The Biden administration took office not only in the midst of a pandemic, but a global rethink of economic opportunity and outcomes. It’s one reason that global institutions, such as the WTO and the International Monetary Fund, are suffering from a lack of respect and influence, not only among general populations but opinion leaders and […]
I’ve noticed an increased focus on international issues reflecting moral and political subjects as opposed to economic ones, although these have been with us for a long time. Economists call this “virtue signaling.” The American Institute for Economic Research (AIER) published an article on the subject a few years ago, defining “virtue signaling” as “the […]
I’ve noticed an increased focus on international issues reflecting moral and political subjects as opposed to economic ones, although these have been with us for a long time. Economists call this “virtue signaling.” The American Institute for Economic Research (AIER) published an article on the subject a few years ago, defining “virtue signaling” as “the […]
I asked a good friend of mine after he was appointed to as the deputy head of a cabinet department what a typical day was like for him. “It’s drinking water from a fire hose. Things come at you so fast you can’t get out of the way,” he said. As an observer and occasional […]
I asked a good friend of mine after he was appointed to as the deputy head of a cabinet department what a typical day was like for him. “It’s drinking water from a fire hose. Things come at you so fast you can’t get out of the way,” he said. As an observer and occasional […]
The government is exploring ways to resolve serious trade disputes with the EU. At the same time, it is attempting to preclude having to make refunds of potentially unlawful duties collected since 2018. As I mentioned in last week’s column, President Biden’s first foreign trip since he took office featured four summit meetings: the G7 […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Happy New Year to all—and good riddance to 2020. Jan. 1, 2021, marks the beginning of a new era for the European Union and the United Kingdom. The divorce is final. On the eve of a “no deal” […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Things happened last week that will affect politics (and business) for some time to come. The effects include a Democrat-controlled Senate, the loss of stature of several members of Congress (including a few Senators) and improved prospects for […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: As the nation (and the world) prepares for the inauguration of Joe Biden as the new president, many groups are releasing position papers telling the new administration what it should do about trade-related issues. They run the gamut from […]
I’m looking forward to next month’s Tampa Steel Conference, where we will discuss lots of steel-related policy issues. The conference provides an opportunity to weigh the importance of the steel industry in the American economy and the global economy. We cannot realistically discuss what to do about steel (or any industry) from either a government […]
Can we measure the relative importance of steel-producing versus steel-consuming industries? Last week, I looked at some ways to measure the steel industry’s importance to the economy and national defense today and in the past. Today, I explore another major point of comparison—the economic and strategic importance of steel production and steel-consuming industries economically and […]
There seems to be an erratic but discernible move toward more normal international trade policy. The last four years was anything but normal. Consider the following: • After World War II, the United States found itself in a preeminent position in the world. Nearly half of the production of goods and services in the world […]
There seems to be an erratic but discernible move toward more normal international trade policy. The last four years was anything but normal. Consider the following: • After World War II, the United States found itself in a preeminent position in the world. Nearly half of the production of goods and services in the world […]
Lately there has been a great deal of news on the legal front. Readers of this column have asked a lot of questions. Today I will try to get to at least some of them. Most of the recent court decisions relate to the Section 232 tariffs, so that is a good place to start. To […]
Steel price levels are in uncharted territory these days. The current prices, especially in an economy where interest rates are near zero and inflation remains low, are truly remarkable. How did this happen and when will it end? The short answer is that nobody really knows—but we can analyze the events surrounding the spike and […]
Eyes often glaze over when trade lawyers talk about the intricacies of antidumping law to what lawyers sometimes patronizingly call “laymen.” With a clear understanding of that risk, today’s piece dives into a recent decision by the Court of International Trade dealing with the Commerce Department’s treatment of Section 232 duties on steel in antidumping […]
Last Thursday, policy wonks observed the confirmation hearing of Katherine Tai to be the new United States Trade Representative, replacing Robert Lighthizer. When a new administration takes over, the previous leadership departs at noon on Jan. 20 and “acting” leadership assumes authority, but generally not much power. The new team is nominated, typically on Jan. […]
Last Thursday, policy wonks observed the confirmation hearing of Katherine Tai to be the new United States Trade Representative, replacing Robert Lighthizer. When a new administration takes over, the previous leadership departs at noon on Jan. 20 and “acting” leadership assumes authority, but generally not much power. The new team is nominated, typically on Jan. […]
International trade problems and their resolutions inherently deal with the most parochial and global interests. Opponents of trade liberalization decry “bad deals” that rob the United States of good-paying American jobs. Proponents support trade deals because they make consumers in America and the world over better off (“save money, live better”). In the 1990s, the […]
“Life’s full of tough choices, innit?” Ursula, The Little Mermaid (1989) That memorable cinematic line brings to mind the dilemmas of trade, diplomacy and national security. Economic interests sometime interfere with military and human rights considerations. Add the COVID pandemic into the mix, which has profoundly affected international commerce. First, the changes in international trade […]
“Life’s full of tough choices, innit?” Ursula, The Little Mermaid (1989) That memorable cinematic line brings to mind the dilemmas of trade, diplomacy and national security. Economic interests sometime interfere with military and human rights considerations. Add the COVID pandemic into the mix, which has profoundly affected international commerce. First, the changes in international trade […]
An interesting feature of trade remedy law, by which I refer to as antidumping, countervailing duty, safeguards and Section 232 import “adjustments,” is alleged circumvention of these orders. Readers have asked questions about this subject, which can catch downstream users and importers unawares. Circumvention refers to processing goods that are subject to trade restrictions (duties […]
An interesting feature of trade remedy law, by which I refer to as antidumping, countervailing duty, safeguards and Section 232 import “adjustments,” is alleged circumvention of these orders. Readers have asked questions about this subject, which can catch downstream users and importers unawares. Circumvention refers to processing goods that are subject to trade restrictions (duties […]
When nations go to war, trade between them, at least in modern times, is supposed to stop. There was little complaint after Pearl Harbor, for example, about legislative and executive actions to stop all commerce between the United States on the one hand, and Germany, Italy and Japan on the other. We used to assume […]
A court decision last week highlights the limits Congress placed on presidential authority under Section 232 of the Trade Expansion Act. In PrimeSource Building Products v. United States (decided April 5), the Court of International Trade ruled that presidential Proclamation 9980 (issued Jan. 24, 2020), imposing tariffs on certain steel and aluminum “derivative products” was […]
Every so often there are ideas (but rarely new ones) to “reform” international trade laws. Mostly, the interests that have the ear of Congress (domestic producers of steel, for example, and organized labor) put forward their ideas. Less often, interests that employ more Americans in manufacturing put theirs forward. The two sides of the divide […]
Every so often there are ideas (but rarely new ones) to “reform” international trade laws. Mostly, the interests that have the ear of Congress (domestic producers of steel, for example, and organized labor) put forward their ideas. Less often, interests that employ more Americans in manufacturing put theirs forward. The two sides of the divide […]
In December 2020, Congress passed a massive spending bill, which is the way appropriations have been done in Washington for the last 20 years or so. One new provision with international implications is the requirement for the Director of National Intelligence (DNI) to prepare an annual threat assessment report. This new report, issued recently by […]
As many countries and trading blocs like the EU focus on keeping production “at home” to prevent shortages in emergencies, America is joining in. “Buy America” as a slogan and a policy has been around for many years in many forms. But the allure of Buy America runs into practical problems; and that dilemma has […]
The right to profit from invention has been protected since the inception of the country. Just look at the Constitution. But for just as long it has been controversial. A few days ago the Biden administration reversed the long-held position of the U.S. course and announced its support for waivers of patent rights and other […]