Tuesday, December 24

Global Trade

U.S.: Top Economic Adviser to Trump Resigns on Brink of New Tariffs
7Mar By Patti MohrNo Comments
Global Trade, Types of News: Brief, United States

U.S.: Top Economic Adviser to Trump Resigns on Brink of New Tariffs

March 7--A top White House economic advised resigned yesterday, reportedly over a disagreement about a recent decision by President Donald Trump to impose tariffs on steel and aluminum. Gary Cohn, held the position of the director of the National Economic Council since Trump took office January 20, 2017. Cohn is a 25-year veteran on Wall Street and is the former chief operating officer at Goldman Sachs. His departure from the White House is one of several recent staff changes. Six Trump administration officials resigned in 2018 and several more, including Trump's son-in-law Jared Kushner, face difficulties with their U.S. security clearances. Trump's spokesperson Sarah Sanders brushed aside reporters' concerns about the staff changes in her March 7 press briefing. "This is an inte...
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‘Real Risk’ of Escalating Global Trade Barriers, Says WTO Head
6Mar By Patti MohrNo Comments
Global Trade, Types of News: Brief

‘Real Risk’ of Escalating Global Trade Barriers, Says WTO Head

March 6--Increasing trade barriers puts the global economy at risk for a deep recession, World Trade Organization Director-General Roberto Azevêdo  warned on Monday. "In light of recent announcements on trade policy measures, it is clear that we now see a much higher and real risk of triggering an escalation of trade barriers across the globe," told delegate heads meeting on the Doha negotiations. "We cannot ignore this risk and I urge all parties to consider and reflect on this situation very carefully. Once we start down this path, it will be very difficult to reverse direction. An eye for an eye will leave us all blind and the world in deep recession." New U.S. Tariffs on Steel & Aluminum The remarks follow an announcement late last week by President Donald Trump that the Unite...
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A Tale of Two Koreas: Part I
6Feb By Patti MohrNo Comments
Communism, Dictatorship, Diplomacy, Global Economics, Global Trade, Types of News: Infographic

A Tale of Two Koreas: Part I

February 18, 2018--In a symbol of historic and familial ties, athletes from both North Korea and South Korea will march together in the Winter Olympics Opening Ceremonies in Pyeongchang, South Korea. The show of unity masks the extreme differences between the two countries. The two Koreas could not be more different in their national priorities, economies and quality of life. On the one side of the border, in South Korea, the quality of life is quite strong. The vast majority of the population has access to the best technologies and mobile communications. The economy is the 11th largest in the world, and trade with the rest of the world approaches $1 trillion. In contrast, in North Korea, the economy is one of the weakest and most isolated in the world. Trade in goods with the rest of ...
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China Outlines Goals for Arctic Trade Route & Development
29Jan By Patti MohrNo Comments
Energy Policy, Oil & Gas, Foreign Aid, International Development, Global Trade, Types of News: Brief

China Outlines Goals for Arctic Trade Route & Development

As global warming melts thick ice in the Arctic, countries are increasingly staking out economic claims in the region. China is no exception. This month, China outlined its vision for creating a new trade route through the region and for developing its resources. In a new 12-page White Paper, China called itself as an "important stakeholder" in the region. As Near-Arctic State and a permanent member of the UN Security Council, China "shoulders the important mission of jointly promoting peace and security in the Arctic," the paper said. It is a significant policy statement on navigating the delicate environmental and diplomatic interests in the Arctic waters. As the ice melts in the region, the potential for international disputes over shipping and natural resources rises. Governi...
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Global economic growth expanded in 2017
17Jan By Patti MohrNo Comments
Global Economics, Global Trade, Types of News: Brief

Global economic growth expanded in 2017

The global economy rebounded in 2017, rising to 3 percent up from 2.4 percent in 2016, as trade picked up momentum, advanced economies increased investments, and developing countries exported more commodities, the World Bank reported Jan. 9. The bank sees global growth edging up slightly to 3.1 percent in 2018 as developing countries experience greater growth while advanced economies begin to back off emergency monetary policies. These numbers differ from projections the International Monetary Fund made in October. The IMF predicted a 3.6 percent rise in the global economy in 2017 and 3.7 percent in 2018. A Turning Point The numbers suggest the global economy has recovered from the 2008-2009 global economic crisis. The World Bank predicts this year will "be the first year since ...
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China, France Strengthen Trade, Economic Ties
12Jan By Patti MohrNo Comments
Big Tech, Digital Economy, Diplomacy, Foreign Aid, International Development, Global Trade, Globalization, Global Disintegration, Types of News: Brief

China, France Strengthen Trade, Economic Ties

French President Emmanuel Macron wrapped up a three-day state visit to China this week, strengthening the European Union's economic ties to Asia. Macron and Chinese President Xi Jinping vowed to open their economies to trade and investment and strengthen the global economic governance system. It was Macron's first state visit to China since becoming president, and he pledged to return each year to foster face-to-face diplomacy. As a symbol of friendship, Macron gifted Chinese President Xi Jinping with a prized horse named Vésuve de Brekka, who had served the French Republican Guard. It was in the fashion of China's "panda diplomacy" of gifting its pandas to countries around the world, including France. Trade and Investment China is France's seventh largest export market. China acc...
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U.S. Congress Gives President Authority to Negotiate Trade Deals
24Jun By Patti MohrNo Comments
Global Trade, United States

U.S. Congress Gives President Authority to Negotiate Trade Deals

Not since 2007 has a U.S. president had authority to negotiate trade deals with other nations on behalf of the country. The authority, known as "fast-track" because it will allow the executive branch to hammer out the details of a trade deal and send the bill to Congress for an up-or-down vote, expired in 2007. Today President Obama achieved a major breakthrough in restoring that authority to the Executive branch. The Senate voted 60-38 on a bill to grant the president Trade Promotion Authority. The House voted 218-208 a week earlier. The bill faced major political and procedural hurdles in both branches of Congress. H.R. 2146 spells out trade priorities for the United States and establishes rules for Congress to consider trade agreements. Once President Obama signs the bill, he'll set ...
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ONE VIEW: Global Collaboration to Grow as Transport Decreases
1May By Patti MohrNo Comments
Global Economics, Global Trade

ONE VIEW: Global Collaboration to Grow as Transport Decreases

In a Wall Street Journal article "The Future of Global Trade," Atlantic Council Chairman Jon Huntsman predicts radical changes ahead for the way the world does business. They include more complex global governance, automation of high-tech work and greater cross-border collaboration on ideas. A few of his points: Long-distance trade in manufacturing and agriculture will decline due to the rise of 3D and 4D printing and urban farming, which localize production. Meanwhile, international cooperation in the free flow of ideas will increase, making regulation, ownership of ideas and governing more difficult. The New Development Bank and the Asian Infrastructure Investment Bank may gain more influence over global trade, lessening the role of the World Trade Organization as arbiter and ...
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Foreign Policy: Disagreements on Dealing with Iran
6Mar By Patti MohrNo Comments
Energy Policy, Oil & Gas, Global Trade, Sanctions, Types of News: Analysis

Foreign Policy: Disagreements on Dealing with Iran

In a bold and unprecedented act, the Republican-led Congress hosted an address by Israeli Prime Minister Benjamin Netanyahu in which he urged Washington to back away from talks with Iran on nuclear proliferation and keep sanctions in place. The speech by the Israeli Prime Minister was unprecedented because it used the institution of the U.S. Congress to undermine diplomatic negotiations of the White House. The United States is one of six countries—the other five countries are China, France, Germany, Russia, and the United Kingdom—negotiating with Iran to freeze its nuclear program in exchange for relief from sanctions. The talks face a checkpoint deadline at the end of this month. Although some diplomats have expressed progress in the effort to halt Iran's nuclear weapons program, Netany...
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