India has submitted a comprehensive proposal to the facilitator of the informal discussions on reforming the World Trade Organization’s dispute settlement system, Mario Molina, Paraguay's deputy trade envoy. India is pressing for a waiver on the draft text's provisions against cross-retaliation, revealed an unnamed source.

The global merchandise trade finds itself in dire straits due to a slump in manufacturing. Growth has been adjusted down to 0.8 percent for this year, which is less than half of the 1.7 percent increase projected in April. This information comes from figures released by the World Trade Organization’s economists this week. Unlike the UNCTAD’s Trade and Development Report 2023, which suggested economies of EU member countries, especially Germany, as primary contributors to a bleak outlook, the WTO points towards risks from a sharper-than-expected downturn in China and a possible resurgence of inflation in advanced economies.

Last week World Trade Organization's Director-General, Ngozi Okonjo-Iweala, proposed the agenda for the forthcoming capital-based senior officials meeting scheduled to start on October 23 in Geneva. This agenda encompasses controversial, non-mandated subjects that several members are keen on discussing during the meeting.

UNCTAD’s Trade and Development Report, released last week, paints a bleak future for the global economy. The report indicates that world economic output growth is anticipated to slow down to 2.4% in 2023, before experiencing a slight increase to 2.5% in 2024. These figures represent some of the lowest growth rates observed over the past four decades, barring crisis years.

Sens. Thom Tillis (R-NC) and Sherrod Brown (D-Ohio) are urging President Biden to address troubling trade and economic trends with devastating implications for US textile and apparel manufacturing. …

Sen. Bill Cassidy (R-La) has introduced two bills to protect US rice and shrimp against China and India’s dumping of cheap shrimp and produce into US markets. The Prioritizing Offensive Agricultural Disputes and Enforcement Act and the India Shrimp Tariff Act will both protect the agricultural industry while ensuring that food that appears on US store shelves meets US health standards, he said.

Senate Majority Leader Chuck Schumer (D-NY) yesterday formally announced that he is leading a bipartisan Senate delegation to China, Japan and South Korea next week. The delegation’s trip to China is expected to be closely watched at a time when the Administration is trying hard to reset relations with Beijing while many in Congress remain concerned about China’s unfair trade practices and national security risk.

The Commerce Department has launched an updated Semiconductor Alert Mechanism to detect supply chain disruptions and bottlenecks. The Semiconductor Alert Mechanism aims to help industry experts at Commerce detect and assess bottlenecks in the semiconductor supply chains and better mobilize and coordinate US government resources to reduce chokepoint risks.

The sixth round of negotiations under the Indo-Pacific Economic Framework will be held beginning October 15 in Kuala Lumpur. In Malaysia, the IPEF partners will continue to make progress on negotiations towards high-standard outcomes under Pillars I (Trade), III (Clean Economy), and IV (Fair Economy), according to the US Trade Representative’s Office.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced Thursday that the goods and services deficit was $58.3 billion in August, down $6.4 billion from $64.7 billion in July, revised. August exports were $256.0 billion, $4.1 billion more than July exports. August imports were $314.3 billion, $2.3 billion less than July imports. The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.5 billion to $84.5 billion and an increase in the services surplus of $1.0 billion to $26.2 billion.

The United States and Mexico today announced Wednesday 4 October resolution to the situation at a Grupo Yazaki auto components facility in León, Mexico.   United States Trade Representative Katherine Tai had requested the Government of Mexico to review the matter under the United States-Mexico-Canada Agreement’s (USMCA) Rapid Response Labor Mechanism (RRM).  The Government of Mexico declined the request but "worked with the facility to ensure no ongoing denial of rights was taking place."

US and Mexican Trade Officials reported on the accomplishments of the High Level Economic Dialogue (HLED) held last week between Secretary of State Anthony Blinken, Commerce Secretary Gina Raimondo, US Trade Representative Katherine Tai and their counterparts.   Among the accomplishments was the launch of a "joint semiconductor action plan" to accelerate bilateral integration and attract new investment. Left unresolved are the core vexing topics in the bilateral relationship, including GMO Corn, Steel and Aluminum, and Energy and Telecoms.

Rep. Andy Barr’s (R-KY) bipartisan legislation, the Chinese Military and Surveillance Company Sanctions Act of 2023, [HR760] passed unanimously out of the House Financial Services Committee and and will be brought up by the House should it ever return to regular order.

Responding to the failure of the Commerce Department's October 7, 2022 rules to halt innovation at China's Semiconductor Manufacturing International Corporation Incorporated (SMIC),   House Foreign Affairs Committee Chairman Michael McCaul (R-TX) and House Select Committee on the Chinese Communist Party Chairman Mike Gallagher (R-WI) have called on the adminstration to "rectify the failures by the Department of Commerce to enforce export controls on advanced semiconductors."

the Commerce Department’s Bureau of Industry and Security (BIS) added 49 entities to the Entity List for providing support to Russia’s military and/or defense industrial base. Forty-two …

CBP is issuing guidance on conforming amendments to two previously reinstated exclusions associated with the Section 301 investigation of China Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation. 

Chairman Mike Gallagher (R-WI) of the House Select Committee on the Chinese Communist Party wrote to the CEO of the U.S. Navy Exchange, requesting the removal of Lenovo products from the discounted marketplace available to servicemembers. Hong Kong based Lenovo is the world's largest PC vendor and third largest smartphone company. In the second quarter of 2023, Lenovo had a market share of 24 percent of global PC shipments.  In 2005 Lenovo acquired the former Personal Computer Division of IBM, the company that invented the PC industry in 1981.

Newly installed FinCEN Director Andrea Gacki outlined her group's  agenda including a whistleblower rewards program, rules targeting real estate and investment advisors, drug trafficking and the rollout of  beneficial ownership information reporting requirements of the Corporate Transparency Act In a presentation to the Association of Certified Anti-Money Laundering Specialists October 3. Ms. Gacki walked attendees through her objectives since being named to head FinCEN in July.   Prevoiusly she served as chief of Treasury's Office of Foreign Assets Control (OFAC) 

Deputy Attorney General Lisa Monaco announced a "Department-wide Safe Harbor Policy" for voluntary self-disclosures of misconduct by acquirers in the mergers and acquisition process.  

The U.S. Aluminum Extruders Coalition, together with the United Steelworkers (USW) union, has initiated a legal move against 15 countries, alleging unfair trade practices. The coalition claims these countries are significantly undermining the American aluminum extrusion industry by dumping products in the U.S. market at prices below fair value, with some rates as high as 256%.