The House Financial Services Committee on May 4 approved legislation that would repeal language in the Dodd-Frank Act requiring companies to report conflict minerals content in their products to the Securities and Exchange Commission, according to a committee announcement. Specifically, H.R. 10, the Financial CHOICE Act (here), would strike Section 1502 of Dodd-Frank, which contains the conflict minerals provisions. “Americans deserve greater access to consumer products and advice, more transparency and accountability, and most of all a stronger economy that boasts a level playing field and spurs job growth and creation,” House Financial Services Oversight Subcommittee Chairwoman Ann Wagner, R-Mo., said in a statement. “The Financial CHOICE Act will deliver on these promises.” On the Senate side, Foreign Relations Africa Subcommittee Chairman Jeff Flake, R-Ariz., in early April said his panel would consider whether any legislative action is needed to modify the SEC rule (see 1704060051). The office of House Majority Leader Kevin McCarthy, R-Calif., didn’t comment on when the full House might vote on the bill.
The Senate on May 4 passed fiscal year 2017 omnibus legislation that would fund the federal government through Sept. 30 and avoid a shutdown, if President Donald Trump signs it by the end of the day May 5. The House on May 3 passed the compromise bill, which would require CBP to brief Congress on ACE development efforts within 90 days of enactment (see 1705010037). The White House didn’t immediately comment.
Intellectual property rights (IPR) protection and opening up the Chinese market to U.S. beef, chicken and dairy products will be among the priorities of Iowa Gov. Terry Branstad if confirmed to serve as U.S. ambassador to China, he told members of the Senate Foreign Relations Committee May 2. Branstad said he hopes that his longtime relationship with current Chinese President Xi Jinping will help him convince Xi to cooperate with the U.S. on “these critical issues, where China has not adequately addressed the protection of these important intellectual property rights.” In remarks (here) during Branstad’s confirmation hearing, committee Chairman Bob Corker, R-Tenn., called out China for its “outright theft” of intellectual property as “something that has to end.” He added: “The discriminatory trade and investment practices, in addition, are just a few of the areas of rising tension in the relationship between the United States” and China.
In a letter to Commerce Secretary Wilbur Ross (here), 31 House Democrats urged the Commerce Department to quickly intensify its trade enforcement focus regarding Russia. “While trade enforcement issues continue to be raised by this administration, to-date there has not been sufficient attention to the U.S.-Russia bilateral trade relationship,” the lawmakers wrote. The letter cited Russian protectionist policies as contributing to an 85 percent decrease in U.S. agricultural exports to the country between 2012 and 2016, down from $1.6 billion in 2012. Russia also props up failing industries through “massive subsidies,” employing “state-driven import substitution tactics” and state-owned enterprises (SOEs) to undercut U.S. exports, the lawmakers said. For instance, Russia recently blocked SOEs with 50 percent or more government ownership from buying U.S. automobiles, heavy machinery and metal products, they wrote. “We look forward to working with you to ensure that the U.S.-Russian bilateral trade relationship is fair, equitable and in the best interest of America’s workers,” the lawmakers said. “Russia’s predatory and protectionist trade practices must not go unchallenged.” Commerce didn’t comment.
Sen. Sherrod Brown, D-Ohio, wrote a letter (here) to President Donald Trump May 1 laying out recommendations for NAFTA renegotiations. Brown recommended that Trump secure Buy American provisions up front and develop negotiating plans for sectors vulnerable to or that have experienced outsourcing, among other things. Brown called for the Trump administration to obtain prenegotiation commitments from Mexico on resolving long-standing concerns on implementation of “core international standards,” including freedom of association and collective bargaining. For negotiating plans for sensitive industries, the administration should include proposals to strengthen rules of origin, create tariff “snapbacks” and establish reciprocity requirements to prevent dumping from impacting those sectors, Brown said. The U.S. should also make its proposals for the deal public before and after negotiating rounds, which should prevent “corporate stakeholders from disproportionately and privately influencing trade policy,” he said. Brown also urged Trump to redesign trade advisory committees to make sure consumers, workers, and environmental and public interest advocates are equally represented and able to contribute meaningfully to trade negotiations. The White House didn’t comment.
The Trump administration is willing to work with House Republicans on the 20 percent of their respective tax plans that don’t align, including border adjustability, House Ways and Means Chairman Kevin Brady, R-Texas, told reporters April 30. Treasury Secretary Steven Mnuchin “has indicated he’s willing to work with us on border adjustability, to refine that, because … [President Donald Trump] is dead serious about leveling the playing field for American companies and workers,” Brady said. “We’re not going to have a tax code that favors foreign products and foreign workers over American products and American workers.” Ways and Means Republicans met during a retreat to discuss tax reform April 30 and May 1. The White House tax reform plan released April 26 omitted border adjustability elements (see 1704260036). Brady said that his committee will likely hold hearings on tax reform this month.
Fiscal year 2017 spending legislation expected to be voted on by the House Appropriations Committee on May 3 contains language to provide ICE $15 million to investigate intellectual property rights violations, including operation of the National Intellectual Property Rights Coordination Center, as well as $6 million for ICE enforcement of laws against child labor, according to a House Appropriations Homeland Security Subcommittee report on the bill (here). Those funds are expended through ICE’s operations and support account, which House appropriators are proposing to fund at $6.2 billion in FY 2017, $900 million less than President Donald Trump’s March request (see 1703160022). The legislation (here) would also add $31 million to the CBP operations and support account for FY 2017, an amount which could be offset by amounts collected from outside entities for preclearance operations.
The House and Senate on April 28 passed a one-week continuing resolution (here) that would stave off a government shutdown until at least May 5 if signed by the president on the same day. The CR would fund CBP and other trade agencies through May 5 at the same levels as the previous fiscal 2017 CR.
The Senate Health Committee on April 27 cleared for floor consideration the nomination of Scott Gottlieb to serve as FDA commissioner, the committee announced (here). President Donald Trump sent Gottlieb’s nomination to the Senate last month (see 1703270066).
The Senate on April 27 voted to confirm Alexander Acosta to serve as labor secretary. The Senate Health, Education, Labor and Pensions Committee on March 30 voted to clear the nomination of Acosta for floor consideration.