Revenue from a 10% tariff on all U.S. imports could be offset by a tax cut, and together the two could result in an increase in incomes that would more than offset inflation caused by the tariff hike, according to an analysis released by the Coalition for a Prosperous America on July 24.
The Federal Maritime Commission this week released its final rule on unreasonable carrier conduct, the last step in the FMC’s nearly two-year campaign of crafting regulations to address ocean carriers that unfairly refuse vessel or cargo space to shippers.
Trade ministers from the U.S., the EU, France, Italy, the U.K., Canada, Germany and Japan reiterated that they are committed to revising the World Trade Organization's dispute settlement, monitoring and negotiating functions, and to restoring a fully functioning dispute settlement system by year-end.
The Animal and Plant Health Inspection Service intends to allow imports of leaves and stems of fresh sage from Ethiopia into the continental U.S., it said in a notice. An agency pest risk analysis found that “the application of one or more designated phytosanitary measures will be sufficient to mitigate the risks of introducing or disseminating plant pests or noxious weeds via the importation of leaves and stems of fresh sage from Ethiopia,” APHIS said. If APHIS finalizes the decision, it will allow imports into the U.S., subject to the phytosanitary requirements specified by the agency. Comments will be accepted through Sept. 16.
Although it's possible presidential candidate Donald Trump was just riffing when he proposed eliminating the federal income tax and replacing the revenue with tariffs, the White House Council of Economic Advisers is countering the idea with a white paper it issued July 12.
The administration has added seafood, PVC, which is used in vinyl flooring, and aluminum to its priority enforcement sectors under the Ugyhur Forced Labor Prevention Act, it announced in its strategy update this week. This is the first time priority sectors have been added since the law went into effect two years ago; the original priority sectors of apparel, cotton products, polysilicon and solar panels made from polysilicon, and tomatoes remain.
Witnesses at the annual African Growth and Opportunity Act eligibility review hearing contradicted an earlier comment from the Ethiopian government, which argued that Tigray has been relatively peaceful since November 2022, and basic services such as electricity, water, phone service, education and healthcare have been restored in the region. "Following widespread and substantial reforms of the food assistance structure, which allowed for enhanced oversight and beneficiary selection, USAID resumed food assistance across Ethiopia," Ethiopian representatives wrote.
Sen. Sherrod Brown, D-Ohio, called on the Biden administration to act on a surge in Mexican steel imports that are violating the 2019 Joint Agreement on Steel and Aluminum. The surge is driven by the Chinese government, which is routing steel through Mexico to avoid U.S. tariffs, Brown said in a June 25 letter.
In a bill that Republicans say is "rightsizing agencies and programs," the division of the Commerce Department that handles antidumping and countervailing duties administration would be cut by 5.7% -- $7 million -- from the current fiscal year. The bill also proposes cutting funding of the Office of the U.S. Trade Representative by 8.1% -- $6 million -- from current spending. The International Trade Commission, which manages changes to the Harmonized Tariff Schedule code, provides independent analysis crucial to the AD/CVD process, and manages the Miscellaneous Tariff Bill product nominating process, would get a 5.7% cut, $7 million less than current spending.
Almost 20 trade groups and a handful of companies disagreed on how to ensure supply chain resilience -- many arguing that liberalizing trade with allies is crucial to reduce the likelihood of shortages, or weaponization, but others asserted that friendshoring will undermine domestic production already under stress.