The New Democrat Coalition, a caucus of pro-free trade Democrats, publicly released a letter to the president asking him to change course on trade, and work on traditional free trade agreements that lower tariffs and go through congressional approval. President Joe Biden has declined to work on any trade-liberalizing FTAs, saying that deals that can be negotiated more quickly that address supply chains, trade facilitation and other non-tariff barriers are more fit for today's challenges.
Sen. Chris Coons, D-Del., who earlier said the priority should be renewing the African Growth and Opportunity Act "as soon as possible and for a lengthy period," rather than making reforms to the trade preference program, has now put out a "discussion draft" that lays out some reform proposals.
Mauritania will participate in the African Growth and Opportunity Act program and receive benefits next year, since it has made progress in ending hereditary slavery, but Ethiopia, which was expelled from participation due to human rights violations during a rebel uprising, won't be allowed back in.
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The Generalized System of Preferences benefits program has been gone for nearly three years, but two members of the House of Representatives want tires removed from the product list when the trade program returns.
House Ways and Means Trade Subcommittee Chairman Adrian Smith, R-Neb., underscored the need to lower tariffs through the Generalized System of Preferences benefits program for American businesses during high inflation at a hearing on reforming GSP, and asked his colleagues to "move forward with open minds and the urge to get things done."
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.
The House Ways and Means Trade Subcommittee will hold a hearing on "Reforming the Generalized System of Preferences to Safeguard U.S. Supply Chains and Combat China" on Sept. 20 at 2 p.m. EDT. Witnesses have not yet been announced.
Two members of the House of Representatives asked the House Ways and Means Committee to renew the Generalized System of Preferences benefits program, and several others also advocated for trade policies on the day that the committee welcomed other members to advocate for their priorities.
Vice President Kamala Harris talked about critical minerals with Indonesia's president and resilient supply chains with him and the president of the Philippines and prime minister of Japan during meetings in Jakarta this week on the sidelines of the biannual meeting of the Association of Southeast Asian Nations, or ASEAN Summit.