While overshadowed by other remarks during the recent Group of Seven meetings, President Trump suggested that trade agreements could be “much simpler” and that they should eliminate all barriers to trade. The president’s instincts that trade agreements could be both simpler and more comprehensive are correct. Paradoxically, simpler agreements could go further than existing lengthy agreements in … Continue Reading
March 22, 2018 Earlier today, the administration announced its findings that China’s theft of U.S. technologies and intellectual property (“IP”) have caused at least $50 billion in harm to the U.S. economy per year. In response, President Trump issued an order announcing its intent to impose additional tariffs on Chinese imports, curtail Chinese investment in … Continue Reading
On March 19, 2018, the U.S. Department of Commerce published procedures for seeking product-specific exclusions from the tariffs on steel and aluminum announced on March 8, 2018. According to these procedures, an exclusion may be granted only if (1) a particular product is not produced in the United States “in a sufficient and reasonably available … Continue Reading
Following the recent U.S. announcement of tariffs on steel and aluminum imports under Section 232 of the Trade Expansion Act of 1962, the United States is now poised to implement trade sanctions against China stemming from an investigation of that country’s intellectual property (“IP”) practices. Such sanctions, which could include significant and maybe even unprecedented … Continue Reading
On May 18, 2017, newly-confirmed U.S. Trade Representative Robert Lighthizer formally notified Congress that President Trump intends to renegotiate the North American Free Trade Agreement (NAFTA). The Trump Administration has indicated that it will request public input on the “direction, focus, and content” of these negotiations, and will publish notice in the Federal Register regarding … Continue Reading
Just one week after launching a national security investigation of steel imports under Section 232 of the Trade Expansion Act of 1962, President Trump has announced plans to institute a similar investigation regarding aluminum. In a memorandum of April 27, 2017, President Trump announced that the Secretary of Commerce had initiated an investigation under Section … Continue Reading
On April 26, 2017, the U.S.-based solar manufacturer Suniva, Inc. filed a petition for global safeguards with the U.S. International Trade Commission (“ITC”). In particular, Suniva requests the imposition of tariffs on solar cells and the establishment of a minimum price for solar modules imported into the United States. The petition was filed under Section … Continue Reading
On April 20, 2017, President Trump issued a memorandum announcing that the Secretary of Commerce had initiated an investigation to determine the effects of imported steel on national security. The investigation was initiated under Section 232 of the Trade Expansion Act of 1962, as amended. I. Conduct of Section 232 Investigations Under Section 232, Secretary … Continue Reading
On Friday, April 14, the U.S. Department of Treasury published a widely anticipated semi-annual report detailing the foreign exchange practices of America’s major trading partners. Although he regularly called for China to be labeled as a “currency manipulator” as a candidate, President Donald J. Trump and his administration declined to use the occasion of this … Continue Reading
During the 2016 presidential campaign, President Trump made clear his plans to chart a new course on U.S. trade policy. The first few days of his presidency indicate his commitment to follow through on these plans. In his Inaugural Address, President Trump included trade among the policy areas that would be guided by an “America … Continue Reading
President-elect Trump’s expressed interest in possibly raising tariffs on imported goods has prompted considerable effort in trying to understand the scope of Presidential authority to raise tariffs. While the Congress has primary authority to set tariffs and the U.S. has made extensive international commitments to not raise tariffs, President-elect Trump will have a degree of … Continue Reading
The United Steelworkers union (USW) on April 18 filed a petition with the U.S. International Trade Commission (ITC) for the U.S. to invoke a global safeguard under Section 201 of U.S. trade law and impose tariffs of up to 50 percent on primary unwrought aluminum. This proceeding could have significant impacts on global aluminum producers … Continue Reading
We think a new trade enforcement tool is needed that would give US companies an opportunity to seek Trade Enforcement Advisory Opinions from the International Trade Commission (ITC). We describe this proposal in an op-ed piece that was up on Politico today. Our proposal is that Congress should expand its use of Section 332 beyond … Continue Reading
Yesterday, the twelve countries negotiating the Trans-Pacific Partnership Agreement (TPP) announced that they have reached an agreement. While this represents a significant milestone after more than five years of intensive negotiations, there is still a long road ahead before this agreement can enter into force for the United States – from releasing text to the … Continue Reading
Last week’s House vote on Trade Promotion Authority (TPA), which passed 219-211, was no doubt confusing to many of our trading partners. While a majority of the House supported TPA, as a majority of the Senate had last month, the TPA bill was politically and procedurally linked to another bill that would assist workers harmed … Continue Reading
Recent calls by anti-trade groups to abandon investor-state arbitration (often referred to as “investor-state dispute settlement,” or ISDS) ignore the modern reality of the global economy and conjure images of Chicken Little’s warnings that the sky is falling. Investment flows exceeded $1.45 trillion globally in 2013. Of the billions of dollars in cross-border investments in … Continue Reading
Both here and abroad, developments are occurring on the trade policy front. In the United States, the mid-term elections have increased hopes that Congress will pass Trade Promotion Authority (TPA) early next year if not in the lame-duck session. The last few days have been very productive on the WTO front as well. Earlier this … Continue Reading
The President has constitutional authority to negotiate trade agreements. But when the agreements call for changes in US laws, they must be implemented through the Congress. Such legislation is typically considered under special procedures known as “fast track” or Trade Promotion Authority (TPA) whereby Congress agrees to consider the agreement within a limited period of … Continue Reading
The charter of the Export-Import Bank of the United States is due to expire on September 30, 2014. Based on recent events, it is unclear whether Congress will act before this date to extend the charter. The Ex-Im Bank is the official export credit agency of the United States. Its purpose is to support U.S. … Continue Reading
Much has been written about current US-Cuba economic relations and whether the embargo should be ended. However, little has been written about what principles should shape US policy when the tectonic plates of US-Cuba relations eventually begin to shift — whenever that might be. A study released last week by the Peterson Institute for International … Continue Reading
