Wednesday, December 25

Global Trade

U.S.-Mexico Promise to Combat Migration, Invest in Central America
9Jun By Patti MohrNo Comments
Diplomacy, Global Trade, Migration, Immigration, Borders, Types of News: Brief

U.S.-Mexico Promise to Combat Migration, Invest in Central America

June 9, 2019-After a week of negotiations between Mexican and U.S. officials, the United States and Mexico promised to work together to curb irregular migration and promote economic growth and good governance in Central America. U.S. President Donald Trump said in a message on Twitter that new tariffs on Mexican goods would be "indefinitely suspended." Against widespread opposition in Congress and Wall Street, Trump had threatened to impose tariffs of 5 percent starting June 10 and 25 percent in October, saying that Mexico needed to do more to curb migration flows from Central America to the United States. "I think Mexico has to step up. And if they don’t, tariffs will go on," Trump said June 5 during a joint press briefing with Ireland's Prime Minister. "And if they go high, the co...
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Japan’s Abe Promotes Indo-Pacific Strategy in Trade Talks
29May By Patti MohrNo Comments
Diplomacy, Global Economics, Global Trade, Globalization, Global Disintegration, Types of News: Brief

Japan’s Abe Promotes Indo-Pacific Strategy in Trade Talks

May 29, 2019--As the U.S.-Japan continued a dialogue over trade between their two nations over the weekend, Japan Prime Minister Shinzo Abe put the talks with U.S. President Donald Trump in the context of a wider free-trade agenda for the region. Specifically, Abe emphasized an Indo-Pacific strategy, which would engage the United States in stronger economic ties with the region. "In today’s summit meeting, we welcomed the steady progress of U.S.-Japan cooperation, looking toward the creation of free and open Indo-Pacific, including the areas such as energy, digital, and infrastructure," Abe said at a joint press conference with Trump in Tokyo on Monday. "Going forward, we will walk hand in hand and promote the cooperation for the realization of this common vision of our two nation...
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U.S. Puts Global Companies Doing Business in Cuba on Notice
4Mar By Patti MohrNo Comments
Communism, Dictatorship, Global Trade, Types of News: Brief

U.S. Puts Global Companies Doing Business in Cuba on Notice

March 4, 2019-In an effort to increase pressure on the Cuban government to stop its support for embattled Venezuelan President Nicolás Maduro and end human rights abuses within its own country, the U.S. State Department announced plans to allow U.S. lawsuits against Cuban entities accused of confiscating private property following the 1959 Cuban revolution. "We should remember that after Fidel Castro seized power, he confiscated private property of thousands of private individuals and companies without any compensation," a senior State Department official said. "And to date, there’s really been no justice for this theft." The list of restricted Cuban entities of restricted entities in Cuba at risk of lawsuits includes government ministries, hotels, stores, holding companies, marinas ...
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British Prime Minister Survives Leadership Challenge Amid Brexit Uncertainty
12Dec By Patti MohrNo Comments
Domestic Politics, Global Trade, Globalization, Global Disintegration, Types of News: Brief

British Prime Minister Survives Leadership Challenge Amid Brexit Uncertainty

Dec. 12, 2018-British Prime Minister Theresa May survived a leadership challenge by members of her party today on a vote of 200-117. The 117 members of the conservative Tory party support Brexit -- the divorce of the United Kingdom from the European Union, but they oppose the deal she negotiated with EU representatives. Ms. May is scheduled to travel Brussels again tomorrow to discuss a path forward. She said she would seek legal and political assurances from the European Council over unresolved questions over the Ireland-Northern Ireland border--the only land border the United Kingdom has with the EU. Britain has until the end of March to agree to a framework for its separation from the EU before a 21-month transition period begins.
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Britain, Ireland in Turmoil As Brexit Vote Cancelled
11Dec By Patti MohrNo Comments
Domestic Politics, Global Trade, Globalization, Global Disintegration, Political Systems, Domestic Politics, Types of News: Analysis

Britain, Ireland in Turmoil As Brexit Vote Cancelled

Dec. 11, 2018-A day after British Prime Minister announced she would not submit her Brexit deal to the parliament today as planned, both the draft plan she negotiated and her own political future face a potential end. May said the agreement her government negotiated with the European Union would have been rejected by the parliament had it gone to a vote. That leaves few options for Britain: schedule another parliamentary vote on the current deal, have a messy no-deal exit from European Union treaties and governance structures, or hold another U.K. referendum on whether to leave. Border and Money May said the deal would honor the result of the 2016 referendum that called for leaving the European Union. "We will take back control of our borders, by putting an end to the free m...
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U.S.-China Head Off Trade War
3Dec By Patti MohrNo Comments
Global Trade, Types of News: Brief

U.S.-China Head Off Trade War

Dec. 3, 2018-Meeting in in Buenos Aires, Argentina on the sidelines of the G20 summit over the weekend, Chinese President Xi Jinping and U.S. President Donald Trump agreed prevent a pending hike in tariffs scheduled to take effect in less than a month. It was their first formal face-to-face meeting since Trump visited China in November of 2017. "It’s an incredible deal," Trump said to reporters on Dec. 2 on Air Force One. "It goes down, certainly — if it happens, it goes down as one of the largest deals ever made.... And what I’d be doing is holding back on tariffs. China will be opening up. China will be getting rid of tariffs." Timeout on Tariff Hikes In effect, the agreement gives U.S.-Chinese negotiators 90 days to complete talks on the following trade issues: forced techn...
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Canada, Mexico & U.S. Leaders Sign New Trade Deal
30Nov By Patti MohrNo Comments
Global Trade, Types of News: Brief

Canada, Mexico & U.S. Leaders Sign New Trade Deal

Nov. 30, 2018--The presidents of Canada, Mexico and the United States signed a new trade agreement governing trillions of dollars of North American trade. Meeting in Buenos Aires, Argentina ahead of today's G20 meeting, Canadian Prime Minister Justin Trudeau, U.S. President Donald Trump and Mexican President Enrique Pena Nieto signed the treaty. The legislatures each country still need to approve it before it takes effect. NAFTA Becomes USMCA The U.S.-Mexico-Canada Agreement succeeds the North American Free Trade Agreement. USMCA covers agriculture, intellectual property, digital trade and financial services. It includes environmental safeguards against unregulated fishing and in trafficking in wildlife and timber and labor rights, such as worker representation in collective bargai...
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Global Exchange Bars Iranian Banks in Wake of U.S. Sanctions
13Nov By Patti MohrNo Comments
Global Trade, Sanctions, Types of News: Brief

Global Exchange Bars Iranian Banks in Wake of U.S. Sanctions

Nov. 13, 2018--U.S. sanctions against Iran are beginning to hit the banking sector, making international exchange difficult for Iran and its trading partners. Over the weekend, a global messaging system needed for international trade cut Iranian banks off from its exchange. Without access, Iranian traders cannot conduct business abroad using with bank-to-bank money transfers. As the ban takes effect, international transactions with Iranian banks and traders may come to a halt. Furthermore, the impact on banking transactions brings diplomatic rifts between the United States and the European Union to the surface. SWIFT's Hard Hit The Brussels-based SWIFT system started disconnecting some Iranian banks from its network over the weekend. A SWIFT statement reported by Reuters called the...
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New U.S. Sanctions Against Iran Go Into Effect
5Nov By Patti MohrNo Comments
Energy Policy, Oil & Gas, Global Trade, Sanctions, Types of News: Brief

New U.S. Sanctions Against Iran Go Into Effect

Nov. 5, 2018--Six months after pulling out of the six-party nuclear deal, the United States has launched new sanctions against Iran, impacting its banks, shipping industry, businesses and individuals. The sanctions block assets and transactions on over 900 targets, many of them newly named. "They'll be the toughest sanctions ever placed against the Islamic Republic of Iran," U.S. Secretary of State Mike Pompeo said on Sunday in an interview with CBS News. The sanctions mean that companies doing business with both the U.S. and Iranian firms will have to make a choice: Pick a side. You cannot do business with both countries. According to Pompeo, some business leaders quit conducting business in Iran based on the U.S. decision to withdraw from the six-party nuclear deal. "European co...
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U.S. Firms Sold Saudi Arabia $139 Billion of Weapons in Last 10 Years
31Oct By Patti MohrNo Comments
Arms Sales, Military Industry, Geopolitics, Types of News: Brief

U.S. Firms Sold Saudi Arabia $139 Billion of Weapons in Last 10 Years

October 31, 2018-U.S. defense companies sold the Kingdom of Saudi Arabia nearly $139 billion of military equipment and defense services over the last 10 years. That's more than the $110 billion in sales projected for the next 10 years. International arms sales to the kingdom are coming under greater scrutiny in the aftermath of the killing of journalist Jamal Khashoggi by Saudi Arabian officials in Istanbul, Turkey on Oct. 2. Last week, the European Parliament passed a resolution urging member states to ban arm sales to Saudi Arabia. Some U.S. lawmakers, like Sen. Rand Paul, R-Ky., are urging colleagues to to do same. Ongoing Arms Sales The highest grossing year of sales to the Saudi military for U.S. defense companies was 2010 with $60.9 billion of sales. Sales include Chinook, Apache ...
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