Washington, DC – An economic study by a leading research firm concludes that U.S. Foreign-Trade Zones (FTZs) have a positive impact on employment growth, wage growth, and value-added growth in American communities. Compared to similar communities without FTZs. The study, “The U.S. Foreign-Trade Zones Program: Economic Benefits to American Communities,” was conducted by the Trade…
NAFTA partner’s exports now dodge 25 per cent tariff, but another U.S. trade threat looms Finance Minister Bill Morneau has quietly reversed a controversial decision to slap a surtax on two types of Mexican steel imports. Effective Feb. 2, up to a new limit, Mexican energy tubular products (such as those used to build pipelines) and…
The trade deal U.S. negotiators are seeking will have some teeth in case China goes back on its trade promises, as it has in the past, The New York Times reported. A top priority for Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, who are set to hold talks this week with Vice Premier Liu He,…
The Commerce Department is considering national security restrictions on artificial intelligence. Some worry they could stunt the industry in the U.S. SAN FRANCISCO — A common belief among tech industry insiders is that Silicon Valley has dominated the internet. Because much of the worldwide network was designed and built by Americans. Insiders worry that proposed…
Americans live in a world where other countries impose high tariffs and non-tariff barriers to trade. U.S. exporters face enormous obstacles in foreign markets, and yet, we maintain the most free and open market of any major country in the world. We have zero tariffs on 61 percent of the total value of our imports, more…
Just like the mysterious influx of pumpkin shipments in October, at the start of every February, there is a monumental increase in the purchase of flowers, chocolates, and jewelry in the U.S. If you love the thriving beauty, health, and vigor of delicate flowers, the delicious gooey center of a s’more by a campfire, or…
There are all kinds of annual awards: Razzies for bad films, Golden Mullets for the worst video game and the Turnip Prize for lousy art. That got me to thinking. Maybe another one’s in order, to celebrate the most embarrassing export control penalty of the year. Let’s call it the Dummies. My nomination will be hard…
Coinciding with the upswing in the world economy two years ago, global seaborne trade is doing well, note analysts for the Geneva-based United Nations Conference on Trade and Development (UNCTAD). They also observe that containerized shipping expanded by 4% in 2018—the fastest growth in five years. “Global maritime commerce gathered momentum two years ago and raised…
The United States International Trade Commission (USTIC) has released the 2019 Harmonized Tariff Schedule that went into effect January 1, 2019. Click here to view current version or Click here to search.
CBP’s air, land and seaports processed more than 33 million imports last year. Shirts, shoes, lumber, electronics, dishes, eggplants, squid, coffee, bricks and soccer balls. Makes sliver of the commerce worth a mind-boggling $2.4 trillion. Making the U.S. the world’s second largest importer behind the EU. While trade is more robust than ever, CBP cautions…
CHINESE TELECOM GIANT Huawei could face millions in fines if convicted of all charges in two indictments unsealed by the US Department of Justice Monday. But the money is likely the least of Huawei’s worries. The first indictment accuses Huawei and its executives, including CFO Meng Wanzhou, of crimes including bank fraud, wire fraud, money…
Dive Brief: Amazon is reportedly ramping up its ocean freight services “quietly and below the radar,” as it aims to gain more control of its supply chain, USA Today reported. Since the beginning of last year, Amazon organized the shipment of more than 5,300 containers from China to the U.S. Amazon did not respond to Supply…
