Global Trade Archives

Latin American Politics Reshuffles After Russia Starts War In Europe

5Apr

By Ernesto RodriguezNo Comments

Diplomacy and International Law, Global Trade, Globalization, Disintegration, Nationalism, Populism, Types of News: Analysis

Latin American Politics Reshuffles After Russia Starts War In Europe

April 5, 2022—It's still surprising how much of a wrench Russia threw into world politics when its leader in the Kremlin decided to invade Ukraine. While the effects in Europe, China, and the United States are front-page news on a daily basis, it seems like people are ignoring just how much the political game changed in Latin America. For one, it changed how we perceive certain governments in terms of their alignment. Chile's Gabriel Boric and Colombia's Iván Duque clearly condemned the Russian invasion of a free state. They also voted with 139 other countries to condemn Russia's aggressive actions. Argentina also voted with the majority of the world's countries. However, Argentina's Vicente Fernández defended Putin's invasion side-by-side with Brazil's Bolsonaro. Interestingly, jus...

Biden Takes More Economic Actions Against Russia

11Mar

By Patti MohrNo Comments

Global Trade, Globalization, Disintegration, Nationalism, Populism, Sanctions, Types of News: Brief

Biden Takes More Economic Actions Against Russia

De-Globalization Continues As Congress Targets Most-Favored Trade Status March 11, 2022—U.S. President Joe Biden announced additional economic and trade measures today that further divide U.S.-Russian business relations. Specifically, Biden said he is working with Congress to deny Russia its most-favored-nation trade status, which gives its goods preferential treatment. Congressional Trade Bills Hill lawmakers have introduced bills in the House and Senate, H.R. 6835, S. 3717 and S. 3722, to withdraw the Permanent Normal Trade Relations with Russia. It's fair to say the bills have bipartisan support in the U.S. Congress. Rep. Lloyd Doggett, D-Texas, a high-ranking member of the tax committee, is the lead sponsor of one of the bills. "Russia must be denied the benefit of the ...

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...

EU Backs Lithuania Against China Trade Restrictions

2Feb

By Patti MohrNo Comments

Diplomacy and International Law, Global Trade, Legal Battles, International Law, Justice, 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...

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 ...

UN Peacekeepers Under Investigation for Trafficking Diamonds And Gold

8Nov

By Patti MohrNo Comments

Corruption, Bribes, Illicit Finance & Money Laundering, Critical Minerals, Organizations, IMF, WTO, G7, UN Security Council, Types of News: Brief

UN Peacekeepers Under Investigation for Trafficking Diamonds And Gold

File photo: UN peacekeepers in the Central African Republic. Source: UN November 8, 2021--Over 300 Portuguese police and military officers are investigating reports that elite Portuguese troops taking part in a UN peacekeeping mission in the Central African Republic may have engaged in the illegal trafficking of diamonds, gold, and drugs. Officers issued 10 arrest warrants and raided properties in Lisbon, Funchal, Bragança, Porto de Mós, Entroncamento, Setúbal, Beja and Faro, The Guardian and other news outlets reported on Monday. “What we are looking into now is the possibility that some soldiers taking part in the national detached force in CAR were used as couriers in the trafficking of diamonds, gold and drugs,” the army said in a statement. According to reporting by The G...

U.S. Government Adds Four Spyware Companies To Trade Blacklist

4Nov

By Patti MohrNo Comments

Global Trade, Human rights, Types of News: Analysis, Types of News: Brief

U.S. Government Adds Four Spyware Companies To Trade Blacklist

Israeli Spyware Firm NSO Group Named On Commerce Department's Prohibited List November 4, 2021—In a move meant to put human rights at the center of U.S. foreign policy, the U.S. Commerce Department announced yesterday it is adding four companies to a list of companies subject to trade restrictions. The four companies include Israel-based Candiru and the NSO Group, a Singapore-based company called the Computer Security Initiative Consultancy PTE (COSEINC), and Russia's Positive Technologies. In effect, the decision puts the companies on trade blacklist that imposes extra licensing requirements. Specifically, companies on the Entity List under Export Administration Regulations face limited availability of most license exceptions for, exports, reexports, and transfers (in-country) to...

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, UN Security Council, 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...

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

11Aug

By Patti MohrNo Comments

Domestic Politics, Global Trade, 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...

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...