Will Republican control of the House of Representatives get U.S. trade policy back on track? Rep. Adrian Smith (R-Neb.), a member of the House Ways and Means Committee, says it could. In particular, he’s optimistic that the 118th Congress can deliver on a few bipartisan trade priorities, including the Generalized System of Preferences and the Miscellaneous Tariff Bill. There’s another trade policy – one also touted as a bipartisan priority – that Smith and his Ways and Means colleagues should be wary of: Mandatory Country of Origin Labeling (MCOOL). MCOOL requires that the inputs used to make a good be audited for nationality, despite being sourced from a global supply chain. The
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