The House Ways and Means Committee held a hearing on Wednesday, June 17th regarding The 2020 Trade Policy Agenda. Ambassador Robert E. Lighthizer served as the witness for the hearing. Please see the link below for key takeaways, opening statements, and a summary of the hearing.
Category: Uncategorised
China’s Policy and Market Report
This report provides information about China’s cotton market, textile industry, and policy updates. The report provides details regarding China’s cotton imports, 2020 planting area, and prices (both imported and domestic). It also provides information regarding China’s man-made fiber production and textile/apparel exports. Lastly, the report gives details regarding where China imported their cotton from. For May, the United States was the leading exporter of cotton to China.
Senator Wicker Advances Legislation to Establish National Shipper Advisory Committee at the FMC
The U.S. Senate Committee on Commerce, Science, and Transportation approved S. 2894, the Federal Maritime Commission National Shipper Advisory Committee Act of 2019. The news press from the committee was released on May 20, 2020.
ACSA Position Limits Comment Letter
ACSA submitted a comment letter to the Commodity Futures Trading Commission regarding the proposed rulemaking entitled “Position Limits for Derivatives.” Please visit the link below for a copy of our letter.
Coronavirus Food Assistance Program Summary for Upland Cotton Updated: May 22, 2020
The updated document below regarding USDA’s Coronavirus Food Assistance Program (CFAP) provides information regarding what producers must provide for CFAP, payment calculation examples, application process, and more.
Overview of the CFAP Provided by Texas A&M & Mississippi State University
The documents below provided by Texas A&M and MSU give details and information regarding the CFAP, payment limits, calculations, and more.
Click Here for Texas A&M overview.
Click Here for MSU overview.
Additional Guidance on the Paycheck Protection Program
The U.S. Department of the Treasury and U.S. Small Business Administration released new guidance regarding the Paycheck Protection Program. Please see the links below for more details.
Interim Final Rule on Loan Forgiveness (Released May 22, 2020)
Interim Final Rule on Loan Review Procedures and Related Borrower Responsibilities (Released May 22, 2020)
For more information and updates, visit Treasury.gov/CARES and SBA.gov/PayCheckProtection.
Delta Strategy Group’s Update on COVID-19 Response
Delta Strategy Group has provided an update on how regulators and legislative bodies have been working to mitigate some of the impact COVID-19 has on markets, businesses, and households.
Wicker Supports New FMC Guidance to Improve Freight Fluidity
We applaud Chairman Wicker for his leadership and responsiveness during the development and finalization of the Federal Maritime Commission’s revised guidance on demurrage and detention. The final rule, “Docket No. 19-05, Interpretive Rule on Demurrage and Detention under the Shipping Act”, will become effective upon its publication in the Federal Register.
Please see the following press release expressing Wicker’s support, including ACSA stimulated actions engaging the Memphis Supply Chain Innovation Team and the creation of a Shipper Advisory Board. Chairman Wicker’s support was instrumental in advancing this guidance which will create efficiency and fairness in the supply chain. We are grateful for his support.
