Ahead of a meeting of the "Three Amigos" -- the presidents of the U.S. and Mexico and the prime minister of Canada -- Jan. 9-10, business groups that advocate for North American integration said during a Jan. 6 webinar that they're hoping to see more evidence of nearshoring and using North American resources to diversify away from China.
The Treasury Department published its fall 2022 regulatory agenda for CBP. The only new mention of any regulations is a new long-term action that would amend CBP's regulations "pertaining to prior disclosure and to the procedure for demanding payment of duties, taxes, fees, or revenue" when a penalty claim isn't issued. "Amendments are designed to encourage participation in the prior disclosure program and to enhance the effectiveness of the duty/revenue demand process," the agenda said.
Two lawmakers asked the Biden administration this week to begin negotiations on trade deals with Ecuador and Uruguay. Trade agreements with both countries would “capitalize on the bipartisan momentum and success” of USMCA, said Sens. Bob Menendez, D-N.J., and Rob Portman, R-Ohio.
The International Trade Administration will receive a major increase in funding from the last fiscal year, a bump from $559 million to $625 million, the more than 4,000-page annual appropriations bill says. Of that, $16.4 million is dedicated for China antidumping and countervailing duty enforcement and compliance, exactly what the administration asked for (see 2203280048).
The following lawsuits were filed at the Court of International Trade during the weeks of Dec. 5-11 and Dec. 12-18:
The Commerce Department published notices in the Federal Register Dec. 19 on the following AD/CV duty proceedings (any notices that announce changes to AD/CV duty rates, scope, affected firms or effective dates will be detailed in another ITT article):
Two readouts from the administration say that Deputy U.S. Trade Representative Jayme White and Deputy Commerce Secretary Don Graves told a top Canadian official that they are concerned about proposed legislation that would affect digital streaming services, tax digital services and, according to the Office of the U.S. Trade Representative, discriminate against U.S. businesses.
The Inflation Reduction Act creates opportunities for more North American economic integration, according to a Mexican diplomat and a top General Motors official.
Rep. Kevin Brady, R-Texas, the former House Ways and Means Committee chairman who is retiring from Congress at the end of the month, told reporters in a farewell press conference that he thinks, with divided government, the administration will not be able to impose its will in trade and international tax policies by avoiding tariff reductions.
As carmakers, battery companies and critical minerals supply chain players await news from the Treasury Department on the details of how vehicles and batteries will become eligible for electric vehicle tax credits, a major South Korean carmaker sounded the alarm that the new Inflation Reduction Act could make its planned Georgia plant unprofitable.