With the Trump administration preparing to release its tax reform plan in the next several weeks, the Congressional Research Service (CRS) has just released a timely report on the border adjustment tax (BAT). The report offers an analysis of House Speaker Paul Ryan’s proposal of a destination-based cash flow tax (DBCFT), a type of national
April 2017
Hearing and Request for Comments on U.S. Trade Deficit
The Department of Commerce and United States Trade Representative will hold a public hearing and seek written comments to assist in the analysis called for in Executive Order 13786 (see our prior update, “Executive Order Calls for Omnibus Report on Significant Trade Deficits”). The trading partners with which the United States had a…
President Trump Signs “Buy American and Hire American” Executive Order
On April 18, 2017, President Trump signed an executive order seeking stricter enforcement of federal procurement policies and revamping the H-1B guest-worker visa program. In remarks on signing the order, Trump stated, “With this action, we are sending a powerful signal to the world: We’re going to defend our workers, protect our jobs, and finally…
Draft Notice to Congress Indicates Administration’s Intent to Begin Renegotiating NAFTA
In a draft letter to the Senate and House of Representatives, the Trump administration appeared closer to formally announcing and notifying Congress of its intent to begin renegotiating the North American Free Trade Agreement (NAFTA). The draft notes that the “persistent U.S. deficit in goods trade with Canada and Mexico demands that this administration take…
Commerce Moves to Review China’s “Nonmarket Economy” Status
The Trump administration on April 3, 2017 issued a notice of initiation and request for public comment and information pertaining to whether the People’s Republic of China (PRC) should continue to be treated as a nonmarket economy (NME) country under the antidumping and countervailing duty laws. The notice in the Federal Register indicates that this…
Executive Order Calls for Omnibus Report on Significant Trade Deficits
President Trump signed an executive order on March 31 requiring that the secretary of Commerce prepare and submit a report that examines the causes of trade deficits within 90 days (i.e., by June 29, 2017). The analysis will focus on the major causes of trade deficits, including, as applicable, differential tariffs, non-tariff barriers, injurious dumping,…