The Chamber issued a press statement applauding the move, noting the bill will "preserve American jobs and help U.S. manufacturers and other businesses maintain their competitive edge. Over the past three decades, the MTB has helped manufacturers by providing temporary relief from select tariffs. However, since the expiration of the last MTB in 2012, U.S. businesses have faced hundreds of millions of dollars in higher tariff costs, which are especially significant to small and mid-sized firms and limit the ability of companies to expand production, hire additional workers, or invest in new cost-saving equipment." For further information, please contact Executive Director for International Policy Christopher Wenk (This email address is being protected from spambots. You need JavaScript enabled to view it.).

 

Chamber Outlines Transatlantic Energy Priorities

The Chamber's European Affairs Department on May 4 released a white paper entitled A Transatlantic Approach to Europe's Energy Challenges, which calls for removing barriers impeding U.S. energy exports to Europe, increased transatlantic R&D cooperation, and greater private sector engagement with the EU-U.S. Energy Council to improve competitiveness and facilitate trade. Released in conjunction with last week's annual meeting of the EU-U.S. Energy Council, the Chamber hosted European Commissioner for Energy and Climate Action Miguel Arias Cañete for a discussion on how to improve transatlantic cooperation in energy policy and boost efficiency and exports. For further information, please contact Vice President for European Affairs Marjorie Chorlins (This email address is being protected from spambots. You need JavaScript enabled to view it." ' + path + '\'' + prefix + ':' + addy7397 + '\' target="_blank">'+addy_text7397+'<\/a>'; //--> ) or Director for European Affairs Garrett Workman (This email address is being protected from spambots. You need JavaScript enabled to view it.).

 

New Prime Minister Declares Jamaica Open for Business

On May 5, Prime Minister Andrew Holness of Jamaica and members of his economic team participated in a discussion of the U.S.-Jamaica economic relationship during an event hosted by the Chamber, AACCLA, and AmCham Jamaica. The event marked Holness's first visit to the U.S. since being elected Prime Minister on February 25, and he also participated in the Caribbean Energy Summit. Holness and his newly appointed Ambassador for Economic Growth, Dr. Nigel Clarke, outlined investment opportunities in Jamaica, especially as the country positions itself to be a beachhead in the Caribbean for companies leveraging the expansion of the Panama Canal. A key component of Jamaica's economic strategy is to invest the savings from low oil prices into renewable energy development, including a $400 million investment in LNG facilities, to reduce the economic drag on the country that imports 82% of its energy needs. For further information, please contact Senior Director of Policy for the Americas Kendra Gaither (This email address is being protected from spambots. You need JavaScript enabled to view it.). 

 

Senate Holds Hearing on New Customs Law

On May 11, the Senate Finance Committee held a hearing with U.S. Customs and Border Protection (CBP) Commissioner R. Gil Kerlikowske to examine CBP's efforts to enhance trade facilitation and enforce U.S. trade laws, including through implementation of the recently enacted Trade Facilitation and Trade Enforcement Act of 2015. This customs reauthorization bill represents the first significant modernization of U.S. customs processes since 1993. It also marks the first authorization of CBP, which was created when the Department of Homeland Security was formed 13 years ago. 

At the hearing, Senate Finance Committee Chairman Orrin Hatch (R-UT) stated: "With the law now in place, CBP and other agencies have the tools necessary to ensure that America is able to compete in the world economy while also ensuring that our trading partners play by the rules. With passage of the Customs bill, the Commissioner has many new authorities to implement. While most of us are pleased with these new changes to our customs laws, simply providing new tools and putting new mandates in place will not, in and of itself, improve conditions on the ground. As with the passage of any new law dealing with any important government agency, congressional oversight is going to be key to ensuring that the statute is implemented in a manner that reflects our intent." For further information, please contact Executive Director for Global Supply Chain, Customs and Trade Facilitation Adam Salerno (This email address is being protected from spambots. You need JavaScript enabled to view it.).

 

China Market Economy Status Bill Introduced

On May 10, Senators Al Franken (D-MN), Amy Klobuchar (D-MN) and Tammy Baldwin (D-WI) introduced a bill that would allow Congress to vote on whether China should be issued market economy status. A companion bill was introduced in the House by Rep. Rosa DeLauro (D-CT) last month. A summary of the bill argues that "Congress deserves a voice in any change to China's status as a non-market economy." For further information, please contact Senior Manager for China Ruben Duran (This email address is being protected from spambots. You need JavaScript enabled to view it.). 

 

Chamber Files Amicus Brief on Keystone Pipeline Suit

On May 10, the U.S. Chamber filed a joint amicus brief (joined by the National Association of Manufacturers) in TransCanada Keystone Pipeline LP v. Kerry Et Al. The Chamber urged the U.S. District Court for the Southern District of Texas to hold that the Secretary of State unconstitutionally prohibited the construction of the Keystone XL pipeline, which would have imported oil from Canada for refining in the United States. The Chamber's brief argues that the Department's assertion of authority in the face of Congress's express disagreement undermines the separation of powers and upsets the development of sound trade policy. The brief explains that the constitutional separation of powers between the Executive and Legislative branches, the latter's prerogatives relating to international commerce, and congressional votes showing bipartisan support for the pipeline together bar the Executive's sweeping assertion of power over cross-border trade that it has asserted regarding the Keystone XL Pipeline. For more information please contact Senior Vice President for International Policy John Murphy (This email address is being protected from spambots. You need JavaScript enabled to view it.). 

This Month in Trade: From the Chamber Blogs

U.S.-China Relationship is 'Too Big to Fail' by U.S. Chamber Staff

In what direction is the relationship between the world's two largest economies headed? Business and government leaders gathered at the 7th Annual China Business Conference, held at the U.S. Chamber, to answer this critical question. 

 

The NAFTA the Candidates Haven't Met by John G. Murphy

NAFTA has been a punching bag on the campaign trail this election year, and activist groups continue to issue poorly-supported "studies" that blame it for a host of ills. In fact, though, it's proven to be one of the great economic policy achievements of the 1990s - and its benefits should be better understood.

 

Without Global Trade, Say Adios to Your Cinco de Mayo Margarita by J.D. Harrison

One part lime juice, two parts triple sec, three parts tequila. It's a formula that will be replicated over and over as Americans across the country celebrate Cinco de Mayo. But did you know that it wouldn't be possible without global trade?

 

Global Supply Chains Explained ... in One Graphic by Eric Nelson

Global supply chains are complicated and critical, with many moving pieces. The economic security of all businesses is on the line, and breaking down barriers and global borders unleashes the potential for increased competitiveness.

 

Calendar of Events

May 16-20: World Trade Week
May 27-28: G-7 Summit in Shima, Mie Prefecture, Japan
Early June:  U.S.-China Strategic & Economic Dialogue (S&ED), Beijing, China

June 9: G-20 Trade Minister Summit, Shanghai, China