GHY Tradelines

(Janet Bealer Rodie – Textile World)

New free trade agreements should help to open markets and enhance competitiveness for U.S. textiles and apparel — but will they?

The last year has been busy with regard to free trade agreement (FTA) approvals and other efforts to widen trade avenues for U.S. goods and services. In October 2011, President Barack Obama signed legislation to authorize agreements with Korea, Colombia and Panama; and the Korean and Colombian pacts now are in force. U.S. trade officials are engaged in ongoing negotiations to establish a Trans-Pacific Partnership (TPP) Agreement with a growing group of countries around the Pacific Rim in order to facilitate trade relations in that region.

Since 1994, the United States has implemented FTAs with 18 countries, not including Panama. The TPP Agreement would bring four more countries into its circle of FTA trading partners. In addition, 46 other countries are trading with the United States under trade preference programs. Read more here.
 

(Sohrab Darabshaw – MetalMiner)

India is the latest country to cry foul over the dumping of cheap imports by Southeast Asian countries in what is being dubbed as a “mini-war” in global trade.

In the last month or so, steel producers from around the globe have already exchanged accusations of rivals in foreign lands dumping cheap metal into their markets. The countries at which fingers are being pointed are not only China, but also Russia, Ukraine and Korea.

Now, it’s the Indian steel producers’ turn to cry foul. Last week, The Business Standard reported on how the Comprehensive Economic Partnership Agreement (CEPA) is proving to be a new headache for Indian steel producers, who are already struggling with other problems beyond anti-dumping issues such as shortages of iron ore and skittish prices. They are now demanding that steel products be kept away from such Free Trade Agreements. Read more here.

(Loic Hostetter – U-T San Diego)

In a globalized economic atmosphere that relies on quick communication and low trade barriers, the U.S. government is responding with a multiagency strategy for regulating and protecting the nation’s food supply.

Part of this trend was on display Monday at the Otay Mesa Port of Entry, one of the busiest commercial ports along the U.S.-Mexico border.

A series of white trailers and trucks sat in the California Highway Patrol parking lot there. While nondescript from the outside, the trailers are packed with an array of scientific equipment used to test U.S.-bound agricultural imports for various contaminants and pathogens. Read more here.
 

(Reuters)

The United States and the European Union should seize a promising opportunity to restore much-needed economic growth by starting bilateral free trade talks early next year, Britain’s ambassador to the United States said on Wednesday.

“Estimates suggest that a comprehensive deal covering goods, agriculture, services, investment, government procurement and regulatory co-operation would be worth two to three percent in GDP gains to the EU and the U.S.,” British Ambassador Peter Westmacott said in the prepared text of a speech.

A comprehensive U.S.-EU agreement that opens new markets would increase business confidence on both sides of the Atlantic, encouraging companies to invest some of the trillions of dollars they have sitting on the sideline, Westmacott said. Read more here.
 

(Nirmala Menon – Wall Street Journal)

A majority of Canadians with professional and business ties to Asia picked China as a priority partner for a free trade agreement, though many are concerned that such a deal may still not allow Canadian businesses to compete on a level playing field, according to a new poll.

The Asia Pacific Foundation of Canada says 47% of its opinion panel of  Canadians with ties to Asia chose China for a trade deal, well ahead of Japan at 16% and India at 15%.

The findings come as Canada looks to boost trade ties with Asia, as the economies of its traditional trade partners in the West slow. Some three-quarters of Canadian exports are currently to the U.S. Read more here.
 

(Forbes)

The World Trade Organisation has just announced that it is finally going to do something about the Chinese restrictions on rare earths. No, no, not to actually do anything, don’t be so absurd, they’ve agreed to sit down and study and discuss the points being made, that’s all…  Read more here.
 

(Lee-Anne Goodman – The Canadian Press)

A U.S. federal agency has accused Canadian ports on the West Coast of deliberately luring lucrative cargo business away from their American counterparts.

The five-member Federal Maritime Commission voted 3-2 on Tuesday in favour of a critical report, which carries findings that also purportedly raise concerns about Canadian security measures at ports.

The report will soon be delivered to the U.S. Congress, which asked the nonpartisan agency last year to probe allegations about Canada’s port practices after complaints by two Washington state senators. Read more here.