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☆ The global trade system has already started planning for potential Trump win, new China tariffs
▼ + stars: | 2024-03-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

The Trump administration used delegated authorities under three trade laws to unilaterally levy tariffs without Congressional approval. The Trump administration tariffs kickstarted a shift in supply chain strategy which, according to Frank, became more well-developed by customers during Covid, when they contemplated moving factories and production out of China. He expects any increase in tariffs during a second Trump presidency to lead to a greater shift in trade from China to Mexico to avoid the tariffs. "If you charge tariffs to China, they're going to build ... their car plants here and they're going to employ our people," Trump said. S&P Global research shows that China's share of the imports of products covered by tariffs imposed by the Trump administration has dropped.

Persons: Donald Trump, Trump, Niki Frank, Frank, Beth Whited, they'd, Paul Brashier, Chris Rogers, Biden, Rogers, Jon Gold, John Taylor IV, Taylor, Peter Boockvar, Critics, it's, that's Organizations: United, Canada Trade, White, CNBC, Global, Trump, China, Biden, OF DHL, Union, Canadian Pacific, Canadian Pacific Kansas City, Union Pacific, ITS Logistics, P Global, Vietnam, National Retail Federation, Berlin Packaging, Trade, Bleakley Financial, ASEAN Locations: United States, Mexico, Canada, Washington , DC, U.S, OF DHL Asia, Long Beach , California, China, Union Pacific, Canadian Pacific Kansas, East, West, Vietnam, Malaysia, South Korea, CNBC Mexico, Europe, Thailand, Indonesia

☆ China, Xi Jinping Plan to Crush Elon Musk, Tesla, and the US EV Industry
▼ + stars: | 2024-02-25 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

If China EV Inc. were allowed to enter the US today or next year, the legacies would be gutted." The year Musk tittered at the idea of Chinese EVs overtaking Tesla, the country produced only 5,000 electric cars. It has more trade barrier protection from a China Auto Inc. onslaught, but it may not work forever. AdvertisementWe want to maintain an auto industry in the US — that's essential for jobs, national security, and for other sectors of the economy. Sure, Chinese EV makers are lean and mean, but they've never had to deal with international markets before.

Persons: Elon Musk, Warren Buffett, Le, haven't, carmakers, Jim Farley, Tesla, Xi, Andy Wong, Xi Jinping, Li Auto, BYD, Trump, Mary Lovely, Joe Biden's, Biden, it's, Lovely, they've Organizations: Tesla, Bloomberg TV, America's, GM, Ford, Sino, EV, China EV Inc, ascendance, Chery, US, Chinese Communist Party, CCP, Companies, SAIC, Energy Department, China Auto Inc, Peterson Institute, United Auto Workers, White, Auto Locations: Chinese, China, Beijing, Japan, Europe, North America, Brussels, Washington, Hungary, Mexico, Canada, America

WASHINGTON (AP) — For the first time in more than two decades, Mexico last year surpassed China as the leading source of goods imported to the United States. At the same time, the value of Chinese imports imports tumbled 20% to $427 billion. The last time that Mexican goods imported to the United States exceeded the value of China's imports was in 2002. The Trump administration began imposing tariffs on Chinese imports in 2018, arguing that Beijing's trade practices violated global trade rules. Supply-chain disruptions related to the COVID-19 pandemic also led U.S. companies to seek supplies closer to the United States ("near-shoring'').

Persons: Trump, Joe Biden, Biden, — Organizations: WASHINGTON, U.S . Commerce Department, Democrats, Canada Trade, United States Locations: Mexico, China, United States, Washington, Beijing, U.S, Canada, North America, United

☆ UK-Canada trade deal: UK pulls out of post-Brexit negotiations
▼ + stars: | 2024-01-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Britain is finding out just how hard it can be to negotiate free trade deals, even with close allies and friends. Goods and services have continued flowing between the two countries under the terms of the EU-Canada free trade deal. But Britain had sought to negotiate a new trade deal with Canada that would improve upon the terms of the existing agreement. A key sticking point in the negotiations has been Britain’s refusal to relax a ban on hormone-treated beef, which at the moment effectively bars Canadian farmers from selling to British consumers. We remain open to restarting talks with Canada in the future,” a UK government spokesperson said in a statement.

Persons: King Charles, Britain, ”, Mary Ng, “, David Henig, we’ll Organizations: London CNN, European Union, NATO, —, Britain, EU . Goods, EU, Canada, Centre for International Political, CNN, Reuters, National Farmers ’ Union, BBC, “ Locations: Canada, United Kingdom, Britain, Brussels, “, England, Wales, “ Canada

☆ Canada trade minister is postponing a planned trade mission to India
▼ + stars: | 2023-09-15 | by ( Steve Scherer | ) www.reuters.com time to read: +1 min

Canada's Minister of International Trade, Export Promotion, Small Business and Economic Development Mary Ng speaks at a Lunar New Year celebration in Ottawa, Ontario, Canada January 31, 2023. REUTERS/Blair Gable/File Photo Acquire Licensing RightsOTTAWA, Sept 15 (Reuters) - Canadian Trade Minister Mary Ng is postponing a trade mission to India planned for October, an official said on Friday, reflecting increasingly tense diplomatic relations just days after India's prime minister scolded his Canadian counterpart at a G20 summit in New Delhi. "At this time, we are postponing the upcoming trade mission to India," said Shanti Cosentino, a spokesperson for the minister, without giving a reason. Indian Prime Minister Narendra Modi, who held formal bilateral meetings with many world leaders during the G20 summit, snubbed Canadian Prime Minister Justin Trudeau, allowing only a short, informal meeting on the sidelines five days ago. Earlier on Friday, India said it had paused trade talks with Canada.

Persons: Mary Ng, Blair Gable, Shanti Cosentino, Narendra Modi, Justin Trudeau, Steve Scherer, Chris Reese, Matthew Lewis Organizations: of International Trade, Export, Small, Economic, REUTERS, Rights, Canadian Trade, Canadian, Thomson Locations: Ottawa , Ontario, Canada, India, New Delhi, Punjab, Ottawa

☆ US trade group blasts Canada for refusal to extend digital services tax freeze
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, July 13 (Reuters) - The U.S.-based National Foreign Trade Council on Thursday blasted Canada for its refusal to back a global agreement to hold off on implementing digital services taxes for at least another year, and said the move could invite retaliation. NFTC President Jake Colvin said he welcomed news from the OECD that most countries with digital services taxes had agreed to extend the moratorium on implementation. He also said the move would allow countries to keep working a global tax deal in good faith. "Canada joined Belarus, Russia and a small handful of others in not joining because they seem to want to move forward quickly with their digital services tax," Colvin said. Colvin said Washington could retaliate under the U.S.-Mexico-Canada trade agreement if Canada went ahead and implemented the new tax.

Persons: Jake Colvin, Colvin, We're, Chrystia Freeland, Washington, Katherine Tai, Mary Ng, Andrea Shalal, Anna Driver Organizations: Foreign Trade, OECD, Canadian Finance, U.S, . Trade, Canadian Trade, Thomson Locations: U.S, Canada, Belarus, Russia, Mexico, Pakistan, Sri Lanka

☆ Americans Along Canadian Border Fume Over Ottawa’s Housing Tax
▼ + stars: | 2023-04-28 | by ( Paul Vieira | ) www.wsj.com time to read: 1 min

Canada’s annual underused-home tax is set at 1% of the assessed value or most-recent sale price. Photo: Ben Nelms/Bloomberg NewsOTTAWA—Americans who own property and vacation homes in Canada are furious over Ottawa’s plan to tax real estate that is not occupied year-round. Some Americans are considering selling their Canadian property. One member of Congress, representing western New York state, is pushing the Biden administration to file a trade complaint under the terms of the U.S.-Mexico-Canada trade treaty, or at least to persuade Canada to carve out an exemption for Americans.

☆ Canada trade minister encourages 'intense collaboration' with transatlantic partners on green tech
▼ + stars: | 2023-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCanada trade minister encourages 'intense collaboration' with transatlantic partners on green techCanada Trade Minister Mary Ng discusses the international race to develop and deploy renewable energy technologies and says she hopes protectionism isn't here to stay when it comes to green subsidies.

☆ Canada trade minister says trade talks with Taiwan are part of a larger Indo-Pacific strategy
▼ + stars: | 2023-02-21 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Canada's decision to enter formal bilateral trade talks with Taiwan is part of a broader strategy for the Indo-Pacific region, its minister of international trade told CNBC Tuesday. The two sides agreed on Feb. 7 to begin formal negotiations on a trade agreement in order to strengthen trade and investment. Bilateral trade between Canada and Taiwan reached $5.82 billion in 2022, according to Taiwan's official statistics. Taiwan is Canada's 13th largest trading partner globally, and its 5th largest trading partner in Asia. Taiwan's exports to Canada amounted to $3.3 billion last year, and Canada exports to Taiwan amounted to $2.52 billion in the same period, according to that data.

☆ Canada Looks Poised to Pass Law on Forced Labor
▼ + stars: | 2023-01-17 | by ( Richard Vanderford | ) www.wsj.com time to read: +6 min

Canada could require that companies report on their efforts to stop goods made with forced labor from entering their supply chains, adding to momentum among Western governments to tackle the practice. Pending legislation would compel many companies to report on steps taken to prevent or reduce the use of forced labor in their supply chains by detailing, among other things, parts of the supply chains where forced labor might be occurring and the company’s due-diligence procedures. We are consuming products that contain forced labor.”With the passage of S-211, Canada would join several other Western governments in trying to stop businesses’ use of forced labor. Canada’s legislation would apply more broadly than, for example, France’s law, having an impact on some companies with as few as 250 employees. Photo: AssentCanada pledged in the United States-Mexico-Canada trade agreement, which became effective in 2020, to block the import of goods made with forced labor.

☆ Costa Rica seeks entry to North America trade pact
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

SAN JOSE, Dec 14 (Reuters) - Costa Rica has told the United States it is interested in joining the North American trade pact between the United States, Mexico and Canada, President Rodrigo Chaves said on Wednesday. Dodd said he had spoken with Chaves about opportunities to boost economic ties, but made no comment on a possible entry for Costa Rica into the North American trade pact. "We are evaluating opportunities," said Tovar, adding membership in the trade pact would give Costa Rica an "immense advantage" and add another strategic link to global supply chains. The United States is Costa Rica's largest trading partner, according to the U.S. State Department, accounting for 38% of Costa Rica's imports and 42% of exports. The Central American country has 10 bilateral and five multilateral trade agreements in force.

☆ Canada’s Justin Trudeau Defends Use of Emergency Powers Against ‘Freedom Convoy’ Protesters
▼ + stars: | 2022-11-25 | by ( Paul Vieira | ) www.wsj.com time to read: 1 min

Prime Minister Justin Trudeau, in Parliament Thursday, said he had grown impatient with local police’s inability to end the Ottawa protests. OTTAWA—Canadian Prime Minister Justin Trudeau said at a judicial inquiry Friday that he invoked extraordinary powers to end a weekslong protest earlier this year over Covid-19 mandates because local police lost control of the demonstration and key U.S.-Canada trade routes needed to remain open. The prime minister testified at the end of a 31-day inquiry that seeks to determine whether the Canadian leader was justified in invoking emergency powers last February to end the demonstrations. Canada’s emergency-power legislation automatically triggers an independent inquiry following the use of such powers.

☆ Biden names board to help end freight railroad and union contract disputes
▼ + stars: | 2022-07-18 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/4] A commercial freight train carries a load of shipping containers at the Port of Savannah, Georgia, U.S. October 17, 2021. REUTERS/Octavio JonesJuly 17 (Reuters) - U.S. President Joe Biden on Sunday named the members of an emergency board tasked with helping resolve disputes between freight rail carriers and their unions, the White House said. read moreBiden named Ira F. Jaffe to chair the presidential emergency board. If Biden had not created the board by Monday, railroads and unions could have opted for operational shutdowns or strikes, respectively. Talks between major freight railroads, including Union Pacific (UNP.N) and Berkshire Hathaway (BRKa.N)-owned BNSF, and unions representing their workers have dragged on for more than two years.

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