Congressional Hearings This Week on Biden Trade Agenda
U.S. Trade Ambassador Katherine Tai will testify this week before the Senate Finance Committee and the House Ways and Means Committee to answer lawmakers questions about the Biden Administration’s trade policy agenda. The Office of the U.S. Trade Representative (USTR) released the 2023 Trade Policy Agenda and 2022 Annual Report earlier this month. The Senate hearing is scheduled for Thursday, March 23, 2023 at 10:00 a.m. EDT. For the livestream feed, please click here. The House hearing is scheduled for Friday, March 24, 2023 at 9:00 a.m. EDT. For the livestream feed, please click here.
CIT Issues Ruling in HMTX Case
The Court of Intenational Trade (CIT) issued a long-awaitig ruling last week in the HMTX case involving the legality of Section 301 Tariff lists 3 and 4A. The court ruled that the Office of the U.S. Trade Representative (USTR) met the standards of the Administrative Procedure Act when the Trump Administration imposed Section 301 tariffs on $50 billion worth of imports from China in 2018. Importers are expected to appeal the decision at the U.S. Court of Appeals for the Federal Circuit. Read the CIT decision.
FMC Requesting Funding Increase to Fully Implement OSRA
The Federal Maritime Commission (FMC) is requesting a budget increase of 14.27% for FY 2024 in order to fully implement the Ocean Shipping Reform Act of 2022. The request includes money to hire an additional 31 new employees. “Achieving the Commission’s mission and OSRA priorities requires personnel. The budgets provided in FY 2022 and FY 2023 resulted in an increase from 149 to 180 full-time positions. In FY 2024, this requires an increase of $6,158,000 with a total cost of $33,415,000 for salaries and benefits.” Read the FMC’s FY 2024 Budget Justification report.