Posts filed under 'Free Trade Agreements'
USITC LAUNCHES NEW INVESTIGATIONS ON POSSIBLE MODIFICATIONS TO THE NAFTA RULES OF ORIGIN
The United States International Trade Commission (USITC) is seeking input for two newly initiated investigations concerning proposed modifications of the North American Free Trade Agreement (NAFTA) rules of origin.
The investigations, Certain Textile Articles Containing Rayon and Other Manmade Fibers: Effect of Modifications of NAFTA Rules of Origin for Goods of Canada and Mexico, and Certain Textile Articles Containing Acrylic and Modacrylic Fibers: Effect of Modifications of NAFTA Rules of Origin for Goods of Canada, result from a request by the U.S. Trade Representative (USTR) in a letter received on July 30, 2009.
As requested, the USITC, an independent, nonpartisan, factfinding federal agency, will provide advice on the probable effect of proposed NAFTA rules of origin modifications on U.S. trade and on domestic producers of the affected yarns and fabrics. Details on the products covered by the investigation can be obtained from the attachment to the request letter, which can be found on the USITC Internet site at http://www.usitc.gov/research_and_analysis/ongoing/certain_textile_nafta_roo.pdf.
The USITC expects to submit its advice to the USTR by November 30, 2009.
Further information on the scope of these investigations, the proposed rules of origin modifications, and the procedures for written submissions is available in the USITC’s notices of investigation, dated August 17, 2009, which can be downloaded from the USITC Internet site (www.usitc.gov) or by contacting the Secretary at the above address.
August 18, 2009
Obama Administration Completes 2008 Annual Review of the Generalized System of Preferences
Washington, D.C. – Ambassador Ron Kirk announced today the outcome of the Obama Administration’s 2008 Annual Review under the Generalized System of Preferences (GSP) program. The GSP Program, in 2008, facilitated $31.7 billion in imports of nearly 5,000 types of products from 131 developing countries.
In keeping with GSP’s goal to advance economic development, the Administration will issue waivers that will prevent 112 exports from 16 beneficiary countries, with a 2008 trade value of $290 million, from being excluded from the program because they exceed statutory import ceilings. The Administration is also expanding the program by adding two agricultural products to the list of products eligible for GSP duty-free export into the United States from all beneficiary countries. In addition, as a result of their success under the GSP program, the Administration has also determined that 12 products from six beneficiary countries are now sufficiently competitive in the U.S. market to no longer need GSP treatment.
The Administration conducts an annual review of the countries covered under the GSP program and products that are eligible for duty-free treatment under the program. The statute includes commercial thresholds and waiver provisions regarding imports of products. Interested parties also file petitions seeking changes in the treatment of countries and products.
In announcing these changes, Ambassador Kirk stated, “Expanded trade with the world’s developing countries is critical to boosting their growth, reducing income inequality, and providing people with hope for the future. The GSP program is an important step in helping to revive global trade and restoring our sense of faith in international commerce to help improve lives at home and abroad.”
July 9, 2009
Donohue’s Bogotá Speech Calls for Continued Action on Colombia Trade Agreement
U.S. Chamber President Says Burden Rests on Congress
Bogotá, Colombia-In a speech today before the Colombian-American Chamber of Commerce in Bogotá, U.S. Chamber of Commerce President and CEO Thomas J. Donohue applauded Colombia as a vital trading partner and urged its political and business leaders to continue to press the U.S. Congress for action on the U.S.-Colombia Trade Promotion Agreement.
“Let me be very clear – the burden now rests on the Congress of the United States, on the government of the United States and on the people of the United States to pass this agreement,” Donohue said. “Every day of delay hurts American workers, hurts American companies, hurts American farmers – and it hurts Colombia too.”
Referencing the success of previous trade agreements, Donohue urged business leaders in Colombia to press the U.S. Congress for action on the agreement through increased lobbying visits to Washington. He also warned them to prepare for the baseless verbal attacks that their country will face as the agreement moves forward.
“Despite many distractions, let’s keep our eyes on the prize,” he said. “Do the hard work of getting ready, educating members of Congress about Colombia, and building support for the agreement.”
While in Colombia, Donohue met with President Álvaro Uribe and U.S. Ambassador William Brownfield. Beyond the trade agreement, he highlighted the Chamber’s support for an expedited, global economic recovery by supporting extraordinary action from Congress and the Federal Reserve, fighting protectionism and strengthening intellectual property protection.
Source: U.S. Chamber of Commerce, Western Hemisphere, Press Release, June 1, 2009
June 3, 2009
Understanding the Trade Policies of the New U.S. Administration
FT. MITCHELL, Fri. May 15 – According to the U.S. Chamber of Commerce, Kentucky businesses added more than $22 billion to the local economy in 2005 by purchasing local goods and exporting manufactured merchandise to customers worldwide. However, recent administration changes relating to International Trade Policies have the potential of impacting this activity.
Speaker and author Les Glick, Porter, Wright and Morris, Washington D.C. and Ms. Ying Juan Rogers, Vice President, Kentucky World Trade Center highlights the affects of the changes Wed. May 21, 8 a.m. at the Newport Syndicate as part of the Northern Kentucky International Trade Association (NKITA) seminar, “Understanding the New U.S. Administration Trade Policies.”
“More than 90 percent of market potential is outside the United States and businesses are trying to keep up with a growing global competition,” explained Sylvia Dwertman, chair of NKITA, a program of the Northern Kentucky Chamber of Commerce.
In fact, more than one third of the Chamber’s members are engaged in international trade including large corporations with subsidiaries overseas and the small e-commerce business selling U.S. products to foreign buyers.
“We also have a large number of foreign investments that employ regional workers and pay taxes in the United States,” said Daniele S. Longo, vice president for Business Development and International Trade. “This seminar will help them understand how changes made at the federal level affect them.”
The event, sponsored by PNC Bank and DHL Express is supported by the European-American Chamber of Commerce, the Greater Cincinnati Chinese Chamber of Commerce, the Hispanic Chamber of Commerce, the International Business Center and the Kentucky World Trade Center. Admission is $15 for Northern Kentucky Chamber Members and Partners; $25 for Future Members. Register online, www.nkychamber.com.
More information about this program is available by contacting Daniele S. Longo, (859) 578-6385.
May 19, 2009
Green Light for Free Trade Negotiations with Canada
The European Commission will lead negotiations for a new economic and free trade agreement between the EU and Canada, which would go beyond current WTO commitments and reinforce the already strong bilateral trade and investment relationship.
“The decision today sends a signal that the European Union remains committed to trade and open markets at a time of economic crisis and rising protectionist sentiment,” said EU Trade Commissioner Catherine Ashton on April 27.
Last year, trade in goods and services between the EU and Canada exceeded 70 billion euros and the total stock of investment stood at over 260 billion euros. Negotiations are expected to be launched at the EU-Canada Summit in Prague on May 6.
May 5, 2009
MEXICO RETALIATION: NAFTA TRUCKING DISPUTE
On Monday, March 16, Mexico announced it would retaliate against the United States for the cancellation of the Cross-Border Trucking Demonstration Program. The list of 89 products was published on Wednesday, March 18, 2009 and effective the next day.
Background: Under the NAFTA, the United States and Mexico agreed to phase-out restrictions on cross-border passenger and cargo services. In 1995, however, the United States announced it would not lift restrictions on Mexican trucks. In 2001, a NAFTA dispute settlement panel found the U.S. restrictions to be in breach of its NAFTA obligations (International Trade Administration, U.S. Department of Commerce).
March 30, 2009
A tentative free trade deal for S. Korea and E.U.
HONG KONG: South Korea and the European Union on Tuesday reached a tentative agreement to scrap tariffs on goods traded between them, a deal that, if ratified, would send a strong signal on free trade at a time of rising protectionist tendencies.
The Europe-South Korea deal would eliminate most tariffs within five years, facilitating bilateral trade that totaled nearly $100 billion in 2008 (B. Wassener, Herald Tribune, March 24, 2009).
March 25, 2009
2009 Trade Policy Agenda and 2008 annual Report
THE PRESIDENT’S TRADE AGENDA: MAKING TRADE WORK FOR AMERICAN FAMILIES
President Obama has charted a course for economic recovery that will restore growth and promote broadbased prosperity. It will emphasize improvements in the living standards of American families while reorienting our economy to meet today’s challenges – energy, the environment, and global competitiveness.
March 6, 2009
U.S. and Iceland Sign Trade and Investment Agreement
Assistant U.S. Trade Representative for Europe and the Middle East Chris Wilson and Icelandic Minister of Industry and Energy Össur Skarpheðinsson met in Reykjavik, Iceland, where they signed the U.S.-Iceland Trade and Investment Cooperation Forum Agreement. Two-way goods trade between the United States and Iceland was $835 million in 2007. U.S. goods (exports to Iceland in 2007 totaled $630 million, including aircraft, inorganic chemicals, vehicles, and machinery. U.S. exports of agricultural products to Iceland totaled $19 million. Read full agreement
January 29, 2009
Preventable Job Cuts
Economy: No one has pleaded as earnestly for Congress to pass a Colombia free-trade pact as Caterpillar. Now, with earnings down and 20,000 American jobs to be lost, it’s obvious why. Trade would have cushioned this blow (Investor’s Business Daily, January 26, 2009). Read Full Article
January 28, 2009
PHOTO ALBUM
