GHY Tradelines

An updated list of recently published government memorandums, notices, regulations and decisions for the week ending March 16, 2011 is now available on our website here.
 

(Embassy – Carl Meyer)

Both countries want to protect agriculture; they differ on rules of origin, labour provisions

A new government report has given trade talks between Canada and Japan a thumbs up, but noted that both countries aren’t seeing eye-to-eye on several trade issues, and will want to protect industries like agriculture—leading one expert to cast doubt on the seriousness of the exercise.

In March 2011, bureaucrats from the two countries began a series of meetings in Toronto, Tokyo, and Vancouver to hash out the details of a study examining the feasibility of a trade agreement. Their most recent meeting was Jan. 23 to 24 in Tokyo.

The result of their work, the Report of the Joint Study on the Possibility of a Canada-Japan Economic Partnership Agreement, was posted March 7 on the Department of Foreign Affairs and International Trade website. Read more here.
 

(International Freighting Weekly – Mike Weir)

Container lines on the transpacific trade lanes yesterday proposed a further $400 per feu general rate increase (GRI) to take effect on 15 April.  Including the previously announced $300 increase, effective today, and the $500-$700 increase proposed for 1 May, the surprise announcement brings the combined transpacific rate hike to at least $1,200.

Shippers have previously expressed doubt that the rate increases would take full effect, but market commentators say that, for the time being at least, the price hikes seem to be holding. Read more here.
 

(The Associated Press)

Europe‘s debt crisis likely to drag on U.S. exports

A slight drop in exports and a rise in imports widened the broadest measure of the U.S. trade deficit at the end of last year. The increase pushed the gap to its widest point in three years.  The Commerce Department said Wednesday that the current account trade deficit increased 15.3% in the October-December quarter, to $124.1 billion.

A higher trade deficit acts as a drag on growth. It means more goods and services are being purchased from overseas, while U.S. companies are making fewer sales overseas.

Exports decreased slightly to $380.4 billion, in part because of a drop in overseas demand for U.S. airline tickets. Imports ticked up to $566.7 billion. The increase was partly driven by increased purchases of imported airplanes.

For the year, the current account deficit rose 0.6% to $473.4 billion, the largest imbalance since 2008. Read more here.
 

(CBSA)

This memorandum refers to the application of anti-dumping and countervailing duty to importations of certain thermoelectric containers originating in or exported from the People’s Republic of China.
 

(CBSA)

This memorandum refers to the application of anti-dumping duty on importations of refined sugar originating in or exported from the United States of America.
 

(JOC Sailings – Bill Mongelluzzo)

Retailers are “carefully stocking up,” which indicates that containerized imports should continue to increase into mid-year, according to the monthly Global Port Tracker report released on Monday.

“Retailers only import more if they expect to sell more, so these numbers are a sign that optimism is growing,” said Jonathan Gold, vice president for supply chain and customs policy at the National Retail Federation. The Global Port Tracker is published each month by the NRF and Hackett Associates. Read more here.