In his first week in office, President Donald Trump signed a series of documents under his executive authorities on topics ranging from trade to national security to immigration, including on “extreme vetting” of persons from select Arab countries and establishing an indefinite ban on refugees from Syria. Speaker of the House Paul Ryan (R-Wisconsin) also … Continue Reading
On Friday, 20 January, businessman Donald J. Trump was sworn in as the 45th President of the United States of America. At the inauguration ceremony, President Trump stated: From this moment on, it’s going to be America First. Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American … Continue Reading
Following through on one of his campaign promises, on Monday, January 23, President Donald Trump signed a memorandum formally withdrawing the United States from the Trans-Pacific Partnership (TPP) agreement. It is anticipated that President Trump may issue a separate document regarding the United States’ intent to renegotiate the North American Free Trade Agreement (NAFTA) as early as … Continue Reading
Iran – Sanctions Measure Advances. Last week, the Senate passed the Iran Sanctions Extension Act (H.R. 6297) by a vote of 99-0, sending the measure to President Obama’s desk. Members of Congress and Administration officials have said they do not believe renewal of the Iran Sanctions Act (ISA) would violate terms of the nuclear agreement … Continue Reading
Cuba – Fidel Castro Passes Away. In the statement released on 26 November, President Barack Obama said of the former Cuban leader: [W]e extend a hand of friendship to the Cuban people. We know that this moment fills Cubans – in Cuba and in the United States – with powerful emotions, recalling the countless ways … Continue Reading
Donald Trump won the U.S. presidential election against former Secretary of State Hillary Clinton on 8 November in what many are describing as an upset. President-Elect Trump’s transition team is now tasked with vetting possible Cabinet officials and lower-level appointees, receiving background briefings from the Obama Administration, and crafting policy proposals based on his campaign … Continue Reading
Likely Major Policy Developments President-Elect Trump will enter the White House facing a dramatic decline in global trade growth. A recent World Trade Organization (WTO) report notes that 2016 marks the slowest pace of trade and output growth since the 2008 financial crisis. WTO Director-General Roberto Azevêdo called slowing trade growth “a wake-up call,” … Continue Reading
The U.S. House of Representatives will reconvene on Monday, 14 November, and the U.S. Senate the following day. TPP – Administration Still Stumping. In a call on 3 November, Ambassador Froman reiterated the Obama Administration is still aiming for a lame-duck congressional vote on the TPP deal, but he did not offer any details on … Continue Reading
With less than two weeks remaining until Election Day, President Obama started this week, on the campaign trail, advocating for Hillary Clinton to be the next U.S. president. Republican contender Donald Trump is currently trailing in the polls. The U.S. Congress is in recess until after the 8 November elections. The House of Representatives will … Continue Reading
The U.S. Congress is in recess until after the 8 November elections. TPP – Ryan Reiterates No-Go. In an interview last week, Speaker of the House Paul Ryan (R-Wisconsin) reiterated the votes do not exist in the U.S. House of Representatives for the Trans-Pacific Partnership (TPP) deal: Yeah we’re not going to bring that up … Continue Reading
The U.S. Congress is in recess until after the 8 November elections. JASTA – Congress Overturns the Veto. Both chambers of Congress voted last week to override President Obama’s veto of the Justice Against Sponsors of Terrorism Act (JASTA; S. 2040), marking the first time lawmakers have successfully overridden a veto during his eight years … Continue Reading
JASTA – Veto Imminent. Congress formally submitted the Justice Against Sponsors of Terrorism Act (JASTA; S. 2040), to President Obama last Monday. The President has until this Friday to veto the measure, as he has vowed to do. While it remains unclear whether Congress has the necessary votes – two-thirds in both chambers – to … Continue Reading
JASTA – Bill Sent to President. The House voted by voice vote last Friday to advance the Senate-passed JASTA measure to President Obama’s desk for signature into law. Congress acted on a measure that many believe is long-overdue for the victims of the 9/11 attack just ahead of Sunday’s 15th anniversary of the terrorist attack. … Continue Reading
TPP – Opposition Remains Strong. Senate Majority Leader Mitch McConnell (R-Kentucky) stated last week that the U.S. Senate will not vote on TPP’s implementing legislation during lame-duck session of Congress as many – including the Obama Administration – had hoped, saying: The current agreement, the Trans-Pacific agreement, which has some serious flaws, will not be … Continue Reading
GAO Report on Antidumping. House Ways and Means Chairman Kevin Brady (R-TX) released a statement on 15 August in response to the GAO report titled, “Antidumping and Countervailing Duties: CBP Action Needed to Reduce Duty Processing Errors and Mitigate Nonpayment Risk.” He stated: [The] GAO report highlights that the Administration needs to do much more … Continue Reading
TPP – Draft SAA Submitted. Friday’s notification reaffirmed the Obama Administration’s intent to push for Congress to approve the Trans-Pacific Partnership (TPP) deal before the end of the year. The text of the draft Statement of Administrative Action (SAA), which sets out the President’s plans for implementation of the deal, is required to be submitted … Continue Reading
Singapore – Official Head of State Visit. On Tuesday, 2 August, President Obama and Prime Minister Lee met in Washington to discuss bilateral relations between their two countries. The White House released a joint U.S.-Singapore statement detailing cooperative efforts to: (1) support robust economic cooperation and commercial connectivity and drive innovation; (2) enhance security and … Continue Reading
U.S. businessman Donald Trump accepted the Republican presidential nomination last week at the Republican National Convention in Cleveland, Ohio. In his acceptance speech, Mr. Trump called for a “new, fair trade policy that protects our jobs and stands up to countries that cheat.” He also said that he would “make individual deals with individual countries. … Continue Reading
Iran – Legislative Action on New Restrictions. On the one-year anniversary of the Joint Comprehensive Plan of Action (JCPOA) Thursday, President Obama issued a statement saying: “[T]he Iran Deal has succeeded in rolling back Iran’s nuclear program, avoiding further conflict and making us safer.” Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee), along with … Continue Reading
North Korea – Money Laundering Designation. Last week, the U.S. Department of the Treasury designated North Korea as a jurisdiction of “primary money-laundering concern” under Section 311 of the USA Patriot Act on Wednesday. This will allows Washington to further limit North Korea’s access to the U.S. financial system. Under the new designation, non-U.S. banks … Continue Reading
G-7 Leaders’ Declaration. The G-7 Leaders’ Declaration issued on Friday from Ise-Shima, Japan, touched on topics such as the global economy, trade, maritime security, cyberspace, anti-corruption, infrastructure, global health challenges, climate change and female empowerment. The Leaders advocated TPP member states ratify the agreement, while also addressing the global excess steel capacity issue, government subsidies … Continue Reading
TPP – ITC Report Released. Late Wednesday afternoon, the ITC released its report on the effects of the proposed TPP on the U.S. economy. The nearly 800-page report examines specific industry sectors in the United States and seeks to ascertain which would benefit or suffer from the deal. U.S. Trade Representative Michael Froman immediately issued … Continue Reading
Nordic Leaders Summit. In a joint statement released after their meeting last Friday, the leaders of the United States, Denmark, Finland, Iceland, Norway, and Sweden pledged to deepen cooperation on international issues related to security and defense; migration and refugees; climate, energy and the Arctic; and economic growth and global development. The Leaders stressed the … Continue Reading
TPP Developments – Prospects for Congressional Action Dim. The hostile political environment toward trade continues to dim the prospects that Congress would likely move this year on a bill to implement the Trans-Pacific Partnership (TPP). Both leading presidential candidates – Mr. Trump and Secretary Clinton – have stated their opposition to the TPP deal. Secretary … Continue Reading
