Each month DTB Associates curates select world trade news and provides important insights to their clients. If you are interested in learning more, send us an email at firstname.lastname@example.org.
This Month's Headlines
The United States and China ratcheted down their trade war a notch in September, with the U.S. delaying retaliation on $250 billion worth of Chinese products, and China in response temporarily waiving tariffs on U.S. soybeans and pork.
High level talks are planned between the United States and China in October, only days before the next round of U.S. tariff increases are scheduled to take place.
Discussion continued in September between the Trump Administration and House Democrats on the U.S.- Mexico-Canada Agreement (USMCA). Although some progress was made, none of the Democrats’ key issues, related to labor, enforcement and the environment, were fully resolved. House Speaker Pelosi said during the month that House impeachment hearings would not hinder progress on USMCA.
The United States and Japan announced an “early harvest” trade agreement on September 16 that will lower Japanese tariffs on U.S. agricultural products such as pork and beef to levels Japan applies under the CPTPP agreement. While Congressional approval of the deal is not required, it will reportedly need to be approved by Japan’s parliamentary body, the Diet.
The WTO gave its approval in September for billions of dollars in U.S. retaliation in response to EU subsidies for Airbus. The EU Commission said that if the U.S. imposes tariffs on EU products, the EU will respond in kind.