What Trade Agreement Is the Us Currently Negotiating

Both sides described what they want to achieve in the negotiations. The objectives of the United States are, as might be expected, complete. The USTR has identified 24 chapters for negotiation, including technical barriers to trade, intellectual property, digital trade, anti-corruption, good regulatory practices, and subsidies. Kenya`s statement of objectives is just as comprehensive, but not as detailed. The Department of Industrialization, Trade and Business Development has identified 22 chapters that it intends to negotiate with the United States. A trade deal between the US and the EU “doesn`t look good in the short term,” Lighthizer said, citing the EU`s agricultural biotechnology policy as particularly problematic. According to Inside US Trade, he added that he was considering an investigation into this Article 301 policy, which could lead to tariffs on imports of products from the EU if necessary “to achieve a fair jolt for US companies”. He also said that “with the recent changes in the direction of the EU, the United States hopes for further progress in the coming year.” Another important type of trade agreement is the Framework Agreement on Trade and Investment. TFA provide a framework for governments to discuss and resolve trade and investment issues at an early stage. These agreements are also a way to identify and work on capacity building, where appropriate. The United States has free trade agreements (FTAs) with 20 countries. These free trade agreements are based on the WTO Agreement and have broader and stricter disciplines than the WTO Agreement. Many of our free trade agreements are bilateral agreements between two governments.

But some, such as the North American Free Trade Agreement and the Dominican Republic-Central America-United States Free Trade Agreement, are multilateral agreements between several parties. The USTR recently released a summary of the U.S.`s specific goals in negotiating a trade deal with Kenya, and Lighthizer said he expects talks to begin soon. However, Kenyan President Uhuru Kenyatta recently said that negotiations would be postponed until after the African Continental Free Trade Area entered into force. This had been set for July 1, but appears to have been delayed indefinitely due to the impact of the COVID-19 pandemic. Genetically modified organisms (GMOs). The U.S. food industry is an innovator in GMOs and related technologies that improve yields and reduce the need for chemical fertilizers and pesticides. Kenya is strictly opposed to the importation of genetically modified foods.

In fact, these foods are not allowed to enter or pass through Kenyan ports to other destinations. Like the WTO Agreement on Sanitary and Phytosanitary (SPS) Standards, U.S. trade agreements require SPS rules to be scientific and evidence-based, leading to a conflict with Kenya`s position on GMOs. This disagreement could have an impact on small and medium-sized enterprises, particularly in the agricultural sector, which depend on low-cost raw materials and other inputs. Based on discussions with industry representatives in the United States and Kenya, we expect both sides to be able to find a satisfactory solution to this problem. The US and UK are currently holding a second (virtual) round of negotiations on a bilateral trade agreement that will enter into force after the UK`s formal withdrawal from the EU. According to news reports, Lighthizer said the White House wanted it to be “a full-fledged deal,” but downplayed the prospects of shutting it down before the end of 2020. “These things are going to take time,” he told the National Association of Farm Broadcasters, “both because they`re complicated and because each of us has to be careful that there will be a compromise to get to a big trade deal.” For example, he suggested that the U.S. would push for the U.K.

to ease current restrictions and expand market access for U.S. agricultural products. Israel The U.S.-Israel Free Trade Agreement, our country`s first free trade agreement, entered into force on September 1, 1985. Since the FTA entered into force, total bilateral trade in goods with Israel has increased fivefold, from $4.7 billion in 1985 to more than $27 billion in 2016. USTR US-Israel FTA page » The expiration of President Biden`s Trade Promotion Authority (“TPA”) in July 2021 hangs over negotiations on the U.S.-U.K. Free Trade Agreement. This congressional legislation gives the White House the power to speed up foreign trade agreements. If the TPA is not renewed, the US-UK free trade agreement could face an uphill battle in Congress. The United States is conducting or considering negotiating bilateral trade agreements with a number of trading partners. U.S. Trade Representative Robert Lighthizer provided the following updates on these discussions during the June 17 hearings before the Senate Finance Committees and house ways and means. The North American Free Trade Agreement (NAFTA) entered into force on January 1, 1994.

NAFTA exports support more than three million American jobs. In the first ten years of NAFTA, merchandise trade between the three countries more than doubled, from about $293 billion in 1993 to nearly $627 billion in 2003. In 2016, merchandise trade between the United States and nafta`s two trading partners totalled nearly $800 billion. USTR NAFTA Page » Regional Agreements. One of the most frequently asked questions is how a free trade agreement between the United States and Kenya will affect efforts to implement the African Continental Free Trade Agreement (AfCFTA). So far, the USTR statement on the issue has been ambiguous, saying only that the U.S. will “support regional integration where appropriate.” U.S. companies and groups such as the U.S.

Chamber of Commerce say they support both the FTA and AfCFTA negotiations, and that both reinforce Kenya`s growth and development goals. President Kenyatta also sought to allay fears that the ongoing trade negotiations between Kenya and the United States could undermine the AfCFTA. According to him, Kenya`s trade agreement with the United States will help the continent in a broader sense by creating a benchmark for other African countries to negotiate bilateral agreements under the AfCFTA in the future. Kenya also has obligations as a member of the East African Community (EAC) Customs Union. Like its EAC members, Kenya applies a common external tariff and may have limited room for manoeuvre to negotiate concessions in this area. .

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