Coalition for a Prosperous America trade counsel Charles Benoit slammed Sen. Mike Crapo, R-Idaho, calling him "chief betrayer" for the trade title he was integral in shaping in the Senate China package, known as the U.S. Innovation and Competition Act or USICA. In an April 14 blog post, Benoit said that Crapo, the top Republican on the Senate Finance Committee, is "laser focused on making imports as cheap and easy as possible." Benoit said that "USICA’s trade title is cancerous to its core -- akin to committing economic treason against American workers and industry." He said the Section 301 exclusion process requirements are the worst, but he also criticized the Miscellaneous Tariff Bill renewal, which would continue the ability of finished goods to qualify for unilateral tariff reduction or elimination. "If Republicans don’t abandon his betrayal of our nation, the GOP will spend another decade tarnished as the party of globalization, big tech, and the hollowing out of our country," Benoit wrote. Crapo's office declined to comment.
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.
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.
Rep. Kevin Brady, the top Republican on the House Ways and Means Committee, said that when Republicans meet privately with U.S. Trade Representative Katherine Tai ahead of her testimony March 30, they will argue that the Section 301 exclusions announced last week (see 2203230070) were far too limited.
After the Office of the U.S. Trade Representative agreed to reinstate 64% of expired Section 301 tariff exclusions (see 2203230070), business interests said it should go further, while the Coalition for a Prosperous America said the decision was wrongheaded.
The Office of the U.S. Trade Representative on March 23 announced the extension of 352 exclusions from Section 301 tariffs on China. The exclusions, all of which had expired, resume effect as of Oct. 12, 2021, and will remain in effect through Dec. 31, 2022, USTR said.
The U.S. Trade Representative on March 23 announced the extension of 352 exclusions from Section 301 tariffs on China. The exclusions, all of which had expired, resume effect as of Oct. 12, 2021, and will remain in effect through Dec. 31, 2022, USTR said.
The National Electrical Manufacturers Association is asking House and Senate leadership to "expeditiously advance" a compromise China package by resolving differences between the U.S. Innovation and Competition Act (USICA) and the America Creating Opportunities for Manufacturing Pre-Eminence in Technology and Economic Strength (America Competes) Act.
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 passed its China package, the America Competes Act, on a nearly party-line vote, with one Democrat dissenting and one Republican voting for it. The America Competes Act and the Senate's U.S. Innovation and Competition Act both propose subsidizing American semiconductor manufacturing and both propose investing in science research to better counter China's play for technological dominance, but the House version spends far more money and includes some priorities that the Senate did not, such as $2 billion annually for climate change foreign assistance and a generous reauthorization of Trade Adjustment Assistance. The vote was 221-210.