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☆ Democrats warn large tech firms could evade competition policies under new trade rules
▼ + stars: | 2023-04-24 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

It's not the first time Democrats have raised concerns about tech provisions being included in trade agreements. The group urged Tai and Raimondo "not to put up for negotiation or discussion any digital trade text that conflicts" with the agenda set by the whole-of-government effort. "Big Tech wants to include an overly broad provision that would help large tech firms evade competition policies by claiming that such policies subject these firms to 'illegal trade discrimination,'" the Democrats wrote. "Tech companies could also weaponize these digital trade rules to undermine similar efforts by our trading partners." The letter cited a U.S. Chamber of Commerce blog post about a trade group coalition note advocating for strong digital trade provisions in the Indo-Pacific Economic Framework (IPEF).

☆ EU's Dombrovskis sees some progress on steel, battery minerals talks with U.S.
▼ + stars: | 2023-04-14 | by ( David Lawder | ) www.reuters.com time to read: +2 min

Dombrovskis, the EU's top trade official, told reporters that he could not provide any details on timing for reaching a U.S.-EU deal after Washington and Tokyo's quick agreement in late March. "We're making some progress, but also we're seeing that those are not easy discussions," Dombrovskis said of the minerals talks, adding that the EU was pursuing its own competing subsidies for clean energy technologies. That deal included new U.S. import quotas for specific duty-free volumes of EU steel and launched talks on a global arrangement to combat "dirty" metals production aimed at excluding Chinese capacity. Dombrovskis said, however, that the key parameters from the EU side was that the agreement would have to result in "complete withdrawal" of U.S. tariffs on EU metals as well as the quota arrangement. Creation of a green metals club would also need to be compliant with World Trade Organization rules, he added.

☆ U.S. trade chief Tai defends pursuit of non-traditional trade deals
▼ + stars: | 2023-04-05 | by ( David Lawder | ) www.reuters.com time to read: +4 min

She said past trade deals focused on "aggressive liberalization and tariff elimination" made the U.S. and other countries too dependent on China for critical materials. Her remarks come amid growing calls from U.S. business and agricultural trade groups for Congress to approve new "fast track" negotiating authority for USTR to pursue traditional free trade deals. These groups argue the U.S. is falling behind the growing network of free trade deals forged by China and the European Union in recent years, putting U.S. farmers and food companies at a disadvantage against many foreign competitors in key markets. Republicans in the U.S. Senate and House of Representatives also pelted Tai with complaints about the lack of new tariff-reducing trade deals during hearings last month. Tai told reporters it has been difficult to explain the need to break away from the traditional vision of ever-liberalizing trade deals.

☆ U.S. trade chief Tai to defend pursuit of non-traditional trade deals
▼ + stars: | 2023-04-05 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, April 5 (Reuters) - U.S. Trade Representative Katherine Tai on Wednesday will defend the Biden administration's decision not to pursue traditional free trade deals and argue her approach of working to ease non-tariff barriers is better for workers and supply chain resilience. Her remarks come amid growing calls from U.S. business and agricultural trade groups for Congress to approve new "fast track" negotiating authority for USTR to pursue traditional free trade deals. These groups argue the U.S. is falling behind the growing network of free trade deals forged by China and the European Union in recent years, putting U.S. farmers and food companies at a disadvantage against many foreign competitors in key markets. Republicans in the U.S. Senate and House of Representatives also pelted Tai with complaints about the lack of new tariff-reducing trade deals during hearings last month. Tai told reporters it has been difficult to explain the need to break away from the traditional vision of ever-liberalizing trade deals.

☆ US chip subsidy criteria could be a 'burden', says South Korea
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

Samsung is building a chip plant in Texas that could cost over $25 billion and has said it is reviewing the guidelines. However, funding applications may require detailed cost structure information as well as projected wafer yields, utilisation rates and price changes, which three Korean chip sources told Reuters was akin to revealing corporate strategy. The United States' subsidy provisions should reflect the opinions of the government and companies of South Korea so they do not impose any undue burden on those companies, South Korean Trade Minister Ahn Duk-geun said in a statement on Thursday. Ahn's comment came from a meeting with United States Trade Representative Katherine Tai in South Korea, a leading chipmaking country and major investor in the U.S. chip sector. The U.S. Department of Commerce will accept subsidy applications for leading-edge chip facilities from March 31, and for current-generation, mature-node and back-end production facilities from June 26.

☆ US, Japan strike trade deal on electric vehicle battery minerals
▼ + stars: | 2023-03-28 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, March 28 (Reuters) - The United States and Japan on Tuesday announced a trade deal on electric vehicle battery minerals that is key to strengthening their battery supply chains and granting Japanese automakers wider access to the new $7,500 U.S. EV tax credit. The deal also aims to reduce U.S.-Japanese dependence on China for such materials by requiring collaboration to combat "non-market policies and practices" of other countries in the sector and on conducting investment reviews of foreign investments in their critical minerals supply chains. The officials said that USTR does not intend to seek approval by Congress for the minerals trade agreement because it falls under the agency's authority to negotiate sectoral trade agreements at the executive level. But they said provisions in the deal to promote labor rights and recycling in their battery mineral supply chains would help both countries. The two countries agreed to review the minerals agreement every two years, including whether it is appropriate to terminate or amend it.

Obrador's decision to roll back reforms aimed at opening Mexico's power and oil markets to outside competitors sparked the trade dispute. If not, the U.S. will request an independent dispute settlement panel under the Unites States Mexico Canada Agreement, or USCMA, they said. The United States and Canada demanded dispute settlement talks with Mexico in July - 250 days ago. Under USMCA rules, after 75 days without a resolution, they were free to request a dispute settlement panel, a third party that rules on the case. In my view, it’s long past time to say enough is enough and escalate this into a real dispute settlement case," Wyden said.

☆ U.S. and China wage war beneath the waves – over internet cables
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +28 min

Three of China’s state-owned carriers – China Telecommunications Corporation (China Telecom), China Mobile Limited and China United Network Communications Group Co Ltd (China Unicom) – had committed funding as members of the consortium, which also included U.S.-based Microsoft Corp and French telecom firm Orange SA, according to six people involved in the deal. China Telecom, China Mobile, China Unicom and Orange did not respond to requests for comment. China Telecom, China Mobile and China Unicom were resolutely behind HMN Tech, which had come in with a bid of around $500 million. China Telecom and China Mobile threatened to walk off the project, taking tens of millions of dollars of investment with them. Among them is China Telecom, which had previously won authorization to provide services in the United States.

☆ US Trade Rep fires back at GOP House member who said she has 'too nice a smile' to do her job: 'I don't need your pity'
▼ + stars: | 2023-03-24 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

A US House member said the US Trade Representative had "too nice a smile" to do her job. "I don't need your pity. "I don't need your pity. "You don't need his crocodile tears," she added. A member of Biden's Cabinet, Tai is the principal trade advisor, negotiator, and spokesperson on U.S. trade policy.

☆ US trade chief Tai says open to discussions with China
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, March 23 (Reuters) - U.S. Trade Representative Katherine Tai said on Thursday that she is open to trade conversations with Chinese officials, but the Biden administration would defend U.S. interests and was focused on investments to compete more effectively with China. In prepared testimony before the U.S. Senate Finance Committee, Tai said that U.S. legislation to enable investments in infrastructure, semiconductors and clean energy technologies will allow the United States to compete from "a position of strength." "While we continue to keep the door open to conversations with the PRC, (People's Republic of China) including on its Phase 1 agreement commitments, we must also vigorously defend our values and economic interests from the negative impacts of the PRC's unfair economic policies and practices," Tai said, referring to a two-year trade deal reached by the Trump administration in 2020. However, her remarks did not indicate any specific plans for discussions with China's new economic team, led by Vice Premier He Lifeng. Reporting by David Lawder; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Courts blocked a prior bid by the Trump administration to ban the app in part on the grounds that such a move violated free speech protections. Courts struck down former President Donald Trump's bid to block TikTok in 2020 with an executive order that granted the Commerce Department similar authorities as the RESTRICT act. But the bill will likely provide no immediate solutions for those calling for a ban on the app. Some experts said using the new legal tools to ban TikTok could still invite First Amendment challenges. "And there will most likely be a legal challenge if its used to ban TikTok."

☆ How Biden's climate plan could steal business from Europe
▼ + stars: | 2023-03-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden has a plan to boost clean energy in the United States, but European politicians worry it could drive companies and investment away from Europe. The U.S. Inflation Reduction Act has promised $369 billion – an unprecedented amount – on climate and energy policies, including, among many other things, tax credits for consumers getting new electric vehicles. "The Inflation Reduction Act represents a historic investment in clean energy and green technology. We urge other countries to follow the United States' lead and pass their own versions of this legislation," the spokesperson said. CNBC heads to Sweden to find out how these trade tensions are making businesses reconsider their investment plans.

☆ Biden administration holds second round of IPEF talks in Bali
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, March 19 (Reuters) - The Biden administration said on Sunday that it has held a second round of negotiations for its signature Asia engagement project on topics including labor, environment, digital trade and technical assistance. The Office of the U.S. Trade Representative and the Commerce Department said in a joint release that the latest negotiations took place March 13-19 in Bali. Ahead of the negotiations, U.S. officials shared "Pillar I" negotiating text on labor, environmental, digital trade and technical assistance. The U.S. release said IPEF partners discussed the text and held follow-up talks about other topics raised in earlier meetings in Brisbane and New Delhi. "USTR and Commerce will release additional details about the next in-person negotiating round at a later date," the release said.

☆ U.S., Taiwan Move Closer to Trade, Investment Agreement
▼ + stars: | 2023-03-16 | by ( Joyu Wang | ) www.wsj.com time to read: 1 min

Taiwanese President Tsai Ing-wen met with U.S. Rep. Ken Calvert, a Republican from California, in Taipei this week. TAIPEI—The U.S. and Taiwan moved a step closer toward a bilateral trade and investment initiative, with both sides signaling progress in the talks at a time of heightened tensions between Washington and Beijing. The U.S. Trade Representative’s office on Thursday released a summary of proposed texts covering customs administration and trade facilitation, good regulatory practices, services domestic regulation, anticorruption, and small and midsize enterprises. A similar statement was released by Taiwan’s trade office at the same time. The five topics are among a dozen trade areas that the two sides previously agreed to negotiate.

Mexico published a presidential decree on genetically modified (GM) corn in late 2020, saying it would ban GM corn in the diets of Mexicans and end the use the herbicide glyphosate by Jan. 31, 2024. The new decree eliminated the deadline to ban GM corn for animal feed and industrial use, by far the bulk of its U.S. corn imports. The new plan bans only GM corn used for dough or tortillas but leaves the door open to gradually substituting GM corn for animal feed and industrial use in the future. Some sector experts have said they worry that Mexico's restriction on GM corn, if successful, could set a precedent, prompting other countries to take a similar approach and disrupting the global corn trade. Corn for human food use comprises about 21% of Mexico's corn imports from the U.S., according to a representative from the National Corn Growers Association, citing U.S. Grains Council data.

CHICAGO/WASHINGTON, March 6 (Reuters) - The United States has requested formal trade consultations with Mexico over U.S. objections to its southern neighbor's plans to limit imports of genetically modified corn and other agricultural biotechnology products. "We hope these consultations will be productive as we continue to work with Mexico to address these issues." The United States has previously threatened to take the issue to a trade dispute panel under the trilateral agreement with Mexico and Canada over the plan, which would ban genetically modified corn for human consumption. A USTR official said the talks would cover Mexico's planned rejection of GMO corn and other agricultural biotechnology products that have been shown to be safe in the United States and other countries for decades. Corn for food use comprises about 21% of Mexican corn imports from the U.S., a representative from the National Corn Growers Association said, citing U.S. Grains Council data.

☆ U.S. to ask Mexico for formal talks over GMO corn dispute -industry sources
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON/CHICAGO, March 6 (Reuters) - The United States plans to request formal talks under its free trade agreement with Mexico over Mexican plans to limit imports of genetically modified corn, two U.S. industry sources said on Monday. The United States has previously threatened to take the issue to a trade dispute panel under the trilateral agreement with Mexico and Canada over the plan, which would ban genetically modified corn for human consumption. The U.S. agriculture secretary, Tom Vilsack, had said that a trade dispute panel under free trade agreement would be the next step if talks were not successful. U.S. Trade Representative Katherine Tai held talks with Mexican Economy Minister Raquel Buenrostro over the issue late last month. Corn for food use comprises about 21% of Mexican corn imports from the U.S., according to a representative from the National Corn Growers Association, citing U.S. Grains Council data.

☆ U.S. Challenges Mexico’s Plan to Phase Out Imports of Corn From GMO Seeds
▼ + stars: | 2023-03-06 | by ( Yuka Hayashi | ) www.wsj.com time to read: 1 min

During 2022, Mexico purchased nearly $5 billion worth of corn from the U.S., making it the second largest importer after China. WASHINGTON—The U.S. said it is seeking formal consultations with Mexico over its agricultural biotechnology policies—a request officials said is aimed at Mexico’s import ban on genetically modified American corn and other crops. The U.S. Trade Representative’s office said the request was filed under the U.S-Mexico-Canada Agreement, a trilateral trade pact known as the USMCA that took effect in 2020.

☆ Morning Bid: Ten-four, Treasury yields soar
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +4 min

The remarkable sight of 10-year Treasury yields back above 4% for the first time in almost four months is only matched by two-year yields at 15-year highs stalking 5%. Weekly jobless claims on Thursday and the latest Fed speakers take on unusual importance in such a febrile rates market. And 6% Fed rates that seemed fanciful only a month ago are now being openly discussed by banks. Despite year-on-year oil prices now tracking declines of 25%, European inflation fears are a key feature of this week's nervousness. Benchmark German 10-year bond yields soared to 11-year highs at 2.77%.

☆ Biden nominating Julie Su as next US labor secretary
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: +2 min

Julie A. Su, nominee for deputy secretary of Labor, testifies during her Senate Health, Education, Labor and Pensions Committee confirmation hearing in Dirksen Building on Tuesday, March 16, 2021. President Joe Biden on Tuesday said he planned to nominate Julie Su, the current deputy and former California official, as his next labor secretary, replacing the departing incumbent, former Boston Mayor Marty Walsh. Su, a civil rights attorney and former head of California's labor department, was central to negotiations between labor and freight rail companies late last year, working to avert an economically debilitating strike. If confirmed by the Senate, Su would also be the first Asian-American in the Biden administration to serve in the Cabinet at the secretary level. Vice President Kamala Harris and U.S. Trade Representative Katherine Tai are of AAPI descent but don't lead a Cabinet department.

☆ Pakistan seeks breakthroughs in high-level U.S. trade talks
▼ + stars: | 2023-02-22 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 21 (Reuters) - Pakistan is looking for breakthroughs in agriculture and information technology during the first ministerial level meeting of a U.S.-Pakistani trade and investment body in seven years, Pakistan's commerce minister said on Tuesday. Commerce Minister Syed Naveed Qamar will meet on Thursday with U.S. Trade Representative Katherine Tai and other senior U.S. officials under the U.S.-Pakistan Trade and Investment Framework Agreement (TIFA). Now that we are starting, there are many areas where we expect some breakthroughs, and that is on both sides." Qamar said Pakistan was looking to increase its exports of mangoes to the United States, and ensure smooth, increased trade in information technology and computer programming services. "When we talk about trade, we're talking about the entire spectrum, but we're focusing on these things because that's where things would start happening right away," he said.

An AliveCor spokesperson said the office of the U.S. Trade Representative told the company it would not veto the decision. Any ITC ban is still on hold while Apple and AliveCor continue to clash over the patents. AliveCor accused Apple of infringing three patents related to its KardiaBand, an Apple Watch accessory that monitors a user's heart rate, detects irregularities and performs an electrocardiogram to identify heart problems like atrial fibrillation. Apple Watch Series 4, 5, 6, 7, and 8 have ECG technology. AliveCor has separately sued Apple in California federal court for allegedly monopolizing the U.S. market for Apple Watch heart-rate apps, and filed a related patent infringement lawsuit against Apple in Texas federal court.

☆ U.S. trade official Tai discussed Inflation Reduction Act with EU's Dombrovskis
▼ + stars: | 2023-02-17 | by ( Kanishka Singh | ) www.reuters.com time to read: +1 min

WASHINGTON, Feb 17 (Reuters) - U.S. Trade Representative Katherine Tai on Friday met with European Union Executive Vice President Valdis Dombrovskis and discussed the U.S. Inflation Reduction Act, Tai's office said in a statement. The legislation excludes electric vehicles assembled outside of North America from tax credits in the United States. European nations are not the only ones who have raised concerns with the Inflation Reduction Act. Tai and Dombrovskis also discussed the ongoing negotiations for a global arrangement on sustainable steel and aluminum and agreed to remain in close contact as negotiations continue in 2023, the USTR office added. Reporting by Kanishka Singh in Washington; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

The country buys about 17 million tonnes of mostly GM yellow corn from the United States each year, mostly for animal feed. Mexico will still prohibit use of GM corn for human consumption, such as flour, dough, or tortilla made from the grain. About 20% of Mexican corn imports from the United States is white corn for food products. It will still move forward with its plan to ban imports of the herbicide glyphosate, with a transition period in effect until March 31, 2024. The United States had given the Mexican government until Tuesday to explain the science behind its proposed bans.

☆ Vietnam exporters fret over potential trade fallout of U.S. rules on Xinjiang
▼ + stars: | 2023-02-14 | by ( Francesco Guarascio | ) www.reuters.com time to read: +4 min

Vietnam posted a $116 billion trade surplus with the United States last year, led by shipments of goods such as electronics, clothing and footwear. The solar panel sector could be particularly at risk, as it greatly relies on polysilicon for solar cells, whose global production is concentrated in Xinjiang. Alongside other Southeast Asian countries, Vietnam accounts for about 80% of U.S. panel supplies, and Vietnam's panel exports to the United States were worth $3.4 billion in 2020. First Solar did not use polysilicon in its panels, but competitors in Vietnam did, he said, without identifying any companies. In addition to First Solar, the top solar panel makers in Vietnam are mostly Chinese companies, according to investment consultancy Dezan Shira.

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