Background

For more information on pursuing trade policy interests through the legislative process, please contact Nicole Bivens Collinson at (202) 730-4956 or via email.

Tariffs. The Countering Economic Coercion Act (S. 295, introduced Feb. 7 by Sens. Young, R-Ind., and Coons, D-Del.) would give the president specific tools to offer rapid economic support to foreign partners targeted by economic coercion and to punish perpetrators. This would include authorities to (1) increase duties on imports from foreign adversaries committing economic coercion, (2) decrease duties on non-import-sensitive goods imported from the foreign partner to make up for lost exports to other nations due to coercive actions, (3) expedite export licensing decisions and regulatory processes to facilitate trade with affected foreign partners, and (4) waive certain policy requirements to facilitate export financing, allowing the U.S. private sector to meet opportunities in foreign economies suffering from coercion.

China. The Ending China’s Developing Nation Status Act (S. 308, introduced Feb. 9 by Sens. Romney, R-Utah, and Van Hollen, D-Md.) aims to prevent the granting of “developing nation” status to China in future treaties and international organizations and directs the State Department to pursue changing the status of China to “developed nation” in treaties or organizations where a mechanism for change exists. Romney noted that “developing nation” status can lead to special privileges and flexibilities that provide longer timelines for implementation of objectives or even financial assistance.

Trade Subcommittee. The following senators have been named to the Senate Finance Committee’s Subcommittee on International Trade, Customs, and Global Competitiveness for the 118th Congress: Democrats Tom Carper (Del.), Ron Wyden (Ore.), Debbie Stabenow (Mich.), Robert Menendez (N.J.), Ben Cardin (Md.), Sherrod Brown (Ohio), Michael Bennet (Col.) Bob Casey (Pa.), Mark Warner (Va.), and Catherine Cortex Masto (Nev.), and Republicans John Cornyn (Texas), John Thune (S.D.), Tim Scott (S.C.), Bill Cassidy (La.), Steve Daines (Mont.), Todd Young (Ind.), John Barasso (Wyo.), Ron Johnson (Wis.), and Thom Tillis (N.C.)

IPR. H.R. 844 (introduced Feb. 6 by Rep. Obernolte, R-Calif.) would allow an owner of a trade secret redress of the theft of trade secrets extraterritorially.

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