Ways and Means Chair Wants Customs Reauthorization Bill, Etc.
During remarks made to the Emergency Committee for American Trade, Representative Brady (R), Chairman of the House Ways and Means Committee’s Trade Subcommittee, announced that he wants to continue work on Customs reauthorization legislation. He also said the U.S. should adhere to its NAFTA trucking obligations, and expressed concern over legislation to prohibit cotton payments to Brazil.
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Highlights of Chairman Brady’s remarks on these issues and other issues include:
Wants to Continue Work on Customs Reauthorization Bill
Easing the flow of goods and services across borders through trade facilitation is a priority and the bipartisan work that the Committee has done on a Customs reauthorization bill should continue, along with coordination with other committees to ensure that U.S. trade policies help workers compete.
Says U.S. Must Live Up to NAFTA Trucking Obligations
The U.S. must live up to its own obligations and come into compliance with its NAFTA trucking obligations and end the costly retaliation by Mexico quickly.
Wants to Address Ag Bill Amendments to Halt Cotton Payments to Brazil
The provisions in the House Agriculture Appropriations bill (H.R. 2112) which would prohibit the U.S. from making agreed-to payments to Brazil as part of a World Trade Organization cotton case must be addressed as those payments were part of a settlement to avoid costly retaliation against the U.S., particularly with respect to intellectual property.
Says U.S. Must Look at Many China Issues, Not Just Currency
Congress needs to reorient its approach to China by focusing on the full range of issues inhibiting U.S. companies from selling their goods and services in China, including Chinese indigenous innovation requirements, subsidized capital, directed lending policies, intellectual property theft, and restrictions on exports of key raw materials -- as well as currency misalignment and China’s closed capital account.
Meaningful metrics are needed to measure whether China is actually complying with the obligations that it commits to and the U.S. Trade Representative has been encouraged to develop such tools.
Supports Bilateral Investment Treaty Negotiations with China
The U.S. should also resuscitate the bilateral investment treaty negotiations begun with China several years ago. An agreement would provide important protections and level the playing field for U.S. investors.
(See ITT’s Online Archives or 06/07/11 news, 11060716, for BP summary of H.R. 2112, including mention of the funding cut for Brazil cotton payments.
See ITT's Online Archives or 04/11/11 news, 11040850, for BP summary of FMCSA proposal on U.S.-Mexico long haul trucking pilot.
See ITT's Online Archives or 12/14/10 news, 10121420, for BP summary of Chairman Brady's statement that Customs reauthorization legislation should be a high priority for the 112th Congress.)
Brady’s remarks available by emailing documents@brokerpower.com.