March 2008 News

Secretary Gutierrez Highlights Commerce Department’s Role in American Competitiveness

In his testimony before the House Energy and Commerce Committee on March 13, Secretary Carlos M. Gutierrez highlighted the broad range of important issues in which the Department of Commerce is engaged. “Over the next year, the Department will continue to focus on American competitiveness, measuring American life, growing American exports and protecting America’s environment.” The Secretary urged passage of pending free trade agreements (FTAs) in order to continue the United States’ record export growth and “…maintain its posture as a leader in the global economy, committed to breaking down economic barriers and engaging with countries around the world.”

President Bush Urges Passage of U.S.-Colombia Free Trade Agreement

During his remarks to the U.S. Hispanic Chamber of Commerce on March 12, President Bush urged Congress to pass trade agreements, particularly the U.S. Colombia Trade Promotion Agreement (TPA), that advance the economic and national security interests of the United States and show the Colombian people that democracy and free enterprise lead to a better life. The President stated that, as Congress moves forward the Colombian TPA and other free trade agreements, the United States “…will continue to press for an ambitious, successful Doha Round at the WTO.” Mr. Bush noted, however, that the United States “…[is] not going to make unilateral concessions,” as it desires “meaningful contributions” by all WTO members.

View text of President’s remarks

View fact sheet on Colombia Trade Promotion Agreement

Commerce Department’s ITA Releases Video on Benefits of Colombia FTA

In a video released by the Commerce Department’s International Trade Administration on March 11, Under Secretary for International Trade Christopher Padilla highlights the benefits of the pending U.S.-Colombia Free Trade Agreement. In the video, Padilla uses a grocery bag full of U.S. and Colombian products to demonstrate the economic benefits of the trade agreement, and the need to level the playing field for American farmers, businesses and workers.

Video release

View transcript of video

Bush Administration Delivers 2008 Trade Report To Congress
On March 3, the Bush Administration delivered to Congress the 2008 Trade Policy Agenda and the 2007 Annual Report of the President of the United States on the Trade Agreements Program. The report highlights the Administration’s 2007 accomplishments of opening new markets, developing and implementing new policies, and enforcing U.S. trade agreements to ensure trade is free and fair. U.S. Trade Representative Susan C. Schwab commented, "President Bush's accomplishments of opening markets at every opportunity have advanced the pro-growth benefits of free and fair trade... the past seven years have reaped record exports, job creation, growth, and productivity."  Bilaterally, in 2008, the Administration will build on the passage of the Peru Free Trade Agreement (FTA) by working with Congress to advance other pending FTAs with Colombia, Panama and South Korea.  Multilaterally, the United States continues to lead efforts towards concluding an ambitious Doha Development Round.  In addition, the Administration will continue to aggressively combat intellectual property rights (IPR) violations in order to protect both industry and consumers.  View 2008 Trade Policy Agenda

President Bush Extends Andean Trade Preferences

In a statement issued February 29, the White House announced that President Bush signed legislation to extend the Andean Trade Preference Act (ATPA) until December 31, 2008. The brief extension of ATPA approved by the President will provide time to implement the U.S.-Peru Free Trade Agreement (FTA) and for Congress to take up and approve the U.S.-Colombia FTA. These FTAs will provide U.S. businesses, farmers, ranchers, and workers with duty-free access to Peru and Colombia that exporters from those countries already enjoy in the U.S. market under ATPA. At the same time, the USG remains concerned by actions of the governments of Bolivia and Ecuador, including with respect to the treatment of U.S. investors. The USG expects to see significant progress on these areas of concern during the ten-month extension period, and looks forward to engaging Congress and these governments in discussions regarding their continued eligibility under this program.

U.S. Files WTO Case Against China Over Treatment of U.S. Suppliers of Financial Information Services
On March 3, United States Trade Representative Susan C. Schwab announced that the United States has requested WTO dispute settlement consultations with China regarding its treatment of U.S. suppliers of financial information services.  Schwab stated, “China’s restrictive treatment of outside suppliers of financial information services places U.S. and other foreign suppliers at a serious competitive disadvantage. We have raised this matter with China repeatedly, yet the problem has not been resolved.  We hope the filing of our request for formal WTO consultations will lead to a swift resolution of this matter.”  New Chinese regulations, from 2006, require foreign financial information suppliers to supply their services through an entity designated by China’s regulatory authority. According to the USTR press release, “These new restrictions and requirements imposed by China on foreign financial information suppliers are now even more restrictive than those in place at the time of China’s accession to the WTO.” The EU also requested formal WTO consultations with China on this matter on March 3.  View fact sheet on China’s treatment of U.S. financial information service suppliers

USTR Announces Agreement on Extension of Time for Costa Rica to Join CAFTA-DR

On February 27, U.S. Trade Representative Susan C. Schwab released a statement announcing a multi-party agreement that will provide more time for Costa Rica to join the Dominican Republic – Central America – United States Free Trade Agreement (CAFTA-DR). Schwab announced that the United States and its five CAFTA-DR partners (the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua) have agreed to give Costa Rica until October 1, 2008 to complete the legislative and regulatory steps required to join the CAFTA-DR. She stated, “The Administration is committed to ensuring that our free trade agreement partners take the steps necessary to meet their obligations. We will continue to work closely with the Costa Rican government to complete the appropriate implementing measures.”

View USTR press release