Reviewing the USMCA
Pursuant to the review of the USMCA provided for in Article 34.7, USTR has requested comments and is holding a hearing. USTR's comments portal shows 1,515 comments submitted, so a lot of people had things to say!
Simon Lester
Trump's Cambodia Trade Deal, Arms Exports, and the Role of Non-Trade Concessions
In this post, I'm going to talk about some aspects of the recent U.S. trade deal with Cambodia that I haven't heard raised yet, including the following questions: (1) Is the decision to allow U.S. arms exports to Cambodia pursuant to this deal designed to boost U.S. manufacturing?
Roundup of IEEPA Hearing Commentary
I listened to today's Supreme Court hearing on the IEEPA tariff cases, but it was clear to me that I am not well-positioned to offer good insights on how the Court might rule. (The transcript is here if anyone wants to give this kind of tea leaf reading a shot themselves).
Economic and National Security Provisions in U.S. Trade Agreements
A few weeks ago, I wrote a post cautioning everyone to "Beware the 'Securitization' of Trade Policy." So far, however, it looks like my post has been a big failure, as many people seem to be throwing caution to the wind, and instead of being wary
The Future of U.S. Big Tech and Social Media (and a Quick Thought on Manufacturing)
As the saying goes, it's difficult to make predictions, especially about the future, but in a piece I wrote for the Baker Institute, I argue that the social media landscape is going to become smaller and more global, with U.S. big tech control declining. Is this just
Tracking Foreign Investments in the U.S. Pursuant to Trump's Trade Deals
According to President Trump and his administration, one of the most important elements of the trade deals they are negotiating right now is the commitments being made by foreign governments and companies to invest in the U.S. The aggregate figures mentioned in this regard have been as high as
Some Questions about the Cambodia and Malaysia Trade Deals
The White House released the texts of trade agreements with Cambodia and Malaysia today. I have lots of questions about this.
Why Not Use the Phase One Deal's Enforcement Mechanism?
On Friday, USTR initiated a Section 301 investigation of "China’s implementation of the Economic and Trade Agreement Between the Government of the United States of America and the Government of the People’s Republic of China ('Phase One Agreement')."
Grossman and Sykes on Reciprocity in U.S. Trade Relations
In a new paper entitled "Commandeering the Customs: An Economic and Legal Perspective on the President’s 'Emergency' Imposition of 'Reciprocal Tariffs'," professors Gene Grossman and Alan Sykes push back on the idea that there is a lack of reciprocity in U.S. trade
How Should the U.S. Respond To China's Non-Market Practices?
In an interview last week, Treasury Secretary Scott Bessent talked about the Trump administration's response to China's non-market practices. Part of this response, as he presents it, has been for the U.S. to pursue a specific version of state-led industrial policy as a defensive measure.