International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
Large U.S. multinationals are more pessimistic about doing business in China than they have ever been, but it's not because they have come to expect the Section 301 tariffs will never go away. Rather, the annual U.S.-China Business Council membership survey found that lockdowns to control COVID-19 are the top problem for companies doing business in China, with 96% of respondents saying the lockdowns hurt their firms, and 48% saying that there was a severe negative impact.
Deputy U.S. Trade Representative Jayme White emphasized the importance of Mexico blocking the import of goods made with forced labor, the importance of a science- and risk-based regulatory approval process for agricultural biotechnology, implementation of labor reform and the importance of hearing from stakeholders as new regulations are developed, according to a readout of his Aug. 23 meeting with Mexico's Under Secretary for Foreign Trade, Luz Maria de la Mora. The Mexican government didn't release a readout of what was discussed during the video call.
The Commercial Customs Operations Advisory Committee (COAC) for CBP will next meet remotely Sept. 14, CBP said in a notice. Comments are due in writing by Sept. 9.
Until recently, unless they were trying to comply with a stringent rule of origin, or they were a producer in an industry with high safety needs, most buyers did not have visibility deep into their supply chains. But new government requirements and coronavirus-related disruptions have placed newfound importance on supply chain awareness, said speakers during a webinar.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
New forced labor requirements for Customs Trade Partnership Against Terrorism (CTPAT) members may change the calculus for determining whether participation is worth it, said Sidley Austin lawyer Ted Murphy, in an Aug. 22 note. He reminded companies that if the shifting requirements become more costly than participation is worth, they can leave the program.
CBP detained 2,010 shipments due to withhold release orders through June 30, the agency said in an update to its trade statistics page Aug. 19. CBP detained 1,469 shipments related to the WROs in fiscal year 2021. The value of the detained goods stopped in FY 2022 through June 30 is $357.8 million, it said. The value of detained goods in the previous fiscal year was $486 million.
The U.S. and Taiwan this week agreed to soon begin trade talks under a new initiative aimed at increasing trade in goods and removing “discriminatory barriers,” the Office of U.S. Trade Representative said. The negotiations, which USTR said are set to begin “early this fall,” also will include discussions on trade facilitation measures, anti-corruption, agriculture, technology standards, digital trade, labor and non-market policies. The U.S. and Taiwan plan to “pursue an ambitious schedule” for the talks, Deputy USTR Sarah Bianchi said, adding the discussions will result in a “fairer, more prosperous and resilient 21st century economy.”
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.