USTR Report Highlights Export Gains, Trade Irritants Around World
The Office of the U.S. Trade Representative highlighted a handful of gains for U.S. exports in Japan, South Korea, Africa and South America while also highlighting irritants with China, India and Vietnam, in its annual National Trade Estimate Report. Aside…
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from the lowering of trade barriers achieved in the rewritten U.S.-Korea Free Trade Agreement (KORUS), USTR noted that in January 2018, Japan recognized U.S. automobile safety standards for front and rear crashes, "thereby reducing the cost and burden for U.S. auto exporters." It also praised some anti-piracy actions in Peru and counterfeit seizures in Argentina. On the barriers side, the report again laid out the case against China that the Section 301 technology transfer enforcement action is based on. It also complained that India's price controls on knee implants and coronary stents, along with a refusal to allow U.S. companies to withdraw some products from the market, forces the U.S. to sell some products at a loss. "India has indicated it may apply similar price controls on additional medical devices."