November 2008 News

USITC Report on Possible Modifications to U.S.-Chile FTA Rules of Origin

According to a report released by the U.S. International Trade Commission (USITC), Probable Economic Effect of Certain Modifications to the United States-Chile Free Trade Agreement Rules of Origin, changes to the rules of origin for 24 product groups under the U.S.-Chile Free Trade Agreement (UCFTA) would have little or no economic effect on U.S. production and trade. As requested by USTR, the USITC provided advice on the probable economic effect of the proposed UCFTA rules of origin modifications on U.S. trade and on domestic producers of the affected articles. The investigation covers a wide variety of articles; details on the articles covered by the investigation can be found at http://www.usitc.gov/ind_econ_ana/research_ana/chilefta.htm.

View USITC press release

Secretary Gutierrez Speaks to American Entrepreneurs About Administration’s Trade Accomplishments

Commerce Secretary Carlos M. Gutierrez spoke about the importance of trade--and its role in ensuring our nation’s future prosperity--at a November 18 Small Business Administration (SBA) trade symposium. “Exports were $1 trillion in 2001. At present rates, America’s exports will be approaching $2 trillion this year… and exports account for essentially all the growth in our economy so far this year,” Gutierrez said. An important step that will give our economy the stimulus it urgently needs would be passing the three pending free trade agreements before Congress, especially the Colombia FTA, the Secretary stated.

View transcript of Secretary’s remarks

View Commerce fact sheet: “Expanding International Market Opportunities for Americans”

Creating Environment for Innovation Has Been Key to Administration’s Competitiveness Agenda

In his remarks to the Council on Competitiveness on November 12, Secretary of Commerce Carlos M. Gutierrez said, “The way that the President thinks about it is that the job of the public sector is to create an environment so that innovators can do what they do best.” Gutierrez highlighted advances over the past eight years in basic research funding for new technologies, universal broadband access, the digital television transition which frees up spectrum for new products and greater communications interoperability for first responders, and opening international markets for U.S. goods and services. Noting that exports make up 12.5 percent of the U.S. economy, higher than ever in history, the Secretary stated, “This is a time to push on trade; it is a time to have more FTAs… We have 14 and we are standing still. So the rest of the world is gaining access to countries and we are not.”

View transcript of Secretary’s remarks

China to End Restrictions on Suppliers of Financial Information Services Challenged by United States in WTO Dispute
On November 13, U.S. Trade Representative Susan C. Schwab announced that China has agreed to eliminate discriminatory restrictions on how U.S. and other foreign suppliers of financial information services do business in China, which the United States had challenged in a WTO dispute brought earlier this year.   “We had attempted to resolve this issue with China through dialogue, but when that did not succeed, we took swift action at the WTO,” Schwab explained.  “We are pleased that the WTO dispute settlement mechanism has worked as intended, enabling the parties to reach a satisfactory resolution.”  The United States and China signed a memorandum of understanding (MOU) that is designed to resolve a WTO case initiated by the United States and the European Communities (EC) in March of this year.  Canada later initiated its own case in June.  The EC and Canada also signed MOUs with China. China’s commitments under the MOU address all the issues under the General Agreement on Trade in Services (GATS) and China’s WTO Accession Protocol that the United States had raised at the WTO.   View USTR press release

“Commerce Helps Freedom and Freedom Helps Commerce,” Gutierrez Says of Administration’s Accomplishments in Spreading Freedom and Democracy

Secretary of Commerce Carlos M. Gutierrez spoke at the Woodrow Wilson International Center for Scholars about the Bush Administration’s achievements in spreading freedom and democracy through commerce on November 6. From Iraq to Afghanistan, to Georgia and throughout Latin America, where entrepreneurs, free enterprise and innovators flourish, so does creativity, prosperity and increasingly freedom. “Free trade agreements work. They work for both sides…[and] probably the single biggest example that I can think of for commerce to make a difference is for Congress to approve the free trade agreement with Colombia,” Secretary Gutierrez said.

View transcript of Secretary’s speech

View video of Secretary’s speech

EU and US Discuss Multilateral, Bilateral Trade Ties Ahead of Washington Summit

With trade flows across the Atlantic worth around $2.15 billion (€1.7 billion) every day, U.S. Trade Representative Susan Schwab and EU Trade Commissioner Catherine Ashton met in Brussels on November 11 to renew their commitment to the early conclusion of the world trade talks and discuss a number of bilateral trade issues, including beef hormones, poultry, and REACH. Following the meeting, USTR Schwab said, "At this critical time it is all the more important that we not only avoid retrenchment in market opening, but move ahead with an ambitious and balanced Doha Round that creates new trade flows and generates economic opportunities worldwide." Commissioner Ashton said, "With leadership and determination, a Doha deal is within our grasp as the details of a final agreement could be agreed within weeks.”

View USTR press release

USITC Report on Possible Modification of U.S.-Australia FTA Rules of Origin

The U.S. International Trade Commission (USITC) has released a public version of its confidential report on the probable effect of proposed modifications of the U.S.-Australia Free Trade Agreement (USAFTA) rules of origin for certain yarns. The report, Viscose Rayon Staple Fiber: Probable Effect of Modification of U.S.-Australia Free Trade Agreement Rules of Origin, was requested by U.S. Trade Representative Susan C. Schwab. In her letter, Schwab noted that U.S. negotiators have reached agreement in principle with their Australian counterparts to modify the USAFTA rules of origin for certain yarns because it has been determined that U.S. and Australian producers are not able to produce viscose rayon staple fiber in commercial quantities in a timely manner. The yarns affected could include blends of viscose rayon staple fibers with synthetic staple fibers, such as polyester, and with other artificial staple fibers, such as acetate.

View USITC press release