(Bloomberg)
Jim McNerney, chief executive officer of Boeing Co., talks about a World Trade Organization ruling against some of the financial aid Airbus SAS has received for aircraft development. McNerney also discusses President Obama’s efforts to boost U.S. exports.
Wednesday, July 7, 2010
Obama Says New Export Initiative Off to Good Start
(Video: C-SPAN2 via MoxNews • Story: AP)
President Barack Obama declared good progress Wednesday on his pledge to double U.S. exports over the next five years, saying the nation’s sales abroad were up 17 percent in first four months of this year.
Speaking at the White House to a gathering of government and corporate officials, Obama said his administration is “bringing to bear the full resources of the United States government.”
“Our efforts are off to a solid start,” he said.
Obama has been emphasizing his efforts on the economy with increasing frequency lately, as fears rise that the nation’s already fragile recovery is weakening and perhaps headed to a second recession. Later in the week, he is scheduled to talk on the economy twice more, on a trip to Missouri and Nevada.
The topic of exports is especially important because the recovery has been driven far more by sales abroad and business and government spending than it has by consumer spending. And with critical midterm elections drawing closer, the White House want to burnish the administration’s image on the job-creation front. Read more here.
Related: The Grip of the Old Economy (Huffington Post)
Diversify Our Trade? Go Right Ahead!
(Ottawa Citizen – William Watson)
Listening to CFRA on July 4th, I heard one of this country’s better-known financial analysts celebrate the 234th anniversary of the Americans’ declaration of their independence by arguing that, because the U.S. is now a falling economic star, it is imperative we Canadians reduce our economic dependence on them. To that end, we should set a goal of reducing our American trade from 80 per cent of our total trade to 60 per cent.
As an economist, it makes my head spin to hear such talk from supposedly reputable people.
First of all, though this is a technicality, we’re close to the goal already. Last year trade with the U.S. was just 64% of our total trade. That was down sharply from 82% in 2008 – a much more typical year. Though it might be aesthetically pleasing to have international trade statistics that are less lopsided, I suspect just about all Canadians would prefer to avoid years in which exports to the U.S. plummet by $100 billion, as they did from 2008 to 2009, the most disastrous year for international trade since the 1930s.
But last year probably was exceptional: For the last several years our trade with the U.S. has been running at just above or just below 80% of our total trade. Read more here.
Listening to CFRA on July 4th, I heard one of this country’s better-known financial analysts celebrate the 234th anniversary of the Americans’ declaration of their independence by arguing that, because the U.S. is now a falling economic star, it is imperative we Canadians reduce our economic dependence on them. To that end, we should set a goal of reducing our American trade from 80 per cent of our total trade to 60 per cent.
As an economist, it makes my head spin to hear such talk from supposedly reputable people.
First of all, though this is a technicality, we’re close to the goal already. Last year trade with the U.S. was just 64% of our total trade. That was down sharply from 82% in 2008 – a much more typical year. Though it might be aesthetically pleasing to have international trade statistics that are less lopsided, I suspect just about all Canadians would prefer to avoid years in which exports to the U.S. plummet by $100 billion, as they did from 2008 to 2009, the most disastrous year for international trade since the 1930s.
But last year probably was exceptional: For the last several years our trade with the U.S. has been running at just above or just below 80% of our total trade. Read more here.
Tuesday, July 6, 2010
U.S. Likely to Miss Air Cargo Scanning Deadline
(Journal of Commerce Online – R.G.Edmonson)
GAO cites some progress but doubts TSA can make Aug. 3 goal for 100% screening
The Transportation Security Administration has made progress toward its goal of scanning all air cargo on domestic passenger flights by August 3, but the Government Accountability Office says it doubts the agency can make the deadline.
In testimony Wednesday before the House Homeland Security Committee, Steve Lord, GAO director of homeland security and justice issues, said that TSA lacked a contingency plan to initiate if it does not reach the deadline set by Congress three years ago. Read more here.
GAO cites some progress but doubts TSA can make Aug. 3 goal for 100% screening
The Transportation Security Administration has made progress toward its goal of scanning all air cargo on domestic passenger flights by August 3, but the Government Accountability Office says it doubts the agency can make the deadline.
In testimony Wednesday before the House Homeland Security Committee, Steve Lord, GAO director of homeland security and justice issues, said that TSA lacked a contingency plan to initiate if it does not reach the deadline set by Congress three years ago. Read more here.
Monday, July 5, 2010
New Exporters to Border States (NEBS) Mission to Buffalo – July 21-22, 2010
(DFAIT)
You are cordially invited to participate in the next NEBS Mission to Buffalo on Wednesday, July 21 and Thursday, July 22, 2010.
NEBS is a practical, cost-effective program ideally suited to give Ontario manufacturers, distributors, agents and other business professionals the tools they need to easily expand their business interests across the border. The NEBS program offers guidelines to Ontario businesses for USA sales, shipping and business transactions.
Expert briefings on a range of topics include dealing with border issues such as U.S. business travel and immigration requirements, currency exchange options, business planning, taxation, and legal considerations and U.S. Customs clearance procedures. Participants will visit a fulfillment warehouse in Buffalo. In addition, a briefing on provincial and federal trade programs and services will be provided along with one-on-one meetings with the trade commissioners at the Canadian Consulate in Buffalo.
NEBS is run by the International Trade Branch of the Ministry of Economic Development and Trade in co-operation with the Canadian Consulate General in Buffalo.
If your company has been in business for at least one year and has a manufacturing or service base in Ontario and you are interested in obtaining additional information on this program, please complete the form here and fax it back to the fax number provided.
What people are saying about the NEBS program:
“For anyone even remotely thinking of exporting, NEBS will make you aware of key issues and how to tackle them – like regulations, border issues, NAFTA compliance, and even insuring your receivables.” (Alison Prentice – Creo Mundi)
“A super program, which really helped us to understand the behind-the-scenes exporting process” (R. Schmind – ThinkNet Inc.)
“A first-class workshop with informative, knowledgeable speakers, lot’s of literature, and contact names and numbers for future reference.” (Mary-Lynn Banks – Ron Bankes Marines Services)
You are cordially invited to participate in the next NEBS Mission to Buffalo on Wednesday, July 21 and Thursday, July 22, 2010.
NEBS is a practical, cost-effective program ideally suited to give Ontario manufacturers, distributors, agents and other business professionals the tools they need to easily expand their business interests across the border. The NEBS program offers guidelines to Ontario businesses for USA sales, shipping and business transactions.
Expert briefings on a range of topics include dealing with border issues such as U.S. business travel and immigration requirements, currency exchange options, business planning, taxation, and legal considerations and U.S. Customs clearance procedures. Participants will visit a fulfillment warehouse in Buffalo. In addition, a briefing on provincial and federal trade programs and services will be provided along with one-on-one meetings with the trade commissioners at the Canadian Consulate in Buffalo.
NEBS is run by the International Trade Branch of the Ministry of Economic Development and Trade in co-operation with the Canadian Consulate General in Buffalo.
If your company has been in business for at least one year and has a manufacturing or service base in Ontario and you are interested in obtaining additional information on this program, please complete the form here and fax it back to the fax number provided.
What people are saying about the NEBS program:
“For anyone even remotely thinking of exporting, NEBS will make you aware of key issues and how to tackle them – like regulations, border issues, NAFTA compliance, and even insuring your receivables.” (Alison Prentice – Creo Mundi)
“A super program, which really helped us to understand the behind-the-scenes exporting process” (R. Schmind – ThinkNet Inc.)
“A first-class workshop with informative, knowledgeable speakers, lot’s of literature, and contact names and numbers for future reference.” (Mary-Lynn Banks – Ron Bankes Marines Services)
Indicators Give Mixed Signals for Logistics Market
(Transport Intelligence – Thomas Cullen)
It is hard not to be puzzled by the state of the global logistics market. On the one hand key freight transport markets continue to grow at remarkable rates even as they approach pre-recession levels of demand. On the other hand, indicators coming out of the wider economy are suggesting lower growth for the near term. Read more here (subscription required).
It is hard not to be puzzled by the state of the global logistics market. On the one hand key freight transport markets continue to grow at remarkable rates even as they approach pre-recession levels of demand. On the other hand, indicators coming out of the wider economy are suggesting lower growth for the near term. Read more here (subscription required).
Vessel Capacity Increasing but Container Shortages Still a Problem for U.S. Exporters
(STR/World Trade Interactive)
Two Federal Maritime Commission officials recently told a House subcommittee that while vessel carriers are beginning to increase their capacity for carrying imports and exports there continues to be a shortage of cargo containers available to U.S. exporters. The FMC is currently conducting an investigation into these issues, prompted by concerns that an effort to double U.S. exports over the next five years could be hindered by a decline in the availability of vessels and containers associated with the recent global economic downturn.
Commissioner Rebecca Dye, who is leading the FMC’s investigation, told the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation June 30 that earlier this year import volumes rebounding from a dramatic decline in 2008 and 2009 “collided with previous vessel capacity reductions,” resulting in a “supply and demand mismatch” that created serious supply chain disruptions for U.S. importers and exporters. In recent months some carriers have announced decisions to increase vessel capacity in several U.S. trade lanes, particularly the U.S.-Asia trades, but there is concern that “growth in demand for container imports and exports in the upcoming peak shipping season may strain current vessel capacity.” Read more here.
Two Federal Maritime Commission officials recently told a House subcommittee that while vessel carriers are beginning to increase their capacity for carrying imports and exports there continues to be a shortage of cargo containers available to U.S. exporters. The FMC is currently conducting an investigation into these issues, prompted by concerns that an effort to double U.S. exports over the next five years could be hindered by a decline in the availability of vessels and containers associated with the recent global economic downturn.
Commissioner Rebecca Dye, who is leading the FMC’s investigation, told the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation June 30 that earlier this year import volumes rebounding from a dramatic decline in 2008 and 2009 “collided with previous vessel capacity reductions,” resulting in a “supply and demand mismatch” that created serious supply chain disruptions for U.S. importers and exporters. In recent months some carriers have announced decisions to increase vessel capacity in several U.S. trade lanes, particularly the U.S.-Asia trades, but there is concern that “growth in demand for container imports and exports in the upcoming peak shipping season may strain current vessel capacity.” Read more here.
Talks Resume but Progress Slow in LA Port Strike
(The Associated Press)
There has been “little progress” despite hours of late-night and weekend talks between striking clerical workers and shipping companies at the nation’s busiest port, negotiators said Saturday.
Stephen Berry, lead negotiator for the Harbor Employees Association, which represents the shippers, said talks for much of the strike’s third day at the ports of Los Angeles and Long Beach stalled over union demands he said would “force employers to hire temporary and permanent workers even when there is no work for them to perform.” Berry said in a statement that the provisions sought were “unacceptable, and run counter to the employers’ efforts to reach fair and reasonable contracts.” Read more here.
There has been “little progress” despite hours of late-night and weekend talks between striking clerical workers and shipping companies at the nation’s busiest port, negotiators said Saturday.
Stephen Berry, lead negotiator for the Harbor Employees Association, which represents the shippers, said talks for much of the strike’s third day at the ports of Los Angeles and Long Beach stalled over union demands he said would “force employers to hire temporary and permanent workers even when there is no work for them to perform.” Berry said in a statement that the provisions sought were “unacceptable, and run counter to the employers’ efforts to reach fair and reasonable contracts.” Read more here.
Friday, July 2, 2010
News from TAHOCO: Weekly Updates
An updated list of recently published US government memorandums, notices, regulations and decisions for the week ending July 2, 2010 is now available on our website here.
Bill Could Be Obstacle for Foreign Devicemakers
(FDA News)
A bill intended to protect U.S. consumers from faulty imports could discourage foreign devicemakers from marketing their products in the country. The Foreign Manufacturers Legal Accountability Act, H.R. 4678, would make it easier for consumers to sue foreign manufacturers by requiring companies to have a U.S. registered agent authorized to accept service of process or other legal documents. Although the bill is in response to faulty drywall imported from China, it will impose new regulations on a wide range of companies, including devicemakers.
Read more here (subscription required).
A bill intended to protect U.S. consumers from faulty imports could discourage foreign devicemakers from marketing their products in the country. The Foreign Manufacturers Legal Accountability Act, H.R. 4678, would make it easier for consumers to sue foreign manufacturers by requiring companies to have a U.S. registered agent authorized to accept service of process or other legal documents. Although the bill is in response to faulty drywall imported from China, it will impose new regulations on a wide range of companies, including devicemakers.
Read more here (subscription required).
Bill Would Hold Foreign Manufacturers Liable For Product Injuries
(Dayton Daily News)
A U.S. House subcommittee has approved legislation that would hold foreign manufacturers legally accountable to American consumers injured by dangerous or defective products.
The vote on Wednesday, June 30, by the House subcommittee on commerce, trade and consumer protection sent the legislation to the full committee for consideration, said U.S. Rep. Mike Turner, R-Centerville. Turner and Rep. Betty Sutton, D-Ohio, sponsored the bill. Read more here.
A U.S. House subcommittee has approved legislation that would hold foreign manufacturers legally accountable to American consumers injured by dangerous or defective products.
The vote on Wednesday, June 30, by the House subcommittee on commerce, trade and consumer protection sent the legislation to the full committee for consideration, said U.S. Rep. Mike Turner, R-Centerville. Turner and Rep. Betty Sutton, D-Ohio, sponsored the bill. Read more here.
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