Global Trade Archives

State Department Tells Businesses: Stay Away From Xinjiang, China

13Jul

By Spencer HayesNo Comments

Communism, Dictatorship, authoritarian, Diplomacy and International Law, Global Trade, Human rights, Sanctions, Types of News: Analysis

State Department Tells Businesses: Stay Away From Xinjiang, China

July 14, 2021—The U.S. State Department and six other Cabinet departments warned Americans against doing business with any person or entity connected to China's Xinjiang Province. It comes a day after the State Department formally accused China along with four other countries and a terrorist network of committing genocide. In China, the reputed human rights abuse is taking place against the primarily Muslim Uyghur population as well as other minorities. A Warning On Business Relations U.S. Secretary of State Antony Blinken - By U.S. Department of State The departments of State, Commerce, Homeland Security, Justice, Labor, Treasury, and the Office of the U.S. Trade Representative warned Americans of the risks of breaking U.S. law for doing business with anyone connected ...

U.S. Court Rules in Favor of Importers Opposing Tariffs on Chinese Goods

7Jul

By Patti MohrNo Comments

Global Trade, Types of News: Brief

U.S. Court Rules in Favor of Importers Opposing Tariffs on Chinese Goods

July 7, 2021-In what may be the first of thousands of cases contending Trump-era tariffs on Chinese goods, a high-level U.S. court ruled on Tuesday in favor U.S. importers. According to attorneys for the U.S. businesses, the ruling is likely to impact more than 6,500 plaintiffs who have filed similar lawsuits. The Case Decided This Week A group of U.S. companies in the flooring and home-based consumer products argued that import tariffs on Chinese goods imposed "irreparable harm" on their businesses. The case, which is the first of 3,600 cases before the Court of International Trade, relates to the final collection of tariff duties, called "liquidation." Specifically, the court ruled that, "Liquidation, as the final computation of duties, will constitute irreparable harm unless an...

U.S. Bans Solar-Industry Product Made in Xinjiang, China Over Concerns of ‘Modern-Day Slavery’

5Jul

By Spencer HayesNo Comments

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

U.S. Bans Solar-Industry Product Made in Xinjiang, China Over Concerns of ‘Modern-Day Slavery’

July 5, 2021-- In the latest move to identify and prohibit products produced by "state-sponsored forced labor," the U.S. government banned imports of a material made in Xinjiang, China. The product, polysilicon, is a key component in the supply chain of solar panels. As a result of the ban, U.S. Customs officials must intercept imports of the product at U.S. ports. The decision is likely to have an impact not only on consumer and manufacture prices but also on foreign relations between the two countries. 'Modern-Day Slavery' Alejandro N. Mayorkas, U.S. Homeland Security Secretary, announced the order against Hoshine Silicon Industry in late June. The decision followed discussions among leaders from G7 countries about the use of forced labor global supply chains. It also comes on t...

Australia Asks WTO For Dispute-Talks Over Waning Wine Sales in China

29Jun

By Patti MohrNo Comments

Global Trade, Organizations, IMF, WTO, G7, UN Security Council, Types of News: Brief

Australia Asks WTO For Dispute-Talks Over Waning Wine Sales in China

June 29, 2021-Australia requested dispute consultations in the World Trade Organization with China this week over its wine imports. Specifically, Australia is challenging China's anti-dumping and countervailing measures on imports of Australian wine. The WTO is the world's largest body for settling trade disputes. Australian exports of wine are facing countervailing measures in China over trade disputes. Photo credit: Just Wines According to a Reuters news story published in the Spring, Australian wine exports from AU$325 million in the final quarter of 2019 to AU$12 million in December of 2020. The agreements cited are the WTO's Anti-Dumping Agreement, the Agreement on Subsidies and Countervailing Measures, and the General Agreement on Tariffs and Trade 1994. China-Australia Trad...

Britain Considers Joining Trans-Pacific Trade Deal

25Jun

By Patti MohrNo Comments

Global Trade, Types of News: Brief

Britain Considers Joining Trans-Pacific Trade Deal

June 25, 2021-The United Kingdom started talks this week to join one of the world's largest trade agreements. "The launch of negotiations marks a huge milestone in our accession process, and I look forward to talks starting in the coming weeks," Liz Truss, UK's International Trade Secretary, said. CPTPP: 11 Plus One The government announced the CPTPP talks on Tuesday with much fanfare. Japan's Yasutoshi Nishimura is leading the talks on behalf of the pact. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade pact with Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The 11 countries signed it in 2016 after years of negotiating. If Britain joins the 11-nation pact, the CPTPP would grow ...

22Mar

By Patti MohrNo Comments

Diplomacy and International Law, Domestic Politics, Global Trade, Sanctions, Types of News: Analysis

Kid Gloves Come Off At US-China Meeting

March 22, 2021--The kid-gloves came off at the first in-person meeting between the United States and China under the new U.S. administration. In a sign that tensions between the world's two largest economies are rising, the diplomats exchanged political punches from the beginning. They met first in front of cameras at the beginning of two-day strategic dialogue in Anchorage, Alaska. Typically, televised remarks might be a brief exchange of niceties. But , this exchange was anything but typical. It wasn't brief. And it wasn't polite. In fact, the opening remarks turned into an extended exchange of insults and condemnations between the countries' top diplomats. The United States launched the first blows. U.S. Cites Concerns on Hong Kong, Human Rights and Coercion U.S. Secr...

Biden Hosts ‘Quad’ Virtual Conference with India, Japan, Australia

12Mar

By Patti MohrNo Comments

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

Biden Hosts ‘Quad’ Virtual Conference with India, Japan, Australia

Quad Meeting Comes a Week After China Strengthens Ties with ASEAN March 12, 2021--In his first multilateral summit since taking office in January, U.S. President Joe Biden hosted a virtual conference today with the leaders of Japan, India and Australia. "The Quad is going to be a vital arena for cooperation in the Indo-Pacific," Biden said. "The United States is committed to working with you our partners and all our allies in the region to achieve stability." The talks, known formally as the “Quadrilateral Security Dialogue” since their start in 2007, are designed to strengthen diplomatic, military and economic ties among the members. While not an alliance, the informal dialogue provides a structure for the leaders to work together. During the opening statements, the leaders e...

Biden Orders Review of Supply Chain, Promises to Increase Domestic Production

27Feb

By Patti MohrNo Comments

Global Trade, Types of News: Brief, United States

Biden Orders Review of Supply Chain, Promises to Increase Domestic Production

Feb. 27, 2021--Since the beginning of the COVID-19 pandemic, businesses and consumers around the world have faced shortages of food, medical supplies and prescriptions, industrial parts, and consumer staples. Supply chain interruptions, manufacturing delays and export restrictions have all impacted the way the world trades its goods. Policymakers are taking note, and the United States is no exception. Executive Order on Supply Chains This week, President Joe Biden ordered an administration-wide review of supplies for multiple industries, including semiconductors, high-capacity batteries, critical minerals and materials, such as rare earth elements, and pharmaceuticals. "We shouldn’t have to rely on a foreign country — especially one that doesn’t share our interests or our v...

U.S. Cites Currency Manipulation As Source of Trade Subsidy in Twist-Tie Case

25Nov

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Global Trade, Types of News: Brief

U.S. Cites Currency Manipulation As Source of Trade Subsidy in Twist-Tie Case

November 25, 2020--For the first time in an investigation of a trade subsidy, the U.S. Commerce Department identified China's undervalued currency as a state subsidy warranting a financial penalty at the U.S. border. On Tuesday, the department announced it is asking the U.S. Customs and Border Control to begin collecting cash deposits at a rate of 122.5 percent from importers of Chinese twist ties. The rate reflects the total amount of subsidies U.S. officials estimate Chinese twist tie exporters receive from their government. Next Steps Commerce Secretary Wilbur Ross. said the department would "continue to use the legal tools at our disposal to aggressively counter currency undervaluation and other unfair subsidies, further ensuring a level playing field for American businesses a...

China’s Exports Rise, Adding to Economic Growth in 2020

8Nov

By Patti MohrNo Comments

Global Economics, Global Trade, Types of News: Brief

China’s Exports Rise, Adding to Economic Growth in 2020

November 8, 2020--China's foreign trade expanded 4.6 percent year-on-year in October, helping the country sustain economic growth for the year, despite the COVID-19 pandemic. Overall, China's foreign trade grew by 1.1 percent in the first 10 months of the year, according to official data the Chinese government released yesterday. With exports accounting for nearly a fifth of China's economy, the export growth helped lift China's GDP by 4.9 percent in the third quarter. Export Growth Jumps in October In response to the impact of the global pandemic, the government streamlined customs procedures and provided incentives for cross-border e-commerce. Mechanical and electrical parts accounted for the largest share of the country's exports. Textile exports, which include masks, incre...