China announced that it is "firmly opposed" to both the U.S. decision to open a new Section 301 investigation on allegedly unfair practices in China's maritime, logistics and shipbuilding sectors (see 2404170029) and President Joe Biden's call for a "tripling" of the existing Section 301 tariffs on Chinese steel and aluminum (see 2404170040).
U.S. Trade Representative Katherine Tai gave testimony April 17 to the Senate Finance Committee regarding President Joe Biden’s 2024 trade policy agenda. She touched mainly on trade deal enforcement, U.S. exporters’ access to new markets and the USTR’s new stance on digital trade, though she also discussed issues such as forced labor and the upcoming legislation on the Generalized System of Preferences benefits program.
U.S. and EU officials speaking in Belgium didn’t divulge many details about what they expect to come from the sixth meeting of the Trade and Technology Council this week, saying mostly that they hope the forum will continue no matter who wins upcoming elections in the U.S. and Europe (see 2403120066).
The annual report on foreign trade barriers, which covers intellectual property, agricultural exports and e-commerce, as well as all other goods and services, highlighted non-tariff barriers to ag exports, such as sanitary and phytosanitary (SPS) measures that are not based on science, burdensome facility registration requirements, and barriers to poultry in countries affected by highly pathogenic avian influenza that are not justified by the risk, in the U.S. view.
China opened a case at the World Trade Organization against the U.S. Inflation Reduction Act's rules for electric vehicle subsidies and "other measures," the nation's Ministry of Commerce announced March 26, according to an unofficial translation.
Reps. Darin LaHood, R-Ill., and Randy Feenstra, R-Iowa, both members of the House Ways and Means Committee, announced last week that they have sent two letters to the Biden administration calling for more action to promote U.S. biofuel exports.
The U.S. ambassador to Canada and the Canadian ambassador to the U.S. said trade cooperation between the two countries -- each is the other's top trading partner -- is crucial, but their tone on the NAFTA replacement was slightly different.
Twenty-two Republican senators -- including the top Republicans on the Senate Finance and Agriculture committees and one of the front-runners to replace Minority Leader Mitch McConnell -- argue that the "current sharp decline in U.S. agricultural exports is directly attributable to and exacerbated by an unambitious U.S. trade strategy that is failing to meaningfully expand market access or reduce tariff and non-tariff barriers to trade."
House Republican conservatives introduced a bill to restrict outbound investment in Chinese tech companies, require the administration to impose sanctions "on entities knowingly engaging in a pattern of theft of American IP," and impose sanctions on "Chinese officials and entities until they have stopped the flow of deadly fentanyl, and we’ve determined that fentanyl overdoses/deaths have dropped by 98%." It also said the administration must sanction "Chinese apps that steal U.S. citizens’ data and protect personal health data from China."
Mexican Economy Secretary Raquel Buenrostro said in Mexico this week that if the U.S. reimposes 25% tariffs on Mexican steel exports over alleged surges, Mexico will retaliate. Mexico's steel exports are only 2.5% of the U.S. market, and U.S. steel exports are 14% of the Mexican market, so the U.S. has more to lose if Section 232 tariffs on Mexican steel return, she said.