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"It's clear this agreement is one of convenience," House Ways and Means Committee ranking member Richard E. Neal [!], D-Mass., and Senate Finance Chair Ron Wyden, D-Ore., said in a statement. "Even among allies, the United States should only enter into agreements that account for the realities of an industry, learn from past agreements, and raise standards." [...] The recent deal with Japan is an example of these so-called Critical Minerals Agreements, and Treasury touted it as containing "robust obligations" to ensure free trade in critical minerals and "detailed undertakings related to the enforcement of labor and environmental laws." But lawmakers such as House Ways and Means Trade Subcommittee ranking member Earl Blumenauer, D-Ore., said the administration is "redefining a Free Trade Agreement" with the guidance, and Rep. Dan Kildee, D-Mich., also a member of the subcommittee, accused the administration of "bypassing Congress' role in ratifying free trade agreements" with the deal.U.S. excludes oil for Japan from Russia's Sakhalin-2 from price cap (23.11.22) Japan will not ban imports of Russian oil, natural gas (10.03.23) Japan buys Russian oil above $60-a-barrel cap, breaking with US allies: report (02.04.23) Japan Splits With [Price Cap Coalition] on Russian Oil Purchases (04.04.23) ...Some industry experts have predicted that Japan will fully replace Russia as an energy partner with Qatar [+$$$] or the United States [+$$$]...Because the deal was rushed, a Democratic aide said that it doesn't include enforceable or binding provisions that are a part of other congressionally approved free trade agreements. That, in turn, means the deal lacks specific commitments to kick China out of Japan's supply chain or binding environmental or labor standards. [...]
But lawmakers such as House Ways and Means Trade Subcommittee ranking member Earl Blumenauer, D-Ore., said the administration is "redefining a Free Trade Agreement" with the guidance, and Rep. Dan Kildee, D-Mich., also a member of the subcommittee, accused the administration of "bypassing Congress' role in ratifying free trade agreements" with the deal.
U.S. excludes oil for Japan from Russia's Sakhalin-2 from price cap (23.11.22) Japan will not ban imports of Russian oil, natural gas (10.03.23) Japan buys Russian oil above $60-a-barrel cap, breaking with US allies: report (02.04.23) Japan Splits With [Price Cap Coalition] on Russian Oil Purchases (04.04.23) ...Some industry experts have predicted that Japan will fully replace Russia as an energy partner with Qatar [+$$$] or the United States [+$$$]...
Since there was no legislative discussion of the trade agreement, lawmakers know few details about how the U.S. and Japan plan to decrease their reliance on China. Japan is a top processor and producer of permanent magnet motors used in EVs made of so-called rare earth minerals, but it still gets much of its raw materials from China, said Mark Seddon, senior metals consulting manager at energy market intelligence group Argus Media. [...]
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