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As of January 2021, many imports and exports of agricultural products covered by EU tariff quotas will be subject to the new licensing rules of Commission Delegated Regulation (EU) 2020/760 (“Delegated Regulation”) and Commission Implementing Regulation (EU) 2020/761 (“Implementing Regulation”) (together, “Licensing Regulations” or “Regulations”).  The new Regulations introduce significant changes to – and are

On May 28, 2020, the Commodity Futures Trading Commission (CFTC) unanimously approved an interim final rule in order to grant an extension of the compliance schedule for uncleared swaps in response to the many operational challenges entities are facing in the wake of the COVID-19 (coronavirus) pandemic. It also approved a proposed rule exempting certain

On June 3, 2020, the Office of the U.S. Trade Representative released the Uniform Regulations elaborating on the rules of origin in the United States-Mexico-Canada Agreement (“USMCA”). As the USMCA is slated to enter into force on July 1, 2020, the Uniform Regulations reflect the three parties’ consensus on how the USMCA’s rules of origin

It has been publicly reported that discussions are underway within the Trump Administration for a coordinated interagency initiative to remove key industrial supply chain dependencies from overseas, especially China, and redouble efforts to secure such supply chains in the United States. While this initiative proceeds alongside ongoing efforts to secure supply chains in sectors such

The German government has proposed a new draft bill reforming the current foreign direct investment (“FDI”) regime, which is likely to have a significant impact on all M&A transactions involving acquisitions of 10% or more of the voting rights in German companies active in “critical infrastructures” and “critical technologies” by any non-EU investors. Under the

Tim Stratford delivered this testimony before the the U.S. House Committee on Ways and Means February 26, 2020:

Chairman Neal, Ranking Member Brady, and distinguished members of this committee, thank you for the opportunity to share my assessment of the U.S.-China economic relationship following conclusion of the Phase One trade agreement between our two countries.

Over the past 38 years I have devoted my career to promoting fair and beneficial trade relations between the United States and China, because it’s seemed to me that getting this relationship right is one of the most consequential tasks and challenges of our time. I have done this as a lawyer, U.S. diplomat, general counsel of a major American company’s operations in China, and as three term chairman of the American Chamber of Commerce in China. As a former U.S. trade negotiator, I salute the extraordinary efforts of our negotiators today and understand the daunting challenges they face.

I would like first to discuss the trade policy issues that have negatively impacted this incredibly important relationship, and the extent to which they are addressed in the Phase One agreement. I would then like to discuss the agreement’s place within the context of the overall U.S.-China economic relationship, which is increasingly defined by competition and increasingly inseparable from national security considerations. Finally, I would like to offer some thoughts on lessons learned, as well as on U.S. objectives over the coming months and years and possible approaches for achieving them.

Issues in the U.S.-China Trade Relationship

As I see it, U.S. trade negotiators have confronted three types of issues with China, with the three types listed below in ascending order of difficulty and criticality:


Continue Reading US-China Economic Relationship

Because labor-related obligations in existing U.S. trade agreements are general and largely hortatory, few enforcement actions have been taken with regard to these obligations. The labor obligations in the Agreement between the United States of America, the United Mexican States and Canada (“USMCA” or “Agreement”), however, are specific and likely to be enforced. In

On January 15, 2020, President Trump and Chinese Vice Premier Liu He signed the much-anticipated “Phase One” trade agreement between the U.S. and China. Set to take effect no later than February 14, 2020, the “Economic and Trade Agreement Between the United States of America and the People’s Republic of China” (the “Agreement”) is the

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