Commerce Secretary Gina Raimondo told senators repeatedly during her testimony at a Commerce Committee hearing that the conference process for the House and Senate's China packages needs to get done as soon as possible, because other countries are offering funds to chipmakers, and companies are looking to plan new plants, because demand is so high. Raimondo said she's spoken with all the American chipmakers, and it's clear to her that if Congress doesn't act, those companies will invest in Germany, Singapore, France or Spain rather than Ohio or Arizona. Raimondo said, "They want to operate in our country, but they cannot wait. They are going to build, and if we don’t act quickly with USICA, they’ll build elsewhere."
A bill that would authorize the administration to confiscate any property valued at more than $5 million from a Russian oligarch who has already been sanctioned for involvement in the Ukraine invasion passed the House 417-8.
The European Parliament has a goal of reaching an agreement with the European Council on how to structure a carbon border adjustment measure by the end of this year, but Domien Vangenechten, from the Brussels location of the E3G think tank, believes that's a "very optimistic deadline.... I'm very skeptical of that happening." He said it could take until mid-2023 or late 2023.
The possibility of passing a ban on the import of goods made with forced labor, first mentioned last year by the EU president (see 2109210030), is slowly advancing through the European Parliament, as a trade committee asked a European Commission official for more information before the legislative language is released.
The EU is aiming for a sixth sanctions package next month, European Commission Executive Vice President Valdis Dombrovskis told reporters in Washington, but there is still not unanimity among the 27 countries on how to treat Russian oil and on what to do about Sberbank.
Exporters told the Federal Maritime Commission that detention and demurrage invoices need to include the earliest return dates containers will be allowed at the terminal, and that "clock-stopping events," such as a lack of appointments to bring a container to the terminal, should also be on the invoices. However, the World Shipping Council said that while the earliest return date is something shippers need to know, they need to know it before a carrier invoice.
A dozen members of the House of Representatives are asking U.S. Trade Representative Katherine Tai to change the administration's strategy on the Indo-Pacific Economic Framework to move it closer to a traditional trade agreement, including asking partners to lower tariffs for U.S. exports (see 2204120058). The April 12 letter, led by Reps. Stephanie Murphy, D-Fla., and Carol Miller, R-W.Va., also was signed by the ranking member of the House Ways and Means Trade Subcommittee, Rep. Adrian Smith, R-Neb.
Massive delays and a drop in traffic at the U.S.-Mexico border caused by secondary Texas state inspections have drawn fire from CBP, the trade community and even the White House.
The Democratic and Republican leadership in the House of Representatives selected members to serve on a massive conference committee with the goal of working out a compromise between the Senate and House visions for a China package. The trade titles of the two bills diverge significantly, and the members who will represent House points of view on trade are:
U.S. Agriculture Secretary Tom Vilsack and his Mexican counterpart said they have a plan to finalize "expanded access to the entire Mexican market no later than May 15 for all U.S. table stock and chipping potatoes according to the agreed workplan."