A former top Commerce Department adviser in the Biden administration expects President Donald Trump and Congress to continue prioritizing export controls and other trade restrictions, although he said the government’s success partly depends on whether the administration can craft a clear, coordinated economic security strategy that doesn’t only rely on tariffs.
The Trump administration should look to negotiate new types of economic and trade deals that are centered on economic security issues, such as export controls and investment screening measures, the Center for a New American Security said in a new report this week. The think tank also called on President Donald Trump to create an economic security strategy, which should outline avenues to strengthen export control enforcement.
The heads of the World Trade Organization and the World Customs Organization penned a Memorandum of Understanding on Jan. 21 to boost cooperation on "customs-related matters," the WTO announced. The organizations agreed to identify opportunities to collaborate in "external fora" and on the "delivery of technical assistance and capacity building in areas of common interest, including the implementation of grants provided through the Trade Facilitation Agreement Facility." The two organizations also agreed to share information in "areas of common interests," including on the development of the Harmonized System tracker and tariff classification. The groups pledged to harmonize work on the transposition of the HS, including through sharing information on projects and activities to combat illegal trade.
The Coalition for a Prosperous America, a think tank aligned with Trump's trade policy, issued a new report on agricultural trade, arguing that policies that aimed to lower U.S. tariffs in exchange for better market access for U.S. agricultural exports almost exclusively benefited soybeans, corn and wheat, while hurting fruit and vegetable farmers and livestock operations.
The U.S. will impose more sanctions against Russia if Russian President Vladimir Putin doesn't move quickly to negotiate a deal that will end its war against Ukraine, President Donald Trump posted Jan. 22 on Truth Social.
The chairman of the House Select Committee on China said Jan. 22 that the U.S. should take a harder line against China's aggressive policies on trade, investment and other matters.
Political negotiations on modernizing the EU's "global agreement" with Mexico have concluded, the European Commission said last week. The deal could put in place an "ambitious" framework to expand economic and political cooperation between the two sides, including around the "de-risking" of supply chains and securing a "sustainable supply of critical raw materials," the commission said.
The Biden administration’s upcoming AI chip-related export controls likely will upset key U.S. allies, especially the EU, by reinforcing the notion that the U.S. relies too heavily on extraterritorial controls and is “hellbent” on maintaining American technology leadership, the Center for European Policy Analysis said this week.
The Census Bureau updated the Schedule B and Harmonized Tariff Schedule tables in the Automated Export System to accept changes to the new Jan. 1 codes, the agency said in a Jan. 2 email. Census said AES will accept shipments with “outdated codes” for 30 days beyond their Dec. 31 expiration date, but reporting an outdated code after the grace period will result in a “fatal error.” Census also said it updated the Automated Commercial Environment AESDirect program with the codes, and the program will also accept outdated codes during the grace period.
The Commerce Department’s fall 2024 regulatory agenda for the Bureau of Industry and Security features a host of new rules that could soon update U.S. export controls, including restrictions on aircraft engines, biological equipment and reporting requirements for certain weapons sales, AI chips.