U.S. Trade Representative Katherine Tai talked with the 13 countries that have signed up for the Indo-Pacific Economic Framework during a trip to Paris for an event at the Organization for Economic Cooperation and Development, and issued a statement that said she shared her vision for the trade pillar. Tai "explained her hope that the United States and IPEF partners that choose to join the trade pillar will seek to build high-standard, inclusive, free, and fair trade commitments and develop new and creative approaches in trade and technology policy that advance a broad set of objectives related to: labor; environment; the digital economy; agriculture; transparency and good regulatory practices; competition policy; and trade facilitation."
U.S. Trade Representative Katherine Tai, after meeting with Kenya's trade minister on the sidelines of the World Trade Organization's ministerial conference, said the two countries "could develop an ambitious roadmap for enhanced cooperation and, where appropriate, explore negotiating high-standard commitments. The issues discussed include trade facilitation and customs, standards, services digital trade, environment and climate change, and agriculture."
The U.S. announced it is starting negotiations with Taiwan on trade facilitation, sanitary and photosanitary regulations for agricultural imports, digital trade, and coordinating to confront non-market practices. The U.S.-Taiwan Initiative on 21st-Century Trade is similar to the Indo-Pacific Economic Framework in its scope, but Taiwan was not invited to join IPEF negotiations.
Former Sen. Max Baucus, D-Mont., who also is a former ambassador to China, said that while the Indo-Pacific Economic Framework is weak compared with the Trans-Pacific Partnership, "but it’s a beginning and we have to work with it." Baucus said he continues to believe the U.S. should have joined the TPP, which has been rebranded as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, but said that when he flew back from China to lobby on its behalf, "It was pretty clear this is toxic -- this was going nowhere."
At a joint press conference in Ottawa, U.S. Trade Representative Katherine Tai and Canadian trade minister Mary Ng did not reveal any agreements on trade irritants, but emphasized that they can work out their differences with the trust they share and the strong relationship between the neighboring countries. It was Tai's first trip to Canada since becoming USTR, and she had a full schedule planned, meeting with small businesses, labor groups, and touring a General Motors facility in Markham, Ontario.
The United Arab Emirates recently launched an online portal for information on the country’s trade deal with India, the Hong Kong Trade Development Council reported May 4. The portal includes a copy of the full agreement, provides summaries of its “key clauses” and includes a searchable tariff database for specific goods. It also has “tariff structures, introduction timetables, differential treatments, rules of origin, customs procedures, issues impacting small and medium‑size enterprises, and available digital trade options,” the report said. The deal took effect May 1.
Israel and the United Arab Emirates earlier this month completed negotiations on a new free trade deal that will apply to about 95% of traded goods between the two countries, the Hong Kong Trade Development Council reported April 26. The Comprehensive Economic Partnership Agreement is expected to “significantly lower or eliminate tariffs” on agricultural goods, food, cosmetic products, medical equipment and medicines, the report said.
TPM Solicitors & Consultants published an April 22 post on the recently signed India-Australia trade deal (see 2204040028), detailing the tariff benefits for each side, concessions in the pharmaceutical sector, the agreed safeguard measures and more. The deal is expected to boost trade between the two nations by $40 billion to $50 billion in the next five years, the firm said, and should be followed by a comprehensive free trade agreement in the next 12 to 18 months.
Australia and India on April 2 signed an interim trade deal that will slash tariffs on a range of Australian goods, the country’s trade ministry said. The agreement will eliminate tariffs on more than 85% of Australian exports to India, covering agricultural goods, food products, energy products, medical items and more. The deal will also lift Australian tariffs on about 96% of Indian goods. Both countries plan to continue working toward a full trade agreement.
Rep. Dusty Johnson, R-S.D., the top Republican on the House Agriculture subcommittee that covers trade, told Farmers For Free Trade that ag exporters "want China to live up to their commitments, but we don't want to put all our eggs in one basket."