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May 2008 News 5/30/08 Assistant Secretary Bohigian to Lead Clean Energy Trade Mission to China and India On May 29, the Commerce Department’s International Trade Administration announced that it will sponsor a Clean Energy and Environment Trade Mission to China and India from September 1-12, 2008. This mission, led by Assistant Secretary for Market Access and Compliance David Bohigian, aims to match participating U.S. companies with opportunities in these fast-growing markets, where American clean energy and environmental goods and services can help address energy security and climate change, improving the environment. Targeted sectors include renewable energy, energy efficiency, clean coal, distributed generation, air pollution abatement, water, waste, and monitoring equipment. 5/29/08 Commerce Secretary Gutierrez Hosts 2008 National Summit on American Competitiveness in Chicago On May 22, Secretary of Commerce Carlos M. Gutierrez hosted the 2008 National Summit on American Competitiveness, the second meeting of premier business, government, and academia leaders to address the pressing issues facing American businesses in the global economy. Chicago Mayor Richard M. Daley joined with former Helene Curtis CEO Ronald J. Gidwitz to co-chair the Summit, which was attended by over 500 people from across the nation. Discussions focused on how to bolster the business climate, link entrepreneurship with economic prosperity, and utilize free trade agreements to strengthen America’s leadership in the worldwide marketplace. The Summit concluded with a town hall meeting where guests had the opportunity to directly address questions to Secretary Gutierrez and Mayor Daley as well as a number of the panelists, who included YouTube Co-Founder Steve Chen, Boeing Company CEO Jim McNerney, and Caterpillar Inc. CEO Jim Owens. 5/29/08 President Bush Discusses World Trade Week View White House fact sheet: Expanding Economic Opportunities Through Free and Fair Trade 5/20/08 United States Wins WTO Dispute Against EU’s Discriminatory Bananas Preference Program On May 19, U.S. Trade Representative Susan C. Schwab commented on the WTO Panel report finding in favor of the United States’ challenge against the EU’s bananas import regime. She stated, “I am very pleased with the WTO decision. We regret that the EU has failed to comply with previous panel findings on bananas and look forward to finally seeing this issue resolved." In its press release, USTR noted that this is the eleventh time the EU’s regime has been found inconsistent with its GATT or WTO obligations. The bananas dispute is the longest running dispute in WTO history, stretching back to the pre-WTO GATT days. The regime that the EU introduced in 2006 is the subject of the WTO panel report released May 19. The United States claimed that the actual regime introduced by the EU in 2006 was not tariff-only and was not consistent with the EU’s GATT 1994 obligations. The EU has the option of appealing the report to the WTO Appellate Body. 5/19/08 Commerce Secretary Gutierrez Meets with Korean Counterparts to Discuss FTA During his visit to Korea, Commerce Secretary Carlos M. Gutierrez delivered keynote remarks to Korean business leaders in Seoul and conducted bilateral meetings with Korean leaders to discuss the pending free trade agreement between the United States and South Korea. The Secretary called on the organizations which have supported the Korea-U.S. FTA “… (to) work together to get the KORUS FTA across the goal line.” Secretary Gutierrez noted that Korea is already the United States’ seventh-largest export market, and studies estimate the U.S. and Korea can expect an increase approaching $20 billion in two-way goods trade as a result of the FTA. 5/19/08 2008 AGOA Report Shows Continued Growth, Diversification in U.S. – Africa Trade On May 16, USTR submitted a comprehensive report to Congress on the results of U.S. trade and investment policy with respect to sub-Saharan Africa. The 2008 Comprehensive Report on U.S. Trade and Investment Policy Toward Sub-Saharan Africa and Implementation of the African Growth and Opportunity Act (AGOA) notes that, since its inception in 2000, AGOA has helped increase U.S. two-way trade with sub-Saharan Africa. In 2007, U.S. total exports to sub-Saharan Africa totaled $14.4 billion, more than double the amount in 2001. U.S. total imports from sub-Saharan Africa more than tripled during this period to $67.4 billion. The United States obligated $505 million to trade capacity building activities in sub-Saharan Africa in FY2007, up 26 percent from FY2006. At year-end 2007, U.S. direct investment in Africa rose 52 percent from 2001, to $13.8 billion. 5/19/08 Notice Regarding Initiation of 2008 Annual GSP Product and Country Eligibility Practices Review In a Federal Register notice, USTR announced that it will receive petitions in 2008 to modify the list of products that are eligible for duty-free treatment under the GSP program, and to modify the GSP status of certain GSP beneficiary developing countries because of country practices. This notice further determines that the deadline for submission of product petitions, other than those requesting competitive need limitation (CNL) waivers, and country practice petitions for the 2008 Annual GSP Product and Country Eligibility Practices Review is 5:00 p.m., Wednesday, June 18, 2008. The deadline for submission of product petitions requesting CNL waivers is 5:00 p.m., November 13, 2008. The list of product petitions and country practice petitions accepted for review will be announced in the Federal Register at later dates. For further information, please consult the Federal Register notice 5/16/08
On May 16, 2008, the WTO welcomed Ukraine as its newest member. WTO Director General Pascal Lamy stated, “I am very pleased to welcome Ukraine as a new member. It is a significant step for the WTO as this new membership will strengthen the multilateral trading system.” The terms of membership, which include the Working Party Report for Ukraine's Accession, the Protocol of Accession, and the Schedules of Ukraine's commitments on Market Access for Goods and Services, were adopted by the WTO at the General Council in February 2008. Ukraine ratified its accession package on April 16, 2008, which was the final step in the accession process before it could officially join the WTO. Ukraine, Europe’s second largest country by area, is a land of agriculture and heavy industry with a population of 46.6 million people. Its main trading partners are the EC, Russia, Turkey, Belarus and the United States. Ukraine started its accession negotiations in 1993. 5/15/08
As part of Invest in America week, Assistant Secretary of Commerce for Market Access and Compliance David Bohigian discussed U.S. open investment policies with journalists at the Foreign Press Center on May 12. Through Invest in America, the Department of Commerce promotes the United States as the best place in the world to do business and reinforces the unequivocal and long-standing commitment by the United States to open investment policies. 5/14/08
On May 12, Secretary of Commerce Carlos M. Gutierrez and California Governor Arnold Schwarzenegger toured a Hitachi plant in California to highlight the importance of foreign direct investment in creating U.S. jobs. The two also authored an opinion editorial in the Wall Street Journal that highlighted the need for America’s openness. They wrote, “As immigrants, we're proud of America and the strength it derives from being uniquely open to trade, to investment, and to ideas and people.” They noted that foreign direct investment in 2006 was nearly $200 billion (of which a third is in the manufacturing sector), and that foreign-owned companies operating in the U.S. employ more than five million Americans. 5/13/08 Secretary Gutierrez Travels to China and Korea for High-Level Meetings to Discuss Bilateral Trade Commerce Secretary Carlos M. Gutierrez will travel to Beijing, China and Seoul, South Korea, May 14-16, to discuss bilateral trade and promote U.S. exports. “American businesses, workers, farmers and ranchers are exporting around the world at record rates,” Gutierrez said. “While U.S. exports of goods to China, now our third-largest export partner, grew by more than 18 percent in 2007, significant trade barriers to the Chinese market remain.” Gutierrez’s discussions with senior Chinese officials will address intellectual property rights, burdensome regulatory regimes and other key bilateral issues. During his May 15-16 visit to Seoul, Secretary Gutierrez will highlight the economic and strategic benefits for the United States and Korea of the U.S.-Korea Free Trade Agreement (KORUS FTA). He will reaffirm the strong commitment of President Bush to seek Congressional approval of the agreement this year. |
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