American Oil and Gas Reporter - November 2018 - 30

International Trade

Disputes Threaten U.S. Oil, Gas Output
By Dan Holder

national security, and tariffs and quotas
are needed to allow U.S. steel and aluminum companies time to recover.
"We are aggressively fighting predatory
foreign trade practices, breaking down
barriers to American exports, addressing
the theft of intellectual property and designs, and challenging market-distorting
industrial subsidies that continue to harm
American industries," the agency says.
On the international trade front, the
White House reports negotiations have
led to a new trade agreement replacing
the North American Free Trade Agreement. It says the new pact between the
United States, Mexico and Canada updates
that 24-year-old treaty with modern provisions to serve the interests of U.S.
workers and businesses.
According to media reports, most of
the provisions in the United States Mexico
Canada Agreement (USMCA) will not
go into effect until 2020, after the three
countries have approved the treaty. For
the oil and gas industry, media coverage
suggests the most important news in the
new treaty is what it retains from NAFTA,

WASHINGTON-U.S. trade policy developments are prompting both criticism
and praise from representatives of the
country's oil and natural gas producers.
A new arrangement for North American
trade is drawing industry applause, but
oil and gas groups continue to question
U.S. tariffs on oil field goods and express
concern about how protectionist measures
are prompting some countries to erect
retaliatory barriers.
Reporting he has fulfilled a promise
made during his 2016 campaign, President
Donald Trump says his administration is
moving aggressively to address predatory
trade practices that have eroded the U.S.
manufacturing base by using tools Congress created to address those challenges.
To ensure the nation's manufacturing
renaissance continues, the U.S. Commerce
Department's International Trade Administration says it seeks a level playing
field for U.S. companies and workers. It
reports President Trump has concluded
imports of steel and aluminum threaten

Oklahoma Shale

including provisions to protect U.S. producers' foreign investments and to prohibit
tariffs on raw and refined oil and gas
products. The new USMCA strengthens
intellectual property protections, including
patents and trademarks.
The new trade agreement imposes
limits on investor-state dispute settlements
(ISDS) but preserves current protections
for the oil and gas, telecommunications
and transportation industries, news reports
indicate. Under the system, companies
are allowed to sue governments of nations
where they operate if those states impose
new regulations.
USMCA also blocks the three countries
from barring tariffs on raw or refined
products such as gasoline, and reduces
tariffs on a thinner used on heavy Canadian
crude for pipeline transportation, media
accounts say.
Trade Relations
Forging an expedited resolution process
for trade disputes involving the oil and
gas industry is one of the highest priorities
for U.S. producers, affirms Ed Longa-

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American Oil and Gas Reporter - November 2018

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