Washington Update

January 12th, 2018
By Meg Kelly

For analysis of potential trade actions in 2018, see Monday’s New Year edition of the Washington Update.

Steel report sent to White House, recommendations not yet public

The Commerce Department’s Section 232 investigation into steel imports is complete and has been sent to the White House, just ahead of its January 15 deadline. The report will not be made public until the President decides whether to take action, which he has ninety days to do. The decision to keep the...

January 8th, 2018
By USCBC Staff

Washington returns today for its first full work week of the new year, with many pending actions that could impact US-China trade relations. Some key dates to keep in mind for the coming weeks:

Recommendations by the Commerce department on steel and aluminum imports, related to national security concerns (known as Section 232 investigations, referring to a section under US trade law), are due on January 15 and 22 respectively, starting the clock for the president to make a decision on...
November 3rd, 2017
Meg Kelly

Trump Asia trip updates

Schedule extended

President Trump leaves today for a stopover in Hawaii before his 13-day, 5-country tour of Asia--the longest trip any sitting US President has made to the region in a quarter century. In addition to his state visit to China, Trump will make stops in Japan, South Korea, Vietnam, and the Philippines.The President will attend the APEC summit in Vietnam. Just this morning the White House said Trump would extend his trip to attend the East...

April 13th, 2016
Stephanie Henry
April 13, 2016

China was a main topic of conversation at a two-day long US government hearing on global overcapacity, given it remains a primary source of overproduction in several sectors. The hearing, organized by the Office of the US Trade Representative (USTR) and US Department of Commerce, featured administration officials, Members of Congress, and representatives from US industry in sectors affected by overcapacity.

In his opening remarks on April 12 – the first day of the...

January 13th, 2016
Stephanie Henry

January 13, 2016

China received just two mentions in last night’s State of the Union address by President Obama, highlighted below for your reference:
 
“I told you earlier all the talk of America’s economic decline is political hot air. Well, so is all the rhetoric you hear about our enemies getting stronger and America getting weaker. The United States of America is the most powerful nation on Earth. Period. It’s not even close. We spend more on our military than the next...

January 5th, 2016
Stephanie Henry

January 5, 2015

Congress’ approval of the 2016 Omnibus spending bill on December 18 contained one significant, positive measure for the US-China relationship: an increase in China’s stake in the International Monetary Fund (IMF). Congress had delayed voting on an IMF reform package for several years, leading some critics in China to view the inaction as part of a containment strategy to limit China’s influence in international institutions.
 
IMF reform had been a long-...

December 8th, 2015
Stephanie Henry

December 8, 2015

The United States today announced that it is challenging China’s support for its domestic aircraft manufacturers at the World Trade Organization (WTO). US Trade Representative Michael Froman said today the United States would seek consultations with China under the WTO’s dispute settlement mechanism on China’s imposition of value-added taxes (VAT) on certain foreign aircraft. Consultations are the first step toward launching a formal dispute against another WTO member...

April 10th, 2015
Stephanie Henry

The US Treasury Department in its latest exchange rate report did not cite China as a currency manipulator, but said that the renminbi (RMB) remains “significantly undervalued.” In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, Treasury said that China’s “real effective exchange rate appreciated by more than 10 percent in the past six months, the fastest pace since 2009.” However, Treasury noted that this appreciation does not go far enough, and that...

February 19th, 2015
Stephanie Henry

After the introduction of currency legislation in the House and Senate last week, it appears unlikely that the House will take up a standalone bill, though the issue may be included in Trade Promotion Authority (TPA) sought by President Obama to finalize Trans-Pacific Partnership (TPP) negotiations. Rep. Paul Ryan (R-WI), Chairman of the House Ways and Means Committee, has been vocal in opposing the bill, calling it a “counterproductive tactic [that] would trigger higher tariffs on any...

February 10th, 2015
Stephanie Henry

Critics of China’s currency policies introduced legislation today in the House and Senate that would allow the imposition of tariffs on imports from countries considered to be currency manipulators. The House bill mirrors currency legislation that passed the House in 2010. The latest Senate bill takes a narrower approach, but still raises similar issues that the Senate’s 2011 currency bill created in regards to the United States’ World Trade Organization (WTO) compliance. The US-China...

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