Treasury Secretary Janet Yellen said no decision has been made yet on whether there will be an executive order limiting outbound investment in China. "It's still something being discussed in the administration and the timing of it is not yet certain," she said on "Face the Nation" from China, before she returned from a diplomatic visit there. "But I wanted to explain to my Chinese counterparts that if we go forward with this executive order, that we will do so in a transparent and narrowly targeted way." She said what's being considered is only for "very narrow high technology areas," and should not significantly impact overall investment in China.
Mara Lee
Mara Lee, Senior Editor, is a reporter for International Trade Today and its sister publications Export Compliance Daily and Trade Law Daily. She joined the Warren Communications News staff in early 2018, after covering health policy, Midwestern Congressional delegations, and the Connecticut economy, insurance and manufacturing sectors for the Hartford Courant, the nation’s oldest continuously published newspaper (established 1674). Before arriving in Washington D.C. to cover Congress in 2005, she worked in Ohio, where she witnessed fervent presidential campaigning every four years.
Canada and Mexico talked about the panel ruling on auto rules of origin -- a decision that went their way but that the U.S. has chosen not to implement -- and Canada brought up the issue with U.S. Trade Representative Katherine Tai as well, according to readouts from Mexico and Canada about the bilateral meetings July 6 ahead of the official Free Trade Commission meeting in Cancun, Mexico.
Japan's senior deputy minister for foreign affairs, who was responsible for preparing for the G-7 summit in Hiroshima (see 2305220008), told Center for Strategic and International Studies scholars that Japan had two goals for the summit -- outreach to the Global South and supporting a "free and open international order based on the rule of law."
Sixteen trade groups, including the U.S. Chamber of Commerce, the National Association of Manufacturers, PhRMA and BIO, asked U.S. Trade Representative Katherine Tai to press Mexico to comply with its USMCA commitments during her trip to Mexico for the Free Trade Commission meeting.
The number of antidumping or countervailing duty cases brought repeatedly by the same industry is growing, according to a new analysis by Craig Thomsen, an economist at the International Trade Commission.
Sheffield Hallam University issued reports detailing Uyghur forced labor in the cotton, polysilicon, PVC and metals industries presaged withhold release orders and detentions against goods containing those inputs. Now, its Forced Labor Lab is offering the public a massive list of companies that operate in the Uyghur region, whose products are therefore considered to be made with forced labor unless importers can prove otherwise.
Rep. Earl Blumenauer, D-Ore., recently said CBP needs to do more to know what's inside packages imported under the de minimis threshold, adding that the agency “has no idea what's coming in.”
U.S. Trade Representative Katherine Tai and Deputy USTR Jayme White headed to Cancun, Mexico, to meet with Mexican Economy Secretary Raquel Buenrostro and Canada's trade minister, Mary Ng, ahead of the official USMCA Free Trade Commission meeting on July 6.
Sens. Tom Carper, D-Del., and Thom Tillis, R-N.C., are asking their colleagues to vote to encourage the administration to negotiate with other countries to lower or eliminate tariffs on pharmaceutical products and medical devices, and the U.S. would do the same. Their bill authorizes these sorts of changes.
The ability to import low-value packages without paying duties is a benefit to consumers and businesses, the U.S. Chamber of Commerce and other trade groups that use de minimis are arguing, as they lobby against bipartisan efforts to curtail de minimis eligibility.