USMCA Panel to Issue Auto Ruling; Canada to Challenge U.S. on Lumber
A dispute settlement panel says it will issue a ruling this Fall on a complaint against the United States over automobile rules of origin provisions under the U.S.-Mexico-Canada Agreement (USMCA). Canada and Mexico say the U.S. is overly strict on much foreign content a car made in Canada or Mexico can contain and still qualify for USMCA benefits. Meantime, Canada plans to challenge the U.S. over tariffs on softwood lumber products. Read more from Reuters.
Commerce Secretary Raimondo to Speak at Exporters Forum
U.S. Commerce Secretary Gina Raimondo will deliver a keynote address in September to attendees of Discover Global Markets, a forum for U.S. exporters which will be held in Providence, Rhode Island. The event will feature global opportunities in ocean science technologies, commercial marine, port technology and services, marine renewables, and maritime security and defense sectors. The American Association of Exporters and Importers is a sponsor. For more information, please click here.
U.S. Exports Hit Record; Trade Deficit Narrows
Exports of U.S. goods and services exports jumped to a new record high in June, increasing by 1.7 percent to a new high mark of $260.8 billion. The Commerce Department report that, as a result, the monthly trade deficit fell to $79.6 billion in June. Read more from Reuters.