Miscellaneous International Trade Notices
Truth About Trade and Technology reports on a Wall Street Journal article about a showdown brewing between the White House and Capitol Hill over how to best address China's undervalued currency and other alleged unfair trade practices. Though little progress was made on the issue during the recent semiannual economic summit between the U.S. and China, at least one bill sponsored by Senators Schumer and Graham, which is due to be made public in mid-June, is reported to have a chance of passing. Earlier versions of the Schumer-Graham bill had proposed imposing a 27.5% import tariff on all Chinese goods in response to China's failure to boost the yuan's rate. (Truth about Trade and Technology, dated 06/06/07, available at www.truthabouttrade.org/print.asp?id=7674)
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1. New Senate Bill on China's Undervalued Currency Expected Mid-June
2. Cotton Exporters Fear Supply-Chain Problems as Exports Pick Up
The Journal of Commerce reports that cotton exporters fear supply-chain problems as they try to push a large volume of exports through a narrow window this year. Weaknesses in the international supply chain may not have surfaced yet as cotton exports were unusually light in the first six months of the 2006-2007 marketing year due to the demise of the federal subsidy program known as Step 2. (JoC, dated 05/28/07, available at www.joc.com.)
3. U.S. Proposes WTO Permit Use of Zeroing in AD Investigations, Reviews
The Office of the U.S. Trade Representative has issued a press release announcing that the U.S. has submitted a proposal to the World Trade Organization Negotiating Group on Rules to modify the Appellate Body's rulings regarding offsets for non-dumped comparisons in antidumping proceedings, also referred to as "zeroing." The U.S. is urging WTO Members to adopt clear, precise rules permitting the use of zeroing in both investigations and administrative reviews. (USTR press release, dated 06/04/07, available at http://www.ustr.gov/Document_Library/Press_Releases/2007/June/US_Proposes_to_Address_Zeroing_in_World_Trade_Organization_Negotiations.html)
4. Recent CPSC Press Releases on Recalls
The Consumer Product Safety Commission has issued separate press releases (dated 05/01/07 - 05/31/07) announcing that the following companies, in cooperation with the CPSC, are voluntarily recalling the products listed below. Due to the large number of recalls, this is Part III of a three-part series of summaries. (Press releases available at http://www.cpsc.gov/cpscpub/prerel/prerelmay07.html)
Code Legend according to releases: D - Distributor, I - Importer, M - Manufacturer, N/A - Not Applicable, R - Retailer, W - Wholesaler, A - Agent. |