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.
A bipartisan group of House members introduced a bill this week that could strengthen the U.S. ability to respond to economic coercion by foreign countries. The bill, which was introduced in the Senate earlier this month (see 2302080068), would allow the president to lower duties on non-import-sensitive goods made by a country that lost exports due to coercive actions; increase duties on imports from the "foreign adversary" committing the coercion; and allow the U.S. to more easily facilitate trade, including exports, with the coerced parties.
An alliance of more than 25 GSP nations on Feb. 21 called on the U.S. Congress to renew the Generalized System of Preferences benefits program. The program authorization lapsed in December 2020 and has yet to be renewed. The Alliance of GSP Countries includes Pakistan, Egypt, Thailand and Argentina, among others.
A bipartisan group of senators signed a Feb. 14 letter urging the Biden administration to take action against a surge of Mexican steel imports. The letter said tariffs can be reintroduced under a 2019 agreement that removed Section 232 duties on Mexican steel imports but allows them to be reintroduced if Mexican steel imports "exceed historic volumes of trade" and "surge meaningfully" into the market. The lawmakers said iron and steel imports increased about 73% over the agreed baseline from 2015 to 2017, which they believe requires action from the administration under the agreement.
House Ways and Means Committee Trade Subcommittee Chairman Adrian Smith, R-Neb., said the Biden administration is leaving an opportunity on the table by not continuing negotiations for a comprehensive trade agreement with the U.K.
The muted response of the agriculture secretary to Mexico's concessions on genetically modified corn was not enough, according to Rep. Jason Smith, R-Mo., chairman of the House Ways and Means Committee. Smith sent a letter Feb. 15 to USDA Secretary Tom Vilsack and U.S. Trade Representative Katherine Tai arguing that it is time to initiate a formal dispute over the non-tariff-barriers.
Sens. Mitt Romney, R-Utah, and Chris Van Hollen, D-Md., introduced legislation Feb. 9 that would prohibit the U.S. from granting China developing nation status in future treaties and international organizations, and direct the secretary of state to pursue removal of developing status from China in current U.S. international commitments, according to a press release. The Ending China’s Developing Nation Status Act also would require the State Department to report to Congress on China’s status in any treaties under consideration. Romney introduced similar legislation in December before the previous Congress ended.
Senators are working closely with the Biden administration, and believe they have its support, on a bill that could strengthen the ability of the U.S. to respond to economic coercion by foreign countries (see 2302080068). The bill, reintroduced this week by Sens. Todd Young, R-Ind., and Chris Coons, D-Del., could allow the president to lower duties on non-import-sensitive goods made by a country that lost exports due to coercive actions; increase duties on imports from the "foreign adversary" committing the coercion; and allow the U.S. to more easily facilitate trade with the coerced parties.
A group of Texas members of the House of Representatives wrote to officials at the Office of the U.S. Trade Representative and USDA lauding their “forceful stand” against Mexican attempts to ban imports of genetically modified corn, and urging them to file a USMCA dispute if an agreement with Mexico is not reached.
A hearing in the House of Representatives on America's critical minerals dependency showed agreement among Democrats and Republicans that more U.S. production and more coordination with allies is needed so that China is not so dominant in the critical minerals supply chain -- and that trade protection is needed so that domestic producers can compete with subsidized Chinese players.