According to a Washington File report, the Treasury Department has found that no major U.S. trading partner manipulated its currency in the last six months of 2003 to gain unfair competitive advantage or prevent balance of payment adjustments. Treasury's report also reiterated the U.S. position endorsed by major industrialized countries that a pegged exchange rate policy is not appropriate for a major economy such as China. (Washington File Pub 04/16/04, available at http://usinfo.state.gov/xarchives/display.html?p=washfile-english&y=2004&m=April&x=20040416122714SAikceinawz4.645938e-02&t=livefeeds/wf-latest.html)
U.S. Customs and Border Protection (CBP) has issued a document entitled, Importation of Rough Diamonds which, among other things, explains what importers need to know about the Clean Diamond Trade Act and the Office of Foreign Assets Control's (OFAC's) interim regulations implementing this Act, etc.
According to Washington Trade Daily, negotiations are ongoing for the following proposed free trade agreements (FTAs): U.S. Central-American (ongoing with Dominican Republic; completed with Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua), Free Trade Area of the Americas, U.S.-Southern African Customs Union, U.S.-Morocco, U.S.-Bahrain, U.S.-Thailand, U.S.-Andean nations, and U.S.-Panama. The article also states that the U.S.-Australia FTA has already been negotiated and is pending implementation. (WTD dated 02/14/04-02/15/04, www.washingtontradedaily.com)
On December 22, 2003, Senate Finance Committee Chairman Chuck Grassley and Ranking Member Max Baucus sent a letter expressing concerns about the ability of the Office of Foreign Assets Control to cut off terrorist financing.
According to The Journal of Commerce, the submission to the Coast Guard of vessel and facility security plans by December 31, 2003 was only the first step as the crucial deadline is July 1, 2004, when vessels and shoreside facilities must have their security plans in operation. The article states that the Coast Guard plans to review the port security plans during the January-March 2003 time frame and by July 1, 2004, port facilities have to be operating in compliance. After that time, the Coast Guard will make unscheduled facility visits to make sure the plans are in operation. (JoC dated 01/12-18/04, www.joc.com.)