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☆ U.S. Commerce's Raimondo vows continued support in talks with Ukraine economy minister
▼ + stars: | 2022-11-09 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 8 (Reuters) - U.S. Commerce Secretary Gina Raimondo pledged continued strong support for Ukraine during a meeting with the country's economy minister, including efforts by the U.S. government and private sector to help rebuild Ukraine's civilian infrastructure, the Commerce Department said on Tuesday. Ukrainian Economy Minister Yulia Svyrydenko briefed Raimondo at their meeting in Washington on Russia’s recent attacks on Ukraine’s energy infrastructure and Ukraine’s efforts to promote economic recovery, Commerce said in a statement. The two also discussed a U.S.-Ukraine infrastructure task forcebeing formed by the Department of Commerce, Department of Transportation and Ukrainian Ministry of Infrastructure, the department said. Her visit to Washington comes during congressional elections that could see President Joe Biden's Democrats lose control of Congress, with some Republicans already speaking out against continued U.S. support for Ukraine. "At that point, if public opinion on Ukraine starts to shift materially, I think the prospects for U.S. support for Ukraine follow and deteriorate," he said.

☆ U.S., Taiwan wrap up 'productive' trade meeting - USTR
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 9 (Reuters) - Taiwan and the United States concluded two days of "productive" trade talks in New York on Wednesday, the office of the U.S. Trade Representative said. The meetings were part of the U.S.-Taiwan Initiative on 21st-Century Trade, a program opposed by China, which views self-governing Taiwan as its own territory. The U.S. delegation included representatives from USTR, the National Economic Council, the Department of Commerce, the Department of Treasury, the Small Business Administration, and the Food and Drug Administration, USTR said. It includes negotiations on 11 areas of trade, including trade facilitation, good regulatory practices, anticorruption, agriculture, digital trade, labor, and the environment. Despite the lack of formal diplomatic ties, the United States has been keen to bolster support for Taiwan, especially as it faces increased political pressure from China to accept its sovereignty claims.

☆ Ukraine minister: GDP contraction of 39% expected in 2022 vs earlier forecast of 35%
▼ + stars: | 2022-11-09 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 9 (Reuters) - Ukrainian economy minister Yulia Svyrydenko said Russia’s destruction of civilian infrastructure in recent weeks was expected to result in a 39% contraction of gross domestic product in 2022, down from an earlier forecast of a 35% drop. Asked about recent comments from Republican leaders in Congress suggesting they would curtail U.S. aid to Ukraine, Svyrydenko said Ukraine's fight against Russia was an existential one, and that the entire world order would change if it lost. She said Ukraine is also seeking a yearlong extension of the suspension of U.S. steel tariffs to help Ukrainian steelmakers, which have been hit hard by Russian missile attacks. Svyrydenko said she discussed the issue with U.S. Trade Representative Katherine Tai during a meeting in Washington earlier on Wednesday. She also met on Tuesday with U.S. Commerce Secretary Gina Raimondo, who pledged continued strong support for Ukraine, including efforts by the U.S. government and private sector to help rebuild Ukraine's civilian infrastructure.

☆ Mexico not buying U.S. yellow corn as GM ban looms, Lopez Obrador says
▼ + stars: | 2022-11-09 | by ( Marianna Parraga | ) www.reuters.com time to read: +3 min

The United States wanted to sell Mexico more yellow corn and Mexico declined, Lopez Obrador said in a regular news conference. "There is a market for it, but the government cannot make a purchase because we do not want GM," Lopez Obrador said, citing a lack of scientific investigation into its effects. Lopez Obrador did not specify who made the request to sell more corn, the amount of the requested sale or the time frame. Mexico is ready to halve its U.S. imports of yellow corn when the decree goes into effect and is considering direct agreements with farmers to secure non-GM yellow corn imports, the country's deputy agriculture minister said in October. Chicago Board of Trade corn futures fell on Wednesday after the news, with the benchmark December contract down 6 cents a bushel at a two-month low of $6.61-1/2 a bushel.

☆ U.S., Mexico discuss regional markets, business relocation, Mexico says
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 7 (Reuters) - U.S. Commerce Secretary Gina Raimondo and her Mexican counterpart spoke by phone about strengthening regional markets and promoting relocalization of U.S. companies to Mexico, Mexico's economy ministry said in a tweet on Monday. The phone call comes days after Mexican Economy Minister Raquel Buenrostro, who took her post in October, spoke with U.S. Trade Representative Katherine Tai over the Mexican energy sector and U.S. corn exports. Reporting by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

☆ Taiwan, U.S. to hold in person trade talks next week
▼ + stars: | 2022-11-04 | by ( ) www.cnbc.com time to read: +1 min

Flags of the United States and Taiwan displayed on phone screens are seen in this multiple exposure illustration photo taken in Poland on August 4, 2022. Taiwan and the United States will hold in-person trade talks next week in New York under a new joint initiative announced in June, the U.S. and Taiwanese governments said, a program opposed by China, which views the island as its own territory. Washington and Taipei unveiled the U.S.-Taiwan Initiative on 21st Century Trade in June, days after the Biden administration excluded Taiwan from its Asia-focused economic plan designed to counter China's growing influence. The U.S. Trade Representative's office said in a Thursday statement the "conceptual discussions" would take place Tuesday and Wednesday, with Assistant United States Trade Representative Terry McCartin as the lead trade official. The U.S. delegation will also include representatives from the National Economic Council, the Department of Commerce, the Department of Treasury, the Small Business Administration, and the Food and Drug Administration, it added.

☆ EU asks U.S. for same treatment as Canada and Mexico in electric vehicles sales
▼ + stars: | 2022-10-31 | by ( Jan Lopatka | ) www.reuters.com time to read: +1 min

FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, September 28, 2022. REUTERS/Yves HermanPRAGUE (Reuters) -The European Union asked the United States on Monday to treat EU electric vehicles, batteries and sustainable energy equipment sold in the United States the same as those from Canada and Mexico, Czech trade minister Jozef Sikela said. The 27-nation EU has been complaining the U.S. Inflation Reduction Act effectively discriminates against EU producers because it offers tax breaks to consumers on such goods made in North America, but not for those made in the EU. The EU argues that, unlike the United States, it offers the same tax breaks for EU-made and U.S.-made goods in these sectors. The issue is to be resolved by a special task force, which will meet for the first time this week, EU Trade Commissioner Valdis Dombrovskis said.

☆ South Korea, U.S. in 'intense conversation' over EV tax credits, trade ambassador says
▼ + stars: | 2022-10-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

SAVANNAH, Ga. – South Korean officials are working closely with the U.S. government to adjust restrictive regulations on electric vehicles under the recently passed Inflation Reduction Act, according to the county's trade ambassador Tuesday. "We are in very intense conversation at the moment," Cho said Tuesday following the groundbreaking of a $5.5 billion electric vehicle plant by Hyundai Motor Group near Savannah, Georgia. Under the IRA, plug-in electric vehicles much be produced in North America to qualify for the tax incentives. U.S. Deputy Secretary of Commerce Don Graves during the event on Tuesday called South Korea a strong trade partner, but did not comment on the Inflation Reduction Act. Last week, U.S. Trade Representative Katherine Tai spoke with Korea's Minister for Trade Ahn Dukgeun about the IRA.

Mark Wu held more than $1 million of Amazon.com Inc. stock when President Biden tapped him to help craft a trade policy that would benefit U.S. technology companies and online retailers. Ethics officials at the Office of the U.S. Trade Representative said they gave Mr. Wu two options: Get rid of the stock or recuse himself from digital trade issues.

☆ EU hopeful its electric cars can get level playing field in U.S. market
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

The EU is complaining that while it allows government tax breaks or subsidies for purchases of U.S. electric cars like Tesla (TSLA.O), the United States makes such support conditional on the car, or parts of it, being made in the United States. "Last month Tesla model Y was the most sold car in Germany," European Commission Vice President Valdis Dombrovskis, responsible for trade, told a news briefing. Register now for FREE unlimited access to Reuters.com Register"That would not have been possible without the un-discriminatory EU subsidy, while EU electric cars do not get a similar subsidy in the U.S., which is discrimination that we want to address," Dombrovskis said. The EU car makers - such as Volkswagen - are affected by the U.S. legislation which covers a host of other products. He said the problem also concerned a wide range of goods from the "green economy" sector, including batteries, hydrogen, and renewable energy equipment.

WASHINGTON, Oct 12 (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday said the global economy was facing "significant headwinds" and the United States was working to shore up its supply chains and guard against "geopolitical coercion" by Russia, China and others. "We know the cost of Russia's weaponization of trade as a tool of geopolitical coercion, and we must mitigate similar vulnerabilities to countries like China," Yellen said, underscoring Washington's determination to hold Russia accountable for its invasion of Ukraine and its initial blockade of food and energy shipments from the country. "Friend-shoring is not meant to be a tiny handful of countries. It's something that's meant to (gain) diversity...but still get the benefits of trade," Yellen said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal and Dan Burns; Editing by Mark Porter and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ US raises tariffs on European-built aircraft in ongoing dispute over subsidies
▼ + stars: | 2020-02-15 | by ( ) www.cnbc.com time to read: +4 min

The U.S. government on Friday said it would increase tariffs on aircraft imported from the European Union to 15% from 10%, ratcheting up pressure on Brussels in a nearly 16-year transatlantic dispute over aircraft subsidies. EU officials have said they want to negotiate with Washington but will not be bullied into submission. EU officials had no immediate comment on Friday's news. The WTO in October had awarded Washington the right to impose tariffs on $7.5 billion of annual EU imports in its case against Airbus. "The EU and Airbus could end these tariffs by finally complying with their legal obligations, ending these illegal subsidies, and addressing their ongoing harm.

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