November 30, 2015

Congress Continues Work On Customs Reauthorization – Lend Your Voice Today To Urge Congress To Address Currency Manipulation And Unfair Trading Practices

As Connecting The Dots reported last month, lawmakers and staff on the House Ways and Means and Senate Finance committees are wrapping up their informal work negotiating the differences between the House and Senate versions of H.R. 644, the customs reauthorization bill that passed both chambers earlier this year. 

While it is still unclear when the formal conference committee will meet, or when this legislation will come to the House and Senate floors for a final vote, MSCI continues to urge its members to contact their lawmakers about this bill, particularly if they are members of the House Ways and Means Committee or the Senate Finance Committee. (Members of the Finance Committee can be found here while members of the Ways and Means Committee are listed here.) 

The Senate version of the customs bill includes language that would require the Commerce Department to investigate allegations of currency manipulation and consider countervailing duties to address it. The House version of the bill does not include this provision so it is unclear whether they will survive and make it into a final bill. MSCI members are asked to tell their representatives and senators that failure to enact the Senate’s currency language would put the United States at a competitive disadvantage and erode the benefits of passing the Trade Promotion Authority bill Congress passed earlier this summer. 

The Senate’s version of the customs bill also includes the Enforcing Orders and Reducing Customs Evasion (ENFORCE) Act, which would address foreign efforts to evade trade-remedy orders. (To learn more about this provision, which MSCI also supports, we urge you to read this letter from our partners at the National Association of Manufacturers and the American Iron and Steel Institute.)