On November 1, 2018, U.S. Attorney General Jeff Sessions announced the creation of a “China Initiative” aimed at identifying priority Chinese trade theft cases for investigation and enforcement. In prepared remarks, Sessions emphasized that “This theft is not just wrong; it poses a grave threat to our national security. And it is unlawful.” The
Thompson Hine International Trade
USTR Requests Comments on Objectives for a U.S.-Japan Trade Agreement
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…
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,…
Revised Korea-U.S. Free Trade Agreement to Be Signed
With the international trade community’s focus on China (tariffs) and Mexico/Canada (NAFTA negotiations), it would be easy to forget another significant trade matter that the Trump administration has been seeking to finalize. According to reports, the revised Korea-U.S. Free Trade Agreement (KORUS) will be signed today after President Trump and South Korean President Moon Jae-in meet in New York City, where both are attending the start of the United Nations’ General Assembly plenary session.
United States to Implement Additional Import Tariffs on $200 Billion of Chinese Products
The Office of the U.S. Trade Representative (USTR) has announced that President Trump is moving forward with additional tariffs in its Section 301 investigation involving China’s acts, policies and practices related to forced technology transfers and intellectual property rights. The USTR has finalized a third list of Harmonized Tariff Schedule (HTS) subheadings resulting in additional tariffs of $200 billion on imports of Chinese products. The additional tariffs will go into effect September 24, 2018, and will be 10 percent at the start. The USTR has stated that these tariffs will increase to 25 percent on January 1, 2019.