For more information on how these developments may affect your business, please contact Nicole Bivens Collinson at (202) 730-4956 or via email.
APEP
Participants in the Americas Partnership for Economic Prosperity met Feb. 12-13 as the Council on Trade and Competitiveness to begin establishing committees and working groups to advance the implementation of trade-related elements of the priorities identified in November 2023. Specifically, they established the Trade Rules and Transparency, Trade and Sustainable Value and Supply Chains, and Inclusive Trade and SMEs committees. They also considered proposals for a workplan under the trade rules committee focused on activities (1) to implement and build upon the World Trade Organization Trade Facilitation Agreement and (2) focused specifically on the digitalization of import documents.
The CTC intends to meet regularly, including in person at least twice annually, and will continue developing projects to realize APEP’s goals of deeper economic integration and sustainable and inclusive trade and investment.
Mexico
In a Feb. 16 conversation U.S. Trade Representative Katherine stressed to Mexico’s Secretary of Economy Raquel Buenrostro “the urgent need for Mexico to take immediate and meaningful steps to address the ongoing surge of Mexican steel and aluminum exports to the United States and the lack of transparency regarding Mexico’s steel and aluminum imports from third countries.” Tai noted that bilateral consultations on this matter have been ongoing for over a year and warned of the possible reimposition of Section 232 tariffs on steel and aluminum goods from Mexico.
Peru
At the sixth meeting of the U.S.-Peru Free Trade Commission held Feb. 15 in Lima, the two sides worked to develop trade-neutral changes to the FTA-specific rules of origin that will be aligned with adjustments resulting from Harmonized System 2022 and plan to implement the revised rules on Jan. 1, 2025. In addition, technical experts on customs administration and trade facilitation agreed to (1) launch one working group to study information request procedures and (2) exchange experiences on customs and border operation best practices. Other topics of discussion included effective implementation of the FTA labor chapter and how to deepen cooperation on labor issues, strengthening environmental protections and encouraging more resource-efficient and circular economies, and FTA implementation issues in Peru in the area of intellectual property. The two sides also shared views on agricultural biotechnology, e-commerce, and food safety regulations.
Uruguay
During the second U.S.-Uruguay Annual Bilateral Inter-Ministerial Dialogue held Feb. 15, the two sides agreed, among other things, to further improve bilateral trade and investment conditions, including an expedited resolution of the ongoing review of agricultural sanitary processes.
FTAs
India and Peru resumed negotiations on a bilateral free trade agreement this month after a three-plus-year pause. According to a Mint article, the talks are covering topics like trade in goods, rules of origin, customs procedures, trade facilitation, dispute settlement, technical barriers to trade, and trade remedies.
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