Economy
Senate to Vote on Customs Bill Thursday
Written by Brett Linton
February 9, 2016
The long awaited customs bill is headed to the Senate for approval on Thursday, Feb. 11. If Senate approves the conference report of the Trade Facilitation and Trade Enforcement Act (H.R. 644) it will move on to the White House for the President’s signature.
The bill is designed, among other things, to streamline the flow of legitimate trade and to enforce U.S. trade agreements, U.S. intellectual property rights and antidumping and countervailing duty laws, as well as combating currency manipulation. The Act will help prevent competitors from gaining an unfair advantage in the U.S. market.
The American Institute for International Steel has given its support to bill. In an email to AIIS members, the Institute wrote:
“Among the key Customs and other improvements contained in this bipartisan legislation are provisions to modernize Customs and Boarder Protection’s (CPB) automated systems, and to make further progress toward the development of a “single window”, so that cross-border traders can fulfill all U.S. Government import and export requirements through a single contact point, or window. These improvements will result in real costs savings that will help make the United States more internationally competitive. By facilitating trade, especially trade through our ports, these provisions will also help secure port-related jobs and wages.”
AIIS has requested steel industry members to contact their Senators and urge them to vote for the conference report of the Trade Facilitation and Trade Enforcement act.
A summary of the Customs Bill can be read here.
Brett Linton
Read more from Brett LintonLatest in Economy
Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey