Cuba – Additional Restrictions Lifted;Treasury Releases Quarterly Report: Trade Talk – Week in Review, 10-16 October 2016
The U.S. Congress is in recess until after the 8 November elections. The House of Representatives will reconvene on Monday, 14 November, and the Senate the following day.
The U.S. International Trade Commission (USITC) published its long awaited Federal Register notice on 14 October regarding the Miscellaneous Tariff Bill (MTB) petition process. Petitions for duty suspensions and reductions will be accepted until 5:15 p.m. EST on 12 December 2016. More information on the process is available on the USITC’s MTB website.
Cuba – Additional Restrictions Lifted. The Departments of Treasury and Commerce issued further regulatory changes on 14 October, intended to facilitate more interaction between the Cuban and American people, including through travel and commercial opportunities, and more access to information. President Obama said in a separate statement:
I approved a Presidential Policy Directive that takes another major step forward in our efforts to normalize relations with Cuba. This Directive takes a comprehensive and whole-of-government approach to promote engagement with the Cuban government and people, and make our opening to Cuba irreversible.”
Currency – Treasury Releases Quarterly Report. On 14 October, the Treasury Department released its quarterly report on foreign exchange policies of major trading partners, saying “no major trading partner of the United States” was manipulating the value of its currency against the dollar.