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☆ As Biden and Xi meet, Asian manufacturing slowdown returns to a 2020 low, led by a softer China
▼ + stars: | 2023-11-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

The GEP Global Supply Chain Volatility Index, produced by S&P Global and GEP, tracks supply chain orders which show rising spare supplier capacity as a result of a pullback in global demand. As President Biden meets with Chinese President Xi Jinping in San Francisco, the Asian manufacturing sector is experiencing a slowdown not seen since the 2020 peak of the Covid pandemic. The GEP index shows a depressed level of demand for raw materials, components, and commodities since manufacturing orders are down. A negative meeting would signal that firms may need to act faster to get in front of an evolving and changing U.S.-China relationship by adjusting their supply chain strategies." The NRF continues to call on the Biden Administration to restart a dialogue with China about the tariffs and ultimately remove them.

Persons: Biden, Xi Jinping, John Piatek, Piatek, Xi, Jon Gold Organizations: P, GEP's, International Monetary Fund, CNBC, Chain Survey, GEP, U.S, Biden, China, National Retail Federation, Biden Administration Locations: U.S, San Francisco, China, North America

"We are seeing some early Black Friday sales start just now," Barbie maker Mattel's (MAT.O) president and chief commercial officer, Steve Totzke, told Reuters on Monday. "The market for toys has been declining for the whole year," said Florian Sieber, CEO of German toy maker Simba. "We are expecting a good holiday season for Mattel," Totzke said. "We expect to continue to gain share throughout the holiday season." "But it's a reality that there won't be as many toys sold this year as last year."

Persons: Peter Nicholls, Larian, Santa Claus, Barbie, Loo, Isaac Larian, Toymakers, Nic Aldridge, Aldridge, Mattel's, Steve Totzke, Florian Sieber, Simba, Sieber, Totzke, Frédérique Tutt, Jerry Storch, Richa Naidu, Matt Scuffham Organizations: REUTERS, Hasbro, Mattel, Consumers, Euromonitor, MGA Entertainment, Toymakers Hasbro, Reuters, Bandai, P, Global, Storch Advisors, Hudson's, Thomson Locations: London, Britain, Europe, Santa, United States, Loo Wee, U.S

☆ Paraguay's beef likely won't boost tight US supplies, importers say
▼ + stars: | 2023-11-13 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

[1/2] Employees cut fresh beef meat into small pieces at the First Capitol Meat Processing plant in Corydon, Indiana U.S. January 31, 2022. "There's typically now a pretty big race to get product in under that quota," Sothmann said. The U.S. Department of Agriculture forecasts total U.S. beef and veal imports at about 1.6 million metric tons this year. Paraguay may eventually ship 3,250 to 6,500 metric tons annually, or 5% to 10% of the tariff-rate-quota for the countries without individual agreements, the USDA said. Analysts expect Paraguay to compete with producers like Brazil to supply lean beef that is blended with fattier U.S. supplies.

Persons: Amira Karaoud, Stephen Sothmann, Sothmann, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Import Council of America, Suppliers, U.S . Department of Agriculture, U.S, Thomson Locations: Corydon , Indiana, Paraguay, U.S, Brazil, Ireland, Japan, Namibia

☆ US reduces beef exports as cattle herd shrinks, squeezing Tyson Foods
▼ + stars: | 2023-11-10 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

The decline in cattle numbers, after years of drought fried pasture lands used for grazing, led to soaring U.S. beef prices. Higher prices incentivize companies to import cheaper beef and discourage U.S. beef purchases by buyers like China, Japan and Egypt. For Tyson, the loss of U.S. export business compounds margin pressure from higher cattle prices, Goldman Sachs analysts said. U.S. beef exports typically command higher margins than domestic shipments, they said. The USDA on Thursday raised its forecasts for beef imports in 2023 and 2024 in a monthly report.

Persons: Amira Karaoud, world's, Tyson, Cargill, Pete Bonds, Bonds, Goldman Sachs, Donnie King, Katelyn McCullock, McCullock, Derrell, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Tyson, U.S . Department of Agriculture, USDA, U.S ., U.S, Marketing, Center, Oklahoma State University, Thomson Locations: Corydon , Indiana, United States, China, Japan, Egypt, Texas, U.S, Tyson's, Florida, South Carolina, Australia, New Zealand, Paraguay, Paraguayan, Mexico

A delay in the new mine's ramp-up would add to the growing stresses on the zinc raw materials supply chain. Low prices have resulted in a lengthening list of mine curtailments in recent months, resulting in falling smelter treatment terms and a rising refined zinc price. London Metal Exchange three-month zinc pricePRICE CASUALTIESThe LME zinc price hit a three-year low of $2,215 per metric ton in May, triggering a string of mine closures. By the end of September analysts at Macquarie Bank had already totted up closures totalling 300,000 metric tons of annual zinc capacity. It is designed to churn out around 345,000 metric tons a year of contained zinc, making it the single largest addition to zinc mine supply in 2024.

Persons: Ilya Naymushin, Boliden, Price, it's, David Evans Organizations: REUTERS, London Metal Exchange, Metals, Aeris Resources, Macquarie Bank, Fastmarkets, Study, Thomson, Reuters Locations: Angara, Novoangars, Russia, Swedish, Ireland, Queensland, Western Australia, Portugal, Mexico, Tennessee

☆ China's imports unexpectedly grow in Oct, exports extend declines
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Exports shrank 6.4% from a year earlier in October, customs data showed on Tuesday, faster than a 6.2% decline in September and worse than a 3.3% fall expected in a Reuters poll. The bad exports data may hit market confidence as we had expected the supply chain of exports to recover," said Zhou Hao, economist at Guotai Junan International. "The significant improvement in imports may come from rising domestic demand, in particular a demand to replenish stocks." However, in a sign trade is finding some footing, South Korean exports to China fell at their slowest pace in 13 months in October. China's manufacturing activity unexpectedly contracted in October, data showed last week, complicating policymakers' efforts to revive growth.

Persons: Zhou Hao, Joe Cash, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, Imports, Guotai, Analysts, Thomson Locations: Qingdao, Shandong province, China, Rights BEIJING, North American, Korean

☆ Chinese leaders defend state of economy at global finance summit in Hong Kong
▼ + stars: | 2023-11-07 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Senior Chinese officials have defended the state of the world’s second largest economy at a conference in Hong Kong, telling global financiers not to worry about prospects in China despite an uneven recovery and ailing property market. “Since the beginning of the year, China’s economy has been picking up in general,” He said Tuesday at the Global Financial Leaders’ Investment Summit, which was organized by the Hong Kong Monetary Authority, the city’s de facto central bank. “Global investors have some concerns about China’s economy, including the pace of economic recovery, problems with property markets, and local government debt. “The potential of the Chinese economy remains promising,” he told the audience, which included the heads of Goldman Sachs, Citi and Morgan Stanley. A discussion on China at the Global Financial Leaders' Investment Summit in Hong Kong on Tuesday.

Persons: Lifeng, ”, Zhang Qingsong, ’ ”, “, Zhang, Goldman Sachs, Morgan Stanley, Peter Parks, ” Wang Jianjun, Wang Organizations: Hong Kong CNN — Senior, Global, ’ Investment, Hong Kong Monetary Authority, People’s Bank of China, “ Global, Citi, Monetary Fund, Global Financial, Investment, Getty, China Securities Regulatory Commission, Stock Connect Locations: China, Hong Kong, AFP

☆ Insight: US solar panel manufacturing boom threatened by cheap imports
▼ + stars: | 2023-11-03 | by ( Nichola Groom | ) www.reuters.com time to read: +7 min

[1/5] Solar panels from SunPower are installed on residential buildings at a model home display in the Eureka Grove neighborhood of Granite Bay, California, U.S., October 5, 2021. But global solar panel prices have collapsed due to a wave of new Asian production capacity in recent months, leading many in the U.S. solar industry to worry many of these proposed factories may be uneconomical. U.S. officials have repeatedly warned that over-reliance on Chinese clean energy technology could pose a security risk similar to Europe's historical dependence on Russian natural gas. A White House spokesperson did not respond to questions about recent market challenges facing domestic solar manufacturers, but said Biden's policies had generated a huge wave of investment and were revitalizing American manufacturing. Mike Carr, executive director of the Solar Energy Manufacturers for America trade group, said factories could be delayed, extending U.S. dependence on China.

Persons: Nathan Frandino, Joe Biden’s, ”, Edurne Zoco, Wood Mackenzie, Mike Carr, ” Carr, Brian Lynch, Jekyll, Hyde, Lynch, Danny O'Brien, Meyer Burger, Hari Achuthan, Richard Valdmanis, David Gregorio Our Organizations: REUTERS, P, U.S . International Trade Commission, Companies, Reuters, Energy, Solar Energy Manufacturers, America, Insights, U.S . Commerce Department, Solar Energy Industries Association, Convalt Energy, Treasury Department, Commerce Department, Thomson Locations: Eureka Grove, Granite Bay , California, U.S, Europe, China, United States, Malaysia, Thailand, Cambodia, Vietnam, India, Mexico, Hanwha, Colorado, Asia, New York, Maine

[1/2] Kenyan workers check clothes made for export at the United Aryan Export Processing Zone (EPZ) factory, operating under the U.S. African Growth and Opportunity Act (AGOA), in Ruaraka district of Nairobi, Kenya October 26, 2023. REUTERS/Thomas Mukoya Acquire Licensing RightsNov 1 (Reuters) - South Africa will host the annual African Growth and Opportunity Act (AGOA) Forum in Johannesburg from Nov 2-4 to discuss the United States' flagship trade programme for the continent. The African Growth and Opportunity Act is a U.S. trade initiative passed in 2000 under former President Bill Clinton to deepen trade ties with Sub-Saharan Africa and help African countries develop their economies. AGOA provides duty-free access to the U.S. market for most agricultural and manufactured products exported by eligible African countries. African countries are pushing for an early 10-year extension without changes in order to reassure businesses and investors who might have concerns over AGOA's future.

Persons: Thomas Mukoya, Bill Clinton, AGOA, Nellie Peyton, Joe Bavier, Alexander Smith Organizations: United Aryan, Processing, U.S ., REUTERS, WHO, AGOA, U.S . Trade, Thomson Locations: Ruaraka district, Nairobi, Kenya, South Africa, Johannesburg, United States, U.S, Saharan Africa, Ghana, Lesotho, Madagascar, Ethiopia, AGOA .

The decision by Saudi Arabia and Russia to extend the voluntary cuts drove up oil prices to over $90 a barrel in late September. Saudi crude exports to China rose to nearly 1.6 million bpd in September, up from 1.2 million bpd in August and 1.37 million bpd in July, Kpler data showed. U.S. CRUDE EXPORTS FALLAs the U.S. sees less crude imports, it has exported less oil to Europe. U.S. crude exports to Europe fell to 1.86 million bpd in September and 1.84 million bpd in August, from 2.01 million bpd in July, Kpler data showed. Tight supply led the premium for front-month Brent crude futures to rise to as much as $3.26 a barrel above the second month , the highest since 2022.

Persons: Lucy Nicholson, Matt Smith, Smith, refiners, Vortexa's Rohit Rathod, Adi Imsirovic, Brent, Stephanie Kelly, Alex Lawler, David Gregorio Our Organizations: Port, REUTERS, Brent, Organization of, Petroleum, Total U.S, Americas, Kpler, West, Surrey Clean Energy, CSIS, Midland, P, Insights, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, Saudi Arabia, Europe, Russia, Nigeria, Algeria, Saudi, China, Richmond , California, Los Angeles, Midland, Brent

☆ Breakingviews: Globalization woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Over the past seven decades, the world economy has grown 14-fold, powered by a 45-fold expansion in global trade, according to the World Trade Organization. World trade as a percentage of GDP peaked at 61% in 2008. The first is rising geopolitical tensions between the United States and China. The retrenchment is probably going to be gradual: global trade was still worth 57% of world GDP last year. For 2024, the WTO said growth in goods trade would pick up to 3.3%, virtually unchanged from its April estimate of 3.2%.

Persons: Chris Helgren, Joe Biden, Xi Jinping “, ”, Caroline Freund, Aaditya Mattoo, Alen Mulabdic, Michele Ruta, Ursula von der Leyen, it’s, Laura Alfaro, Davin Chor, Dario Perkins, GlobalData’s Perkins, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Warehouse Union, REUTERS, Reuters, World Trade Organization, Economic, Reuters Graphics Reuters, HK, Amperex Technology, European Central Bank, GlobalData, Lombard, Companies, Bureau of Labor Statistics, ECB, Thomson Locations: Vancouver , British Columbia, Canada, Netherlands, United States, China, Beijing, Washington, U.S, Taiwan, Mexico, Vietnam, People’s Republic, Latin America, Chile, Brazil, Ukraine, Geneva

☆ Globalisation woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

☆ China's exports and imports drop again in September
▼ + stars: | 2023-10-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

In U.S.-dollar terms, exports fell by 6.2% last month from a year ago. China's exports have fallen on a year-on-year basis every month this year starting in May. The last positive print for imports on a year-on-year basis was in September last year. For the first three quarters of the year, China's exports to the U.S. fell by 16.4%, while imports dropped by 6% during that time. The volume of China's cosmetics imports fell by 14.2% in the first three quarters compared to a year ago.

Organizations: Future Publishing, Getty, Imports, Reuters, European Union, CNBC, Association of Southeast, Nations, EU, U.S, Monetary Fund, Initiative Locations: Qingdao, Shandong province, BEIJING, China, U.S, Russia, Europe, Southeast Asia

HONG KONG (AP) — Asian markets slipped on Friday following a decline on Wall Street driven by mounting pressure from rising bond market yields. The Hang Seng in Hong Kong slipped 2.2% to 17,846.49 and the Shanghai Composite index fell 0.6% to 3,088.10. Japan’s Nikkei 225 index fell 0.6% to 32,315.99. On Thursday, the S&P 500 fell 0.6% to 4,349.61. The stock market has largely been taking its cues from the bond market recently.

Persons: Australia’s, Taiwan’s Taiex, Wells, Brent Organizations: National Bureau of Statistics, Japan’s Nikkei, Dow Jones, Nasdaq, Delta Air Lines, Ford Motor Co, United Auto Workers, Detroit, Treasury, Federal Reserve, Citigroup, JPMorgan Chase, UnitedHealth Group, New York Mercantile Exchange, U.S . Locations: HONG KONG, China, Hong Kong, Shanghai, South Korea, Bangkok, Louisville , Kentucky, Wells Fargo, Gaza

☆ Low weekly jobless claims, shrinking trade deficit boost US economic picture
▼ + stars: | 2023-10-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Trade balanceExports of goods and services increased 1.6% to $256.0 billion. Goods imports dropped 0.9% to $256.0 billion amid declines in imports of consumer and capital goods, potentially flagging softening domestic demand amid higher borrowing costs. Cell phones and other household goods accounted for the drop in consumer goods imports. The decrease in capital goods imports reflected declines in semiconductors and electric apparatus. Services imports increased $0.1 billion to $58.4 billion, supported by travel and other business services.

Persons: Andrew Kelly, Christopher Rupkey, Unadjusted, nonfarm payrolls, Oscar Munoz, Goldman Sachs, Veronica Clark, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, Federal Reserve, Labor Department, Reuters, Employers, Institute for Supply Management, United Auto Workers, UAW, Ford, General Motors, Chrysler, Treasury, Challenger, Labor, Securities, Commerce Department, Goods, Services, Citigroup, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Ohio, California

☆ Trade between Russia and China is booming so much that shipping containers are ‘piling up’
▼ + stars: | 2023-09-29 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +3 min

CNN —Shipping containers from China are “piling up” in Russia amid a surge of Chinese goods flowing into the country as trade soars, a new analysis has found. Russia has an extra 150,000 shipping containers that importers are scrambling to return to China, logistics platform Container xChange said in a report released Thursday, citing information provided by a customer. “There is significant cargo movement from China into Russia but very scarce movement back to China from Russia. Containers are piling up in Russia which means that the secondhand container prices are very low in Russia,” CEO Christian Roeloffs said in the report. The type of goods exchanged is contributing to the surplus of shipping containers in Russia, according to Container xChange.

Persons: Christian Roeloffs, Vladimir Putin, Xi Jinping Organizations: CNN — Shipping, xChange, Imports, Organization of, Petroleum, International Energy Agency Locations: China, Russia, Ukraine, United States, Moscow, West, Beijing, India, Asia

☆ How surging trade with China is boosting Russia’s war
▼ + stars: | 2023-09-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +15 min

Mikhail Tereshchenko | Afp | Getty ImagesThe defense ministries of China and Russia did not respond to CNBC's request for comment on the trade flows. Trade of 'dual-use' goods spikesTotal bilateral trade between Russia and China hit a record high of $190 billion in 2022, up 30% from 2021. Semiconductor sales to Russia from China and Hong Kong more than doubled in 2022 as Western sanctions took hold. Meantime, construction equipment has played an "underappreciated" but significant role in China's contribution to Russia's war efforts, having helped bolster its defenses against Ukraine's counteroffensive, Joseph Webster, senior fellow at the Atlantic Council, said. The findings add to the growing list of Chinese goods and companies reported to be supplying Russia's military, including state-owned enterprises.

Persons: Vladimir Putin's, Mark Cancian, Vladimir Putin, Xi Jinping, Mikhail Tereshchenko, Wang Yi, China's, Putin, Li Shangfu, —, Qilai Shen, Antonia Hmaidi, Cancian, they've, Hong Kong Retekess, Legittelecom, It's, Silva, Hmaidi, Joseph Webster, Webster, that's, Ramzan Kadyrov, Russia's Organizations: CNBC, for Strategic, International Studies, Kremlin, Afp, Getty, Ukraine's Defense Ministry, Ukrainian Armed Forces, Bank of Finland's Institute, Emerging, Semiconductor, CNBC CNBC, Federal, Service, SZ DJI Technology, Robotics, Iflight, SZ, Technology, Bloomberg, Rostov, R Technology, Beijing KRnatural International Trade Co, Mercator Institute for China Studies Defense, Industry, Hong, Mercator Institute for China Studies, Moscow, ImportGenius, Ukraine's, Atlantic Council, Atlantic, U.S, China Taly Aviation Technologies, China Poly Technologies, EU, Beijing, National Security Council Locations: Ukraine, China, Washington, Russian, Moscow, Russia, Beijing, U.S, Kyiv, Hong Kong, Shenzhen, DJI, Liaoning, Shanghai, Berlin, Buryatia, Hubei, Korea, Pyongyang, Russia's, Amur, Chechen Republic, Qianwan, Qingdao Port, Shandong Province, deniability

REUTERS/Florence Lo/Illustration/File photo Acquire Licensing RightsLONDON, Sept 27 (Reuters) - China's appetite for base metal imports appears to be growing. FROM RUSSIA WITH LOVEChina's imports of primary aluminium surged to a near two-year high of 153,000 metric tons in August, bringing the year-to-date count to 755,000 metric tons. SLOW COPPER BOAT TO SHANGHAIRefined copper imports were 340,000 metric tons in August, the highest monthly tally this year. The country's refined zinc trade has reverted to net imports this year but volumes remain modest by historical standards. SHIFTING THE NICKEL MIXThere has been no pick-up in China's imports of refined nickel.

Persons: Florence Lo, they've, They've, China's, David Holmes Organizations: REUTERS, Shanghai Futures Exchange, London Metal Exchange, LOVE, Malaysian, New, Democratic, China's CMOC, Reuters, Thomson Locations: China, contango, Shanghai, RUSSIA, U.S, New Zealand, SHANGHAI, Democratic Republic of Congo, DRC, Indonesia

☆ Exclusive: China's Trina Solar plans $400 mln Vietnam plant after US sanctions - sources
▼ + stars: | 2023-09-27 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +3 min

Trina, one of the world's biggest solar panel makers by sales, would invest $400 million in the plant that would span 25 hectares of industrial land. Production is set to begin in 2025, one of the sources with direct knowledge of the plan said. Another person who was involved in discussions with the company said Trina had flagged $600 million in possible investment in Vietnam. Another source said Trina Vietnam's power supply problems were being considered as the company weighed options for its possible expansion. A heatwave in June hit the output of hydropower, Vietnam's second biggest source of electricity, forcing factories to temporarily suspend production due to power cuts.

Persons: Trina, Trina Solar, FENG SHUI, Feng shui, Francesco Guarascio @fraguarascio, Phuong Nguyen, Miyoung Kim Organizations: Reuters, U.S . Department of Commerce, P Global Market Intelligence, Thomson Locations: Vietnam, Thailand, HANOI, United States, Southeast Asia, U.S, Beijing, Washington . China

☆ US adds three Chinese companies to forced labor entity list involving Uyghurs
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Sept 26 (Reuters) - The United States has added three Chinese companies to the forced labor entity list involving Uyghurs, according to a government posting on Tuesday, as part of an effort to eliminate forced labor practices the U.S. supply chain. The action targets Xinjiang Tianmian Foundation Textile Co, Ltd; Xinjiang Tianshan Wool Textile Co. Ltd, and Xinjiang Zhongtai Group Co. Ltd, according to the post. A 2021 law, the Uyghur Forced Labor Prevention Act Entity List (UFLPA), prohibits U.S. imports that are either produced in Xinjiang or by companies identified on the list, unless the importer can prove the goods were not produced with forced labor. The list identifies entities working with the government of the Xinjiang Uyghur Autonomous Region to recruit and transport Uyghurs, Kazakhs, Kyrgyz, or members of other persecuted groups out of the region. U.S. officials believe Chinese authorities have established labor camps for Uyghurs and other Muslim minority groups in Xinjiang, China.

Persons: Doina Chiacu, Karen Freifeld, Susan Heavey Organizations: United, Foundation Textile Co, Wool, Co ., Xinjiang Zhongtai, Labor, U.S, Thomson Locations: United States, Xinjiang, Xinjiang Uyghur Autonomous Region, U.S, China, Beijing

☆ Biden's IRA Drives Surge in US Imports of Chinese Used Cooking Oil
▼ + stars: | 2023-09-22 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

By Andrew HayleyBEIJING (Reuters) - U.S. incentives to boost consumption of more environmentally friendly fuel has created a new market for used Chinese cooking oil, worth almost $390 million in the last 12 months and growing rapidly, China's customs data shows. In the first eight months of 2023, Chinese exports of used cooking oil (UCO) to the U.S. totalled almost 384,000 metric tons, customs data shows. Used cooking oil can be refined into fuels such as biodiesel and SAF, which can be blended with conventional fuels to reduce carbon emissions. State-run Chinese oil majors Sinopec and PetroChina, which are among those shipping UCO cargoes to the U.S., according to Kpler, did not respond to requests for comment. Used cooking oil can be one-third the price of fresh vegetable oil, and has lower carbon intensity than non-waste feedstocks such as palm or canola oil.

Persons: Andrew Hayley BEIJING, Biden, Kpler, Sophie Byron, Global's Byron, Andrew Hayley, Stephanie Kelly, Christian Schmollinger Organizations: U.S, SAF, P, Argonne National Laboratory, U.S . Department of Agriculture, Exports, European Commission, European Union Locations: China, U.S, California, Argonne, U.S . China, Europe, Germany

☆ Mexico must address US' 'serious concerns' over energy measures, USTR says
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jose Luis Gonzalez/File Photo Acquire Licensing RightsMEXICO CITY, Sept 21 (Reuters) - A U.S. trade official stressed Mexico's need to address "serious concerns" from the United States of its energy measures, which were raised during consultations under a regional trade pact, the U.S. Trade Representative's (USTR) office said on Thursday. Deputy Trade Representative Jayme White, who met with his Mexican counterpart Alejandro Encinas in Mexico on Wednesday, urged Mexico to address its energy measures which the U.S. says unfairly discriminate against its companies, the USTR said in a statement. The U.S. and Canada demanded dispute settlement talks with Mexico under the United States-Mexico-Canada (USMCA) trade agreement over Mexico's energy policy in July 2022. White also expressed concerns over the "recent surge" in U.S. imports of certain steel and aluminum products from Mexico, the USTR said, and the "lack of transparency" regarding their country of origin. White and Encinas additionally discussed ongoing USMCA consultations regarding Mexico's enforcement of fisheries-related environmental laws, the USTR said.

Persons: Jose Luis Gonzalez, Jayme White, Alejandro Encinas, White, Encinas, Kylie Madry, Valentine Hilaire, Richard Chang Organizations: Ciudad Juarez, REUTERS, U.S . Trade, Reuters, Thomson Locations: Paso del Norte, El Paso, Ciudad Juarez, Mexico, MEXICO, U.S, United States, Canada

Three producers listed in the customs data confirmed to Reuters they had shipped coal from the two regions to Turkey during that period. Reuters was unable to find any information in customs data about deliveries of coal produced in the DNR to Turkey or other countries in 2022. Customs data shows Nedra-06 made two shipments of coal to Turkey totalling 1,600 tonnes in May and June. The buyers were Belize-based Brig Management LTD and Green Rabbit LTD of Hong Kong, the customs data showed. Coal bought at Russian ports by Brig Management LTD and Green Rabbit LTD was taken to Turkey, the data showed.

Persons: Vitaliy Khotsenko, Adzhmal, Vostokugol, Anton Nadeyev, Nadeyev, I'm, Denis Karashchuk, Karashchuk, Filipp Lebedev, Gleb Stolyarov, Humeyra Pamuk, Tom Balmforth, Julia Payne, Jose Sanchez, Mike Collett, White, Daniel Flynn Organizations: NATO, Reuters, European, British Virgin Islands, Donetsk People's Republic, Russia's Ministry of Energy, Federal Customs Service, Luhansk People's Republics, European Union, United, Ukraine, U.S . State Department, UN, Assembly, Florance, Management, Hong, Brig Management, Rabbit, Belize Companies, Corporate Affairs, Green Rabbit, Coal, Toksabay, Thomson Locations: Ukraine, Turkey Ankara, Russia, Turkey, Donetsk, Luhansk, United States, European Union, Moscow . Washington, Moscow, Ankara, Ukrainian, Hong Kong, UAE, Belize, British Virgin, East, Africa, Russian, Rostov, Novorossiisk, Turkey . U.S, Antratsyt, Yasynuvata, Tbilisi, Washington, Kyiv, Brussels

Three producers listed in the customs data confirmed to Reuters they had shipped coal from the two regions to Turkey during that period. Turkey, a major coal consumer and importer, is bucking the global trend by increasing coal's share in electricity generation. Customs data shows Nedra-06 made two shipments of coal to Turkey totalling 1,600 tonnes in May and June. The buyers were Belize-based Brig Management LTD and Green Rabbit LTD of Hong Kong, the customs data showed. Coal bought at Russian ports by Brig Management LTD and Green Rabbit LTD was taken to Turkey, the data showed.

Other countries that Vietnam has extended this designation to include China and Russia. Giving the U.S. the same status suggests that Vietnam wants to hedge its friendships as U.S. and European companies are looking for alternatives to Chinese factories. “We find ourselves in a situation where all of these changes around the world are taking place,” Biden explained about the Vietnam trip last month. "We have an opportunity, if we’re smart, to change the dynamic.”Political Cartoons View All 1148 ImagesU.S. trade with Vietnam has already accelerated since 2019. “I’ve gotten a call from the head of Vietnam, desperately wants to meet me when I go to the G20,” Biden said.

Persons: Joe Biden, Biden, they’re, Xi, ” Biden, Gina Raimondo, Raimondo, ” Raimondo, IPEF, Jake Sullivan, Lê Hoài Trung, Trung, Sullivan, Nguyễn Phú Trọng, I’ve, “, Gregory Poling, ” Poling, Poling, ” Organizations: DELHI, United, U.S, Group, Census, Peterson Institute of International Economics, White House, Biden, Communist Party of Vietnam, Southeast Asia Program, Asia Maritime, Center for Strategic, International Studies Locations: Vietnam, United States, China, Asia, Russia, Salt Lake City, India, Cambodia, Malaysia, Indonesia, U.S, Washington, Helsinki, Maine, Beijing, “

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