The USTR came out with its report on the National Trade Estimate On Foreign Trade Barriers, describing the probable areas in which US goods are being denied market access and the measures to be taken to address the same. In a summary of the report, the USTR said that it is:
· beginning a review of the implementation of our existing trade agreements, including the enforcement of the labor and environment provisions;
· initiating a process to prioritize trade barriers enumerated in the National Trade Estimate Report and to address the most significant;
· identifying new cases where market access for U.S. goods and services is in jeopardy because of disregard for the rule of law, costing our workers and businesses export opportunities and jobs;
· planning to prosecute those cases through multilateral and bilateral dispute resolution, so that American workers can trust that their trading system yields results; and
· working with Congress to improve trade enforcement.
For a copy of the report, click here. For alleged Philippine trade barriers, see pages 397-404 of the report.
31.3.09
29.3.09
IEL updates
(the updates are taken from various sources)
> The US blocked Mexico's request for establishment of panel in the case dubbed Tuna-Dolphin II. In a statement by the USTR, the US expressed disappointment that "Mexico has chosen to move forward with a request for panel establishment" and that the US "considers its dolphin-safe labeling regime central to the protection of the dolphin population in the Eastern Tropical Pacific ocean." Finally, the US declared that it is "confident that, if this dispute were to proceed to a panel, the U.S. dolphin safe labeling measures that Mexico has challenged would be found to be consistent with U.S. WTO obligations." For a copy of Mexico's request, click here. As per WTO rules, Mexico can make a second request for panel with the DSB, for which the US would not be allowed to block.
> Ron Kirk, former mayor of Dallas, has been sworn in by US Vice-President Joe Biden as the new USTR. To get an idea of the direction of US trade policy, you may want to read Kirk's comments in response to the written questions of Senators on the Finance Committee (click here). For the comments of VP Biden, click here.
> The U.S. Department of Commerce (DOC) yesterday announced last 24 March 2009 its affirmative final determination in the antidumping duty investigation on imports of circular welded carbon quality steel line pipe from China, with dumping rates of between 73.87% and 101.10% issued. The DOC will thereafter instruct U.S. Customs and Border Protection to collect a cash deposit or bond based on the final rates. The U.S. International Trade Commission (ITC) will issue its final injury determination on 7 May 2009, which would then serve as basis for the DOC's anti-dumping order.
> In a study by Chad Brown, associate professor in the Department of Economics and International Business School at Brandeis University, indicates that anti-dumping cases have increased during this economic downturn. The number of new antidumping measures applied in 2008 increased by 19 per cent compared to 2007. Developing countries dominated use of antidumping (73% of all new investigations) in 2008, and developing country exporters were the most frequent target (78% of all new investigations). For copy of the study, click here.
> The USTR released last 2 March 2009 the Trade Policy Agenda for 2009 and 2008 Annual Report of the President of the United States on the Trade Agreements Program. Both are submitted to the Congress pursuant to Section 163 of the Trade Act of 1974, as amended (19 U.S.C. 2213). Chapter II and Annex II of this document meet the requirements on the World Trade Organization in accordance with Sections 122 and 124 of the Uruguay Round Agreements Act. In addition, the report also includes an annex listing trade agreements entered into by the United States since 1984. For copy of the Agenda and Report, click here.
> The US blocked Mexico's request for establishment of panel in the case dubbed Tuna-Dolphin II. In a statement by the USTR, the US expressed disappointment that "Mexico has chosen to move forward with a request for panel establishment" and that the US "considers its dolphin-safe labeling regime central to the protection of the dolphin population in the Eastern Tropical Pacific ocean." Finally, the US declared that it is "confident that, if this dispute were to proceed to a panel, the U.S. dolphin safe labeling measures that Mexico has challenged would be found to be consistent with U.S. WTO obligations." For a copy of Mexico's request, click here. As per WTO rules, Mexico can make a second request for panel with the DSB, for which the US would not be allowed to block.
> Ron Kirk, former mayor of Dallas, has been sworn in by US Vice-President Joe Biden as the new USTR. To get an idea of the direction of US trade policy, you may want to read Kirk's comments in response to the written questions of Senators on the Finance Committee (click here). For the comments of VP Biden, click here.
> The U.S. Department of Commerce (DOC) yesterday announced last 24 March 2009 its affirmative final determination in the antidumping duty investigation on imports of circular welded carbon quality steel line pipe from China, with dumping rates of between 73.87% and 101.10% issued. The DOC will thereafter instruct U.S. Customs and Border Protection to collect a cash deposit or bond based on the final rates. The U.S. International Trade Commission (ITC) will issue its final injury determination on 7 May 2009, which would then serve as basis for the DOC's anti-dumping order.
> In a study by Chad Brown, associate professor in the Department of Economics and International Business School at Brandeis University, indicates that anti-dumping cases have increased during this economic downturn. The number of new antidumping measures applied in 2008 increased by 19 per cent compared to 2007. Developing countries dominated use of antidumping (73% of all new investigations) in 2008, and developing country exporters were the most frequent target (78% of all new investigations). For copy of the study, click here.
> The USTR released last 2 March 2009 the Trade Policy Agenda for 2009 and 2008 Annual Report of the President of the United States on the Trade Agreements Program. Both are submitted to the Congress pursuant to Section 163 of the Trade Act of 1974, as amended (19 U.S.C. 2213). Chapter II and Annex II of this document meet the requirements on the World Trade Organization in accordance with Sections 122 and 124 of the Uruguay Round Agreements Act. In addition, the report also includes an annex listing trade agreements entered into by the United States since 1984. For copy of the Agenda and Report, click here.
26.3.09
The Church and trade liberalization
. . . is the topic of my latest Trade Tripper column in this Friday-Saturday issue of BusinessWorld. Excerpts:
"Recently rereading the Compendium of the Social Doctrine of the Church and again appreciating how much the doctrines of the Catholic Church on trade liberalization could be read alongside the objectives of the WTO.
x x x
Interestingly, Paragraph No. 352 of the Compendium declares that: "The fundamental task of the State in economic matters is that of determining an appropriate juridical framework for regulating economic affairs, in order to safeguard ’the prerequisites of a free economy, which presumes a certain equality between the parties, such that one party would not be so powerful as to practically reduce the other to subservience.’"
To this, Pope Benedict XVI’s Encyclical Letter Deus Caritas Est expounds: "In today’s complex situation, not least because of the growth of a globalized economy, the Church’s social doctrine has become a set of fundamental guidelines offering approaches that are valid even beyond the confines of the Church: in the face of ongoing development these guidelines need to be addressed in the context of dialogue with all those seriously concerned for humanity and for the world in which we live. x x x The just ordering of society and the State is a central responsibility of politics. As Augustine once said, a State which is not governed according to justice would be just a bunch of thieves." (underscoring supplied)
As I wrote in last week’s column, more than individual freedoms, today’s complicated world actually demands of us to consider each of our responsibilities instead. To this, I add, that to have a consistency of our thoughts and actions with our values is necessary as well."
"Recently rereading the Compendium of the Social Doctrine of the Church and again appreciating how much the doctrines of the Catholic Church on trade liberalization could be read alongside the objectives of the WTO.
x x x
Interestingly, Paragraph No. 352 of the Compendium declares that: "The fundamental task of the State in economic matters is that of determining an appropriate juridical framework for regulating economic affairs, in order to safeguard ’the prerequisites of a free economy, which presumes a certain equality between the parties, such that one party would not be so powerful as to practically reduce the other to subservience.’"
To this, Pope Benedict XVI’s Encyclical Letter Deus Caritas Est expounds: "In today’s complex situation, not least because of the growth of a globalized economy, the Church’s social doctrine has become a set of fundamental guidelines offering approaches that are valid even beyond the confines of the Church: in the face of ongoing development these guidelines need to be addressed in the context of dialogue with all those seriously concerned for humanity and for the world in which we live. x x x The just ordering of society and the State is a central responsibility of politics. As Augustine once said, a State which is not governed according to justice would be just a bunch of thieves." (underscoring supplied)
As I wrote in last week’s column, more than individual freedoms, today’s complicated world actually demands of us to consider each of our responsibilities instead. To this, I add, that to have a consistency of our thoughts and actions with our values is necessary as well."
Legrain article
Philippe Legrain has an article in McKinsey: "Don't take globalization for granted." For the article, click here.
Obama's designated thinker
"A policy wonk who relishes the kind of esoteric arguments that everyday people might find boring and incomprehensible ... With a rumpled appearance and a tendency to ramble to the far corners of any debate." Nope, the article wasn't about me. Rather, it was about President Obama's "designated thinker" Larry Summers. To read the article, click here.
25.3.09
Imports fall
From BusinessWorld:
"Merchandise imports slid further in January, highlighted by a continued fall in shipments of key electronics components, in a sign that the global downturn was continuing to take its toll on trade.
January’s 34.5% decline to 3.27 billion, which was slightly worse than December’s 34%, was the lowest monthly total for imports since February 2005 and the fourth straight month that inbound shipments had fallen on an annual basis.
The Philippines had a trade deficit of $759 million for the month after a revised deficit of $7.62 billion in 2008."
"Merchandise imports slid further in January, highlighted by a continued fall in shipments of key electronics components, in a sign that the global downturn was continuing to take its toll on trade.
January’s 34.5% decline to 3.27 billion, which was slightly worse than December’s 34%, was the lowest monthly total for imports since February 2005 and the fourth straight month that inbound shipments had fallen on an annual basis.
The Philippines had a trade deficit of $759 million for the month after a revised deficit of $7.62 billion in 2008."
22.3.09
Sugar high
That's how Robert Zoellick, former USTR and now World Bank head, describes stimulus packages, adding that "they would likely lead to another crash." (click here.)
Speaking at a forum in Belgium last Saturday, he also says that the global economy will shrink up to 2 percent. Citing an IMF report, "global economic recovery won't come until 2010, according to the IMF report. The world's economic powers will struggle to break even in the new year, while developing nations' economies will surge by up to 4.5 percent."
Here is a Time article on the AIG bailout.
Speaking at a forum in Belgium last Saturday, he also says that the global economy will shrink up to 2 percent. Citing an IMF report, "global economic recovery won't come until 2010, according to the IMF report. The world's economic powers will struggle to break even in the new year, while developing nations' economies will surge by up to 4.5 percent."
Here is a Time article on the AIG bailout.
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