Thursday, July 10

Global Trade

Tenuous US-China Trade Talks
14Oct By Patti MohrNo Comments
Global Trade, Types of News: Brief

Tenuous US-China Trade Talks

October 14, 2019--High-level trade talks between U.S. and Chinese leaders last week produced some results but left the possibility for higher tariffs open in December if details are not settled. "We have a great deal. We're papering it now," U.S. President Donald Trump said on Saturday. "China is going to keep their word. They want to make the deal." China's chief negotiator signaled modest support. "We have made substantial progress in many fields," Vice Premier Liu He said through an interpreter on Friday. "We are happy about it." The partial deal, which is not yet settled, comes at a time when trade between the two countries has fallen. According to a report today in the Financial Times, China's imports from the United States fell 26.4 percent in September while its exports t...
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EU-UK Talks Intensify Ahead of Oct. 31 Brexit
11Oct By Patti MohrNo Comments
Diplomacy, Global Trade, Types of News: Brief

EU-UK Talks Intensify Ahead of Oct. 31 Brexit

October 11, 2019--With less than three weeks to go before the United Kingdom exits the European Union without a plan to trade with the rest of Europe, new hope for a deal emerged on Friday as the chief negotiator for the European Commission indicated that talks are intensifying "in a constructive spirit." "We are intensifying technical discussions with the United Kingdom over the coming days, in a constructive spirit," Michel Barnier, the European Commission's Chief Negotiator, said today on Twitter. Earlier in the week, Barnier suggested that an agreement would be "difficult, but still possible." EU Position: No Hard Border in Ireland The European Union would only support a withdrawal agreement if it "avoids a hard border on the island of Ireland, protects the all-island eco...
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WTO Deals Blow to U.S. Case Against China’s State-Subsidized Pricing
18Jul By Patti MohrNo Comments
Communism, Dictatorship, Global Trade, Types of News: Brief

WTO Deals Blow to U.S. Case Against China’s State-Subsidized Pricing

July 18, 2019-- The world's litigation body for trade disputes dealt a new blow to a multiyear effort by U.S. representatives to counteract pricing impacted by state-owned enterprises. The decision impacts a wide range of products, including solar panels and aluminum. More striking, it weighs in on the mounting tension in the global economy between competing economic systems. What: This Week's Action Late Tuesday, a World Trade Organization appellate body upheld a decision by a lower panel regarding U.S. tariffs on a series of mostly industrial products imported from China that U.S. officials believe to be subsidized and under priced. Products impacted include solar panels, wind towers, steel cylinders and sinks, kitchen shelving, lawn groomers, aluminum extrusions and a serie...
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U.S., India Must ‘Try Harder’ to Negotiate Trade Tensions, India’s Top Diplomat Says
26Jun By Patti MohrNo Comments
Diplomacy, Global Trade, Sanctions, Types of News: Brief

U.S., India Must ‘Try Harder’ to Negotiate Trade Tensions, India’s Top Diplomat Says

June 26, 2019--Despite a growing economic relationship between the United States and India, high-level meetings today between the nations' top diplomats reveal strained relations due to a tougher trade environment and differing diplomatic views on U.S. sanctions against Iran and Russia. Ahead of this week's G20 meeting in Japan and amid growing tensions with Iran, U.S. Secretary of State Mike Pompeo traveled to India and the Middle East this week to garner support. In India, Pompeo met with Prime Minister Narendra Modi and Minister of External Affairs Subrahmanyam Jaishankar. While economic relations between the two countries are growing, it appears that geopolitical differences are also rising. 'Try Harder' on Trade Relations Trade between India and the United States on goo...
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Remittances Keep Venezuelans Afloat Amid Economic Crisis
21Jun By Patti MohrNo Comments
Global Economics, Global Trade, Types of News: Brief, Types of News: Videos

Remittances Keep Venezuelans Afloat Amid Economic Crisis

June 21, 2019-Money transfers into Venezuela from friends and family living abroad are primary means of survival for those left behind in the dire circumstances of economic collapse, according to economic data and on-the-ground reporting by The Indigo Traveller. Economic Snapshot of Venezuela Since 2014, the Venezuelan economy has been in free fall. In terms of economic size, its GDP shrunk from $324 billion in 2015 to $76 billion (projected) for this year. It started shrinking in 2014 with a decline of nearly 4 percent. The past two years, the economy decreased by more than 15 percent a year. Meanwhile, inflation has skyrocketed -- by 10 million percent projected for this year alone. That leaves residents dealing with food shortages, blackouts, unemployment, health issues...
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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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