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The U.S. and Canada announced plans for further trade-related cooperation Feb. 13 while downplaying the prospect of significant changes to NAFTA, which President Trump has said he wants to renegotiate.
During the upcoming conference call committee members are expected to deliberate and vote on separate letters outlining priority recommendations for the Trump administration and recommendations for NAFTA negotiations.
As the U.S., Canada, and Mexico begin preparing for a renegotiation of NAFTA that could get underway this spring, Canadian officials are signaling that while they are open to changes they also intend to staunchly defend the country’s interests.
A recent Government Accountability Office report finds that a lack of reliable data has challenged U.S. Customs and Border Protection’s ability to effectively manage the Customs-Trade Partnership Against Terrorism. CBP responded that it is taking steps to address the shortcomings identified, including developing a new reporting tool.
More than a dozen companies and trade associations have indicated their support for a new Federal Maritime Commission rule or policy preventing marine terminal operators and ocean carriers from charging unfair demurrage and detention fees when uncontrollable incidents such as storms and strikes keep cargo from being picked up from ports on time.
Acting Securities and Exchange Commission Chairman Michael Piwowar has directed SEC staff to consider further relief from the SEC’s conflict minerals rule. Interested parties are encouraged to submit detailed comments to the SEC by March 17.
The lawmakers argued that the freeze runs contrary to Trump’s campaign vow to make enforcement the center of his trade reform plan, particularly given the additional enforcement responsibilities conferred on federal agencies by the Trade Facilitation and Trade Enforcement Act of 2015.
U.S. officials characterized the license as a technical fix designed to ameliorate an unintended impact on U.S. businesses from economic sanctions imposed on Russia by the Obama administration.
Americans for Affordable Products said the BAT would “significantly hurt” U.S. consumers and employers by increasing the cost of everyday products such as food, gas, and clothing by up to 20 percent.
U.S. Customs and Border Protection issued Jan. 31 a message setting forth the different documents it may request to verify duty-free claims under HTSUS 9801.00.10.
President Trump would likely have to secure congressional approval for any substantive changes to U.S. law that would be required to implement a renegotiated NAFTA, according to a recent Congressional Research Service report.
Following a Jan. 27 meeting in Washington, D.C., U.S. President Donald Trump and United Kingdom Prime Minister Theresa May announced plans to work toward a bilateral free trade agreement that could take effect shortly after the UK formally exits the European Union, which is expected to occur in early 2019.
The Trump administration has raised the possibility of imposing tariffs on imports from Mexico as a way to pay for a wall President Trump has pledged to build along the U.S.-Mexico border. However, it remains unclear what the exact nature of such a measure might be, and some businesses and lawmakers are already voicing opposition.
CBP believes the benefits of this initiative will include lowering transaction costs and administrative burdens for importers and filers; limiting the need for brokers to manually pay duties, taxes, and fees at ports or customs houses; and improving the ability to provide filers with an accurate, consolidated view of their financial transactions.