Ways and Means Committee Describes Broad Trade Agenda
The new Republican majority in the House Ways and Means Committee said it plans to do oversight across a multitude of trade policies advanced by the administration, including enforcement of trade agreements and trade negotiations for the Indo-Pacific Economic Framework for Prosperity (IPEF), the Americas Partnership for Economic Prosperity, the U.S.-Taiwan Initiative on 21st Century Trade and the U.S.-Kenya Strategic Trade and Investment Partnership. For existing FTAs, the committee said it wishes to identify provisions that should be updated to improve the agreements' benefits for the U.S.
Sign up for a free preview to unlock the rest of this article
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.
It also said in the letter released the evening of Feb. 26 that the committee said it will analyze the goals and the effectiveness of Section 232 and 301 tariffs "including the impact of tariffs and retaliation by other countries on U.S. manufacturers and consumers as well as U.S. allies engaged in fair trade," and will be asking questions about country exemption and product exclusion decisions.
As for legislation, the committee said it will be "updating ... major U.S. trade preference programs, including the Generalized System of Preferences, the African Growth and Opportunity Act, the Caribbean Basin Trade Partnership Act, and the Haitian Hemispheric Opportunity through Partnership Encouragement Act." It said it may consider changing policies that apply to the Miscellaneous Tariff Bill. It said it may consider legislation to update CBP's authorization and it may consider more trade sanctions bills, as well.
The committee will ask questions about the implementation of the Uyghur Forced Labor Prevention Act, the Trade and Facilitation and Trade Enforcement Act, especially with regard to trade remedy evasion, intellectual property rights violations and other enforcement areas.
It said it wants to make sure "U.S. trade remedy laws appropriately account for China’s state intervention in its economy," and to provide oversight on China's compliance with its phase one trade deal commitments and the administration's response.
It said it will make sure the Synthetics Trafficking and Overdose Prevention Act, which aimed to prevent fentanyl shipments through international mail, is fully executed.
The committee said the executive branch has engaged in overreach in trade by negotiating agreements that do not require a vote in Congress, and it might consider legislation that says all trade agreements require a vote, even if they don't lower tariffs significantly. It said it might consider legislation granting permanent normal trade relations status.