Issue 107 | May 17, 2019
Pelosi To Talk U.S.-Mexico-Canada Agreement with Lighthizer

Speaker Nancy Pelosi, House Ways and Means chair Richard Neal and other top House democrats will meet with the U.S. trade chief this afternoon to talk about the NAFTA replacement, which President Donald Trump has dubbed the United States Mexico Canada Agreement (USMCA). The escalating tensions with China are also expected to be discussed. Read more
 
Trump Sees China Trade Deal When the Time Is Right

The President promises to protect farmers hit by retaliatory tariffs and leans on the Fed as fight with Beijing escalates. On Friday, the U.S. imposed duties on $200 billion of Chinese imports as the latest round of talks hit an impasse. In response, China said on Monday it would raise tariffs on roughly $60 billion of U.S. imports on June 1. The U.S. is also working on a new round of tariffs that would apply to about $300 billion of Chinese imports, though Trump has said he hasn't decided yet whether he will impose them. Read more
 
U.S. Cheese Producers Ask Trump for Help Against Europe's GIS
 
The U.S. cheese industry today called on President Donald Trump to review a "deep" trade imbalance in cheese sales between the United States and European Union amid ongoing trade negotiations. The industry blames the deficit on the EU's decision to restrict U.S. producers from marketing their cheese products to European nations with food names including asiago, feta and parmesan. The trading bloc deems these terms specific to the region under labels called geographic indications. The U.S., on the other hand, allows European producers to use those cheese names when selling their products in the U.S. market. Read more
 
Mexican Official: New Section 232 Retaliation List Could Be Ready In Two to Three Weeks
 
Mexico is preparing to hit a new list of U.S. goods with retaliatory tariffs in no sooner than two weeks, Mexican economy secretary Graciela Márquez Colín said on Tuesday. Asked whether Canada and Mexico were coordinating retaliatory tariff efforts, Freeland said "We have coordinated closely throughout the [North American Free Trade Agreement] process. Today's meeting was an important opportunity to do that and as I said one of the issues we discussed was the 232 tariffs and ways in which our countries can work together to re-establish free trade." Freeland will be in Washington, D.C., on Wednesday to discuss the U.S.-Mexico-Canada Agreement ratification process and Section 232 tariffs with Lighthizer, possibly Senate Finance Committee chair Chuck Grassley (R-IA) and "many others," she said. Read more
 
Brazil and U.S. Hit Restart Button on Trade Relations

Relations between Brazil and the U.S. -- two of the biggest economies in the western hemisphere -- withered from mutual neglect for most of the 13 years of leftist Workers' party rule in Brazil that ended in 2016. Despite the desire of both administrations to take advantage of the conservative ideological camaraderie -- and their meeting of minds on removing Nicolás Maduro from power in Venezuela -- the reality is that full-blown trade talks are not high on the agenda for Washington.
Read more
 
Trump Didn't Start This Trade War, China Did
 
This opinion article offers a new perspective on the U.S.-China trade war. An excerpt reads, "Trump is wrong when he says tariffs are good for our economy because China is paying us "hundreds of billions of dollars" in tariff revenue -- money he can use to help farmers withstand the blow of lost sales to Beijing. China is not paying the cost of tariffs. American businesses and consumers are paying. But the fact that Trump mistakenly believes tariffs are good for the economy should have sent a signal to Beijing. He thinks he's in a win-win situation, and that means, in this game of chicken, Trump "is not going to blink." Read more
Success in Today's Global Trade Landscape
June 18, 2019
 
Join the Global Initiatives Council to hear from Ryan Patel, featured on CNN, BBC and more, as he sheds light on how businesses can not only sustain but thrive in a constantly changing and complicated global marketplace. RSVP here.
 
Compiled by Center for Global Trade & Foreign Investment coordinator Janice Atmadja

For more information, contact Jasmin Sakai-Gonzalez, 213.580.7569.