The absence of General System of Preferences (GSP) tariff cuts have continued to take a significant toll on the revenues of U.S. importers across the commercial spectrum since the program’s July 2013 expiration, said 463 companies in a Jan. 28 letter addressed to House lawmakers and published by Renew GSP Today. “Over the past five and a half months, American companies like ours -- and our members -- have paid nearly $2 million per day in higher taxes while waiting for Congress to renew the program,” said the letter. “Most importantly, we use the GSP program to lower costs and remain competitive, and therefore need Congress to pass a retroactive renewal bill immediately.”
The fast-track measures in the Bipartisan Congressional Trade Priorities Act, including a 90 day timeframe to vote on trade pact implementation legislation and the removal of an amendment process, ensure the new negotiating objectives introduced in the legislation are not sufficiently enforceable, said a group of more than 550 labor, environmental and other advocacy groups in a Jan. 27 letter to members of Congress. The letter expressed strenuous opposition to the bicameral bills, HR-3830 (here) in the House and S-1900 (here) in the Senate. “A new form of trade authority is needed that ensures that Congress and the public play a much more meaningful role in determining the contents of U.S. trade agreements. Critically, such a new procedure must ensure that Congress is satisfied with a trade agreement’s contents before a pact can be signed and subjected to any expedited procedures,” said the letter. “HR-3830/S-1900 is an abrogation of not only Congress’ constitutional authority, but of its responsibility to the American people. We oppose this bill, and urge you to do so as well.”
The House passed on Jan. 29 the Agricultural Act of 2014 (here) conference report, this year’s iteration of the Farm Bill, with a 251-166 roll call. The legislation retains a number of provisions that industry opponents claim will encourage World Trade Organization (WTO) sanctioned retaliation in the future, such as U.S. Department of Agriculture (USDA) country of origin labeling (COOL) regulations on meat and poultry imports and the Catfish Inspection Program.
The Export-Import Bank has failed to meet designated targets for small and medium-sized business transactions since 2012 reauthorization, building off a history of inability to meet its 20 percent small business authorization mandate, said Senate Banking, Housing and Urban Affairs Committee Ranking member Mike Crapo, R-Idaho, at a Jan. 28 committee hearing. Led by President Fred Hochberg, the bank still plays a critical role in countering disproportionate, foreign government subsidies on exports, said Crapo.
The Senate Foreign Relations Committee intends to hold a mark up on Feb. 4 to vote on the nomination of Finance Committee Chairman Max Baucus, D-Mont., as ambassador to China, said Foreign Relations Committee Chairman Robert Menendez, D-N.J. during the Jan. 28 nomination hearing (see 14012817). Baucus must first, however, answer additional for-the-record questions by Jan. 29, said Menendez.
The 113th Congress may target Generalized System of Preferences renewal, Andean Trade Preference Act reauthorization and Trade Adjustment Assistance legislation, along with Trade Promotion Authority and trade pact implementation legislation in coming months, said a Jan. 23 Congressional Research Service (CRS) in a report titled “International Trade and Finance: Key Policy Issues for the 113th Congress, Second Session." The current Congress may also increasingly bring attention to CBP failures to fully collect antidumping (AD) and countervailing duty (CVD) measures, said the report.
New lobbyist registrations on trade-related issues include:
Recent trade-related bills introduced in Congress include:
The emerging trade issues the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership will inevitably address should encourage all lawmakers to embrace Trade Promotion Authority legislation, said a Los Angeles Times editorial published on Jan. 26. The administration is floating positive proposals in both negotiations, but there continues to be room for improvement, said the editorial. “If Congress wants these treaties to be more to its liking, lawmakers need to stop dithering and give the president a new set of marching orders on trade,” said the editorial.
The U.S. livestock and poultry industries will actively oppose passage of a final Farm Bill conference report, should it contain country of origin labeling (COOL) regime that fails to meet World Trade Organization compliance standards, said six meat and poultry organizations in a Jan. 27 letter to the four Farm Bill conferees. The inclusion will invite Mexican and Canadian tariff hikes that will damage U.S. industry, said the organizations.