June 2010
19 posts
Top US aides say serious concerns with China trade
Top U.S. officials told Congress on Wednesday they had serious concerns about Chinese trade policies that disadvantage American firms and would take strong action if necessary to defend U.S. rights.
In testimony prepared for the Senate Finance Committee, U.S. Trade Representative Ron Kirk and Commerce Secretary Gary Locke also said President Barack Obama’s administration would keep a...
US asks India to address 'longstanding...
WASHINGTON: The United States has asked India to address what it called “longstanding impediments” like investment caps, agricultural market access barriers and high tariffs as they work on accelerating their bilateral economic relationship.
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U.S. to keep eye on China trade
Trade Rep. Ron Kirk and Commerce Sec’y Gary Locke said the U.S. would watch Beijing’s efforts to let its currency rise and take steps to open China’s market if needed. Locke said Commerce may penalize China in a dispute over paper and aluminum products. The U.S. and others accuse China of keeping the yuan weak to give its exporters an unfair trade advantage.
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China trade barriers a serious concern: U.S. aides
(Reuters) - Top U.S. officials told Congress Wednesday they had serious concerns about Chinese trade policies that keep out American companies and would take strong action if necessary to pry open the market.
http://www.reuters.com/article/idUSTRE65M4KJ20100623?type=politicsNews
China's Double Standard Protectionism
Trade relations between the United States and the People’s Republic of China have been strained for many years. However, in recent months the contentious relations have bordered on becoming outright conflicts. This is not to say that the U.S. and China will take up arms at any point in the near future, but they are certainly lobbing “economic grenades” so to speak.
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Trade war? Bill would ban government from buying...
WASHINGTON — The US government would be barred from buying any Chinese goods or services under legislation unveiled Friday by US senators angry at Beijing’s policy of buying only from domestic sources.
http://rawstory.com/rs/2010/0618/trade-war-bill-ban-government-buying-chinese/
Trade Tensions With China Shadow G-20 Meeting
Anger toward the Chinese currency, trade and industrial policies and a steady increase in Congress, and increased the pressure on President Obama to take a tough stance with the Chinese counterparts at the meeting of the Group of 20 leaders next week in Toronto. On Wednesday, the Committee heard in the House of Representatives and the ways and means of business leaders concerned about the...
http://www.nytimes.com/2010/06/17/business/global/1...
WASHINGTON — Anger toward China’s currency, trade and industrial policies has been steadily mounting in Congress, adding pressure on President Obama to take a tough stance with his Chinese counterparts at the Group of 20 leaders’ meeting next week in Toronto.
http://www.nytimes.com/2010/06/17/business/global/17currency.html
Google helps build trade case over censorship
Google Inc is working with U.S. and European officials to build a case that would argue Internet censorship acts as a trade barrier, a top company executive said Friday.
Google shut down its mainland Chinese-language portal earlier this year over censorship concerns and a cyber attack it said it traced to China.
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Asia ready to redefine trade relations in talks
A pointed remark by a Singaporean official set the tone for a meeting of Asian financiers who gathered at the Federal Reserve Bank of San Francisco last week.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/06/13/BUOI1DT8PH.DTL&type=business
Farm and Food: Their lips are moving in trade...
The surest way to confirm if anyone in Washington, D.C. is telling you the truth about trade is to watch their lips: if they move, they’re stretching the blanket one way or the other.
http://journalstar.com/business/local/article_e667ded8-7571-11df-878d-001cc4c03286.html
U.S. under pressure in Asia-Pacific trade talks
(Reuters) - Trade negotiators from the United States, Vietnam and six other Asia Pacific nations meet in San Francisco this week for work on a free-trade agreement that U.S. trade officials say could transform the region.
http://www.reuters.com/article/idUSTRE65C0DT20100613?type=politicsNews
US Trade War With China Escalates On Steel Tariff...
The US International Trade Commission will put a 15.72% tariff on steel pipe imported from China. The ruling is based on a preliminary finding by the division of the Commerce Department. A final decision is due in August. If the investigation also finds that Chinese steel is being sold below its market value, the tariff will become permanent.
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EU and US gang up on China at WTO forum
The European Union and the United States have ganged up on China in a World Trade Organization (WTO) forum, claiming it was back-sliding on opening up its economy to international competition and ushering in restrictive measures.
Mr John Clarke, head of the EU delegation to the WTO, said China had an excess dependence on export-led growth, boosted by the low value of its currency, various...
US, EU Ink Deal to End Banana Dispute
The United States and the European Union have signed an agreement that should bring to a close their long-running dispute over trade in bananas, the Office of the US Trade Representative said on Tuesday. The announcement comes on the heels of a related pact that was signed by the EU and a group of Latin American countries last week.
http://ictsd.org/i/news/bridgesweekly/77673/
Taiwan, U.S. compare notes on trade issues in...
Sapporo, Japan, June 6 (CNA) Trade officials from Taiwan and the United States compared notes on bilateral trade issues here Sunday on the sidelines of a conference sponsored by the Asia Pacific Economic Cooperation (APEC) forum.
http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?ID=201006060013&Type=aECO
APEC trade ministers vow to press on with Doha
Japan (Reuters) - Trade ministers of the Asia-Pacific region agreed on Sunday to press on with stalled Doha talks on global trade and planned to relay the political momentum for this to a Group of 20 meeting later this month.
http://in.reuters.com/article/idINIndia-49080520100606
U.S. Statement at the WTO Trade Policy Review of...
Thank you, Mr. Chairman. The United States warmly welcomes China’s head of delegation, Vice Minister Yi, other representatives of China’s government, and, of course, Ambassador Sun. We appreciate the Report that your team prepared for this meeting. We also thank China for its responses to our written questions, which we will examine carefully. As always, we are grateful to the...
Tough Doha trade talks loom in political shadow
GENEVA (Reuters) – World Trade Organization members agree they must push on with difficult talks on a global trade deal, but November’s U.S. mid-term elections mean they are unlikely to bear fruit before next year.
The United States, ultimately the key to any pact, says that what is on the table after 8 years of talks on the Doha round is simply not compelling enough to attract support back...
May 2010
52 posts
Unfair trade practices are wiping out jobs
“It’s the trade deficit, Stupid.” Maybe if people walked around with signs and T-shirts with that slogan rather than rail against the federal budget deficit, the American worker wouldn’t be in quite the fix he’s in. More people need to be mad that America is a sucker when it comes to global trade. Our trading partners ignore the rules handicapping our industries,...
US, China pledge economic cooperation
BEIJING — The United States and China pledged closer cooperation on financial regulation and energy Tuesday but made no breakthroughs on currency exchange rates in a high-level dialogue overshadowed by Korean tensions.
China agreed to modify a policy on promoting domestic technology development that Washington and others complain might hamper trade. U.S. officials said they still have ...
Trade powers to push for Doha deal to boost...
PARIS, May 27 (Reuters) - Ministers from major trading powers decided on Thursday to redouble efforts for a deal in the stalled Doha round, arguing that opening up global trade would boost the world economy without hitting budgets.
They acknowledged the 8-1/2-year-old Doha round was at an impasse and that serious negotiations — away from the glare of the media and public diplomacy —...
US says current Doha trade package inadequate
PARIS, May 27 (Reuters) - The current draft deal to open up world trade in the Doha round is inadequate and Brazil, China and India must contribute more to reflect their enhanced global status, U.S. Trade Representative Ron Kirk said on Thursday.
http://www.forexyard.com/en/news/says-current-Doha-trade-package-inadequate-2010-05-27T115740Z-US
China Studies Cutting Steel Product Export Rebates...
May 26 (Bloomberg) — China, the world’s largest steel producer, is studying cutting export rebates for the metal as it faces increasing tariffs imposed by the U.S. and European Union.
“The government agencies, including the tax bureau, are studying this,” Wu Genping, an official at the customs office, said today at a conference in Kunshan. “Exports have risen...
U.S. trade chief urges China to lower trade...
Potential Chinese moves to lower trade barriers could be as important as exchange rate reforms in easing economic strains with the United States, Washington’s top trade negotiator said as the two powers entered a second day of talks.
Senior officials from the world’s biggest and third-biggest economies are in Beijing for a Strategic and Economic Dialogue (S&ED) intended to ...
U.S. trade chief urges China to lower trade...
BEIJING (Reuters) - Potential Chinese moves to lower trade barriers could be as important as exchange rate reforms in easing economic strains with the United States, Washington’s top trade negotiator said on Tuesday.
http://theusdaily.com/articles/viewarticle.jsp?id=1088587&type=home
Kirk Says U.S. Businesses ‘Plead’ for China to...
May 25 (Bloomberg) — U.S. Trade Representative Ron Kirk said he is hearing pleas from American businesses that he get China to honor their patents and copyrights and provide them the ability to compete for business in its economy.
Kirk, who is participating in the Security and Economic Dialogue in Beijing yesterday and today, said there will be “very severe” challenges as China’s...
China and U.S. each claim gains on yuan in talks
China will chart its own course on currency reform, top officials from Beijing and Washington said on Tuesday at the end of talks that both agreed had aired plenty of disputes while leaving any answers for later.
http://www.reuters.com/article/idUSTRE64M09Q20100525?feedType=RSS&feedName=topNews
Global Trade Tensions Growing, But Protectionism...
High-level U.S.-China trade talks begin in Beijing on Monday as worries about Europe’s debt crisis remind global leaders not to erect barriers that could disrupt the fledgling global recovery.
American officials will take issue with China’s “indigenous innovation policies” that some U.S. companies claim hinder market access. China will use the Strategic and Economic...
Marta Moszczenska: Cross-border trade depends on...
The numbers are in: More than 8 million U. S. jobs depend on trade with Canada, 517,028 of them in New York alone. If the U. S.-Canada border were closed today, 8 million Americans jobs would be negatively impacted.
The recession hurt millions of people in both Canada and the United States. Our mutual prosperity is greatly enhanced by strengthening our integrated economies and ensuring that...
U.S. goes to China to give exports a lift
More than 200 U.S. officials are flying to Beijing for meetings Monday and Tuesday to try to give American exports to China a lift, but observers are forecasting stormy weather ahead. On the surface, there’s reason for a sunny outlook. President Barack Obama wants to double U.S. exports over five years and China is a locomotive that can pull the global economy out of its deep recession.
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FACTBOX-U.S. trade complaints about China
http://www.reuters.com/article/idUSN1910649620100519
Clinton urges China for greater access for U.S....
U.S. Secretary of State Hillary Clinton pressed for greater commercial access for American businesses in China on Sunday, urging Beijing for a “level playing field.”
Clinton spoke to American and Chinese business executives in Shanghai, where she had finished touring the World Expo. She was headed to Beijing for two days of talks that will touch on a wide range of issues of...
A Weighty U.S.-China Dialogue
The next round of the U.S.-China Strategic and Economic Dialogue (S&ED), set for May 24-25 in Beijing, occurs at a time of global nuclear concerns, a security crisis in Northeast Asia, and concerns over the widening fallout from Europe’s financial troubles. The large U.S. delegation will include Secretary of State Hillary Clinton, Treasury Secretary Timothy Geithner, and Federal...
China and US interwoven economies
THE annual Strategic and Economic Dialogue between China and the US will be upcoming on May 24-25, and this time it will be attended by Obama administration officials at the highest level, including Secretary of State Hillary Clinton, Treasury Secretary Timothy Geithner, Commerce Secretary Gary Locke and US Trade Representative Ron Kirk.
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Pacific trade agreement could help Oklahoma...
The Obama administration wants small and medium-size businesses to weigh in on the proposed Trans-Pacific Partnership Agreement, said Everett Eissenstat, Assistant U.S. Trade Representative for the Americas.
http://newsok.com/article/3462802
US, EU irked by stalled Japan Post privatisation
TOKYO — Japanese, US and EU trade officials were due to meet in Geneva on Friday to discuss “level playing field concerns” about the sprawling Japan Post group, US officials said.
The centre-left government that took power in Japan last September has slammed the brakes on a plan by previous conservative leaders to privatise the group, which boasts massive banking and insurance...
World Trade Week
President Obama has proclaimed World Trade Week in the United States – a chance for Americans and our partners around the world to recognize the benefits that trade brings to all of us every day of the year. These benefits include more varied and more affordable goods and services for consumers. They also include better jobs and economic opportunity for workers and entrepreneurs.
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Turkish minister discusses improving trade...
Strategies to further improve bilateral trade and investment relations between Turkey and the United States topped the agenda of a meeting between Turkey’s state minister for foreign trade and a U.S. trade representative in Washington.
State Minister Zafer Çağlayan and U.S. Trade Representative Ron Kirk were accompanied by Turkish Ambassador to the United States Namık Tan and several other...
SHAPIRO: Blocking trade agreements stifles exports...
Earlier this year, President Obama set an ambitious goal of doubling the nation’s exports in five years as a way of creating 2 million American jobs. To get there, he called for passage of three pending free trade agreements with Panama, Colombia and South Korea, which have been stalled since the Bush years.
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FACTBOX-U.S. trade complaints about China
May 19 (Reuters) - U.S. lawmakers often blame Chinese currency practices for the large U.S. trade deficit with China. But a report released every March by the U.S. Trade Representative’s office contains a long list of Chinese barriers to U.S. exports and other irritants. Here are a number of concerns the United States wants China to fix, some of which Washington is likely to raise at the...
Geithner To Speak In Favor Of US Exporters In The...
According to an article on CNBC, Timothy Geithner, US Treasury Secretary, said yesterday that American exporters will get a level playing field from a stronger Chinese yuan. However, in his talks with Beijing next week, he has decided to focus primarily on reducing trade barriers. While giving a speech at the Port of Tacoma about growing US exports to China, Geithner expressed confidence that...
WTO Decides To Launch Panel For Korea-U.S. Duties...
GENEVA, May 19 (Bernama) — The World Trade Organisation (WTO) has decided to launch a panel to settle a dispute between South Korea and the United States over the U.S. method of determining anti-dumping duties on some steel products, the South Korean representative here said. In November last year, the Seoul government filed a petition with the World Trade Organization (WTO) to set up...
Locke sees 'win-win' future for China, US
UNITED States Commerce Secretary Gary Locke said in Shanghai yesterday that he expected more “win-win situations” in Sino-American bilateral investment involving green technology. “We should work together,” Locke said in a short speech delivered during a visit to the Shanghai Chengtou Corp.
http://www.shanghaidaily.com/sp/article/2010/201005/20100519/article_437442.htm
USA - Meat trade profits good
After some of the steepest profit declines in recent memory, meat producers are feeding at the trough again.
Profits are growing amid tight supplies, rising prices, lower feed costs and a modest uptick in demand.
U.S.-based operators plumping up again include Sanderson Farms (SAFM), Tyson Foods (TSN), Pilgrim’s Pride (PPC) and Smithfield Foods (SFD). As the economy comes back,...
Chinese solar panels will be restricted by the...
Chinese solar panels will be restricted by the U.S. tariffs Date Published: 14th May 2010
Recent news that China exports to the United States by the U.S. solar panels will reach 70 million U.S. dollars the maximum tariff “special care.”
http://www.howdoessolarenergywork.net/solar-energy/solar-energy-articles/chinese-solar-panels-will-be-restricted-by-the-u-s-tariffs
Turkish minister to visit US for more trade deals
The Turkish state minister for foreign trade will travel to the United States on May 18, his office said on Saturday.
Turkey’s State Minister Zafer Caglayan will pay a formal visit to the United States on May 18 and 20.
During his visit, Caglayan will launch the signature process of establishment of Turkish-U.S. Business Council foreseen to be founded within the framework of the...
China Agrees to Resume Pork Imports From U.S.,...
May 15 (Bloomberg) — China, the world’s largest producer and consumer of pork, has agreed to resume imports of U.S. pork produced on or after May 1, ending a ban imposed following the swine flu outbreak last year, according to a unit of the U.S. Department of Agriculture.
The USDA “is working with Chinese officials to adjust the product eligibility date to March 24, 2010 — the...
Washington Sees Profits, While China Needs...
U.S. Commerce Secretary Gary Locke begins an 11-day visit to China on Saturday with plans to explore profit opportunities for a delegation of clean-energy company executives accompanying him on the trip.
At the same time, the Chinese government and the public are eagerly expecting unwavering U.S. promises about free and unhindered bilateral trade relations.
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Research Report On Global Tire Industry,...
(CRI,Shanghai)- In the Asian tire market, the overall situation is boosted powerfully by Chinese and Indian markets though Japanese tire market showed a downturn trend at the end of 2008. In 2009, the auto sales volumes in Europe and USA declined compared with that in 2008. Nevertheless, with the growth of auto reserving volumes, the demand for replacement tires drives the growth of the whole...