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☆ New U.S. agriculture trade chief seeks to diversify buyers beyond China
▼ + stars: | 2023-02-10 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, Feb 10 (Reuters) - U.S. chief agricultural trade negotiator Doug McKalip wants China to keep striving to meet U.S. farm goods purchase commitments under the 2020 "Phase 1" trade deal, but told Reuters that he also is pushing to diversify exports beyond the biggest U.S. grain customer. "I think for the American farmer, it's important to have a diverse set of buyers out there," he said. China will remain an important top customer, he said, a day after U.S. Census Bureau trade data showed China reached a record $40.85 billion - nearly a fifth of global U.S. farm exports that also reached a record $213 billion. "We'd certainly like to see their purchases be closer to the top numbers that they agreed to," McKalip said of China. Southeast Asia represents an important region to expand U.S. farm exports, and McKalip said he intends to work on reducing trade barriers through the Biden administration's Indo-Pacific Economic Framework negotiations.

WASHINGTON, Feb 7 (Reuters) - France and Germany's economy ministers said they would push for the U.S. Inflation Reduction Act to embrace European companies as fully as possible as they headed into talks with their Washington counterparts on Tuesday. While Canadian and Mexican companies are eligible to benefit from many of its provisions, the act does not help European competitors. Le Maire and his German counterpart Robert Habeck, who are due to put their case to Treasury Secretary Janet Yellen, trade representative Katherine Tai and Commerce Secretary Gina Raimondo, fear European companies could be disadvantaged. "A strong green industrial market in the U.S. and a strong green industrial market in Europe will help each other," Habeck told reporters from a noisy Washington street corner before they headed into their meetings. Le Maire said Europe needed transparency on the exact subsidies and tax credits that were on offer to ensure "fair competition" between industries on both sides of the Atlantic.

☆ Exclusive: AFL-CIO wants bigger say in U.S. digital trade deals for workers
▼ + stars: | 2023-02-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

WASHINGTON, Feb 7 (Reuters) - The Biden administration has made digital trade the centerpiece of its trade negotiations, and the AFL-CIO wants a bigger say in how the U.S. Trade Representative's office sets goals in this area, arguing they are too often dictated by big technology companies. The USTR is expected to soon propose text on the digital chapter in negotiations for the Indo-Pacific Economic Framework, the Biden administration's signature economic agreement. U.S. Trade Representative Katherine Tai has pledged to create a "worker-centric" trade policy, but the AFL-CIO said digital trade negotiations too often make no mention of labor standards nor the workers who write software or support networks. "Corporations shouldn't dictate the rules of the global digital economy with no regard for working people," AFL-CIO President Liz Shuler said in a statement. Other AFL-CIO demands for digital trade negotiations include:- Requiring governments to enact strong policies to safeguard individuals' personal data as opposed to the current largely voluntary "self-regulation" model that has proven inadequate.

☆ U.S. plans 200% tariff on Russian aluminum - Bloomberg News
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - The United States is preparing to impose a 200% tariff on Russian-made aluminum as soon as this week, Bloomberg News reported on Monday, as Washington looks to mount pressure on Moscow over its invasion of Ukraine. Reuters reported last October that the Biden administration was weighing restrictions on imports of Russian aluminum in response to Moscow's military escalation in Ukraine. The White House declined to comment on the Bloomberg report, which cited unnamed people familiar with the plans. The latter agency is responsible for investigating anti-dumping and anti-subsidy cases and in September 2021, imposed a 62.2% tariff on imports of Russian aluminum foil after determining it was being sold under fair value. Aluminum prices spiked last year, along with other commodities exported by Russia, with London Metal Exchange three month aluminum prices reaching a record of over $4,073 per tonne in March.

BERLIN, Feb 5 (Reuters) - Germany's Economy Minister Robert Habeck has called for cooperation in green investments between Europe and the United States ahead of meetings in Washington next week with U.S. Treasury Secretary Janet Yellen and other officials. "The USA is now gearing its economy towards green markets and driving forward cost reductions in the development of climate-friendly technologies," Habeck said. EU governments are worried the IRA could not only put European producers at an unfair disadvantage but lure investment away from Europe to the United States. They are likely to want to explore exceptions when the United States implements the plans. The talks will be focused on the U.S. subsidy package in the context of future trade relations between the EU and the United States.

☆ French, German ministers to tell U.S. don't poach EU investments -sources
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

PARIS, Feb 4 (Reuters) - France and Germany's economy ministers will tell senior U.S. officials not to try to actively poach green investments from Europe when they visit Washington next week to raise concerns about U.S. green tech subsidies, two French officials said. "One of the ministers' messages will be to not approach European companies about moving plants to the U.S. The second official said the aim was to avoid "aggressive pitches" to EU firms to invest in the United States. They will also seek a U.S. commitment to be transparent about subsidies companies receive under the Inflation Reduction Act, both officials said. That is key because it could determine how much state support European companies can receive under a European Commission proposal to allow third-country subsidies to be matched in Europe.

☆ Peltz's Trian seeks to rally Disney shareholders against board director Froman
▼ + stars: | 2023-02-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

REUTERS/Fred ProuserNEW YORK, Feb 2 (Reuters) - Activist investor Nelson Peltz's hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate's board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company's 12-member board and elect Peltz instead. Trian did not spell out in the letter why it had picked Froman to target among the Disney directors, but suggested that Peltz was more qualified to serve. In the letter, Trian also directed its criticism at the full Disney board, blaming it for a 44% drop in Disney's stock last year. A shareholder vote to decide on the composition of Disney's board has not yet been set but is expected in the spring.

☆ Trian presses Disney to replace board member Michael Froman with Nelson Peltz
▼ + stars: | 2023-02-02 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The proxy battle between Disney and activist investment firm Trian Management LP is heating up ahead of the company's annual shareholder meeting. On Thursday, Trian said in a filing that Disney shareholders should vote to remove Michael Froman from the board and replace him with Nelson Peltz. "Trian Group believes Mr. Froman has no experience as a public company director outside of Disney," the firm said in a statement Thursday. "In contrast, Nelson Peltz has served on numerous public company boards over the last several years." Few members of Disney's board have media experience outside of the Mouse House.

☆ 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. again asks Mexico to review labor rights issues at VU Manufacturing
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Jan 30 (Reuters) - The Biden administration on Monday asked Mexico under a regional trade pact to again probe whether workers at a VU Manufacturing facility in Piedras Negras are being denied labor rights. In September, Mexico and the United States said they had resolved an earlier complaint under USMCA, saying workers at auto-parts plant VU Manufacturing in northern Mexico were able to elect the union of their choice. "Despite this facility taking positive actions in 2022, some of the failures we identified previously appear to be recurring," said U.S. Trade Representative Katherine Tai on Monday. Michigan-based VU Manufacturing, who produces interior car parts including arm rests and door upholstery, did not immediately reply to a request for comment. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

☆ China, U.S. spar at WTO meeting over disputes
▼ + stars: | 2023-01-27 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

China's ambassador to the WTO Li Chenggang spoke at a meeting on trade disputes shortly after the United States lodged an appeal against a series of WTO rulings involving China, Turkey, Norway and Switzerland which found that U.S. metal tariffs breached global rules. Washington, which has long criticized the WTO dispute system for overreach and is leading discussions on reforming it, has criticized both rulings. The United States said it regretted the metal tariffs dispute with China was even on the agenda at the meeting and accused Beijing of imposing "illegal unilateral retaliatory measures" on U.S. exports. "A WTO that serves to shield China's non-market policies and practices is not in anyone's interest," said Deputy United States Trade Representative Maria Pagan, according to a copy of her speech. In an interview with Reuters on Thursday, Pagan played down the significance of more vocal criticism of Washington by China at WTO meetings.

☆ U.S. wants World Trade Organization dispute system fixed by 2024
▼ + stars: | 2023-01-26 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

The WTO's appeals bench, which rules on top disputes, has been mothballed for over two years due to Trump-era blockages of adjudicator appointments. Under President Joe Biden, Washington has resisted calls by WTO members to approve appointments and has instead been leading negotiations on how to reboot the WTO's dispute system. "Our goal is a fully functioning (dispute system) by 2024," Deputy United States Trade Representative Maria Pagan told Reuters in her first public comments on the closed-door talks, saying Washington was "very committed" to reforms. The United States has criticized the WTO's alleged overreach and lengthy processes and it has strongly contested some of its recent rulings against the United States. Pagan described the process as "frustrating" but said she was hopeful a breakthrough had been found, without elaborating.

As Africa struggles with economic headwinds caused by the COVID-19 pandemic, the war in Ukraine and, notably, Washington's own monetary policy, Africans are asking for proof the United States will stay the course this time. African countries have become collateral victims of this year's rate hikes by the U.S. Federal Reserve, aimed at curbing inflation at home. African countries are also finding it harder to access capital markets to meet their fiscal needs and refinance maturing debt. The United States, meanwhile, has largely failed to offer viable alternatives to cheap Chinese credit, officials said. One senior U.S. Treasury official said the United States had long been engaged in Africa, funding anti-HIV work and working on other health issues.

☆ 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.

WASHINGTON, Jan 23 (Reuters) - U.S. farm and trade officials raised "grave concerns" over Mexico's agricultural biotechnology policies in meetings with their Mexican counterparts on Monday, as lingering disagreements threaten decades of booming corn trade between the neighbors. The United States accounts for most of Mexican corn imports. U.S. officials traveled to Mexico to discuss Mexico's approach to agricultural biotech products. Mexico's agriculture ministry declined to comment, while the country's economy ministry, which handles trade, did not immediately provide comment. Mexican officials have said they will keep importing GM corn for animal feed.

☆ From green subsidies to chips, Davos debates reflect a world in flux
▼ + stars: | 2023-01-20 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

Davos, Switzerland CNN —The World Economic Forum in the Swiss Alps is typically a venue for politicians and business leaders to deliver sermons about the benefits of globalization and cross-border cooperation. European leaders used Davos to amplify complaints about the law’s tax breaks for American companies that make parts for green energy projects, which they claim will disadvantage European firms. German Chancellor Olaf Scholz addresses the World Economic Forum, in Davos, Switzerland, on Wednesday. Representatives from Asia’s third largest economy showed up in force at Davos to meet with international investors. “We’re looking at a less efficient world,” US Trade Representative Katherine Tai said.

☆ 'Discriminatory' measures in U.S. Inflation Reduction Act still need addressing, top EU minister says
▼ + stars: | 2023-01-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Union still believes President Joe Biden's Inflation Reduction Act discriminates against companies in the bloc, its top trade minister said Thursday. However, Valdis Dombrovskis told CNBC that the EU was engaged in ongoing negotiations with U.S. officials that had allayed only some of its concerns so far. He noted he met with U.S. Trade Representative Katherine Tai two days ago, a meeting at which the pair pledged to increase engagement on key issues including electric vehicle subsidies. "Our concerns are the discriminatory measures in [the] U.S. Inflation Reduction Act, which is discriminating against EU companies," he said in an interview at the World Economic Forum in Davos, Switzerland. "We think we should be addressing the climate change and green transition jointly, building transatlantic value chains, not breaking them apart."

☆ Davos 2023: Global trade rethink: 'race of the big pockets'?
▼ + stars: | 2023-01-19 | by ( Mark John | ) www.reuters.com time to read: +5 min

SummarySummary Companies US climate bill concerns dominate Davos trade talkSome fear "rich-country game" of rising state subsidiesRevamped globalisation must benefit all, Davos toldDAVOS, Switzerland, Jan 19 (Reuters) - The United States pitched its vision of "worker-centric" trade. "I am very concerned," World Trade Organization (WTO) chief Ngozi Okonjo-Iweala told Reuters on the sidelines of the meeting in Davos, Switzerland. Three decades of free global trade have, the International Monetary Fund estimates, lifted more than a billion people out of extreme poverty. The United States notably built into its trade pact with Mexico a mechanism for identifying and dealing with the denial of worker rights. U.S. Trade Representative Tai told a panel on Wednesday the United States wanted to "lead a conversation" on a new version of globalisation.

☆ Taiwan and the United States reach consensus in trade negotiations, pledge to maintain 'ambitious negotiating schedule'
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: +1 min

Flags of Taiwan and U.S. are placed for a meeting between U.S. House Foreign Affairs Committee Chairman Ed Royce speaks and with Su Chia-chyuan, President of the Legislative Yuan in Taipei, Taiwan March 27, 2018. The United States and Taiwan concluded four days of trade negotiations on Monday and reached consensus on several areas related to trade facilitation, anti-corruption, small and medium-sized enterprises and regulatory practices, the U.S. Trade Representative's office said. The first major negotiating round of the U.S.-Taiwan Initiative on 21st Century Trade saw the two sides exchange texts on those areas in Taipei, the office said in a statement. "Officials also reached consensus in a number of areas and pledged to maintain an ambitious negotiating schedule in the months ahead to continue this momentum," the statement said. Taiwan's top trade negotiator, John Deng, told reporters in Taipei he was "quite satisfied" with the outcome of the meetings.

☆ U.S., Taiwan officials pledge ambitious trade negotiating schedule
▼ + stars: | 2023-01-17 | by ( David Lawder | ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 17 (Reuters) - The United States and Taiwan concluded four days of trade negotiations on Monday and reached consensus on a number of areas related to trade facilitation, anti-corruption, small and medium-sized enterprises and regulatory practices, the U.S. Trade Representative's office said. The first major negotiating round of the U.S.-Taiwan Initiative on 21st Century Trade saw the two sides exchange texts on those areas in Taipei, USTR said in a statement. "Officials also reached consensus in a number of areas and pledged to maintain an ambitious negotiating schedule in the months ahead to continue this momentum," USTR said. Taiwan last year was excluded from a broader U.S. trade initiative covering Indo-Pacific countries that also focuses on non-tariff issues. USTR said that the trade texts exchanged during the Taipei negotiating round "follow through on the two sides' shared commitment to pursue a high-ambition trade initiative" that would "strengthen and deepen economic and trade ties."

☆ Yellen to meet China's vice premier Liu He in Zurich on Wednesday -U.S. Treasury
▼ + stars: | 2023-01-16 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

REUTERS/Shelby Tauber/File PhotoWASHINGTON, Jan 16 (Reuters) - U.S. Treasury Secretary Janet Yellen will meet Chinese Vice Premier Liu He in Switzerland on Wednesday to exchange views on economic developments and deepen communication between the world's two largest economies, a Treasury official said. But some African countries, including Zambia, have soured on Chinese lending and are looking for alternatives, economic analysts said. Liu is in Switzerland for the World Economic Forum meetings in Davos, which Yellen does not plan to attend. Yellen has met virtually three times with Liu since taking office, and met in Bali with Chinese central bank governor Yi Gang. Liu will step down this year as part of an overhaul of China's economic leadership disclosed in September.

REUTERS/Shelby Tauber/File PhotoWASHINGTON/DAVOS, Switzerland, Jan 16 (Reuters) - U.S. Treasury Secretary Janet Yellen will meet Chinese Vice Premier Liu He in Switzerland on Wednesday to exchange views on economic developments and deepen communication between the world's two largest economies, a Treasury official said. Yellen and Liu will also discuss global challenges like the possibility of a world recession, the corresponding risks, and how to enhance cooperation, the official said. Yellen does not plan to attend the World Economic Forum. Yellen has met virtually three times with Liu since taking office, and met in Bali, Indonesia with Chinese central bank governor Yi Gang. Liu will step down this year as part of an overhaul of China's economic leadership disclosed in September.

☆ Bulgaria clears way to take control of Lukoil oil refinery if needed
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

The 196,000 barrel per day refinery, the biggest fuel producer in Bulgaria, has switched to processing only Russian crude after the country was granted an exemption from the European Union's ban on imports of Russian oil over the invasion of Ukraine. Under the exemption to the end of 2024, the refinery cannot export fuels or oil products from Feb. 5 - with exception of deliveries to Ukraine. The refinery can also export by-products that cannot be safely stored in Bulgaria and could pose an environmental hazard. Lukoil Neftochim has previously said it could be forced to shut down if it cannot export its output. A special representative can also be appointed if the refinery breaches competition rules or European Union sanctions.

☆ Yellen leads new U.S.-Africa policy with trip to Senegal, Zambia, South Africa
▼ + stars: | 2023-01-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

"We believe that Africa's growth will be a key driver of global growth over the coming decades," a senior Treasury official told reporters. But some African countries, including Zambia, have soured on Chinese lending and are looking for alternatives, experts say. Yellen has criticized Beijing - now the world's largest creditor - for not moving quickly to restructure the debt of poor countries in Africa. The topic will be a key issue when she visits Zambia, the Treasury official said. Biden in December proposed that the African Union be included in the Group of 20 major economies to give African countries a bigger seat at the table.

☆ India, U.S. establish new trade group to bolster supply chains
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Trade Representative Katherine Tai and India's Minister of Commerce and Industry, Piyush Goyal, poses for a picture before the start of their meeting in New Delhi, India, November 22, 2021. REUTERS/Adnan Abidi/PoolNEW DELHI, Jan 12 (Reuters) - India and the United States have established a new working group to build sustainable supply chains and boost bilateral trade, the governments said in a joint statement on Thursday. The United States will also consider India's interest in the restoration of beneficiary status under the U.S. generalized system of preferences program, the statement added. The Trade Policy Forum, revived in 2021 after a gap for four years, will reconvene on a ministerial level before end of 2023. The two countries said they mean to continue to work together on resolving outstanding trade issues.

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