U.S. Chamber of Commerce urges President-Elect Donald Trump to remain cautious on erecting trade barriers

 
 
Issue 80 | Jan. 19, 2017
U.S. Chamber of Commerce urges President-Elect Donald Trump to remain cautious on erecting trade barriers
 
President and CEO of the U.S. Chamber of Commerce Thomas Donohue urged the incoming Trump administration to avoid putting up trade barriers in a meeting last week. Citing modest economic forecasts of around 2 percent growth and an increase of burden on exporters with additional trade barriers, Donohue believes the administration should be cautious with its approach to trade.  He also expressed his support for updating the North American Free Trade Agreement and his hope that the economic and geopolitical objectives of the Trans-Pacific Partnership can still be achieved. Read more.
 
Secretary of State pick Rex Tillerson breaks from Trump on TPP 
 
Breaking from the administration, Donald Trump's nominee for U.S. Secretary of State Rex Tillerson showed his openness to renegotiate the Trans-Pacific Partnership in Senate hearings last week.  Throughout the campaign, Trump vowed to tear up TPP on his first day in office and renegotiate bilateral trade agreements in the Asian-Pacific region. While Tillerson does not oppose TPP, he noted his shared view with Trump on whether "the agreement that was negotiated serves all of America's interests best." Read more.
 
Union Pacific CEO "optimistic" about Trump and trade
 
Despite a potential overhaul to NAFTA and other trade agreements, Union Pacific president and CEO Lance Fritz is optimistic for trade in the United States. Trump has threatened border taxes and other alterations to NAFTA that could have major negative implications on trade, however Fritz remains optimistic due to the difficulty of "unwinding" progress on trade and Trump's plans regarding corporate tax cuts and deregulation.  The largest railroad company in the U.S., Union Pacific has up to 12 percent of its traffic traveling through Mexico that could directly be affected by changes in trade policy. Read more.
 
U.S. expected to launch WTO complaint over Chinese aluminum subsidies
 
President Obama's administration is expected to file a complaint against Chinese aluminum subsidies at the World Trade Organization's next meeting. The 16th WTO complaint filed by the U.S. against China in the last eight years, the complaint will highlight China's practice of "artificially cheap loans" and input subsidies for aluminum producers.  Due to rapidly increasing production in recent years, China now produces half of the world's aluminum and is responsible for thousands of jobs lost according to Ohio Sen. Sherrod Brown. "It's past time we get tough on these violations before more American workers suffer," Brown noted. Read more.
 
India likely to remain under "priority watch list" in U.S. intellectual property rights report
 
Due to ineffective intellectual property rights, India will remain on the U.S. Trade Representative watch list.  India, which has been on the watch list for decades, rolled out new intellectual property rights last May.  The policies, however, are viewed more as placeholders than a complete overhaul of property rights policy.  Despite President-elect Trump's perceived friendliness toward India, their watch list status is expected to remain unchanged. Read more
 
U.S. dairy groups urge Trump to set his sights on Canadian dairy policies
 
As President-elect Trump prepares to take office, U.S. dairy groups are asking that he focuses on Canada's proposed protectionist dairy practices.  The Canadian ingredients strategy, as well as the existing Ontario milk pricing policy, would unfairly limit U.S. dairy exports, violating NAFTA and WTO rules according to several U.S. dairy groups.  Chantal Gagnon, a spokeswoman for Canada's Foreign Affairs Minister Chrystia Freeland, said the Canadian government is looking forward to working with the new Trump administration on the issues of trade and investment. Read more.
 
New Year, New President, New Trade Agenda?
Feb. 15, 2017
 
Join the Global Initiatives Council for the first session of the new year as we examine what we should expect from new president and Congress regarding trade policy and the world economy. RSVP Here.

Compiled by Global Initiatives intern Krishna Babla.

For more information, contact Jasmin Sakai-Gonzalez, 213.580.7569.
Los Angeles Area Chamber of Commerce, 350, Los Angeles, CA 90017
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