On May 23, 2011, the President issued a Proclamation making certain amendments to the Harmonized Tariff Schedule to implement certain rules of origin changes for the Singapore free trade agreement, revise the tariff treatment for ethyl alcohol from Peru, and make technical corrections for NAFTA.
On March 30, 2011, the House Ways and Means Committee’s Trade Subcommittee held a hearing on the Panama free trade agreement. According to an Administration witness, Panama is close to completing work on its outstanding FTA issues. Once those issues are addressed, the Administration will be ready to prepare the Panama FTA for Congressional consideration.
During President Obama’s March 19-21, 2011 visit to Brazil, the U.S. and Brazil signed a new agreement to promote trade cooperation, completed an agreement for a formalized Economic and Financial Dialogue, signed an Open Skies aviation agreement, and generally worked to elevate U.S.-Brazil engagement.
The following are details of the March 11-13, 2011 senior officials’ meeting of the 21 members of the Asia-Pacific Economic Cooperation forum in which officials discussed economic integration, trade expansion, promoting green growth and regulatory cooperation.
On March 3, 2011, the White House announced that the U.S. and Mexico have finalized the Terms of Reference for the High-Level Regulatory Cooperation Council, which the two countries agreed to establish in May 2010.
On March 4, 2011, U.S. Secretary of Agriculture Tom Vilsack provided additional details about the recent meeting between the U.S. and Mexican presidents regarding the proposed agreement to resolve the U.S.-Mexico cross-border long-haul trucking dispute.
During the March 3, 2011 visit by Mexican President Calderón to the White House, the U.S. and Mexico announced that they have found a clear path to resolving the cross-border long-haul trucking dispute. According to a White House fact sheet, this agreement will allow for the establishment of a reciprocal, phased-in program built on the highest safety standards that will authorize both Mexican and U.S. long-haul carriers to engage in cross-border operations under NAFTA.
At its February 16, 2011 meeting, the Federal Maritime Commission voted to take several steps to reduce regulatory burdens, including approving by a 3-1 vote a draft final rule to allow licensed non-vessel-operating common carriers (NVOCCs) that enter into Negotiated Rate Agreements with their customers to be exempt from the requirement of publishing their rates in tariffs if they meet certain conditions.
The amended version of H.R. 6517, the Omnibus Trade Act, which was passed by the House and Senate on December 22, 2010, is now available. This measure has been cleared for the White House, and the President is expected to sign it into law.
On December 3, 2010, President Obama announced that the U.S. and South Korea have successfully resolved the outstanding issues with the U.S. - Korea Free Trade Agreement (KORUS FTA), setting the stage for consideration of the agreement by Congress in the coming months.