Washington Update

March 30th, 2018
Megan Kelly

USTR releases Foreign Trade Barriers Report

The US Trade Representative this afternoon released its annual report on trade-distorting practices worldwide. The fact sheet released along with the report highlights three problematic areas for trade with China, all of which have been regularly raised by current and previous US administration:

China’s industrial plans (including Made in China 2025) and forced technology transfer  This section rehashes several of the same issues...
March 23rd, 2018
Meg Kelly

China announces retaliatory tariffs in response to Section 232 tariffs, but solicits comments before implementation

Early Friday China announced planned reciprocal tariffs on 128 US products to offset the impact of US steel and aluminum tariffs, which come into effect today under the administration’s Section 232 tariff actions. According to the Ministry of Commerce (MOFCOM), US exports of these products to China were worth $3 billion in 2017. The tariffs would include a 15 percent...

March 16th, 2018
Meg Kelly

Larry Kudlow to replace Gary Cohn as National Economic Advisor

The White House announced Wednesday that Larry Kudlow would become Trump’s top economic advisor, following the resignation of Gary Cohn last week. Kudlow is a former CNBC host who was an informal economic advisor to Trump’s campaign. Kudlow previously served as an economist at the New York Federal Reserve and at the Office of Management and Budget under President Reagan before moving on to Wall Street, including serving...

March 9th, 2018
By Meg Kelly

Steel and aluminum tariffs roil Washington

Following his announcement last week of his intention to act, President Trump signed an order Thursday putting a 25 percent tariff on imported steel and 10 percent on imported aluminum. The tariffs will be implemented in the next 15 days. The order exempted Mexico and Canada from coverage, and includes a process for other allies to apply for similar exemptions. Trump also said the percentages could be adjusted up or down at a later date, and...

March 5th, 2018
Meg Kelly

Liu He visits Washington amid talk of steel and aluminum tariffs

Chinese President Xi Jinping’s top economic advisor, Liu He, travelled to Washington this week to discuss trade tensions with the US government. Liu, a key proponent of China’s economic reforms over the past decade, was named to the Communist Party Politburo last fall and is expected to become a vice premier next month with responsibility for the financial sector.

Liu had a joint meeting on Thursday with...