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In the News: China Tariffs, NAFTA, Foreign Investment, India

Monday, August 06, 2018
Sandler, Travis & Rosenberg Trade Report

China threatens new tariffs on $60 billion of U.S. goods

The latest Chinese tariffs would, if implemented, be up to 25 percent, and cover 5,207 tariff categories, the country’s commerce ministry said in a statement on its website.

[New York Times]

Mexico touts progress in NAFTA talks with U.S., but toughest issues remain

“Ildefonso Guajardo said after leaving a meeting with U.S. Trade Representative Robert Lighthizer that the group had yet to discuss issues such as the ‘sunset clause,’ a provision sought by the United States under which the agreement would have to be renegotiated every five years. But he was upbeat about the group’s progress. ‘There are a lot of things, at least 20 items, that have been worked through, and there is very good advancement in all of them,’ he said.”

[Reuters]

Congress strengthens reviews of Chinese and other foreign investments

“Cfius’s expanded jurisdiction will give it a say in deals beyond mergers and acquisitions. Under the bill, joint ventures, minority stakes, and real estate transactions near military bases or other sensitive national security facilities all could be investigated — and potentially squashed — by Cfius. Cfius will also be able to expand the kinds of risks it can consider — not just national security but also the United States’ competitive edge in emerging industries.”

[New York Times]

India defers retaliatory tariffs against U.S. goods by 45 days

“The move comes at a time when the US on Monday elevated India’s status by placing it in the Strategic Trade Authorization (STA) Tier 1 list—comparable to North Atlantic Treaty Organization (Nato) allies—that eases export of high-tech defence items to it without individual licenses. … India and the US will also hold the much delayed first ‘2+2’ dialogue among their foreign and defence ministers on 6 September when US secretary of state Mike Pompeo and defence secretary James Mattis are scheduled to visit India for the talks.”

[LiveMint]

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