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The United States may need to find “more creative approaches” to addressing China’s overcapacity, since the tradition tariff tool kit may not be enough, Treasury Undersecretary for International Affairs Jay Shambaugh said last week,.
Dealing with the economic fallout of Chinese overcapacity “may warrant our taking defensive action to protect our firms and workers – and the traditional toolkit of trade actions may not be sufficient,” he said in remarks to the Council on Foreign Relations.
The Emerging Technology Technical Advisory Committee (ETTAC) will meet on July 30, 2024. Open Session: 3:30 p.m. – 4:30 p.m. The open session will be accessible via teleconference. To join the conference, submit inquiries to Ms. Yvette Springer at Yvette.Springer@bis.doc.gov .
The State Department issued a Statement of Concern Tuesday focused on certain minerals supply chains from Rwanda and eastern Democratic Republic of the Congo.
The statement clarifies the specific risks associated with manufacturing products using minerals extracted, transported or exported from eastern DRC, through Rwanda and Uganda, according to State.
Every Republican on the House Ways and Means Committee joined together yesterday to demand action from the Administration on Canada’s decision to impose a discriminatory digital services tax on US businesses,
In a letter to US Trade Representative Katherine Tai, the Republicans urged the Administration to launch a Section 301 investigation as a response to Canada’s action.
Trade envoys participating in a one-day retreat on Monday expressed mixed views on issues of transparency, inclusion and small green room meetings, while unable to reach any convergence on the core issue of finding innovative approaches to replace the consensus-based decision-making at the World Trade Organization, said people familiar with the developments. During the retreat, trade envoys apparently held frank discussions on a raft of issues based on the questions circulated by the chair of the WTO’s General Council, Ambassador Petter Olberg of Norway.
The Commerce Department’s Bureau of Industry and Security and the Department of Health and Human Services’ Administration for Strategic Preparedness and Response announced Tuesday that they are conducting a comprehensive assessment of the US Active Pharmaceutical Ingredient industrial base to gain an understanding of the supply chain network.
The resulting information will allow the federal government to more accurately plan and develop funding strategies to help ensure the availability and security of the API supply chain and to raise awareness of current limited domestic manufacturing capabilities, among other potential issues, according to BIS.
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