U.S. Imported 34.6 mmt of Steel in 2017
The United States is the world’s biggest steel importing nation, buying 35.6 million tonnes of the building raw material in 2017. According to the Department of Commerce Steel Report, in 2017, the U.S. imported 34.6 million metric tons (mmt) of steel, a 15 percent increase from 30 mmt in 2016 and a 14 percent decrease […]...
Read MoreJapan-EU Trade Agreement Threatens U.S. Exports
Japan-EU Trade Agreement threatens U.S. Pork Exports to Japan, as the agreement will eliminate, or sharply reduce, duties on agricultural products in which the EU has a major export interest, such as pork. Pork is one of the EU’s main agricultural exports to Japan and they are a fierce competitor of the United States. Given […]...
Read MoreWorld Trade Growth is Expected to Remain Strong
World merchandise trade growth is expected to remain strong in 2018 and 2019 after posting its largest increase in six years in 2017, but continued expansion depends on robust global economic growth and governments pursuing appropriate monetary, fiscal and especially trade policies, WTO economists said. The WTO anticipates merchandise trade volume growth of 4.4% in […]...
Read MoreTrump Directed to Negotiate U.S. Re-entry into TPP
President Trump has reportedly directed U.S. Trade Representative Robert Lighthizer and National Economic Council Director Larry Kudlow to negotiate into re-entering the Trans-Pacific Partnership, nearly a year after he withdrew the U.S. from the multilateral trade agreement in of his first acts as president. U.S. Senator Ben Sasse, an outspoken advocate for trade and agriculture, […]...
Read MoreU.S. Impose Quota on Tariff-Free Brazilian Steel
The U.S. government has proposed a quota for tariff-free imports of Brazilian steel, two Brazilian officials who participated in a U.S.-Brazil meeting told Reuters on Thursday, offering to soften trade barriers after tough talk last month. Tariffs on steel (25%) and aluminum (10%) were suspended for Brazil, South Korea, Argentina, Australia and the European Union […]...
Read MoreChina Increased Tariffs on U.S. Import Products
China has increasedtariffs by up to 25 percent on 128 U.S. import products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world’s biggest economies in response to U.S. duties on imports of aluminum and steel. The tariffs, which take effect on April 2, were announced by China’s finance […]...
Read MoreU.S. Trade Deficit Rose to $57.6 billion in February
The U.S. monthly international trade deficit increased from $56.7 billion in January (revised) to $57.6 billion in February according to the U.S. Bureau of Economic Analysis, as imports increased more than exports. The goods deficit increased $0.3 billion in February to $77.0 billion. The services surplus decreased $0.6 billion in February to $19.4 billion. Exports […]...
Read MoreU.S. Response to China’s Unfair Trade Practices
As part of the U.S. response to China’s unfair trade practices related to the forced transfer of U.S. technology and intellectual property, the Office of the U.S. Trade Representative (USTR) published a proposed list of products imported from China that could be subject to additional tariffs. Following USTR’s Section 301 investigation, President Trump announced in […]...
Read MoreKey Barriers to Digital Trade
Businesses engaged in international trade depend on digital networks to manufacture products, manage global value chains, and provide cutting-edge services. In the 2018 National Trade Estimate (NTE), USTR identified the key barriers to digital trade, a critical element of U.S. competitiveness and a key source of U.S. innovation and growth. The digital trade is under […]...
Read MoreTurkish Export Market Barriers for the U.S.
USTR has released the 2018 National Trade Estimate report to secure Turkish market access for U.S. exporters. This report discusses the Turkish export market trade barriers and other trade distorting practices for the United States and impact on U.S. exporters. The U.S. goods trade surplus with Turkey was $330 million in 2017, a 75.4 percent […]...
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