Issue 110 | August 16, 2019
USTR sets dates for hearing to assess Chinese, Russian WTO commitments
 
China and Russia will face hearings about their duties to the WTO this fall, with the USTR set to head the panel. Dates have been set for early October for the two countries. The panel is set to review Chinese compliance to its previous commitments, and Russian execution of its responsibilities to the WTO. Read more
 
U.S. can't meet China 'halfway' in trade talks, Navarro says
 
White House trade adviser Peter Navarro has stated that President Trump's decision to delay enacting tariffs should allow markets to have more certainty. He also specified that U.S. negotiators will meet with Chinese counterparts in two weeks to discuss the seven issues that the administration believes it needs to solve with China. He said the biggest issue is with the Fed, which should cut its rates. Read more
 
Pelosi threatens to block U.S.-U.K. post-Brexit trade deal
 
House Speaker Nancy Pelosi has said that the Good Friday Agreement must be upheld, or else there will not be a trade deal between the U.S. and U.K. after the latter officially leaves the EU. This comes shortly after national security advisor John Bolton visited new British Prime Minister Boris Johnson and claimed that a deal with Britain was the top trade priority for the United States. There remain worries that Britain leaving the EU without a deal, which it has only two more months to get, will lead to increased tensions at the border. Read more
 
Ross: No 'quid pro quo' for delayed tariffs on Chinese goods
 
Commerce Secretary Wilbur Ross announced that the recent reversal or delay of tariffs on a variety of Chinese goods was not done as part of a deal with China, and was simply in the best interest of the United States. He also made it clear that there is still a lot of uncertainty surrounding trade talks, and that this decision was not influenced by recent events such as the stock market dip or the Hong Kong protests. Instead, he spoke of how the administration has analyzed the situation for a while and was that these plans were not spur-of-the-moment. Read more
 
Retailers wrestle with a volatile trade policy with China
 
Businesses all over the country are attempting to stay afloat amid the confusion of tariffs between the U.S. and China. For them, the most difficult thing is not the tariffs themselves, but the doubt about what will happen. Recent tariffs on almost all remaining Chinese goods that the U.S. imports have been postponed or removed altogether on more than half of the products originally listed. This means that companies which had just made a plan to deal with the tariffs now have to go over the list and see if they have to change it again. Companies are complaining that having to deal with the constant changes to tariffs takes away time from all other parts of running their business, such as marketing and innovation. Read more
 
Mexican president predicts the United States will ratify trade deal in September
 
Mexico President Andres Manuel Lopez Obrador said that he expects the U.S. to ratify the U.S.-Mexico-Canada Agreement next month, and it will have positive effects. The Mexican Senate has already done so and now awaits its Canadian and U.S. counterparts. The administration has been pushing the deal to get passed quickly, while Democrats have held it up due to concerns about labor, enforcement, climate change and pharmaceuticals that they hope to address. Read more
U.S. and Japan make progress toward trade deal by September
 
The U.S. and Japan have made progress in their trade discussions on a bilateral deal, with the main issues remaining being farm products and cars. These discussions will be the basis of talks later this month between USTR Robert Lighthizer and his Japanese equivalent, Toshimitsu Motegi. These talks are anticipated to figure out the last remaining issues so that the heads of each country can agree on a broad agreement at the annual U.N. general assembly in late September. Read more
Global Issues Affecting the Los Angeles Region
Tuesday, Aug. 20
 
Join the Global Initiatives Council to hear from Dr. Chris Thornberg, founder of Beacon Economics. Thornberg will comment and discuss how several international situations such as the China-U.S. trade truce, Brexit, and more affect the region's employment, economic adjustments and growth. The session will also feature special remarks by Congressman Jimmy Gomez of California's 34th Congressional District. RSVP here.
 
Compiled by Center for Global Trade & Foreign Investment intern Nicholas Collins.

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