The Senate Finance Committee will consider the nomination of Darci Vetter as chief agricultural negotiator at the Office of the U.S. Trade Representative during a May 8 hearing, the committee said. President Barack Obama sent the nomination to the Senate on Jan. 7, and agricultural groups have since expressed support (see 14011315).
Recent trade-related bills introduced in Congress include:
The draft fiscal year 2015 appropriations bill for the Departments of Commerce and Justice, Science, released on April 29, would bolster funding for several trade related agencies, but are below the Obama administration's prescribed funding levels. The Commerce, Justice, Science and Related Agencies subcommittee marked up the draft bill on April 30, but lawmakers did not add any significant amendments, said a committee spokesman. The draft has not yet been formally introduced.
The Export-Import Bank reauthorization legislation submitted to Congress in recent days would boost the credit agency’s lending cap by $20 billion, said House Financial Services Committee Chairman Jeb Hensarling, R-Texas in an April 25 statement, while calling renewal “a bad idea.” The bank manipulates markets, represents “the face of cronyism” and is poorly managed, said Hensarling. The chairman has been a staunch and vocal opponent of the bank (see 14032526). The bank’s charter expires on Sept. 30. Hensarling vowed to consider reauthorization legislation, however, in response to pressure from House Democrats over recent months (see 14042427). "The committee will hold a hearing in the coming months to discuss this reauthorization request and give members an opportunity to publicly debate the merits of the Bank," said Hensarling.
The Obama administration and Congress should expand sanctions on the Russian financial, energy, metals, mining, engineering, and defense sectors due to recent Russian destabilization of Ukraine, said Senate Armed Services Committee Chairman Carl Levin, D-Mich., on April 25, speaking in Kyiv, Ukraine. In accordance with Executive Order 13661 (here), the U.S. should also sanction additional banks, said Levin. President Barack Obama issued the order on March 16. The U.S. has sanctioned dozens of Russians and Ukrainians since the beginning of March, along with one bank (see 14032024).
Congress is looking at legislative language that would renew the Export-Import Bank's charter beyond its expiration at the end of this fiscal year, said House Democratic Whip Steny Hoyer, D-Md., as he expressed support for quick reauthorization. "Congress must put this matter to rest as soon as possible by reaffirming its support for the Bank's mission and passing a multi-year reauthorization that can restore certainty to the businesses the Bank serves. I look forward to working with Members on both sides of the aisle to reauthorize the Export-Import Bank in the near term." Hoyer pushed reauthorization with House Financial Services ranking member Maxine Waters, D-Calif., along with other Democratic lawmakers, during a press conference earlier in April (see 14041028). At the press conference, the lawmakers said uncertainty surrounding reauthorization would deter potential business partners overseas. The bank’s charter expires on Sept. 30, but some House Republicans have blocked reauthorization legislation (see 14021018).
Senate Finance Committee Chairman Ron Wyden, D-Ore., postponed to May 1 at 11:00 a.m. the committee hearing on the Obama administration trade agenda, the committee said in a press release. The hearing was previously set to take place on April 30. U.S. Trade Representative Michael Froman will testify at the hearing.
The U.S. dairy industry faces a $1.3 billion trade deficit with the European Union (EU) due to persistent protectionist policies that should be dismantled in Transatlantic Trade and Investment Partnership (TTIP) negotiations, say lawmakers in a letter to Agriculture Secretary Tom Vilsack and U.S. Trade Representative Michael Froman. The letter continues to circulate in the House. There is currently no target date for submission, said a spokesman for Rep. Reid Ribble, R-Wis., one of the letter's lead sponsors.
The U.S. should not permit Japan to accede to a final Trans-Pacific Partnership (TPP) pact, unless the country eliminates tariff and non-tariff barriers to U.S. agricultural products, said lawmakers in an April 21 letter to Agriculture Secretary Tom Vilsack and U.S. Trade Representative Michael Froman. The letter garnered 63 signatures, according to a spokesman for co-sponsor, Rep. Vicky Hartzler, R-Mo. Froman is accompanying President Barack Obama on his tour of four Asian countries this week, and many industry officials expect the pair to press market access concessions during the leg in Tokyo. “Not only would special treatment for sensitive agriculture products be inconsistent with U.S. requests in previous trade agreements and assurances provided when Japan was invited to join TPP, but also could undermine the careful balance of concessions the other eleven economies have achieved,” said the letter. “If Japan is allowed exemptions, other TPP countries could demand similar treatment and the entire agreement would be at risk of unraveling.” Japan continues to resist tariff elimination on rice, pork and beef, wheat, dairy and sugar (see 14042113).
Despite annual calls for changes to the Dominican Republic “Two for One” Earned Import Allowance Program, Congress has displayed a puzzling lack of will to resolve problems that render the program unusable to industry, said the American Apparel & Footwear Association in comments to the International Trade Commission dated April 11. Every year since the program’s inception in 2009, the ITC has told Congress of issues with the program, said AAFA. Yet every year, apparel imports from the Dominican Republic have declined while Congress has failed to act.