This past Wednesday, the Trump administration warned the impeachment inquiry would likely result in no congressional action on the United States-Mexico-Canada trade deal (USMCA).
While the US Trade Representative Robert Lighthizer believed the deal would pass the House, Trump was less confident and doesn’t believe the Houston majority leader will set a vote to pass the trade agreement.
Last year, Canada, the US and Mexico reached an agreement to replace the North American Free Trade Agreement with the final step being ratification among the three members. Canada and Mexico have already urged the US to ratify the agreement sooner rather than later.
If you have any questions how the new USMCA may impact your business, contact experienced trade attorney David Hsu at 832-896-6288 or by email at firstname.lastname@example.org, email@example.com.
Last week, President Trump and his counterpart Prime Minister Abe of Japan reached a trade deal to cut tariffs and increase trade between the two nations.
Part of the deal includes Japan agreeing to reduce or cancel tariffs on American agricultural exports such as beef, corn, pork and fruit – with the US agreeing to reduce tariffs on bicycles, flowers, tea and other industrial products.
At the same time, the agreement prohibits future tariffs on streaming videos, music and video games.
If you have any questions about how the new trade deal with Japan will impact your business, contact experienced trade attorney David Hsu at 832-896-6288 or by email at firstname.lastname@example.org, email@example.com.
Trade representatives from the US and Japan are working out details for a trade deal between the two nations – with both sides hoping to sign a trade deal this week during the United Nations General Assembly in New York.
Previously, Trump has threatened the imposition of tariffs of upwards of 25% on Japanese cars, and the Japanese want a clause added to any trade deal that would cancel any trade benefits if and when the US imposes tariffs on automobiles.
This is the only issue currently delaying the signing of a long awaited trade deal between the US and Japan.
Other parts of the trade deal are expected to include more access for US farmers to the Japanese market, modernization of digital trade rules, internet development, prohibition of cross-border taxation of e-commerce and data localization requirements.