Federal agents raided three Caterpillar buildings near its Illinois headquarters on Thursday, company and law enforcement officials said, in an escalation of an inquiry into the heavy equipment manufacturer’s offshore tax practices. [HIROKO TABUCHI| March 2, 2017 |New York Times] Caterpillar has been dogged by accusations that it slashed its domestic tax bill by shifting corporate profits…
The Keystone XL Pipeline will not be subject to President Donald Trump’s executive order requiring infrastructure projects to be built with American steel, a White House spokeswoman said today. [BEN LEFEBVRE | March 2, 2016 |Politico] Trump signed the order calling for the Commerce Department to develop a plan for U.S. steel to be used…
WASHINGTON — Whatever confusion people might have about President Trump’s agenda, his position on trade and manufacturing is crystal clear. “I believe strongly in free trade, but it also has to be fair trade,” he said in his address to Congress Tuesday night. He called for corporate tax reform and export incentives, and he lashed…
The World Trade Organization “disproportionately” targets U.S. trade enforcement laws and should be reformed, the Alliance for American Manufacturing says in a new report backed by members of Congress and others who have repeatedly expressed concern about the WTO’s appellate body. [Daily News | March 2, 2016 |Inside US Trade] The report says the U.S. has been…
The Trump administration sent shockwaves through the world of trade yesterday when the Financial Times reported that it was looking for ways to bypass the World Trade Organization, the 22-year-old oversight body that adjudicates trade disputes, and which Trump has called a “disaster.” [DANNY VINIK| February 28, 2017 |Politico] Can Donald Trump just pull America out of…
China will submit a sixth revised offer to join the World Trade Organization’s plurilateral Government Procurement Agreement that is expected to cover more state-owned enterprises and more provinces than its previous offers, according to Geneva sources. [Daily News| February 27, 2016 |Inside US Trade] The move by China, which submitted its last revised offer in December…
(click to watch) Dan DiMicco, Nucor chairman emeritus and CPA board member talks on CNBC about making trade deals with partners that are “mutually beneficial.”
Trump’s new special assistant on international trade, investment and development on the National Economic Council once helped guide negotiations for the Trans-Pacific Partnership. Andrew Quinn, a former deputy chief negotiator of the TPP who was hired by the agency as deputy assistant USTR in 2012, joined the council on Monday. [Adam Behsudi| February 28, 2016 |Politico]…
Targeting a country for perceived currency manipulation would not be an effective means to making progress on the economy, the governor of the Federal Reserve Bank of St. Louis told Morning Trade this week, knocking down one of Trump’s oft-repeated campaign promises to attack China for its currency practices. [Adam Behsudi | February 28, 2016…
WASHINGTON—The Senate on Monday confirmed Wilbur Ross as Commerce secretary, an appointment key to enabling President Donald Trump to make progress on a campaign promise to overhaul U.S. trade policy. [William Mauldin | February 27, 2016 |The Wall Street Journal] The vote was 72-27, with those opposing Mr. Ross questioning his foreign investments. Sen. Chris Murphy (D., Conn.) told…