CBP issued the following releases on commercial trade and related matters:
If the Office of the U.S. Trade Representative decides that China's subsidies to its shipbuilding industry burden U.S. commerce through a range of unreasonable or discriminatory acts, a coalition of unions suggests it impose a fee on Chinese ships arriving at U.S. ports (see 2404170029). During a Washington International Trade Association webinar on the new Section 301 investigation, former USTR associate general counsel David Ross said China's subsidies are evident but the remedy is not.
A career staffer in the Office of the U.S. Trade Representative whose portfolio includes the auto industry told an audience of auto industry supply chain professionals that it's likely the U.S. will be talking with Mexico about the increased foreign direct investment from Chinese companies manufacturing auto parts or, potentially, assembling vehicles, in Mexico.
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.
China announced that it is "firmly opposed" to both the U.S. decision to open a new Section 301 investigation on allegedly unfair practices in China's maritime, logistics and shipbuilding sectors (see 2404170029) and President Joe Biden's call for a "tripling" of the existing Section 301 tariffs on Chinese steel and aluminum (see 2404170040).
Although all members of the House Ways and Means Committee supported a bill renewing the Generalized System of Preferences benefits program, the bill proceeded to the House floor on a split bipartisan vote of 17-24 as Democrats unsuccessfully called to include an extension of the Trade Adjustment Assistance for Workers program, which lapsed in 2022.
After October's deadline passed without an agreement between the U.S. and the EU on a global trade deal for steel and aluminum (see 2404040034), talks are still ongoing, the European Commission’s top trade official said during a news conference April 18.
U.S. Trade Representative Katherine Tai gave testimony April 17 to the Senate Finance Committee regarding President Joe Biden’s 2024 trade policy agenda. She touched mainly on trade deal enforcement, U.S. exporters’ access to new markets and the USTR’s new stance on digital trade, though she also discussed issues such as forced labor and the upcoming legislation on the Generalized System of Preferences benefits program.
The Office of the U.S. Trade Representative is beginning a new Section 301 investigation on alleged unfair practices in China’s maritime, logistics and shipbuilding sectors, the agency said in a news release April 17.
President Joe Biden on April 17 called for a “tripling” of Section 301 tariffs on Chinese steel and aluminum, urging the Office of the U.S. Trade Representative to “consider” the increase from the current average 7.5% rate in its ongoing review of Section 301 tariffs.