The American Apparel and Footwear Association (AAFA) led a delegation of industry representatives to Capitol Hill during the week of July 21-25 to discuss the "Preservation of the First Sale customs valuation program", the expired Generalized System of Preferences and Miscellaneous Tariff Bill laws, and other issues, said AAFA in a press release. While the AAFA didn't specify which lawmakers the delegation met with, it said they consulted with congressional leadership, as well as members of the Senate Finance and House Ways and Means Committees. AAFA will lead other visits to the Capitol in the coming weeks and months, said the release.
The House is scheduled to consider on July 28 the U.S. Customs and Border Protection Authorization Act, HR-3846 (here), the Office of the House Majority Leader said. The legislation would give formal congressional authorization for many CBP functions for the first time (see 14052101). The House Homeland Security Committee Subcommittee on Border and Maritime Security amended and approved the bill on May 20. The legislation then passed through the full House Homeland Security and Ways and Means committees on July 24 (here).
Recent trade-related bills introduced in Congress include:
The House Foreign Affairs Subcommittee on Terrorism, Nonproliferation and Trade will hold a July 29 hearing on the potential economic and national security impacts of the Transatlantic Trade and Investment Partnership (TTIP). The witnesses scheduled to testify are as follows:
Recent U.S. sanctions on Russians and Ukrainians accused of fueling turmoil in Ukraine are having and likely will continue to have an unclear impact on the Russian economy, said the Congressional Research Service (CRS) in a July 18 briefing, citing prominent arguments among unspecified analysts. Many analysts believe unilateral U.S. sanctions will not have the level of impact the Obama administration is targeting, noting that cooperative European sanctions are critical, said CRS. “Some argue that the direct effects on Russia's economy overall could be limited, because the United States accounts for a small share of Russia's trade and capital inflows,” said CRS. “Russia's economic relationship with Europe is much stronger.” U.S. sanctions on the Russian financial sector could, however, significantly “disrupt” the Russian economy, and the measures may also undermine investor confidence in Russia, said CRS.
The U.S. should revoke its country of origin labeling (COOL) rules if the World Trade Organization deems them non-compliant, dozens of House lawmakers say in a letter being circulated in the chamber. The letter, intended to be submitted to Agriculture Secretary Tom Vilsack and U.S. Trade Representative Michael Froman on July 25, has garnered more than 70 signatures, confirmed a spokesman for Rep. Rick Crawford, R-Ark. House Agriculture Committee members Crawford and Rep. Jim Costa, D-Calif., are at the forefront of the effort, said the spokesman.
The Obama administration should impose additional sanctions on Russia in response to its support for secession in eastern Ukraine, said three Democratic senators on July 22, saying sanctions could help to prevent continued turmoil in the country. Russia is potentially culpable in the surface-to-air missile attack that downed Malaysia Airlines Flight MH17 and killed nearly 300 people on July 17, along with efforts to conceal evidence in the days that followed the attack, added Sens. Bob Menendez, D-N.J., Dianne Feinstein, D-Calif., and Carl Levin, D-Mich. “We strongly urge you to aggressively exercise your authorities under the International Emergency Economic Powers Act and other relevant statutes to impose immediate broad sanctions against Russia’s defense sector, including state-owned Rosboronexport, in order to prevent Russia from providing weaponry, equipment, or assistance and training to separatists in Ukraine,” said the letter.
The House Ways and Means Subcommittee on Trade will hold a July 29 hearing on the African Growth and Opportunity Act and broader U.S. trade with Africa, subcommittee Chairman Devin Nunes, R-Calif., announced on July 22. Stakeholders are pressing for quick renewal of the law in order to safeguard existing supply chains (see 14040402). “I am committed to ensuring a bipartisan, timely, and seamless renewal of the program before it expires in September 2015,” said Nunes in his announcement of the hearing. “We are studying potential changes to the program to improve its effectiveness and utilization. We are also exploring how Africa can reduce barriers and become more attractive for trade and investment within Africa, as well as globally, such as through full implementation of the WTO Trade Facilitation Agreement.” The subcommittee has not yet announced the witnesses.
The Senate Finance Subcommittee on International Trade, Customs and Global Competitiveness announced a July 29 hearing on the impact of the U.S.-Korea free trade agreement. The subcommittee has not yet announced the witnesses. The U.S.-Korea FTA entered into force in March 2012.
There is no Export-Import Bank legislation currently in play that the export community is able to rally behind with complete support, said John Hardy, president of the Coalition for Employment through Exports at a July 22 roundtable discussion hosted by the National Association of Manufacturers (NAM). The bank's charter is set to expire on Sept. 30 and the business community is hoping to see a more palatable bill introduced in the next week, said Hardy. Senate Banking Committee member Joe Manchin, D-W.Va., recently released a draft bill to reauthorize the credit agency, though it's unclear how much that bill will change before it's introduced. Two House bills on reauthorization have also been released in recent weeks (see 14071107).