.S. manufacturing and defense industrial bases.
The U.S. trade deficit with Korea has more than doubled since the KORUS agreement took effect in 2012 and President Trump has made reducing trade deficits a top economic priority. Trump has also expressed interest in a bilateral deal with Japan after withdrawing in January from the Trans-Pacific Partnership both countries had negotiated with ten others.
U.S.-China trade tensions could ease somewhat after the Treasury Department’s semiannual foreign exchange rate report declined to name China a currency manipulator. However, China remains one of six countries Treasury has targeted for close scrutiny of their currency practices.
The Department of Commerce has published a report required as part of the revamped miscellaneous trade bill process approved by Congress in 2016. The MTB temporarily reduces or suspends tariffs paid on imported inputs and products for which there is no or insufficient domestic production and availability.
Commerce Secretary Wilbur Ross announced April 11 an “unprecedented action” as part of the Trump administration’s effort to “take swift action against harmful trade practices from foreign nations attempting to take advantage of our markets, workers, and businesses.”