On October 16, 2018, the United States Trade Representative (USTR) notified Congress of the Trump administration’s intention to enter into negotiations with Japan for a U.S.-Japan Trade Agreement. (See Trump and Trade Update dated October 17, 2018.) USTR has stated that its aim in the negotiations is to address both tariff and non-tariff barriers
October 2018
Treasury Releases Interim Rules Expanding Scope of CFIUS and Creating Pilot Program for Certain Transactions
On October 10, 2018, the U.S. Department of the Treasury issued several amendments and temporary regulations expanding the authority of the Committee on Foreign Investment in the United States (CFIUS). The Foreign Investment Risk Review Modernization Act, enacted as part of the John S. McCain National Defense Authorization Act for Fiscal Year 2019, laid the…
U.S. Trade Representative Announces Intent to Launch Trade Negotiations with Japan, the European Union and United Kingdom
The Office of the U.S. Trade Representative (USTR) announced that the United States is set to launch separate free trade agreement (FTA) negotiations with Japan, the European Union and the United Kingdom. In letters sent to Congress on October 16, 2018, Ambassador Robert Lighthizer wrote: “We are committed to concluding these negotiations with timely and…
U.S. International Trade Commission Initiates Investigation to Assess Likely Impact of USMCA
Following receipt of a request from the U.S. Trade Representative (USTR), the U.S. International Trade Commission (USITC) has initiated investigation No. TPA-105-003 for the purpose of preparing the report required by section 105(c) of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015. The report will assess the likely impact of the United States-Mexico-Canada…
Treasury Releases New Rules Targeting Foreign Investment in U.S. Industries
On October 10, 2018, the U.S. Department of the Treasury released temporary regulations expanding the authority of the Committee on Foreign Investment in the United States (CFIUS). This important first step comes after the passage of the Foreign Investment Risk Review Modernization Act (FIRRMA), enacted this past August, which laid the initial framework for the…
United States to End Treaty with Iran After 61 Years
U.S. Secretary of State Michael Pompeo announced on October 3, 2018, that the United States would terminate the 1955 “Treaty of Amity” with Iran. The decision was triggered by a ruling issued earlier in the day by the International Court of Justice (ICJ), which ordered the United States to “remove, by means of its choosing,…
NAFTA Becomes the United States-Mexico-Canada Agreement (USMCA)
After successful, last-minute negotiations, Canada and the United States agreed on September 30, 2018 to revise and modernize the North American Free Trade Agreement (NAFTA). The United States and Mexico previously announced their intent to proceed with a revised trade agreement (see Trump and Trade Update dated September 4). In remarks to the press,…