Daily Update on Capitol Hill Trade Actions
"Daily Update on Capitol Hill Trade Actions" is a daily International Trade Today compilation of the most relevant legislation, hearings, and actions by Congress involving international trade. The following are brief summaries of recent Capitol Hill actions:
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Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
DOC Transmits Report on Exports of Space Launch Items to China
On May 20, 2010, a report from the Secretary of the Department of Commerce relative to the export to the People's Republic of China of items not detrimental to the U.S. space launch industry was transmitted to the Senate’s Committee on Foreign Relations.
Senate Passes Fin’l Reform Bill with Conflict Minerals Provision
On May 20, 2010, the Senate passed H.R. 4173, the Wall Street Reform and Consumer Protection Act, as amended. (See ITT’s 05/21/10 news, 10052124, for BP summary of a provision in this bill which affects conflict minerals.)
Administration Issues Stmts on Senate’s Passage of Fin’l Reform Bill
On May 20, 2010, the President issued a statement praising the Senate’s passage of financial reform legislation. Treasury Secretary Geithner has issued a statement on the Senate’s passage of the legislation.
Text of Tax Extender Legislation Released
On May 20, 2010, House Ways and Means Committee Chairman Levin (D) and Senate Finance Committee Chairman Baucus (D) released legislative text of the American Jobs and Closing Tax Loopholes Act, legislation to provide tax cuts and support for U.S. workers through 2010. Included in the legislation are trade provisions related to the wool trust fund, cotton trust fund, and Trade Adjustment Assistance. A summary is available here.
House Oversight Hearing on TTB Report on Tobacco Smuggling
On May 27, 2010, the House Ways and Means Committee’s Oversight Subcommittee will be holding a hearing to discuss the magnitude of tobacco smuggling in the United States and the recommendations made by Alcohol Tax and Trade Bureau, including enhancing the traceability of tobacco products. The Subcommittee also will review other responses to tobacco smuggling and compliance issues that have arisen since the passage of CHIPRA.
Wyden Report Finds Green Goods Trade Vastly Overestimated
On May 20, 2010, Senator Wyden (D) released a follow-up report to his December 2009 trade report entitled, “Major Opportunities and Challenges to U.S. Exports of Environmental Goods,” which looked at the benefits of lowering overseas tariffs to green products produced by American companies. According to Wyden, this report offers a new approach to measuring U.S. trade in environmental goods which shows that U.S. trade in green goods has been vastly overstated due to a lack of clear definitions of what qualifies a product to be labeled “environmental goods.” Senator Wyden urges the U.S. Trade Representative to hone reporting standards to improve negotiations.
Trade-Related Bills Introduced on May 19, 2010
On May 19, 2010, the following trade-related bills were introduced in the House:
| Motor vehicle event data recorders | H.R. 5345. To amend title 49, United States Code, to require the Secretary of Transportation to promulgate rules requiring that motor vehicles of model year 2012 or later be equipped with event data recorders compatible with a universal data retrieval method and that the data in event data recorders on motor vehicles prior to model year 2012 be readable by the National Highway Traffic Safety Administration, and for other purposes. |
| Port security | H.R. 5346. To enhance homeland security in the ports and waterways of the United States, and for other purposes. |
Trade-Related Bills Introduced on May 20, 2010
On May 20, 2010, the following trade-related bills were introduced:
| Energy products | S. 3395. A bill to provide cost-sharing assistance to improve access to the markets of foreign countries for energy efficiency products and renewable energy products exported by small- and medium-sized businesses in the United States, and for other purposes |
| Cambodia | H.R. 5349. A bill to provide that Cambodia's debt to the United States may not be reduced or forgiven, and textile and apparel articles that are the product of Cambodia and imported into the United States may not be extended duty free treatment |
| FCPA | H.R. 5366. A bill to require the proposal for debarment from contracting with the Federal Government of persons violating the Foreign Corrupt Practices Act of 1977 |
Any “Capitol Hill Trade Action” warranting more in-depth coverage will be summarized individually in a future issue of International Trade Today.