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☆ Canada, Mexico win auto rules trade dispute with U.S.
▼ + stars: | 2023-01-11 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

"The decision is good for Canada and Mexico," said Flavio Volpe, president of Canada's Automotive Parts Manufacturers' Association. The decision is "disappointing," said Adam Hodge, a spokesperson for the United States Trade Representative's office, adding that the decision could result in "fewer American jobs". The USTR will now "engage Mexico and Canada on a possible resolution to the dispute," Hodge said. The decision was announced amid a separate USMCA dispute centered on energy that has pitted the United States and Canada against Mexico. The United States said "core part" content should not be rounded up when determining the content of the entire car.

☆ U.S. cuts off Burkina Faso from Africa duty-free trade program
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

Jan 1 (Reuters) - The United States has dropped Burkina Faso from the AGOA trade preference program for failing to meet the requirements of the AGOA statute, the U.S. Trade Representative's (USTR) office said in a statement on Sunday. The Biden administration is "deeply concerned by the unconstitutional change" in government in Burkina Faso, according to the statement. Burkina Faso will be given "clear benchmarks" for a pathway toward reinstatement to the trade program, USTR's office said, adding that the Biden administration would work with the Burkinabe government. Frustrations over growing insecurity spurred two coups in Burkina Faso in 2022. Nearly two million people have been displaced and reside in makeshift camps, many run by the United Nations, that dot the arid countryside.

But what could mark the end of zero-Covid may be just the beginning of China's pandemic problems. Not to mention there are doubts that China's economy will be able to make a swift recovery even as it moves away from zero-Covid. "Between companies that manufacture in China for China, they're not going anywhere," Jeff Moon, China Moon Strategies founder and former assistant U.S. trade representative for China, said in an interview. "But there are also companies that are manufacturing in China for export out of China, and those are the companies that are actually looking to at different locations." Watch the video to learn more about how China's stringent zero-Covid policies collapsed and the challenges the world's second-largest economy faces as it moves to reopen.

☆ WTO rules against U.S. in Hong Kong labelling dispute
▼ + stars: | 2022-12-21 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

FILE PHOTO: A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. REUTERS/Denis BalibouseUntil 2020, the United States had treated Hong Kong, which is a separate WTO member, in the same manner as before it passed from British control in July 1997. A three-person WTO adjudicating panel found that the United States violated an obligation towards Hong Kong, by giving it less favourable treatment than other WTO members in terms of marks of origin on its products. The United States said it had applied an exception allowing for measures to protect a country’s “essential security interests”. The Hong Kong government welcomed the ruling and said it had affirmed its special status as a separate customs territory.

☆ U.S. expands dispute settlement consultations over Canadian dairy tariff policies
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Dec 20 (Reuters) - The Biden administration said on Tuesday it was requesting new dispute settlement consultations under the U.S.-Mexico-Canada Agreement (USMCA) trade deal related to Canadian dairy import tariff policies. The United States initiated dispute consultations over some Canadian dairy tariff-rate quotas in May, alleging Canada's allocations deny U.S. retailers access to its markets and undermine the agreement. Last year, the United States requested the creation of a panel under USMCA rules to resolve a dispute over Canadian dairy quotas after failing to settle the issue with Ottawa. The panel in a 50-page report in January said Canada violated the trilateral trade accord by reserving most of its preferential dairy tariff-rate quotas for Canadian processors. Canada has said that it amended its allocation policies for dairy quotas after the panel report.

☆ EU agrees to the world’s largest carbon border tax
▼ + stars: | 2022-12-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —European Union governments have reached a deal on the world’s first major carbon border tax, as part of an overhaul of the bloc’s flagship carbon market that aims to make its economy carbon-neutral by 2050. EU ministers finalized details of the Carbon Border Adjustment Mechanism early Sunday after reaching a provisional agreement earlier on in the week. The landmark measure adds a pollution price on certain imports to the European Union. She added that certifying carbon emissions in producing countries remains a “challenge.”Climate policy overhaulThe carbon border tax is part of a wider deal agreed to Sunday that reforms the EU carbon market to cut its emissions 62% by 2030, compared to 2005. The Carbon Border Adjustment Mechanism will be phased in at the same time, in that way protecting domestic firms from being undercut by foreign competitors.

☆ U.S. extends tariff exclusions on 352 Chinese import categories for nine months
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 16 (Reuters) - The U.S. Trade Representative's office said on Friday it is extending China "Section 301" tariff exclusions for another nine months on 352 Chinese import product categories that were set to expire at the end of 2022. The tariff exclusions, which include industrial components such as pumps and electric motors, some car parts and chemicals, bicycles and vacuum cleaners, were reinstated in March by U.S. Trade Representative Katherine Tai as part of her strategy to confront Chinese trade practices. USTR said the extension "will help align further consideration of these exclusions with the ongoing comprehensive four year review" of the Section 301 tariffs imposed by former U.S. President Donald Trump on some $370 billion worth of Chinese imports. The trade office said it is collecting comments in the tariff review through Jan. 17, 2023. Reporting by David Lawder Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

[1/7] U.S. President Joe Biden delivers keynote remarks at a U.S.-Africa Business forum at the 2022 U.S.-Africa Leaders Summit in Washington, U.S., December 14, 2022. "The United States is 'all in' on Africa's future," Biden told African leaders attending a three-day summit in Washington. Beijing has held its own high-level meetings with African leaders every three years for more than two decades. For their part, many African leaders reject the idea that they need to choose between the United States and China. "The fact that both countries have different levels of relations with African countries makes them equally important for Africa's development," Ethiopia's U.N. ambassador, Taye Atske Selassie Amde, told Reuters.

☆ China launches suit at WTO against U.S. chip export curbs - Global Times
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

Dec 13 (Reuters) - China on Monday launched a suit at the World Trade Organization over against the United States over its chip export control measures, the state-backed Global Times said in a tweet on Tuesday, citing China's commerce ministry. The Chinese mission to the WTO in Geneva and the U.S. Trade Representative did not immediately respond to Reuters requests for comment. The United States has blocked appointments to the WTO's top ruling body on trade disputes, meaning some rows never get settled. The alleged complaint by China on U.S. chip export curbs comes days after a WTO ruling against Washington in a separate suit about metal tariffs that had been brought by China among others. The United States, a regular critic of the WTO's arbitration proceedings, rejected the WTO's findings.

In one of the most high-profile and potentially explosive cases to come to the WTO, the three-person adjudicating panel said the U.S. measures were inconsistent with WTO rules and recommended the United States bring them into conformity. The United States said it strongly rejected the "flawed" interpretation and conclusions of the panel. Trump imposed 25% tariffs on steel imports and 10% on aluminium in 2018, using Section 232 of a 1962 act that allows the president to restrict imports if they are threatening national security. The case hinged on the exemption from global trade rules the WTO allows in cases of national security. The central U.S. argument was that national security is for countries themselves to judge and certainly not something to be assessed by three WTO adjudicators sitting in Geneva.

It could also negatively impact African nations that produce battery materials. The United States has a Free Trade Agreement in place with only one African country, Morocco. Battery materials and trade are set to be a focus at next week's U.S.-Africa Leaders' Summit in Washington where President Joe Biden will meet presidents of African countries including Congo. Under IRA, U.S. carmakers will get tax credits if they source at least 40% of battery materials domestically or from American free-trade partners. His is one of many projects across sub-Saharan Africa aiming to produce battery materials like lithium, nickel and graphite.

The proposal from the U.S. Trade Representative's office to be negotiated with the European Union would create a "club" of countries seeking to reduce carbon emissions. Countries with emissions exceeding the standards would pay higher tariffs when exporting metals to countries with lower emissions, the sources briefed on the plans said. Countries with steel and aluminum plant emissions at or below the standards would pay lower tariffs, the sources said. U.S. steelmakers claim to have the world’s lowest carbon emissions levels, in part because 70% of American steel is made from scrap iron in electric-arc furnaces rather than coal-fired blast furnaces. The U.S.-EU talks on low-carbon steel have been aimed in large part at China, which relies on coal for most of its steel output as well as low-grade iron ore that contributes to high carbon emissions.

They issued a joint statement after the third ministerial-level of the U.S.-EU Trade and Technology Council (TTC) vowed to work constructively to resolve it. EU Trade Commissioner Valdis Dombrovskis on Monday called the $430 billion U.S. Inflation Reduction Act discriminatory and urged steps be taken before year's end to modify the law. It offers consumers tax credits of $7,500 for new purchases of Tesla (TSLA.O), Ford (F.N) and other North American-made EVs that the EU fears will significantly hurt European. Other participants included U.S. Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai and European Commission Vice President Margrethe Vestager. During a state visit to Washington last week, French President Emmanuel Macron told broadcaster CBS it was a "job killer" for Europe.

☆ Tax credits for EU electric vehicles to dominate U.S. trade talks
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: +2 min

U.S. Secretary of State Blinken attends the Freedom of Expression Roundtable, in New York, U.S., September 19, 2022. The European Union's top trade official on Monday called for urgent steps before the end of the year to modify a U.S. climate law that would cut off the bloc's electric vehicles from U.S. tax credits, calling the measure discriminatory. EU Trade Commissioner Valdis Dombrovskis, speaking to Deutsche Welle before a meeting of the U.S.-EU Trade and Technology Council (TTC) said the law threatened to undermine progress made by the year-old transatlantic forum. Dombrovskis said the EU was looking at how to make its own subsidies "more efficient" and potential increases in joint U.S.-EU financing. Participants include U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai and European Commission Executive Vice Presidents Valdis Dombrovskis and Margrethe Vestager.

☆ Monday's EU-US trade talks overshadowed by tax concerns on climate measure
▼ + stars: | 2022-12-05 | by ( David Lawder | ) www.reuters.com time to read: +3 min

COLLEGE PARK, Md., Dec 5 (Reuters) - Top European Union officials intend to complain loudly to their U.S. counterparts at a trade meeting on Monday about the bloc's electric vehicles being cut off from tax credits in U.S. President Joe Biden's signature climate law. "The Inflation Reduction Act will be part of the range of discussions on trade," a spokesperson for the White House National Security Council said in a statement. The U.S. side was "committed to continuing to understand EU concerns" through a newly established task force, the spokesperson added. European and South Korean officials criticized the Inflation Act at the G20 Summit in Indonesia last month. French officials say they are hopeful an executive order from the White House could give European nations a break, without the need for seeking revisions from Congress - a move the White House wants to avoid.

☆ EU to adapt state aid schemes in response to U.S. subsidy package, von der Leyen says
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Dec 4 (Reuters) - The EU will adapt its state aid rules to prevent an exodus of investment triggered by a new U.S. green energy subsidy package, the bloc's chief executive said on Sunday. "Competition is good ... but this competition must respect a level playing field," European Commission President Ursula von der Leyen said in a speech in the Belgian city of Bruges. "The (U.S.) Inflation Reduction Act should make us reflect on how we can improve our state aid frameworks and adapt them to a new global environment," she added. The topic is one of several on the agenda of the EU-U.S. Trade and Technology Council meeting on Dec. 5. Reporting by Sabine Siebold and Riham Alkousaa; Editing by Gareth Jones and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico, U.S. plan pitch by early 2023 to lure firms from abroad
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] Mexico's economy Minister Raquel Buenrostro smiles during an event with business association representatives to discuss targets for "Black Friday" shopping season, in Mexico City, Mexico, October 19, 2022. REUTERS/Edgard GarridoMEXICO CITY, Dec 2 (Reuters) - Mexican Economy Minister Raquel Buenrostro and U.S. Secretary of Commerce Gina Raimondo on Friday agreed to set out a plan by early 2023 for the relocation of companies from Asia to North America, Mexico's government said. On Thursday, Buenrostro discussed efforts to resolve a bilateral spat over Mexico's energy policies with U.S. Trade Representative Katherine Tai. Tai also stressed the importance of avoiding disruptions in U.S. corn exports to Mexico. Reporting by Mexico City Newsroom Editing by Dave Graham and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ China will move to protect its firms following U.S. telecoms ban
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 1 (Reuters) - China opposes the U.S. Federal Communications Commission's ban on new Chinese telecommunications equipment sales, the commerce ministry said on Thursday, vowing to adopt necessary measures to safeguard the rights of its domestic firms. The Biden administration on Friday banned the sale or import of new telecommunications equipment from China's Huawei Technologies and ZTE (000063.SZ), citing national security risks. Washington designated five Chinese companies to the so-called "covered list" in March 2021: Huawei, ZTE, telecoms firm Hytera Communications Corp, video surveillance firm Hikvision and surveillance equipment maker Dahua. The commission said the following June that it was considering banning all equipment authorisations for the firms on the list. Chinese commerce minister Wang Wentao expressed concerns over U.S. trade restrictions against China during a recent talk with U.S. Trade Representative Katherine Tai, Shu said last week.

☆ Covid policies will disrupt business operations significantly next year and beyond, says Jeff Moon
▼ + stars: | 2022-11-28 | 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 EmailCovid policies will disrupt business operations significantly next year and beyond, says Jeff MoonJeff Moon, China Moon Strategies founder and former assistant U.S. trade representative for China, joins 'Squawk on the Street' to discuss how Xi Jinping is expected to handle the anti-government protest in China, how Moon would advise companies operating out of China, and more.

☆ Hyundai's best years in the U.S. are set to be tested by the Inflation Reduction Act
▼ + stars: | 2022-11-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

"I think what Hyundai, Kia and Genesis have done is they've really compressed that time frame. Sales of Hyundai and Kia vehicles have risen roughly 61% since 2010 to more than 1.4 million vehicles in the U.S. last year. LMC forecasts Hyundai's sales of all-electric vehicles are expected to represent 9.2% of the U.S. EV market this year. While sales are expected to grow that percentage is seen as the company's peak until at least 2024 or 2025, when the new Georgia plant is set to come online. Munoz said the new Georgia plant is expected to produce 300,000 vehicles annually, with the potential to reach 500,000 in the future.

☆ Tesla safety at centre of South Korean trial over fiery, fatal crash
▼ + stars: | 2022-11-20 | by ( Ju-Min Park | ) www.reuters.com time to read: +9 min

SEOUL, Nov 21 (Reuters) - In an upscale Seoul neighbourhood two years ago, a white Tesla Model X smashed into a parking lot wall. The criminal trial about to begin in South Korea hangs on questions about the safety of Tesla cars, at a time when the EV maker faces a range of lawsuits and increased scrutiny by regulators. A lawyer for the family of Yoon Hong-geun, who owned the car and died in the crash, declined to comment. Tesla sold 17,828 vehicles in South Korea in 2021, registration data shows. Judge Park Won-gyu said that he plans to call Tesla engineers to testify and that the safety of Tesla vehicles would be examined at trial.

☆ U.S.-China Trade Talks Resume on Sidelines of Asian Summit
▼ + stars: | 2022-11-18 | by ( Yuka Hayashi | ) www.wsj.com time to read: 1 min

WASHINGTON—U.S. Trade Representative Katherine Tai met with Chinese Commerce Minister Wang Wentao Friday to discuss trade issues, in Ms. Tai’s first face-to-face meeting with a senior Chinese official since taking office in 2020, her office said. The session came on the heels of President Biden’s meeting with Chinese President Xi Jinping on Monday, in which the two leaders agreed to maintain communication between key senior officials to discuss global and bilateral issues.

☆ Five countries, other than China, most dependent on the South China Sea
▼ + stars: | 2022-11-18 | by ( Sean M. Holt | ) www.cnbc.com time to read: +11 min

Territorially, there are seven claimants to the South China Sea: China, Brunei, Indonesia, Malaysia, the Philippines, Taiwan and Vietnam. Analysts name the top five countries, other than China, that are most dependent on the South China Sea. Aerial view of fishing boats setting sail to South China Sea for fishing on August 16, 2022 in Yangjiang, Guangdong Province of China. "Although they claim more than half of the South China Sea, China has pushed claimant states such as Vietnam out of traditional fishing waters and more into the South China Sea, causing excessive overfishing." South KoreaSouth Korea is "intentionally quiet about the South China Sea" as it wants to "maintain favor with China," Graham said, citing Seoul's primary focus on the North Korean issue.

☆ Kamala Harris Leads U.S. Push to Bolster Economic Ties in Asia
▼ + stars: | 2022-11-17 | by ( William Mauldin | Keith Zhai | ) www.wsj.com time to read: 1 min

BANGKOK, Thailand—Vice President Kamala Harris and other senior Biden administration officials are using an Asian economic gathering to pursue closer business ties and press for higher environmental and labor standards in a part of the world where China has deep economic links. Ms. Harris is leading the U.S. delegation at the 21-nation Asia-Pacific Economic Cooperation leaders summit that begins Friday in the Thai capital, Bangkok—the first time in four years the group is gathering. Secretary of State Antony Blinken and Katherine Tai , the U.S. trade representative, attended minister-level meetings on Thursday that, Ms. Tai said, brought momentum to U.S. economic efforts.

☆ Southeast Asia leaders kick off ASEAN summit in Cambodia
▼ + stars: | 2022-11-11 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Cambodia, this year's chair for the Association of Southeast Asian Nations (ASEAN), is hosting the weekend summit in Phnom Penh — the group's first in-person meeting since the Covid pandemic. Leaders from the U.S., China, South Korea and Japan will also be meeting ASEAN leaders in Phnom Penh. "Looking to the future, ASEAN needs to strongly promote the values that have made ASEAN successful over the past five decades. The ASEAN nations want more trading partners, the more, the better," he told CNBC's "Street Signs Asia" on Thursday. The Treaty of Amity and Cooperation in Southeast Asia is a peace treaty among Southeast Asian countries established in 1976.watch now

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