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With the enforcement function of the World Trade Organization having been broken amidst escalating trade tensions, the new facilitator for overseeing the reform of the fractured dispute settlement system has her task cut out, particularly in restoring a binding Appeal/Review mechanism that provides legal certainty in resolving global trade disputes, said people familiar with the development.
House Ways and Means trade subcommittee Chair Adrian Smith (R-Neb) has introduced legislation to restore the miscellaneous tariff bill process, with support from 19 Republican colleagues including 17 fellow Ways and Means Committee members.
“Renewing the Miscellaneous Tariff Bill is essential to reducing barriers for American manufacturing and agriculture, supporting jobs, private sector growth, and our overall economic competitiveness, while upholding Congress’ constitutional authority over trade,” Rep. Smith said.
Sen. Elizabeth Warren (D-Mass) and three House Democrats criticized the Commerce Department for what they say are inadequate steps to address assault weapons exports.
At the same time, the lawmakers praised the US Trade Representative’s Office for no longer classifying as trade barriers import license requirements for explosives, firearms and ammunition in its latest National Trade Estimate report.
The Administration is very concerned that China may try to evade the new 100 percent tariffs on Chinese electric vehicles, Commerce Secretary Gina Raimondo told lawmakers Wednesday.
The US Trade Representative’s Office, with assistance from the Commerce Department, is looking at how to ensure Chinese EVs made in Mexico are still subject to the tariff, she told members of the Senate Appropriations commerce, justice, science and related agencies subcommittee.
China severely chastised the United States for its decision to levy high tariffs on imports of several major items from China, including 100 percent tariffs on electric vehicles, lithium batteries, photovoltaic cells, key minerals, semiconductors, steel and aluminum, port cranes, personal protective equipment, and other products.
Guidance regarding the United States Trade Representative’s (USTR’s) conforming amendment to one previously reinstated Section 301 exclusion, replacing Harmonized Tariff Schedule of the United States (HTSUS) classification 2929.90.5090 with HTSUS classification 2929.90.5095 effective January 1, 2024.
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