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The Advisory Committee on Supply Chain Competitiveness approved March 8 a letter to Commerce Secretary Wilbur Ross making recommendations to improve the competitiveness of U.S. supply chains, increase U.S. exports, and facilitate job growth.
The Commercial Customs Operations Advisory Committee approved March 1 more than a dozen recommendations on how U.S. Customs and Border Protection can continue to develop and improve its revenue modernization initiative. CBP officials said the COAC recommendations are consistent with their efforts and objectives.
The Commercial Customs Operations Advisory Committee approved March 1 a number of recommendations to U.S. Customs and Border Protection on improvements to NAFTA. The U.S., Canada, and Mexico are expected to launch negotiations on updating the agreement within the next few months.
The Trump administration intends to pursue “a new trade policy” that defends U.S. sovereignty, enforces U.S. trade laws, uses leverage to open foreign markets, and negotiates new trade agreements that are fairer and more effective for both the U.S. and the world trading system, according to the annual trade policy agenda the White House submitted to Congress March 2.
Reversing an August 2014 policy change, U.S. Customs and Border Protection is once again allowing post-liquidation claims for preferential duty treatment under certain free trade agreements and preference programs to be filed via administrative protest. In addition, such claims that were previously rejected by CBP may be resubmitted.
A recent Gallup poll found that nearly three-quarters of Americans see foreign trade as an opportunity for U.S. economic growth, a major increase over the figures registered for the past 20 years.
Businessman Wilbur Ross was confirmed as secretary of commerce Feb. 27 by a 72-27 Senate vote. The same day the White House named several senior trade policy advisors to the staff of the National Economic Council.
Mexican Economy Minister Ildefonso Guajardo warned recently that his country will walk out of negotiations to renegotiate NAFTA if the U.S. presses forward with President Trump’s threat to impose tariffs on imports from Mexico.
A controversial overhaul of the U.S. tax code proposed by House Republicans would not put the U.S. at a trade advantage or disadvantage, according to a recent report from independent research organization The Tax Foundation. The plan does offer some potential benefits but also presents challenges.
A total of nearly 5,000 OTIs will need to renew their licenses, a process that will take place over three years with approximately 160 renewals per month. Failure to renew an OTI license could result in its revocation or suspension.
Canadian Foreign Minister Chrystia Freeland and Mexican Foreign Minister Luis Videgaray emphasized that NAFTA is a three-nation agreement and that any changes would have to be addressed in three-way negotiations.
A recent study published by the Centers for Disease Control and Prevention finds that the number of reported disease outbreaks associated with imported foods has increased in both absolute and relative terms over the past 20 years.
Interested parties have only one more week to submit comments to the International Trade Commission on petitions seeking duty suspensions or reductions under the miscellaneous trade bill process revised and reinstated by the American Manufacturing Competitiveness Act of 2016.
In addition to retaining the parts of NAFTA that work, the paper recommends that Trump modernize the agreement to take advantage of new technologies, expand it to encompass sectors excluded from the original deal, and eliminate counterproductive provisions that are detrimental to U.S. interests.