Foreign currency manipulation is harming U.S. competitiveness and limiting export growth, but legislation introduced on Capitol Hill in recent days to confront manipulation through countervailing duties is “unproductive,” said the House Ways and Means Committee Republicans, led by chairman Paul Ryan, R-Wis., in a Feb. 12 briefing on the issue (here). Both the House and Senate introduced bipartisan bills on Feb. 10 designed to hit back against currency manipulation through hiking CVD duties on U.S. imports (see 1502120014).
Sen. John Cornyn, R-Texas, and Rep. Beto O’Rourke, D-Texas, introduced identical bills in both Houses of Congress on Feb. 12 to boost CBP officer levels and infrastructure at U.S. ports of entry and border regions. The Emergency Port of Entry Personnel and Infrastructure Funding Act of 2015, S-458 in the Senate and HR-883 in the House, calls for 5,000 more CBP officers at the border by the end of fiscal year 2020 to “serve on all inspection lanes.” The legislation authorizes 350 additional employees on top of that to “support staff” at ports of entry. Infrastructure improvements are also a central focus of the bill. The CBP commissioner would be allowed to prioritize particular projects to expedite commercial flow and strengthen safety measures, the bill says. The legislation, which also calls for reports to Congress on a number of issues revolving around the boosted staff figures, would authorize consultations between cabinet officials on where to build new ports, as well.
A bipartisan group of senators renewed a long-standing effort to reform the U.S. sugar program with the reintroduction of legislation on Feb. 12. The Sugar Reform Act of 2015 would overhaul domestic supply and price management. Sens. Mark Kirk, R-Ill., Pat Toomey, R-Pa., and Jeanne Shaheen, D-N.H., led the bill’s introduction, along with 14 co-sponsors. Sugar is one of the most protected U.S. industries, and trade partners have urged the U.S. to lift industry restrictions often in the past (see 14100601).
The Department of Homeland Security’s funding beyond Feb. 27 remains in question, as the Senate cast its last vote on Feb. 12 and left the Capitol for an 11-day recess. The House is polishing off legislative business on Feb. 13 before also departing. Once both chambers reconvene on Feb. 23, lawmakers will have only five days to act to avert a DHS shutdown.
Lawmakers introduced the following trade-related bills since International Trade Today's last legislative update:
Sens. Jeff Sessions, R-Ala., and Sherrod Brown, D-Ohio, led a bipartisan group of ten senators in introducing a bill on Feb. 10 to combat the impacts of foreign currency manipulation on U.S. industry. The Currency Undervaluation Investigation Act surfaced the same day House members introduced similar currency legislation (see 1502110021),
The House Ways and Means Committee touted conservative support for the U.S. trade agenda in a blog post on Feb. 10 (here). A number of prominent conservatives, such as leaders at the Club for Growth and the Heritage Foundation, have recently spoken in favor of Trade Promotion Authority and pending free trade agreements, said the committee, citing a news report and public comments. Some far-right Republicans reject TPA, but lawmakers and industry representatives say those critics aren’t a threat (see 1501150044). Republican leadership in both chambers have pledged to pass both TPA and FTA implementation bills. Ways and Means Chairman Paul Ryan, R-Wis., has repeatedly signaled TPA support since taking over the committee (see 1502050019). Many House Democrats, however, continue to assail the trade agenda, though Democrats in the Senate are taking a more measured tone.
A bipartisan group of House members introduced legislation on Feb. 10 to allow the Commerce Department to level countervailing duties on foreign imports to counteract currency manipulation impacts on U.S. industry. House Ways and Means ranking member Sandy Levin, D-Mich., as well as Reps. Tim Ryan, D-Ohio, Mo Brooks, R-Ala., and Tim Murphy, R-Pa., introduced the Currency Reform for Fair Trade Act (here) to the applause of a number of other lawmakers.
Democratic senators again urged Republican leadership in the chamber to pass a “clean” Department of Homeland Security funding bill in comments on Feb. 10. Sens. Jeanne Shaheen, D-N.H., and Cory Booker, D-N.J., led a press call to denounce Republican attempts to scale back President Barack Obama’s executive action on immigration, and Senate Minority Leader Harry Reid, D-Nev., also said on the Senate floor the funding impasse is threatening U.S. security (here).
Lawmakers introduced the following trade-related bills since International Trade Today's last legislative update: