New Democrat Coalition Calls for Better Section 301 Tariff Exclusion Process; More FTAs
The New Democrat Coalition announced the release July 19 of a new economic plan that includes a "comprehensive, fair, and transparent exclusion process for existing Section 301 tariffs." The caucus' Economic Opportunity Agenda says the exclusion process will "cut costs for Americans and ease global supply chain constraints."
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The agenda also proposes that the U.S. should pursue free trade agreements with nations like the U.K., Kenya and Taiwan to help "secure global supply chains, open new markets for U.S. goods, and strengthen economic coordination amongst nations that share our values."
The New Democrat Coalition said the U.S. should continue "to diversify and strengthen global supply chains in coordination with trading partners." That includes enactment of the Supply Chain Mapping and Monitoring Act, which would create a Supply Chain Resiliency and Crisis Response Office in the Commerce Department to respond to "disruptions in critical industries and supply chains," the agenda said.
Congress also should enact the Manufacturing Economy and National Security Act, which would create a loan program in the Department of Commerce that would include "$35 billion in funding over four years to support flexible manufacturing and the relocation of facilities from countries of concern," the agenda said.
"As a result of" the Biden administration's 'legislative wins," including the Ocean Shipping Reform Act, "the economy is getting stronger, and we are seeing inflation slow to the lowest level in two years. We're seeing good-paying jobs being created in every district across the country, and American leadership is on the rise around the world," Rep. Annie Kuster, D-N.H., chair of the New Democrats, said in a news release. "So this Agenda examines the progress that we've made over the past year to strengthen supply chains, lower health care and energy costs, boost manufacturing here at home, and much more."