Trade
This week I participated in a Ways and Means Committee hearing on the future of our trade relationship with Taiwan. The hearing explored opportunities provided by ongoing trade talks between the U.S. and Taiwan. In the midst of increased pressure from China through dialed-up military exercises and heavier tariffs, Taiwan is eager to strengthen ties with the U.S. and our democratic values. Done right, expanding our trade relationship could be a win for American businesses and consumers, and a win for democracy.
Washington, D.C. – Rep. Adrian Smith (R-NE), Lead Republican of the House Ways and Means Committee's Trade Subcommittee, released the following statement on enactment of the Formula Act, Smith's bipartisan legislation to temporarily suspend tariffs on FDA-approved infant formula:
As Vladimir Putin's invasion of Ukraine continues with no end in sight, it is as important as ever for the U.S. to strengthen our ties with allies in the region. Standing in solidarity with states at risk of Russian aggression requires us to send a clear message we are working on behalf of the friends of freedom and economic prosperity.
Washington, D.C. – Today, Rep. Adrian Smith (R-NE), Lead Republican of the House Ways and Means Committee's Trade Subcommittee, released the following statement on the announcement United States Trade Representative (USTR) Katherine Tai has requested dispute settlement consultations with Mexico over Mexico's recent energy policies under the United States-Mexico-Canada Agreement (USMCA):
Washington, D.C. – Rep. Adrian Smith (R-NE), Lead Republican of the Ways and Means Trade Subcommittee, released the following statement after the World Trade Organization's Twelfth Ministerial Conference (MC12).
Washington, D.C. – Rep. Adrian Smith (R-NE), Lead Republican on the Ways and Means Trade Subcommittee, introduced a privileged resolution to hold the Biden administration accountable for handing over American innovation to China in ongoing negotiations over a potential waiver of certain obligations under the World Trade Organization's Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement.
Smith released the following statement:
Since 1948, Israel has been an important ally of the United States. Unfortunately, Israel has also endured a great deal of conflict with those who seek its destruction in the Middle East. Last weekend marked the 55th anniversary of Yom Yerushalayim, or Jersusalem Day, a celebration of the liberation of the city of Jerusalem from the forces of six of Israel's aggressing neighbors during the Six Day War in 1967.
Since entering into force on July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) has provided a powerful framework to fight for opportunity on behalf of American workers, producers, and industry, and has strengthened ties with our nation's top two trade partners. Spearheaded by the Trump administration as a much-needed modernization of the North America Free Trade Agreement (NAFTA), USMCA won 474 "yea" votes across both chambers as it passed through Congress, the greatest level of bipartisan support for a trade agreement since 2001.
American families across the country are grappling with increasing costs and economic uncertainty. Last week, the Consumer Price Index confirmed costs of household items, energy, and services have risen by more than 8 percent, on average, over the last 12 months. Consumers are tightening their budgets, purchasing less, choosing generic groceries more, and often going without.