On April 26, the U.S. House of Representatives passed the Limit, Save, Grow Act of 2023 (H.R. 2811) to suspend the federal government’s debt ceiling through either March 31, 2024, or a $1.5 trillion increase when the current $31.4 trillion ceiling runs out, whichever comes first. It’s not unusual for Congress to raise the debt ceiling so Treasury can continue to sell U.S. bonds…
CONTINUE READINGGovernment Affairs
Proposed PFAS Standards from the U.S. EPA
The U.S. Environmental Protection Agency (EPA) has taken steps to set maximum levels for certain polyfluoroalkyl and perfluoroalkyl substances (PFAS) in public drinking-water systems, and to designate certain PFAS as hazardous substances under the Comprehensive Environmental Response, Compensation and Liability Act or CERCLA (the Superfund law). PFAS are chemicals that have…
CONTINUE READINGIHA Submits Comments to USTR Tariff Review
As required by the Trade Act of 1974, the U.S. Trade Representative (USTR) must conduct a “necessity review” of the Section 301 tariffs on some $350 billion of products from China (Lists 1, 2, 3 and 4a) or the tariffs automatically sunset after four years. However, the Trade Act is somewhat vague on how a review should be done, giving USTR a fair amount of latitude in carrying…
CONTINUE READINGSignificant Trade and Shipping Regulatory Actions
The U.S. Trade Representative (USTR) is required by statute to conduct a “necessity review” of Section 301 tariffs, which in this case concern tariffs placed on some $300-$350 billion of products from China (Lists 1, 2, 3 and 4a). Former President Donald Trump started imposing the duties in 2018 under Sec. 301 of the Trade Act of 1974, which automatically expire after four…
CONTINUE READINGLabor Relations Regulatory Update
The Biden Administration’s regulatory agenda will face Republican scrutiny in the next Congress by way of oversight hearings and a stream of information requests to agency heads between hearings from committee chairs. Administration proposals concerning labor (employee) relations will be one of the more controversial areas based on Republican concerns that they will create more…
CONTINUE READINGTariff Update
In early September, the U.S. Trade Representative (USTR) announced it had received comments from a number of entities supporting a continuation of the Section 301 tariffs on products produced in China. This culminates the first phase of USTR’s statutorily mandated “review of necessity” for Sec. 301 tariffs before they expire after four years. However, by September’s end, USTR…
CONTINUE READINGFederal Spending, Taxes, Inflation and Interest Rates
According to many economists, a major contributor to inflation in the U.S. economy is federal spending. Congress had already spent $3 trillion in 2020 responding to the pandemic when Democrats took the reins and passed the $1.9 trillion American Rescue Plan in March 2021. This was done despite warnings from economists including former Obama officials who feared more big…
CONTINUE READINGSupply Chain Variables Cloud the Future
The Ocean Shipping Reform Act of 2022 (OSRA22, S. 3580) signed on June 16 by President Joe Biden is a major step toward fixing supply chain problems that involve ocean carrier practices. An immediate benefit for trucking firms and shippers is that OSRA now requires 13 specific items of information on carriers’ invoices and failure to include such information relieves the need…
CONTINUE READINGTwo Important Trade Developments
On June 16, President Joe Biden signed the Ocean Shipping Reform Act of 2022 (OSRA22, S. 3580) into law. This followed the House’s June 13 passage of the Senate version 369-42 in response to White House pressure for House Democrats to accept the Senate bill and quickly get a much-needed victory to the President’s desk. This rare and meaningful bipartisan achievement will…
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