USTR action on countries: What expats and immigrants should expect
The United States of America recently witnessed the swearing-in ceremony of its 46th President, Joe Biden who immediately upon taking charge of his office is adamant to undo most of the legislations ordered or passed during Trump’s regime. The same is expected to have a profound impact on the immigrants and the expats. The USTR i.e., Office of the United States Trade Representative considered as an executive wing of the President’s office is entrusted with the responsibility to develop and make suitable recommendations in the interest of its nation’s trade policy.
Impact On Expats And Immigrants
The USTR has rolled out certain announcements with regards to certain nations across the world that are expected to affect the immigrants and the expats. It is empowered by section 301 of the US Trade Act to investigate any unfair or discriminatory trade practices of its trading partners and initiate suitable actions in retaliation to the same. Let us look into the following points for a better understanding-
- The USTR had declared last year that the 3 percent digital services tax on the US tech giants like Google, Apple, Facebook, and Amazon was unfair and subsequently imposed a whooping tariff of 25 percent on the import of French cosmetics, handbags, etc. However, the same was called off recently at the very start of this new year.
- The USTR has also announced that it is also investigating the similar digital services taxes imposed by other nations such as India, Italy, and Turkey to take suitable retaliatory actions, and also slammed them for being inconsistent with the principles of international taxation.
- The international tax consultants in Toronto and expats tax consultants in Toronto are analyzing the possible impacts of such events on the expats and the immigrants.
- Moreover, in the early half of 2020, USTR eliminated India, Brazil, Hong Kong, Indonesia, Africa, and Argentina from securing any trade benefits offered by the USA.
- Along with these, the US government is expected to go lenient with its refugee policy such that more and more stranded Mexican and Latin American people are expected to get legitimate entry into the US without any hassles. However, their right to US citizenship would not be guaranteed through their right to work in the country.
Thus, with such similar efforts, the USTR is focusing to strengthen the place of the US citizens worldwide and grant them their suitable share in the global economy. As Joe Biden is expected to deal leniently with the economically weaker sections of the society by taxing the richer section more heavily in the nation, corporations will likely be outsourcing their work to other nations. Also, many of the travel bans, especially those of the Muslims around the world, are expected to be revoked making the US more friendly to attract immigrants to contribute towards the US GDP.
