The Congressional Research Service has issued two reports stating that the March 2011 earthquake and tsunami that occurred in Japan and the following nuclear crisis at Fukushima are having large negative effects on Japan's economy, particularly due to the subsequent radioactive contamination, and extensive damage to infrastructure and manufacturing plants.
The Congressional Research Service has released a report stating that some members of Congress have expressed concern over U.S. acquisition of rare earth elements1 that are used in various components of defense weapon systems.
The U.S. Chamber of Commerce has issued a letter to Congress in support of an amendment expected to be offered by Rep. Cole to H.R. 1540, the “National Defense Authorization Act of 2012." The Chamber states that the Cole Amendment, offered in response to a draft Executive Order under consideration by the Obama Administration, would preclude the White House from forcing federal agencies to require entities to disclose their political spending as a condition of participating in the federal procurement process.
On May 25, 2011, the following trade-related bills were introduced:
The American Association of Port Authorities has issued a press release in support of an editorial on Politico.com by House Transportation and Infrastructure Committee Chairman Mica (R) in which he specifically addressed the federal harbor maintenance tax issue by stating "...despite growing maritime infrastructure needs, these funds are not being used for their intended purpose of maintaining our ports." According to AAPA, Chairman Mica's vision for reauthorizing the nation's surface transportation legislation goes beyond the traditional "highway bill" approach and is expected to address road, rail, transit and maritime for a comprehensive solution to many of the transportation problems the nation faces.
On May 26, 2011, the Senate Judiciary: Committee ordered favorably reported S. 968, a bill to prevent online threats to economic creativity and theft of intellectual property, with an amendment in the nature of a substitute. (See ITT’s Online Archives or 05/17/11 news, 11051711, for BP summary of S. 968.)
At a May 26, 2011 Senate Foreign Relations Committee hearing on the President’s nomination of Commerce Secretary Locke to be the U.S. Ambassador to China, Committee members questioned Locke on a variety of issues, including his plans for protecting U.S. intellectual property, encouraging Chinese currency reform, and addressing other trade issues of concern.
The House Energy and Commerce Committee has postponed its markup of H.R. 1939, a bill to revise the Consumer Product Safety Improvement Act of 2008 (CPSIA) and allow the Consumer Product Safety Commission greater authority and flexibility to regulate based on risk. The Committee has not yet set a date, but expects to consider the bill sometime during the week of May 31, 2011. H.R. 1939 is called the Enhancing CPSC Authority and Discretion Act of 2011. (See ITT’s Online Archives or 05/13/11 news, 11051308, for BP summary of the bill as reported by the Subcommittee on Commerce, Manufacturing, and Trade on May 12, 2011.)
At a May 26, 2011 Senate Finance hearing, Administration, business, and labor witnesses testified on their support for or opposition to the Korea Free Trade Agreement. This hearing addressed the Administration’s linkage of the pending FTAs and TAA, as well as some of the specific provisions in KORUS.
On May 26, 2011, the House passed H.R. 1540, to authorize appropriations for fiscal year 2012 for military activities of the Department of Defense and for military construction and to prescribe military personnel strengths for fiscal year 2012.