Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Senators rebuke U.S. trade chief over lack of consultation

Published 05/10/2022, 08:05 PM
Updated 05/10/2022, 11:25 PM
© Reuters. FILE PHOTO: U.S. Trade Representative Katherine Tai testifies before a Senate Finance Committee hearing on President Biden's trade policy agenda on Capitol Hill in Washington, U.S., March 31, 2022.  REUTERS/Jonathan Ernst

By David Lawder

WASHINGTON (Reuters) -A contingent of six U.S. senators led by Democrats on Tuesday chastised U.S. Trade Representative Katherine Tai about her handling of negotiations on COVID-19 vaccine intellectual property rights, saying she had failed to consult them.

The members of the Senate Finance Committee, including Chairman Ron Wyden and two other of Tai's fellow Democrats, said in a letter https://www.finance.senate.gov/imo/media/doc/05102022%20USTR%20Consultation%20and%20Transparency%20Letter.pdf she had not complied with requirements to inform and consult them.

The United States, the European Union, India and South Africa reached a compromise on May 3 that could lead to a broader World Trade Organization deal on intellectual property rights on COVID vaccines aimed at increasing vaccine production in developing countries. The proposal is now being discussed among the WTO's 164 member countries.

"USTR's announcement of the outcome preceded its informing Congress of the specifics of the compromise or sharing text of the proposal," the senators wrote.

The group said it wanted to make sure the administration of Democratic President Joe Biden did not similarly fail to consult Congress about other trade negotiations such as at the WTO or bilateral talks with Britain.

"USTR takes our commitment to transparency and consultation with Members of Congress extremely seriously," USTR General Counsel and Chief Transparency Officer Greta Peisch said in a statement.

© Reuters. FILE PHOTO: U.S. Trade Representative Katherine Tai testifies before a Senate Finance Committee hearing on President Biden's trade policy agenda on Capitol Hill in Washington, U.S., March 31, 2022.  REUTERS/Jonathan Ernst

"We have routinely consulted Congress and sought input from stakeholders as the administration works to facilitate an outcome on intellectual property at the WTO," Peisch said, adding that such efforts would continue to increase before a final agreement is reached on the WTO waiver.

The senators, who also included Democrats Robert Menendez of New Jersey and Catherine Cortez Masto of Nevada and Republicans Mike Crapo of Idaho, Chuck Grassley of Iowa and Ben Sasse of Nebraska, said that regardless of whether negotiations lead to changes in U.S. law, USTR has an obligation to engage in "meaningful" consultations with Congress on specific proposals.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.