A raft of new legislative measures that would substantially alter the U.S. trade relationship with China were introduced in Congress last week, along with a number of other trade-related bills as well.
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China. The Ending Normal Trade Relations with China Act (S. 906, introduced March 21 by Sen. Hawley, R-Mo.) would withdraw normal trade relations treatment from (and thus increase import tariffs on) products of China.
The Bring American Companies Home Act (H.R. 1704, introduced March 22 by Rep. Green, R-Tenn.) would use tariff revenues collected on goods from China to provide a tax incentive that offsets moving costs for U.S. companies to move their production back to the U.S. from China.
The Keep China Out of Solar Energy Act (S. 968, introduced March 23 by Sen. Scott, R-Fla.) would (1) prohibit federal procurement of solar panels manufactured or assembled by any entity located in, or subject to the influence or control of, China, (2) require an independent study of the domestic market of solar panel production and the global supply chain and workforce involved in solar panel production, (3) etc.
The Documenting Adversarial Trade Aggression Act (S. 970, introduced March 23 by Sens. Wicker, R-Miss., and Cortez Masto, D-Nev.) would direct the Department of Commerce to establish within its Bureau of Economic Analysis a China Economic Data Coordination Center that would collect, synthesize, and report on specified economic data regarding Chinese financial markets and U.S. exposure to risks in China's financial system.
Trade Policy. The American Economic Diplomacy Act (S. 958, introduced March 24 by Sens. Lankford, R-Okla., and Menendez, D-N.J.) would ensure that the White House’s annual trade agenda aligns with, reflects, and advances U.S. foreign policy and national security objectives. “This year’s Annual Trade Agenda reads more like activism instead of offering a clear connection to our national defense and foreign policy objectives,” said Lankford. “Our trade policy should focus on opening up new markets for American agriculture and businesses, reducing our reliance on China for critical supply chains, and building on the positive national security and diplomatic gains from the Abraham Accords, while promoting the unalienable right of religious freedom worldwide. We should set clear trade parameters so the right hand of … any future administration knows what the left hand is doing to maximize our national security and our trade goals at the same time.”
S. 913 (introduced March 22 by Sen. Risch, R-Idaho) would make Ecuador eligible for designation as a beneficiary country under the Caribbean Basin Economic Recovery Act.
H.R. 1755 (introduced March 23 by Rep. Kelly, R-Miss.) would authorize the extension of normal trade relations treatment to products of Uzbekistan.
Exports. The Lower Energy Costs Act (S. 947, introduced March 22 by Sen. Kennedy, R-La.) would repeal all restrictions on the import and export of natural gas, express congressional opposition to restrictions on the export of crude oil or other petroleum products, and make other related changes.
The House Energy and Commerce Committee amended and reported March 23 the Unlocking our Domestic LNG Potential Act (H.R. 1130), which would repeal restrictions on the export and import of natural gas, and H.Con.Res. 17, which expresses the sense of Congress that the federal government should not impose any restrictions on the export of crude oil or other petroleum products.
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