Trade Provisions Removed from Chips Bill, Senate Advances It
The Senate advanced a lean version of the computer chip subsidy bill this week, which it is expected to pass in a floor vote early next week. But trade provisions that were part of stalled versions of the bill have been removed. The legislation includes about $54 billion in subsidies for U.S. semiconductor companies and tax credits to encourage manufacturing in the U.S. Read more from Reuters.
White House Creates PEB to Help Resolve Freight Rail Labor Dispute
The Biden Administration created a Presidential Emergency Board (PEB) this week to help resolve ongoing labor negotiations between freight rail carriers and their workers. Independent arbitrators to help both sides agree to a new contract. Last week, the American Association of Exporters and Importers (AAEI) sent a letter to the Biden Administration urging policymakers do all they can to avoid freight rail network disruptions. Read more from the Association of American Railroads (AAR).
CBP Holds 2022 Trade Facilitation and Cargo Security Summit
U.S. Customs and Border Protection (CBP) held the 2022 Trade Facilitation and Cargo Security Summit in Anaheim, California this week, combining the agency’s annual Trade Symposium with its Customs Trade Partnership Against Terrorism (CTPAT) Conference. Day One agenda topics included CBP’s 21st Century Customs Framework, Forced Labor Enforcement and Uyghur Act Implementation, Cargo and Trade Innovation, and E-Commerce. Day Two focused on CBP Leadership, Field Work, Forced Labor and a keynote speech by CBP Commissioner Chris Magnus. Commissioner Magnus also signed customs cooperation agreements with Colombia, Guatemala, and Uruguay. Click here for more information on the event.