May 21, 2021 On May 18, Senate Finance Chair Ron Wyden released legislation that would bring back multiple tariff-reduction programs, designed to make some imports less expensive for U.S. firms and to promote trade with developing countries.
April 14, 2021 On Tuesday, April 13, the U.S. Department of Defense (DoD) published a Notice of Request for Comments on the “America’s Supply Chains” Executive Order. President Biden issued the Executive Order on February 24, 2021, directing several federal agency actions to secure and strengthen America’s supply chains. The DoD is looking for input regarding identifying risks [Read More]
April 12, 2021 On April 7, the Commerce Department released a report showing that the deficit widened by 4.8 percent, reaching $71.8 billion.
July 1, 2020 Today, the U.S.-Mexico-Canada Trade Agreement (USMCA) goes into full effect with many promising provisions aimed directly at bolstering American small- and mid-sized businesses (SMEs). The National Small Business Association was an outspoken proponent of the USMCA which was a key priority for NSBA’s members. Below is a statement from NSBA President and CEO Todd McCracken: [Read More]
January 15, 2020 On Wednesday, Jan. 15, President Donald Trump and Chinese Vice Premier Liu He signed a “phase one” deal on trade, focusing on expanding U.S. agricultural exports and reforming China’s forced technology transfer. While the agricultural agreements are significant, many analysts say changing China’s practice of forcing non-Chinese companies to share critical technologies with Chinese companies [Read More]
January 8, 2020 On Jan. 7, the Senate Finance Committee approved the approved the U.S.-Mexico-Canada Agreement (USMCA) implementing legislation, H.R. 5430, in a 25-3 vote, clearing the way for a Senate floor vote. Mexico has already ratified the revised USMCA. Canada is expected to take up the vote in its House of Commons after it reconvenes in late January. [Read More]
December 18, 2019 On Tuesday, Dec. 17, the U.S. House of Representatives approved a series of bills related to spending and other critical, expiring provisions including extending the charter for the Export-Import Bank of the U.S. (Ex-Im Bank). In a 280-138 vote, the chamber sent the fiscal 2020 measure on to the Senate, where lawmakers are expected to [Read More]
December 12, 2019 House Democrats—led by Speaker Nancy Pelosi (D-Calif.)—have reached a deal with the Trump Administration on the new North American trade agreement, clearing the way for Congress to vote on the pact as soon as next week—December 19. The Office of the U.S. Trade Representative (USTR) released the text of changes it made to the agreement, in [Read More]
November 20, 2019 On Nov. 15, the House passed—along party lines—legislation to reauthorize and revamp the Export-Import Bank’s (Ex-Im’s) operations for ten years. The bill, H.R. 4863, the United States Export Finance Agency Act of 2019, passed by a vote of 235 to 184, with only 13 Republicans supporting the measure. The bill now heads to the Republican-controlled Senate, where [Read More]
October 30, 2019 On Oct. 25, a new bill was introduced to reauthorize the U.S. Export-Import Bank (Ex-Im) for 10 years. The legislation—H.R. 4863, the United States Export Finance Agency Act of 2019—was posted on the House Committee on Financial Services website ahead of a committee markup on Tuesday. The bank’s charter was set to expire on Sept. 30, but [Read More]