In his State of the Union address to Congress last night, President Donald Trump spoke of the “great American comeback” and claimed that “[t]he years of economic decay are over. The days of our country being used, taken advantage of, and even scorned by other nations are long behind us.” His prepared speech focused briefly
USTR Announces Additional Section 301 Tariff Exclusions for Certain Imported Chinese Products on List 3
The Office of the U.S. Trade Representative (USTR) has published a Federal Register notice announcing additional Section 301 tariff exclusions for certain imported Chinese products appearing on List 3. These products have been subject to Section 301 tariffs since September 24, 2018, when President Donald Trump announced additional import duties on Chinese goods with an
OFAC Announces Additional Crimea-Russia Sanctions
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned eight individuals and one entity in response to Russia’s continued aggression toward Ukraine and attempted occupation of Crimea, which the United States continues to view as an illegitimate annexation since it occurred in 2014. OFAC has designated and placed on the Specially
President Trump Signs USMCA; Canada Ratification Remains Necessary Before Effective Implementation
On January 29, 2019, President Donald Trump signed the United States-Mexico-Canada Agreement (USMCA) and in remarks at the White House stated that the agreement is “the largest, fairest, most balanced, and modern trade agreement ever achieved.” He added that the agreement is “a colossal victory for our farmers, ranchers, energy workers, factory workers, and American
President Trump Initiates New Section 232 Tariffs on Imports of Derivative Steel and Aluminum Products
On January 24, 2020, President Donald Trump issued a Presidential Proclamation directing the Department of Commerce to adjust the tariff rate on imports of derivative steel and aluminum products into the United States. In earlier proclamations (see Trump and Trade Update of March 8, 2018), the president directed Secretary of Commerce Wilbur Ross to
Department of Justice Opines that Commerce Does Not Have to Release Section 232 Report on Imports of Automobiles and Automotive Parts
In a Memorandum Opinion for the Deputy Counsel to President Donald Trump, the Department of Justice’s Office of Legal Counsel (DOJ) determined that “the President may direct the Secretary of Commerce not to publish a confidential report to the President under Section 232 of the Trade Expansion Act of 1962, notwithstanding a recently enacted statute
CFIUS Publishes Final Regulations to Reform National Security Reviews for Certain Foreign Investments and Real Estate Transactions in the United States
The Committee on Foreign Investment in the United States (CFIUS) has published its final regulations to fully implement the updated national security review process of foreign direct investments in the United States as set forth in the Foreign Investment Risk Review Modernization Act (FIRRMA). This law made various amendments to the CFIUS review process, including
Congress Approves United States-Mexico-Canada Trade Agreement; President Trump Scheduled to Sign Legislation Next Week
The U.S. Senate has approved by a vote of 89 to 10 the required implementing legislation for the U.S.-Mexico-Canada Agreement (USMCA). After months of negotiations by Democrats in the House of Representatives with U.S. Trade Representative Robert Lighthizer (see Trump and Trade Updates of December 10, 2019 and December 16, 2019), H.R. 5430 was
The United States and China Sign “Phase One” Trade Agreement
On January 15, 2020, after two years of negotiations and retaliatory measures in a tariff trade war, the United States and China signed a “phase one” trade agreement that President Donald Trump called “historic” and “transformative.” In remarks during the signing ceremony, Trump said, “Today, we take a momentous step — one that has never
Section 301 Tariffs on List 4A Chinese Products Reduced to 7.5% on February 14, 2020
The U.S. Trade Representative (USTR) announced this week that the current Section 301 tariff of 15 percent on List 4A Chinese products will be reduced to 7.5 percent as of 12:01 a.m. on February 14, 2020. This reduction, which will be formally published in an upcoming Federal Register notice, covers all HTS subheadings in