User ID
Password

 

 

What¡¯s Next for U.S. Trade Policy
Source
American Shipper
Post Date
11/12/2020

Presumptive President-elect Joe Biden is expected to take a more measured and multilateral approach to trade policy than President Trump, observers say, but is also unlikely to make significant short-term changes to the tariffs and other restrictions imposed by his predecessor.
Press reports, citing experts and analysts, indicate that a President Biden will have little political room to reduce or eliminate the Section 301 tariffs currently in place on hundreds of billions of dollars¡¯ worth of goods imported from China. Biden has criticized Trump for the manner in which he imposed the tariffs, which are widely acknowledged to have burdened the U.S. businesses and consumers who ultimately pay them. However, he has also expressed a willingness to utilize tariffs when necessary, though he has pledged to consult with allies as part of that process. Considering that both Republicans and Democrats now appear to agree on the need for the U.S. to take a tougher line on trade with China, while Biden may not levy any new tariffs on China, at least in the near future, he also will likely maintain those already in place until a better solution to the problems the tariffs were designed to address becomes available.
Similarly, there is expected to be little to no change in the existing Section 232 tariffs on steel and aluminum products, industries that are typically sensitive to imports in the best of times and especially so now amid the pandemic-related economic uncertainty. However, there could be room to adjust or eliminate the Section 301 tariffs on imports from the European Union if a Biden administration opts to negotiate a resolution to the two sides¡¯ long-running dispute over aircraft subsidies.
Biden is expected to focus primarily on domestic policy, particularly economic recovery and alleviating the pandemic, and so is unlikely to pursue any new trade agreements in the near term. Ongoing talks with the United Kingdom and Kenya will probably continue, but phase two agreements with China and Japan, as well as ¡°mini-deals¡± with Brazil, India, and others, will likely be on hold for the foreseeable future. The U.S. is also unlikely to pursue membership in the Trans-Pacific Partnership, at least in the near term, and if it does so in the future it will be under revised terms.
On the other hand, a Biden administration is expected to be much more amenable to multilateral cooperation, including within international institutions such as the World Trade Organization. Biden has said he ints to enlist the help of major trading partners to resolve longstanding trade grievances with China. Toward that , the White House is likely to be more proactive in advancing efforts to secure reforms at the WTO that will enable that body to more effectively address not only China but also a raft of other 21st century trade issues. The administration could also seek to increase engagement with others on the trade impacts of issues such as digital services taxes, worker rights, and climate chang


Title
Source
Post Date
Visit
OTI License Revocations.. American Shipper 09/10/2021
62
Evergreen¡¯s Samsung-built EVER ACE (23,992 teu) becom.. American Shipper 09/10/2021
58
COVID threatens Chinese exports as US struggles to re.. American Shipper 09/10/2021
51
Marine Insurer Warns .. American Shipper 09/10/2021
55
Vietnam port congestion growing as COVID-19 outbreak .. American Shipper 08/03/2021
137
Hot Manhattan Markets: Influx Of Demand Spurs Deal Ac.. American Shipper 08/03/2021
77
No Section 301 Tariffs on Vietnam For Now After Curre.. American Shipper 07/26/2021
127
Port of Vancouver congestion mounts despite resumed r.. American Shipper 07/26/2021
128
Biden Administration orders crackdown on ¡®unjust fees.. American Shipper 07/26/2021
130
A fresh stimulus check may be on the way to you, than.. American Shipper 07/26/2021
91
Page : 1   2   3   4   5        [Next 5 Page]  Last Page : 53 ( 1 of 53  Total Pages )

 

 

 

Brilliant Group Logistics INC.
159 N. Central Ave. Valley stream, NY 11580
Tel : (516) 599-2406 Fax : (516) 599-0528