In a bill that Republicans say is "rightsizing agencies and programs," the division of the Commerce Department that handles antidumping and countervailing duties administration would be cut by 5.7% -- $7 million -- from the current fiscal year. The bill also proposes cutting funding of the Office of the U.S. Trade Representative by 8.1% -- $6 million -- from current spending. The International Trade Commission, which manages changes to the Harmonized Tariff Schedule code, provides independent analysis crucial to the AD/CVD process, and manages the Miscellaneous Tariff Bill product nominating process, would get a 5.7% cut, $7 million less than current spending.
The official proclamation implementing an announcement in mid-May on changes to the 14.25% tariffs on imported solar panels and the tariff rate quotas on imported cells was issued by the White House on June 21.
Former President Donald Trump, meeting with Republicans in Congress June 13, told them he would consider eliminating the income tax and replacing it with tariff revenue if he is reelected. While Trump has floated putting a 10% tariff on all imports, and a 60% tariff on Chinese imports, but that would not raise enough revenue to replace the income tax.
Trade groups representing steel pipe and tube producers, along with Optimus Steel, Zekelman Industries, Atkore and the Coalition for a Prosperous America are asking the president to either reimpose tariffs on Mexican steel under Section 232, or impose quotas that reduce the import of products that are now imported in greater quantities than before 2017.
There was no disagreement at a June 12 hearing on the need to renew the African Growth and Opportunity Act before it expires about 15 months from now, and Democrats and Republicans on the House Ways and Means Subcommittee on Trade also talked about changing the terms of "graduation" from AGOA. Democrats on the committee were more vocal than members of the Republican majority about the need to change AGOA before renewing it.
Sen. James Lankford, R-Okla., told a think tank audience that the U.S. needs to negotiate and Congress needs to ratify new broad trade agreements, so that the U.S. can develop long-term sources of processed minerals needed for electrification.
The Biden administration's proposed Section 301 tariff hikes on various Chinese goods (see 2405220072) would continue to skirt World Trade Organization commitments and strip the global economy of international tribunals, which are key to curbing "persistent protectionism," said George Washington Law School professor Steve Charnovitz in comments on the proposed tariffs.
The White House on May 31 extended a one-year exception for 25% tariffs on steel from Ukraine, one day before the waiver was set to expire (see 2205310061. This will be the third year Ukrainian steel has been allowed to avoid the tariffs.
Government subsidies for domestic manufacturing in strategic sectors tend to then need trade protections, former top U.S. trade representative officials from the Trump and Biden administrations agreed.
After House Ways and Means Committee Chairman Jason Smith, R-Mo., met with Kenyan President William Ruto, he joined the Senate Finance Committee chairman's call to negotiate a trade liberalizing free trade agreement with Kenya. Finance Committee Chair Sen. Ron Wyden, D-Ore., earlier in the week asked the Office of the U.S. Trade Representative to upgrade its trade negotiations with Kenya so that it's working toward a goal of a comprehensive trade agreement (see 2405210051).