On 21 September 2017, the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada entered into force provisionally.… 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
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 apparent race for African trade continues to intensify with African Growth & Opportunity Act (AGOA) Forum taking place in Washington the last week in September and the European Parliament approving further trade agreements with six African states earlier in October. Frank Samolis and Stacy Swanson discuss the need for greater international cooperation in relation to … 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 returns to Washington on Tuesday after a six-week recess. On Monday, Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee) issued a statement on the perceived lack of strong U.S. leadership, setting the stage for potentially-increased Republican oversight this fall: Just as we saw our allies in Europe dissing us over the … Continue Reading
Russia – Hacking Allegations; FBI Investigates. Last week, law enforcement officials reported the FBI and Justice Department are investigating a hack of Hillary Clinton’s presidential campaign computers, along with their investigations into previously-reported cyber intrusions of the Democratic National Committee (DNC). Some U.S. officials suggested last week that there is strong evidence indicating the DNC … 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 – New U.S. Sanctions Announced. On Wednesday, the Obama Administration announced sanctions designations targeting senior North Korean officials, including Kim Jong Un. The U.S. Department of State issued a report identifying individuals and entities responsible or associated with serious human rights abuses or censorship in North Korea. In tandem, the U.S. Department of … 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
On 24 May 2016, The EU Commission published additional Transatlantic Trade and Investment Partnership (TTIP) documents in an effort to stay transparent as the negotiations continue. The newly released documents contain a proposal on regulatory cooperation in pharmaceuticals, which was submitted to the US during the last round of the talks. Per the Commission’s news … 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
MTB Developments – House Acts on the Reform Bill; Senate Fails to Act. The House passed its MTB reform bill on 27 April. The Senate attempted to “hotline” the House-passed MTB reform bill on Thursday, a procedure used to test whether there are any objections to passing a bill under unanimous consent. However, the Senate … Continue Reading
The House Ways and Means Committee marked up a bill (H.R. 4923) last Wednesday that would reform the Miscellaneous Tariff Bill (MTB) process. The full House will consider the measure this Wednesday under suspension of the rules, which is reserved for non-controversial bills. The House will also consider the Senate-passed version of the Defend Trade … Continue Reading
Global Steel Crisis. The Office of the U.S. Trade Representative (USTR) and the Commerce Department will hold a joint hearing on 12 April that will focus on global steel overcapacity, just ahead of the Organization for Economic Co-operation and Development (OECD) steel committee meeting next week on the same topic. TPP Developments – Trying to … Continue Reading
President Barack Obama issued a new Executive Order and restrictions related to North Korea, while the Administration eased some U.S. sanctions against Cuba last week. The President and his family traveled to Cuba on Sunday and will stop in Argentina later in the week. The White House announced early last week that South Africa had … Continue Reading
The Obama Administration released its 2016 Trade Policy Agenda this week, detailing its trade priorities for the year ahead. Next week, President Barack Obama will welcome Canadian Prime Minister Justin Trudeau to the White House, where the Trans-Pacific Partnership (TPP) deal is one topic expected to be on the agenda. The Senate Finance Committee hosted … Continue Reading
President Barack Obama signed the customs bill and Judicial Redress Act into law last Wednesday. In addressing U.S. state governors early last week, the President expressed optimism that Congress may act this year on the Trans-Pacific Partnership (TPP) deal. Congress held a number of oversight hearings last week related to the Administration’s budget request. The … Continue Reading
North Korea Sanctions Bill Passes – Sent to President’s Desk. By a vote of 408-2, the House passed new North Korea sanctions legislation (H.R. 757) on Friday following the Senate’s unanimous approval Wednesday, sending the measure to President Obama’s desk for signature into law. Once enacted, the bill would compel the U.S. Department of the … Continue Reading
Major trade negotiations in two parts of the world have the potential to greatly benefit the chemicals industry in the coming years. The Trans-Pacific Partnership (TPP) agreement eliminates tariffs in key Asia Pacific markets, including several countries with which the United States does not yet have a preferential trade relationship. At the same time, the US … Continue Reading
