Wednesday, December 25

Global Trade

UK Moves One Step Closer To Trans-Pacific Trade Deal
23Feb By Jacob DavenportNo Comments
Global Trade, Types of News: Brief

UK Moves One Step Closer To Trans-Pacific Trade Deal

February 23, 2022—Since beginning negotiations to join one of the world’s largest trade agreements last Summer, the United Kingdom reached a major milestone this month. Signing new trade deals is a significant goal for Britain's post-Brexit strategy. After eight months of talks, the United Kingdom is moving to the final stages of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. That's because a CPTPP Accession committee approved moving Britain into the second phase of negotiations. The Japanese government, which is chairing the Accession Committee for the UK, confirmed that step on Feb. 18. 'Largest Free Trading Club' UK's Trade Secretary Anne-Marie Trevelyan commented on the significance of joining the trade deal. "CPTPP is one of the large...
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EU Backs Lithuania Against China Trade Restrictions
2Feb By Patti MohrNo Comments
Diplomacy, Global Trade, International Law, Legal Battles, Types of News: Brief

EU Backs Lithuania Against China Trade Restrictions

EU Commissioner meets with the Lithuanian president. Lithuania's Recognition of Taiwan is at the Center of the Trade Spat February 2, 2022--The European Union opened a dispute in the World Trade Organization against China in defense of EU-member Lithuania. The request for dispute consultations alleges that China restricted trade with Lithuania in violation of international rules governing trade. According to the EU, the trade restrictions are "novel, numerous, recurrent, and persisting" and "show a targeted prohibition or restriction" against Lithuanian goods and services. Furthermore, the complaint says, trade restrictions impact supply chains throughout the EU. Finally, the EU claims the restrictions violate the General Agreement on Tariffs and Trade 1994 (GATT). 'No Othe...
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U.S. Industry Association Cheers Congress For Advancing Semiconductor Legislation
19Nov By Steve BerlinNo Comments
Global Trade, Types of News: Brief

U.S. Industry Association Cheers Congress For Advancing Semiconductor Legislation

China May Have Head Start on Chip Making Due to Trade War November 19, 2021--This week, the U.S. Congress advanced legislation that would boost the U.S.-production of semiconductors. It comes amid concern that while Western industry feels the pinch of the global semiconductor shortage, the Chinese government may be better positioned than others to ramp up production. Last year, the Trump Administration blocked semiconductor sales by American companies and the companies with which they do business to China in the name of national security. Photo by Jonas Svidras on Unsplash China's Government Produces Chips Washington, D.C.-based data analysis firm Sayari Graph reports the Chinese government owns 13 percent of that nation’s semiconductor firms. There are more ...
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WTO Rejects All Legal Claims By China in U.S. Tariffs on Solar Imports
3Sep By Patti MohrNo Comments
Global Trade, Organizations, IMF, WTO, G7, Types of News: Brief

WTO Rejects All Legal Claims By China in U.S. Tariffs on Solar Imports

U.S. Safeguard Tariffs Set To Expire in February 2022 September 3, 2021--The world's legal body for settling trade disputes rejected a complaint yesterday by China over U.S. tariffs on solar products made in China. The World Trade Organization's Dispute Settlement body denied all of China's claims against the U.S. safeguard tariff on China-made solar materials called Crystalline Silicon Photovoltaic Products. A safeguard measure is a temporary trade restriction countries apply to an import that occurs in such high quantities that it causes serious injury to the domestic industry. They are allowed under WTO rules for emergency and temporary use. Dispute Started in 2018 In 2017, the U.S. International Trade Commission responded to a complaint by Suniva, Inc. and SolarWorld Am...
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No Foreseeable Change In US-China Trade Status, Despite Push By U.S. Businesses
11Aug By Patti MohrNo Comments
Global Trade, Political Systems, Domestic Politics, Types of News: Analysis

No Foreseeable Change In US-China Trade Status, Despite Push By U.S. Businesses

Image of port by Maksym Kaharlytskyi via Unsplash US Business Leaders Cite 'Core Structural Economic Concerns' in US-China Relationship August 11, 2021--Even as competition and disagreements intensify between the world's largest two economies, U.S. business leaders are urging U.S. and Chinese trade representatives to return to the negotiating table. More than 30 business, agricultural and trade organizations signed a letter to Treasury Secretary Janet Yellen and US Trade Representative Katherine Tai late last week. The industry leaders asked U.S. trade representatives to work with the Chinese government on implementing an existing trade deal. Furthermore, they asked for relief from tariffs and retaliatory tariffs. President Joe Biden, meanwhile, is emphasizing domestic renewal...
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Mexico Sues U.S. Gun Manufacturers, Saying Defendants ‘Knowingly Sell to Criminals’
5Aug By Patti Mohr1 Comment
Arms Sales, Military Industry, Corruption, Bribes, Illicit Finance & Money Laundering, Global Trade, Types of News: Brief

Mexico Sues U.S. Gun Manufacturers, Saying Defendants ‘Knowingly Sell to Criminals’

It is illegal to sell military-style weapons in Mexico. Lawsuit Sheds Light On Gun Sales And Criminal Cartels August 5, 2021--The government of Mexico filed a personal injury lawsuit against 10 U.S. gun manufacturers yesterday. It's significant that the lawsuit accuses U.S. gun manufacturers of knowingly and willingly selling their products to criminals. "The flow of guns from Defendants’ U.S. manufacturing plants and stores to the streets of Mexico is not an inevitable, natural phenomenon like the migration of monarch butterflies," the lawsuit says. "The flow of guns into Mexico is a foreseeable result of Defendants’ deliberate and knowing decisions to design, market, distribute, and sell guns in ways they know with virtual certainty will supply criminals in Mexico." 10 Defend...
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State Department Tells Businesses: Stay Away From Xinjiang, China
13Jul By Spencer HayesNo Comments
Communism, Dictatorship, Diplomacy, Global Trade, Human rights, Sanctions, Types of News: Analysis

State Department Tells Businesses: Stay Away From Xinjiang, China

July 14, 2021—The U.S. State Department and six other Cabinet departments warned Americans against doing business with any person or entity connected to China's Xinjiang Province. It comes a day after the State Department formally accused China along with four other countries and a terrorist network of committing genocide. In China, the reputed human rights abuse is taking place against the primarily Muslim Uyghur population as well as other minorities. A Warning On Business Relations U.S. Secretary of State Antony Blinken - By U.S. Department of State The departments of State, Commerce, Homeland Security, Justice, Labor, Treasury, and the Office of the U.S. Trade Representative warned Americans of the risks of breaking U.S. law for doing business with anyone connected ...
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U.S. Court Rules in Favor of Importers Opposing Tariffs on Chinese Goods
7Jul By Patti MohrNo Comments
Global Trade, Types of News: Brief

U.S. Court Rules in Favor of Importers Opposing Tariffs on Chinese Goods

July 7, 2021-In what may be the first of thousands of cases contending Trump-era tariffs on Chinese goods, a high-level U.S. court ruled on Tuesday in favor U.S. importers. According to attorneys for the U.S. businesses, the ruling is likely to impact more than 6,500 plaintiffs who have filed similar lawsuits. The Case Decided This Week A group of U.S. companies in the flooring and home-based consumer products argued that import tariffs on Chinese goods imposed "irreparable harm" on their businesses. The case, which is the first of 3,600 cases before the Court of International Trade, relates to the final collection of tariff duties, called "liquidation." Specifically, the court ruled that, "Liquidation, as the final computation of duties, will constitute irreparable harm unless an...
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U.S. Bans Solar-Industry Product Made in Xinjiang, China Over Concerns of ‘Modern-Day Slavery’
5Jul By Spencer HayesNo Comments
Global Trade, Globalization, Global Disintegration, Human rights, Types of News: Brief

U.S. Bans Solar-Industry Product Made in Xinjiang, China Over Concerns of ‘Modern-Day Slavery’

July 5, 2021-- In the latest move to identify and prohibit products produced by "state-sponsored forced labor," the U.S. government banned imports of a material made in Xinjiang, China. The product, polysilicon, is a key component in the supply chain of solar panels. As a result of the ban, U.S. Customs officials must intercept imports of the product at U.S. ports. The decision is likely to have an impact not only on consumer and manufacture prices but also on foreign relations between the two countries. 'Modern-Day Slavery' Alejandro N. Mayorkas, U.S. Homeland Security Secretary, announced the order against Hoshine Silicon Industry in late June. The decision followed discussions among leaders from G7 countries about the use of forced labor global supply chains. It also comes on t...
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Australia Asks WTO For Dispute-Talks Over Waning Wine Sales in China
29Jun By Patti MohrNo Comments
Global Trade, Organizations, IMF, WTO, G7, Types of News: Brief

Australia Asks WTO For Dispute-Talks Over Waning Wine Sales in China

June 29, 2021-Australia requested dispute consultations in the World Trade Organization with China this week over its wine imports. Specifically, Australia is challenging China's anti-dumping and countervailing measures on imports of Australian wine. The WTO is the world's largest body for settling trade disputes. Australian exports of wine are facing countervailing measures in China over trade disputes. Photo credit: Just Wines According to a Reuters news story published in the Spring, Australian wine exports from AU$325 million in the final quarter of 2019 to AU$12 million in December of 2020. The agreements cited are the WTO's Anti-Dumping Agreement, the Agreement on Subsidies and Countervailing Measures, and the General Agreement on Tariffs and Trade 1994. China-Australia Trad...
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