U.S. Trade Representative Robert Lighthizer told two senators concerned about retaliatory tariffs in India that the U.S. is working on restoring India to the Generalized System of Preferences benefits program, but that it's slow going. “We’re in the process of restoring it if we can get an adequate counterbalancing proposal from them,” he told Sen. Maria Cantwell, D-Wash., who had complained that American apples are now taxed at 70% in India because of Section 232 tariffs on metals from that country.
Lawmakers should act quickly to renew the Generalized System of Preferences benefits program before it expires at the end of 2020, more than 200 companies and trade associations said in a June 16 letter to the leaders of the House Ways and Means and Senate Finance committees. “Further uncertainty about whether companies will have to pay millions of dollars a day in new taxes in January 2021 is the last thing the American business community needs,” they said.
Any future Section 301 exclusion renewals will only last until the end of the year, U.S. Trade Representative Robert Lighthizer told the House Ways and Means Committee as he testified June 17 about the administration's trade agenda, adding that “they will decide what happens after that.”
International Trade Today is providing readers with some of the top stories for June 1-5 in case they were missed.
Rep. Ron Kind, one of the leading pro-trade voices in the Democratic caucus, told the Washington International Trade Association that Trade Promotion Authority will not get a renewal vote this year. The legislation, which allows fast-track approval of trade agreements, is good through June 30, 2021. “That might be a reach too far, here in this election cycle,” he said in an online interview with WITA on June 3. “I think we’ll have to wait and see how the dust settles in November.”
International Trade Today is providing readers with some of the top stories for May 26-29 in case they were missed.
The International Trade Commission published notices in the May 27 Federal Register on the following AD/CV injury, Section 337 patent and other trade proceedings (any notices that warrant a more detailed summary will be in another ITT article):
The International Trade Commission is launching an investigation into possible additions and removals of products from the Generalized System of Preferences benefits program, it said in a May 21 press release. Conducted in response to a request from the U.S. trade representative, the investigation will inform USTR’s decisions on product eligibility in the ongoing 2020 GSP annual review. ITC and the USTR will also in the review consider whether to grant requests for de minimis and competitive need limitations waivers.
CBP issued the following releases on commercial trade and related matters:
The Office of the U.S. Trade Representative will accept comments on whether various kinds of rice should be removed from the list of products under the Generalized System of Preferences benefits program, and whether roses should be added. Comments are due May 27. Instead of an in-person hearing, due to the COVID-19 prevention guidelines the GSP Subcommittee of the Trade Policy Staff Committee instead will respond to petitioners and commenters with any questions, and they will have time to reply to the subcommittee.