August 19, 2014


August 19, 2014

August 18, 2014

U.S. Government Announces New International Services Negotiations

On January 15, 2013, the Obama Administration formally notified Congress that it intends to enter into negotiations to expand global trade in services.  Initially, the United States will negotiate with 20 other World Trade Organization (WTO) Members (Australia, Canada, Chile, Colombia, Costa Rica, the European Union, Hong Kong, Iceland, Israel, Japan, Korea, Mexico, New Zealand, Norway, Pakistan, Panama, Peru, Switzerland, Taiwan and Turkey), which collectively represent two-thirds of global trade in services.  The list of participating countries will almost certainly grow over time.  The negotiations are expected to begin in April, following a comment period and public hearings.

The new services negotiations offer large growth opportunities for all entities engaged in supplying global services (e.g., express delivery; distribution; professional services; financial services; insurance, banking and brokerage; audio-visual; telecommunications; health care; education; and hospitality services).  The United States is the world's largest exporter of services, totaling $1 trillion, including sales through foreign affiliates. 

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Jay L. Eizenstat is a partner in the law firm of McDermott Will & Emery LLP and is based in the Firm’s Washington, D.C. office.  His practice focuses on U.S. and World Trade Organization (WTO) trade law and policy, market access and trade initiatives disputes involving U.S. trade obligations and the WTO, and domestic and international customs matters. 

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Pamela D. Walther is a partner in the law firm of McDermott Will & Emery LLP and is based in the Firm's Washington, D.C., office.  She focuses her practice in the international trade area with particular emphasis on trade relief and market access for food and agricultural products.