A panel of trade experts said managed trade doesn't have to be a dirty word, but that the conflation of national security and economic security is dangerous. The Washington International Trade Association decided to host a discussion on managed trade after an essay was published by Edward Alden called, "Free Trade Is Dead. Risky ‘Managed Trade’ Is Here."
Rep. Brad Schneider, D-Ill., introduced a bill that would offer the more generous unemployment and retraining benefits under Trade Adjustment Assistance to people who lost their jobs because their companies' exports declined after retaliatory tariffs. The bill, whose text was published Sept. 20, says the retaliation could be as a result of tariffs under Section 232, Section 301 or the International Emergency Economic Powers Act. Currently, TAA covers job loss due to import competition in goods and services.
The European Union and the U.S. working together have the leverage to change China's distortions in the world economy, experts speaking during a three-day series on EU-U.S. trade issues said. But it's not easy, with the economic interests of German manufacturers in China, the history of trade tensions across the Atlantic, and bureaucratic torpor on both sides, they said.
Export Compliance Daily is providing readers with the top stories for June 7-11 in case you missed them. You can find any article by searching on the title or by clicking on the hyperlinked reference number.
The moderator of a panel on the results of the president's visit to Europe asked the European Union's ambassador to the U.S., Stavros Lambrinidis, what he would say to critics who say that nothing was solved on the EU-U.S. irritants? Those critics say that the can was just kicked down the road.
The United Kingdom and the U.S. announced an agreement in the Airbus-Boeing dispute in line with the previously announced agreement between the U.S. and the European Union (see 2106150021). In the agreement, both sides will keep 25% tariffs off a variety of products and 10% tariffs off aircraft for at least five years, and will use a working group to hash out any disagreements on whether either government's support for their large aircraft maker is distorting sales. They also will work together to counter Chinese or other countries' distortions, the June 17 statement said.
The Coalition of American Metal Manufacturers and Users said the U.S. negotiators aiming to end Section 232 tariffs by addressing steel overcapacity should listen to U.S. industrial users of the metals.
The U.S.-European Union joint statement on trade says: "We will engage in discussions to allow the resolution of existing differences on measures regarding steel and aluminum before the end of the year. In this regard, we are determined to work together to resolve tensions arising from the U.S. application of tariffs on imports from the EU under U.S. Section 232." It also says, "We commit to ensure the long-term viability of our steel and aluminum industries, and to address excess capacity."
The Biden administration emphasized how reaching an agreement to end a 17-year-dispute over government subsidies to both Airbus and Boeing does more than just lift tariffs for at least five years. They see the most significant plank of the agreement as the one in which European Union countries agree to prevent foreign investments in the aerospace sector that are done to acquire technology or know-how, and to counter investments by European aerospace companies in China or other countries that are done in response to incentives or because the investments are a condition to sell in that market.
The Commerce Department published its spring 2021 regulatory agenda for the Bureau of Industry and Security, including two new mentions of emerging technology rules and new export controls on certain camera systems.