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☆ September to remember or to forget? Here are things working for and against the stock market
▼ + stars: | 2023-09-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I never like higher rates at any end of the curve. At every benchmark, you will first hear that every bull market ends because of higher rates. We have done well in the stock market at 7% on the 20-year and well at half that. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Shawn Fain, Fain, He's, haven't, Tesla, —, Mike Wilsons, Mike Wilson, Morgan Stanley's, Here's, it's, there's, that's, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Companies, Federal Reserve, Big, ARM Holdings, Club, MarketEdge, United Auto Workers, UAW, Ford, ARM, American Free Trade, Netflix, Earth, Apple, Treasury, Fed, CNBC Locations: Mexico, United States, Canada

☆ US asks Mexico to review cargo airline pilots' rights
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

Aug 30 (Reuters) - The United States is asking Mexico to review whether the labor rights of pilots at a small cargo airline are being infringed, the eight such request Washington has made this year, U.S. officials said on Wednesday. Since the U.S.-Mexico-Canada Agreement (USMCA) on trade took effect in 2020, the office of the U.S. Trade Representative has now launched a total of 13 labor rights complaints against facilities in Mexico. The United States wants Mexico to probe if pilots at Mas Air, a Mexico City-based cargo airline, are being denied the right to freedom of association and collective bargaining. "Today's action highlights the United States is committed to safeguarding the labor rights enshrined in the USMCA across industries and sectors," Trade Representative Katherine Tai said in a statement. Mexico has 10 days to agree to conduct a review and, if it agrees, 45 days from Wednesday to complete the review.

Persons: Katherine Tai, Washington, David Ljunggren, Sandra Maler Organizations: U.S . Trade Representative, United, Mas Air, Thomson Locations: United States, Mexico, Washington, U.S, Canada, Mexico City

Analysts see this as an emerging new trend of trade regionalisation in the eastern and western hemispheres - each dominated by one of the superpower - that could pose risks to global growth. This "will likely contribute to increased regionalisation of international trade, which would raise inflation and hamper growth for other countries caught in the crossfire." China has also applied to join the Comprehensive Progressive Trans-Pacific Partnership, one of the world's largest free trade agreements. To join this Pacific trade axis, though, China needs the approval from all member countries, including U.S. allies. "And both of those countries value trade with the U.S. under their North American framework more than they value trade with China."

Persons: Gina Raimondo, Elizabeth Frantz, Neil Thomas, Donald Trump, Joe Biden, Raimondo, Trump, William Hurst, Joe Cash, Kripa Jayaram, Marius Zaharia, William Mallard Organizations: . Commerce, Capitol, REUTERS, Southeast Asia, Analysts, Asia Society Policy Institute, Higher, Census, Reuters, Canada Agreement, Comprehensive, Pacific, U.S, University of Cambridge, Thomson Locations: Washington , U.S, China, Washington, Canada, Mexico, Beijing, Southeast, decouple, U.S, Japan, South Korea, Australia, New Zealand, Pacific

☆ US seeks trade panel to resolve labor conflict at Mexican mine
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +3 min

The logo of mining and infrastructure firm Grupo Mexico is pictured at its headquarters in Mexico City, Mexico, August 8, 2017. In a statement, the Office of the U.S. Trade Representative (USTR) said it disagrees with the Mexican government's determination. "It is appropriate to request a panel to verify the facility's compliance with Mexican labor laws," the USTR said. Companies have closely watched U.S. labor complaints play out since the 2020 start of the USMCA, which replaced NAFTA. Reporting by Daina Beth Solomon in Mexico City and Paul Grant in Washington; Additional reporting by Brendan O'Boyle in Mexico City; Editing by Dan Whitcomb, Andy Sullivan & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Ginnette, Daina Beth Solomon, Paul Grant, Brendan O'Boyle, Dan Whitcomb, Andy Sullivan Organizations: Grupo, REUTERS, MEXICO CITY, U.S, Grupo Mexico's, U.S . Trade Representative, Companies, Miners, Grupo Mexico, Thomson Locations: Grupo Mexico, Mexico City, Mexico, WASHINGTON, MEXICO, Grupo Mexico's San Martin, United States, Canada, Mexican, San Martin, U.S, Washington

☆ Canada to challenge extension of US softwood lumber duties
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Finished lumber is seen at West Fraser Pacific Inland Resources sawmill in Smithers, British Columbia, Canada February 4, 2020. REUTERS/Jesse Winter/File Photo Acquire Licensing RightsOTTAWA, Aug 22 (Reuters) - Canada will challenge what Ottawa described as an "unfair, unjust and illegal" extension of U.S. import duties on Canadian softwood lumber products, the trade ministry said on Tuesday. The softwood lumber tariffs are the legacy of a decades-long trade dispute over the structure of Canada's timber sector that could not be resolved when a quota agreement expired in 2015. "For years, the United States has imposed unfair, unjust and illegal duties on Canadian softwood lumber, hurting Canadian industry and increasing housing costs in both countries," Trade Minister Mary Ng said in the statement. "We are prepared to discuss another softwood lumber agreement when Canada is ready to address the underlying issues related to subsidization and fair competition so that Canadian lumber imports do not injure the U.S. industry," a USTR spokesperson said in an emailed statement.

Persons: Jesse Winter, Mary Ng, Ismail Shakil, Susan Heavey, Devika Syamnath, Andy Sullivan Organizations: West Fraser Pacific Inland Resources, REUTERS, Rights OTTAWA, Ottawa, U.S . Commerce Department, Canada, Washington, Trade, United, U.S . Trade, Thomson Locations: West, Smithers , British Columbia, Canada, U.S, Mexico, United States, Ottawa, Bengaluru

☆ Mexico denies U.S. request to review labor concerns at Grupo Yazaki factory
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +1 min

Companies YAZAKI Corporation FollowMEXICO CITY, Aug 18 (Reuters) - Mexico said on Friday it has notified the United States that it will not carry out a requested review of labor rights concerns at Grupo Yazaki's auto components factory in Guanajuato. The U.S. Trade Representative said on Aug. 7 it had asked Mexico to see whether workers "are being denied the rights to freedom of association and collective bargaining" at the privately held company's facility, which makes electrical components for autos for Japan-based Yazaki Corp.Mexico's labor ministry and Federal Center for Conciliation and Labor Registration "determined that there is no substantial evidence of employer interference or denial of rights to freedom of association and collective bargaining by the company," the labor and economy ministries said in a joint statement. The rejection is one of the few times since the U.S.-Mexico-Canada Agreement went into effect in 2020 that Mexico has deemed a case ineligible for review under the pact, which has tougher rules than its NAFTA predecessor. Reporting by Brendan O'Boyle; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan O'Boyle, William Mallard Organizations: YAZAKI, MEXICO, Grupo, The U.S . Trade, Yazaki Corp, Federal Center for Conciliation, Thomson Locations: Mexico, United States, Guanajuato, The, Japan, U.S, Canada

☆ As companies bring more jobs to Mexico, US wants labor rights safeguards
▼ + stars: | 2023-07-03 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +3 min

MEXICO CITY, July 3 (Reuters) - The U.S. wants Mexico's government to build strong institutions to protect worker rights as companies aiming to avoid supply chain disruptions in far-off production spots bring more jobs to the country, a top U.S. labor official told Reuters. Mexico has begun to benefit from "nearshoring" in which companies seek to move production closer to the U.S. market while maintaining competitive costs. "Hopefully that will ensure that Mexico doesn't become a dumping ground for companies looking for cheap labor and lax regulations," said Thea Lee, U.S. Deputy Undersecretary for International Labor Affairs who polices USMCA compliance. Mexico has made progress improving labor courts, resolving worker complaints faster and easing union organization, but needs to do more, Lee said. Since 2020, several U.S. labor complaints in Mexico have paved the way for independent unions to land pay raises and even expand.

Persons: Thea Lee, Lee, Cristina Ramirez, Ramirez, Daina Beth Solomon, David Gregorio Our Organizations: MEXICO CITY, Reuters, International Labor Affairs, Goodyear, Grupo Mexico, VU Manufacturing, La Liga, VU, Thomson Locations: MEXICO, U.S, Mexico, Canada, Piedras Negras

MEXICO CITY, June 2 (Reuters) - Mexico said on Friday it would counter U.S. arguments over agriculture biotech measures, including plans to limit its use of genetically modified (GM) corn, in trade dispute settlement consultations requested by Washington earlier in the day. If the consultations fail to resolve disagreements within 75 days, Washington can request a dispute settlement panel to decide the case. The United States requested formal trade consultations in March over objections to Mexico's plans to limit imports of GM corn and other agricultural biotechnology products. The new decree eliminated a deadline to ban GM corn for animal feed and industrial use, by far the bulk of its $5 billion worth of U.S. corn imports, but maintained a ban on GM corn used in dough or tortillas. Some sector experts have expressed concern that the move could set a precedent among other countries, which would disrupt the global corn trade.

Persons: Andres Manuel Lopez Obrador, February's, Tom Haag, Cassandra Garrison, Adriana Barrera, Kylie Madry, Dave Graham, Ismail Shakil, Leslie Adler, William Mallard Organizations: MEXICO CITY, Washington, U.S, Trade Ministry, United, U.S . Trade, U.S ., Corn Growers Association, Thomson Locations: MEXICO, Mexico, Canada, U.S, Washington, United States, Mexican, Mexico City, Ottawa

MEXICO CITY, June 2 (Reuters) - The U.S. is escalating its conflict with Mexico over agriculture biotech measures, including the stance on genetically modified (GM) corn, by requesting dispute settlement consultations, senior officials of the U.S. Trade Representative's office said on Friday. If the consultations announced on Friday fail to resolve disagreements within 75 days, Washington can request a dispute settlement panel to decide the case. The United States requested formal trade consultations in March over objections to Mexico's plans to limit imports of GM corn and other agricultural biotechnology products. Earlier this week, Mexico's agriculture minister expressed confidence in an interview that the dispute with the U.S. would not escalate to a dispute settlement panel. The new decree eliminated the deadline to ban GM corn for animal feed and industrial use, by far the bulk of its $5 billion worth of U.S. corn imports, but maintained a ban on GM corn used in dough or tortillas.

Persons: Andres Manuel Lopez Obrador, Tom Vilsack, Tom Haag, Cassandra Garrison, Adriana Barrera, Ismail Shakil, Leslie Adler Organizations: MEXICO CITY, U.S . Trade, U.S, Trade Ministry, United, Economy Ministry, Agriculture, U.S ., Corn Growers Association, Thomson Locations: MEXICO, U.S, Mexico, Canada, Washington, United States, Mexico City, Ottawa

☆ US, Taiwan reach deal on first part of '21st Century' trade pact
▼ + stars: | 2023-05-19 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, May 18 (Reuters) - The U.S. and Taiwan reached agreement on the first part of their "21st Century" trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative's office said on Thursday. After the initial agreement of the U.S.-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies and practices, USTR said. "We look forward to continuing these negotiations and finalizing a robust and high-standard trade agreement that tackles 21st Century economic challenges," Tai said. Announcement of the trade pact comes just ahead of planned meetings between China's commerce minister, Wang Wenta, and USTR Tai and U.S. Commerce Secretary Gina Raimondo. The bilateral talks commenced last August, after the Biden administration excluded Taiwan from its larger pan-Asian trade initiative, the Indo-Pacific Economic Framework.

☆ U.S., Taiwan reach deal on first part of '21st Century' trade pact
▼ + stars: | 2023-05-18 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, May 18 (Reuters) - The U.S. and Taiwan reached agreement on the first part of their "21st Century" trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative's office said on Thursday. After the initial agreement of the U.S.-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises and non-market policies and practices, USTR said. "We look forward to continuing these negotiations and finalizing a robust and high-standard trade agreement that tackles 21st Century economic challenges," Tai said. Announcement of the trade pact comes just ahead of planned meetings between China's Commerce Minister Wang Wentao and USTR Tai and U.S. Commerce Secretary Gina Raimondo. The bilateral talks commenced last August, after the Biden administration excluded Taiwan from its larger pan-Asian trade initiative, the Indo-Pacific Economic Framework.

☆ 33 Democrats urge ban on investor-state dispute provisions in all US trade deals
▼ + stars: | 2023-05-03 | by ( David Lawder | ) www.reuters.com time to read: +3 min

REUTERS/Amanda Andrade-RhoadesWASHINGTON, May 3 (Reuters) - Democratic U.S. lawmakers on Wednesday urged the U.S. Trade Representative and State Department to eliminate investor-state dispute settlement provisions from current and future trade deals and to intervene on behalf of Honduras against a U.S. company's nearly $11 billion claim against the country. In a letter to Secretary of State Antony Blinken and Trade Representative Katherine Tai seen by Reuters, 33 lawmakers said that investor-state dispute settlement (ISDS) systems in trade deals constitute a "problematic corporate handout" that violates countries' sovereignty and democracy rights. The Democrats signing the letter said the case could require impoverished Honduras to pay billions of taxpayer dollars to a company that has "weaponized" the dispute settlement provisions. The dispute settlement provisions had been a way to protect U.S. firms from abrupt changes in trading partners' government policies by providing recourse through arbitration. The letter cited Georgetown University research tallying $27.8 billion in ISDS settlement orders against Latin American governments, with Argentina, Venezuela, Peru, Mexico and Ecuador the worst hit.

☆ Thousands of union contracts to dissolve in Mexico's fight against pro-company deals
▼ + stars: | 2023-05-03 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Mexico committed to eliminating these so-called "protection contracts" under the United States-Mexico-Canada Agreement (USMCA), a trade pact that replaced the 1994 NAFTA. "This is historic, because we finally managed to rid the labor market of pretend contracts and fake unions," Labor Minister Alcalde said in an interview. Since the vote process began four years ago, workers have cast ballots on some 20,000 contracts in sectors spanning autos, retail and mining. The Independent Mexico Labor Expert Board, a U.S. advisory committee, said in March the small number of rejected contracts "raises serious doubts about the credibility" of the process. Alcalde said she expects unions to aim to establish new contracts in place of ones that were canceled.

☆ Democrats warn large tech firms could evade competition policies under new trade rules
▼ + stars: | 2023-04-24 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

It's not the first time Democrats have raised concerns about tech provisions being included in trade agreements. The group urged Tai and Raimondo "not to put up for negotiation or discussion any digital trade text that conflicts" with the agenda set by the whole-of-government effort. "Big Tech wants to include an overly broad provision that would help large tech firms evade competition policies by claiming that such policies subject these firms to 'illegal trade discrimination,'" the Democrats wrote. "Tech companies could also weaponize these digital trade rules to undermine similar efforts by our trading partners." The letter cited a U.S. Chamber of Commerce blog post about a trade group coalition note advocating for strong digital trade provisions in the Indo-Pacific Economic Framework (IPEF).

☆ After growing GM corn for decades, some US farmers open to Mexican restrictions
▼ + stars: | 2023-04-06 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

"I'm all for free and fair trade," said Fred Huddlestun, who grows GM corn and soybeans in Yale, Illinois. Supporters of the policy say GM corn can contaminate Mexico's age-old native varieties and have questioned its impact on human health. NCGA said GM corn is safe and it will fight all illegal trade barriers for farmers. But many would consider growing more non-GM corn, if the price were right. "You need to make it worth my while," said Illinois farmer Dave Kestel, who grows GM corn and sells seed for Corteva.

☆ Trump boasted that he 'got rid of NATO' while president during a Fox News interview. (He meant NAFTA.)
▼ + stars: | 2023-03-29 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Donald Trump said he had gotten the US out of NATO as president, but meant NAFTA. Trump has repeatedly questioned US membership of NATO, but did not act on threats to withdraw. Trump, who is seeking election again in 2024, boasted about his achievements as president in an interview Tuesday with Fox News' Sean Hannity. Trump as president repeatedly criticised NATO, berating other members for not spending more on defense, and threatened to pull out of the treaty. Trump, since launching his 2024 bid, has sought to portray his likely opponent, President Joe Biden, as in cognitive decline.

Obrador's decision to roll back reforms aimed at opening Mexico's power and oil markets to outside competitors sparked the trade dispute. If not, the U.S. will request an independent dispute settlement panel under the Unites States Mexico Canada Agreement, or USCMA, they said. The United States and Canada demanded dispute settlement talks with Mexico in July - 250 days ago. Under USMCA rules, after 75 days without a resolution, they were free to request a dispute settlement panel, a third party that rules on the case. In my view, it’s long past time to say enough is enough and escalate this into a real dispute settlement case," Wyden said.

☆ Mexico finds 'serious irregularities' in labor probe at VU Manufacturing
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

Companies Carparts.Com Inc FollowMEXICO CITY, March 16 (Reuters) - Mexico's government on Thursday said it concluded there were "serious irregularities" hindering free association and collective bargaining at U.S. auto parts maker VU Manufacturing's operations in northern Mexico. "It was determined that there are serious irregularities and decisive actions on the part of the company to obstruct the free exercise of the rights to freedom of association and collective bargaining within VU Manufacturing," the government said in a statement. It added that it would seek to ensure workers can fully exercise their collective rights without disrupting bilateral trade. Michigan-based VU Manufacturing did not immediately respond to a request for comment. The U.S. government earlier said it received a petition in December from two Mexican labor organizations stating that workers at VU Manufacturing were being denied the right of free association and collective bargaining.

Mexico published a presidential decree on genetically modified (GM) corn in late 2020, saying it would ban GM corn in the diets of Mexicans and end the use the herbicide glyphosate by Jan. 31, 2024. The new decree eliminated the deadline to ban GM corn for animal feed and industrial use, by far the bulk of its U.S. corn imports. The new plan bans only GM corn used for dough or tortillas but leaves the door open to gradually substituting GM corn for animal feed and industrial use in the future. Some sector experts have said they worry that Mexico's restriction on GM corn, if successful, could set a precedent, prompting other countries to take a similar approach and disrupting the global corn trade. Corn for human food use comprises about 21% of Mexico's corn imports from the U.S., according to a representative from the National Corn Growers Association, citing U.S. Grains Council data.

CHICAGO/WASHINGTON, March 6 (Reuters) - The United States has requested formal trade consultations with Mexico over U.S. objections to its southern neighbor's plans to limit imports of genetically modified corn and other agricultural biotechnology products. "We hope these consultations will be productive as we continue to work with Mexico to address these issues." The United States has previously threatened to take the issue to a trade dispute panel under the trilateral agreement with Mexico and Canada over the plan, which would ban genetically modified corn for human consumption. A USTR official said the talks would cover Mexico's planned rejection of GMO corn and other agricultural biotechnology products that have been shown to be safe in the United States and other countries for decades. Corn for food use comprises about 21% of Mexican corn imports from the U.S., a representative from the National Corn Growers Association said, citing U.S. Grains Council data.

☆ U.S. Challenges Mexico’s Plan to Phase Out Imports of Corn From GMO Seeds
▼ + stars: | 2023-03-06 | by ( Yuka Hayashi | ) www.wsj.com time to read: 1 min

During 2022, Mexico purchased nearly $5 billion worth of corn from the U.S., making it the second largest importer after China. WASHINGTON—The U.S. said it is seeking formal consultations with Mexico over its agricultural biotechnology policies—a request officials said is aimed at Mexico’s import ban on genetically modified American corn and other crops. The U.S. Trade Representative’s office said the request was filed under the U.S-Mexico-Canada Agreement, a trilateral trade pact known as the USMCA that took effect in 2020.

☆ US files new labor complaint in Mexico, eyeing allegations at Unique Fabricating
▼ + stars: | 2023-03-06 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +1 min

MEXICO CITY, March 6 (Reuters) - The U.S. government on Monday filed its seventh labor complaint in Mexico under a trade pact that aims to improve workplace conditions, asking Mexican officials to probe alleged rights abuses at a plant owned by U.S. firm Unique Fabricating Inc (UFAB.A). "The union alleges Unique Fabricating refused to grant the union access to the facility and interfered with its organizing efforts," the Department of Labor said in a statement. Unique Fabricating did not immediately respond to a request for comment. Mexican officials did not immediately respond to requests for comment. Reporting by Daina Beth Solomon in Mexico City Editing by Dan Whitcomb and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

The country buys about 17 million tonnes of mostly GM yellow corn from the United States each year, mostly for animal feed. Mexico will still prohibit use of GM corn for human consumption, such as flour, dough, or tortilla made from the grain. About 20% of Mexican corn imports from the United States is white corn for food products. It will still move forward with its plan to ban imports of the herbicide glyphosate, with a transition period in effect until March 31, 2024. The United States had given the Mexican government until Tuesday to explain the science behind its proposed bans.

☆ Explainer: Spilt milk? Why are the US and Canada fighting over dairy?
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

HOW DOES CANADA'S DAIRY SYSTEM WORK? The Canadian Dairy Commission, a government corporation, sets a milk price annually that dairy processors pay to farmers. A WTO panel ruled in 2002 that Canada breached its trade obligations through its dairy support, siding with the United States. WHAT IS THE VALUE OF CANADA'S DAIRY SECTOR? Canada's 9,739 dairy farmers form one of the most influential lobbies in the country.

☆ U.S. raises 'grave concerns' over Mexico's agricultural biotech policy
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Jan 23 (Reuters) - U.S. officials raised "grave concerns" over Mexico's agricultural biotechnology policies in meetings with their Mexican counterparts on Monday, the office of U.S. Trade Representative Katherine Tai said. "We made it clear today that if this issue is not resolved, we will consider all options, including taking formal steps to enforce our rights under the U.S.-Mexico-Canada Agreement," the USTR office said in a statement. U.S. agriculture and trade officials traveled to Mexico to discuss Mexico's approach to agricultural biotech products. Reporting by Kanishka Singh in Washington; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

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