GHY Tradelines

(Journal of Commerce – Joseph Bonney)

Operations in most major Brazilian ports have been affected

Strikes by Brazilian customs officers are disrupting ports and slowing clearance of imports, maritime services provider Inchcape Shipping Services reports.

Industrial actions of varying lengths and degrees have affected operations in most major Brazilian ports, including Santos, Paranagua, Salvador, Manaus, Santarem, Santana and Itacoatiara. The customs officers are demanding better salaries and working conditions. Read more here.
 

(AFP/ch)

China on Thursday defended its limits on exports of rare earths, after major trading partners sought litigation through the World Trade Organization (WTO) in a months-long dispute.

“China’s export restrictions on rare earths are aimed at protecting environmental resources and people’s health, not the protection of domestic industries,” Chinese foreign ministry spokesman Hong Lei told reporters. “In light of rare earth resources, market supply, demand and consumption, we will continue to practise management over the mining, production and export of rare earths.” Read more here.
 

(The Toronto Star)

The Harper government gets an A for effort on expanding trade globally but a much lower grade on actual successes, according to a new report by a high-powered economic group.

The project organized by Carleton University in Ottawa says Canadians have for too long relied on a “culture of comfort” in easy dependence on trade with the United States.

But exports to the U.S., which accounted for 87% of Canadian sales abroad in 2000, declined to 75% in 2010, the group says. “Depending almost exclusively on domestic and U.S. markets for future prosperity is not sustainable,” states the report, “Winning in a Changing World.” It was put together from national consultations by well-known business, academic and government figures, including project co-chairs Derek Burney, Thomas d’Aquino, Len Edwards and Fen Hampson.

Canada is involved in dozens of free-trade talks or pre-negotiation studies, as Prime Minister Stephen Harper often notes approvingly. But the Carleton study concludes Ottawa should prioritize its negotiations to take advantage of possible trade-liberalization rules with countries that are big enough to provide an economic jolt to Canada. Read more here.
 

(STR Trade Report)

U.S. monthly surface transportation trade in goods with NAFTA partners Canada and Mexico fell 7.0% in April, according to statistics released June 26 by the Department of Transportation.

However, the April total of $79.8 billion was up 8.2% from a year before. Over the last ten years total surface transportation trade with Canada and Mexico has risen 70.5%, including an 84.3% gain for exports and a 60.2% increase for imports.

Surface transportation includes freight movements by truck, rail, pipeline, mail, foreign-trade zones and other modes and in April accounted for 86.5% of U.S. trade by value with Canada and Mexico. Surface trade between the U.S. and Canada totaled $47.2 billion, down 5.9% from March but up 5.6% from a year before. Exports dropped 6.9% for the month but climbed 4.5% from the previous April, while imports saw a 5.0% monthly drop but a 6.7% rise year-on-year. U.S.-Mexico surface transportation trade totaled $32.6 billion, down 8.6% from March but a 12.0% increase from the previous year. Exports fell 7.0% and imports slumped 9.8% for the month, but both categories saw increases from April 2011 (13.7% and 10.8%, respectively).