On October 18, 2010, Congressman Mike Michaud (D), Chairman of the House Trade Working Group, was joined by 20 of his congressional colleagues and 35 members of South Korea’s National Assembly in sending a letter to President Obama and South Korean President Lee urging them to make substantive changes to the U.S.-Korea Free Trade Agreement (KORUS FTA).
During his weekly address on October 16, 2010, President Obama laid out a policy agenda that included closing tax loopholes that encourage companies to invest overseas. He said the U.S. must encourage companies to invest more in the U.S., but the U.S. tax code has encouraged companies to create jobs and profits in other countries.
On October 15, 2010, Senator Baucus (D), Chairman of the Senate Finance Committee, visited China’s Waigaoqiao port, the country’s busiest port, to discuss issues related to trade facilitation and trade enforcement with China.
Shortly before to its adjournment for the November 2010 elections, the Senate had been considering S. 3454, its National Defense Authorization Act for Fiscal Year 2011.
On October 13, 2010, Senator Baucus (D), Chairman of the Senate Finance Committee, met with China’s Vice President and Commerce Minister to urge them to resolve persistent issues in the U.S.-China economic relationship including China’s currency undervaluation, intellectual property right infringement, indigenous innovation policies and unscientific restrictions on U.S. beef. Baucus also went to the People’s Bank of China to meet with the chief regulator of China’s currency, to discuss China’s currency undervaluation.
Senator Baucus (D), Chairman of the Senate Finance Committee, delivered a speech in Beijing on October 13, 2010 before the U.S.-China Business Council and the American Chamber of Commerce in which he discussed the recent passage by the House of legislation designed to correct the China currency imbalance (H.R. 2378) and noted that the Senate is poised to follow suit.
On October 12, 2010, Senators Grassley (R) and Hatch (R), the two most senior Republicans on the Senate Finance Committee, asked the Secretary of Agriculture and U.S. Trade Representative to take action to stop China’s discriminatory duties on U.S. poultry products.
On October 8, 2010, President Obama signed into law S. 3847, the Security Cooperation Act of 2010. The Act implements Defense Trade Cooperation Treaties with the United Kingdom and Australia and amends other national security-related authorities.
On October 5, 2010, the President signed into law H.R. 1517, which authorizes the Department of Homeland Security to convert certain U.S. Customs and Border Protection employees who serve under an overseas limited appointment for at least 2 years to a permanent appointment in the competitive service. (See ITT's Online Archives or 09/24/10 news, 10092409, for BP summary announcing that the House passed the Senate version of this bill.)
On October 6, 2010, Senator Lincoln (D), Chairman of the Senate Committee on Agriculture, Nutrition and Forestry, hosted U.S. Trade Representative Kirk, at a series of meetings in Arkansas to discuss trade issues important to creating jobs and growing Arkansas’s economy.