During a hearing with the House Ways and Means Committee March 30, U.S. Trade Representative Katherine Tai was asked by many Republicans and a few Democrats why the administration has ruled out cutting tariffs to convince negotiating partners in Asia to open their markets, and why it has shied away from continuing free trade agreement negotiations started during the previous administration.
Sen. John Thune, the South Dakota Republican who serves as his party's top vote-counter, told reporters at the Capitol that a bill to remove permanent normal trade relations status from Russia is stalled in the Senate over one Republican's disagreement on the Magnitsky Act renewal. He said that Democrats are negotiating with Sen. Rand Paul, R-Ky., on the language he wants regarding the Magnitsky Act. "They're still trying to negotiate, and hopefully they'll be able to find a path forward, but as of right now, it's hung up, and I don't see that busting loose this week, and next week is the Supreme Court [nomination vote], so it doesn't look like anything's likely to happen on that until after the Easter break."
Sen. Jim Risch, R-Idaho, introduced the Preventing Labor Union Slowdowns (Plus) Act, which would revise the National Labor Relations Act to define a labor slowdown by port unions as an unfair labor practice. It also would change the labor law to say that labor unions' negotiations against port automation are an unfair labor practice.
The top trade official on the European Commission said that Russia's barbaric invasion of Ukraine revealed how important it was that he and U.S. Trade Representative Katherine Tai "spent last year fixing some aspects of U.S.-EU relations," and then moved to a forward-looking agenda with the Trade and Technology Council. Tai, who spoke remotely to the Brussels business audience hosted by the American Chamber of Commerce in the EU on March 24, called EC Trade Commissioner Valdis Dombrovskis a good friend.
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."
BALTIMORE -- U.S. Trade Representative Katherine Tai continued to throw cold water on the idea of reviving negotiations for a free-trade agreement with the United Kingdom, saying, "A free trade agreement is a tool. It is a very 20th century tool. It has its place certainly in the toolbox," she said, but said that she wants these U.K.-U.S. economic dialogues to be "maximally responsive" to today's trade challenges. She said she wants to make sure "that we don’t spend years and spend a lot of blood, sweat and tears working on something that isn't going to be relevant to the needs of our people or our economies."
Private sector and government leaders from around the world talked about what their firms are doing and how the World Trade Organization could be a forum for creating smoother flowing supply chains.
The Senate Commerce Committee passed the Ocean Shipping Reform Act by a voice vote March 22. The bill would shift the burden of proof on unreasonable detention and demurrage to carriers and forbid them from unreasonably declining export shipments. A recent panel at the Capitol revealed that before the COVID-19 pandemic-related supply chain crunch, 20% of containers went back to Asia empty, and now it's 80% (see 2203180050).
The top trade official in the British government and U.S. Trade Representative Katherine Tai said they want to do even more trade and investment between the two countries, even as a free-trade agreement is not the end goal. Secretary of State for International Trade Anne-Marie Trevelyan had hoped that the Biden administration would continue the free trade negotiations started during the Trump administration, but that has not happened. Marjorie Chorlins, who leads the U.S.-U.K. Business Council at the U.S. Chamber of Commerce, also spoke at the March 21 plenary in Baltimore, saying the business community strongly supports more U.S.-U.K. economic cooperation.
The Russia and Belarus Financial Sanctions Act, clarifying that foreign subsidiaries of U.S. financial institutions must comply with American sanctions against Russia and Belarus, passed out of the House Financial Services Committee March 17 on a voice vote. The Nowhere to Hide Oligarchs' Assets Act, which gives the Financial Crimes Enforcement Network more access to records so that they can "detect Russian oligarchs who are participating in money laundering techniques to hide their money, avoid scrutiny, and evade our sanctions," passed out of the same committee on a 26-23 party-line vote.