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In the News: USMCA, Customs Brokers, U.S.-India Deal, Korea-Japan Trade

Thursday, September 19, 2019
Sandler, Travis & Rosenberg Trade Report

Top U.S. trade official submits USMCA ideas to Democrats

“The long-awaited response from U.S. Trade Representative Robert Lighthizer sets the stage for weeks of intense negotiations before a congressional vote on the agreement that will replace the North American Free Trade Agreement. Democrats, who control the House, said they would decide on next steps after reviewing the administration’s response to the written recommendations they had submitted in July on how to strengthen the proposed trade pact.”

[Reuters]

Customs brokers lobby for change to U.S. bankruptcy law

“Under the current law, a customs broker may be ordered by the bankruptcy trustee to give back money paid to it by the insolvent importer during the past 90 days. It does not matter to the bankruptcy trustee whether that money has already been paid to Customs and Border Protection (CBP) to cover import duties.”

[American Shipper]

U.S., India on verge of trade agreement breakthrough, officials say

“The proposal would restore India's status as a beneficiary of the Generalized System of Preferences program, or GSP, thereby lowering the price of many Indian-made goods in the United States. In exchange, Modi would agree to make it easier for American companies to work in India in a few key sectors.”

[Washington Examiner]

Korea removes Japan from fast-track trade list

“Tokyo's removal from a so-called ‘white list’ of nations enjoying minimal trade restrictions means South Korean companies would have to wait as many as 15 days to win approval to export sensitive materials to Japan, compared to five days under the fast track status.”

[Voice of America]

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