(People’s Daily Online)
From 2001 to 2009, U.S. exports to China increased 262.8 percent, while its overall exports growths was only 45.5 percent.
“China has become the United States’ fastest-growing overseas market,” said Yao Jian, spokesman of China’s Ministry of Commerce (MOFCOM) Wednesday.
Data from the U.S. government showed that its exports to China increased by 55.2 percent in the first two months of 2010, 38 percentage points higher than its overall exports growth.
In 2009, impacted by the global financial crisis, U.S. exports to China dipped only 0.22 percent and the trade deficit with China fell 15.4 percent, while its overall exports dropped nearly 18 percent.
“In 2009, among the U.S. automakers’ 10 largest overseas markets, China was the only one that witnessed growth. The U.S. aircraft producers’ exports to China grew 36.5 percent in 2009 while its total exports fell 1.8 percent,” said Yao. Read more here.
Showing posts with label U.S. Exports. Show all posts
Showing posts with label U.S. Exports. Show all posts
Thursday, April 15, 2010
U.S. Exports Could Double Under Obama Trade Plan
(San Antonio Business Journal)
Annual exports by companies in the greater San Antonio area already total more than $5 billion, but under President Obama’s National Export Initiative, local exporters should stand to benefit tremendously, said a top ranking Commerce Department official during a San Antonio visit.
Under Secretary of Commerce for International Trade Francisco Sanchez, who leads the International Trade Administration, said Wednesday that the president’s National Export Initiative is designed to double exports of U.S. goods and services during the next five years. […]
“Increasing U.S. exports is critical to our nation’s economic recovery and long-term economic growth,” Sánchez says. “The National Export Initiative is a single, comprehensive strategy to promote American exports and American jobs. It will coordinate and leverage the relevant public- and private-sector resources to push and promote the sale of American goods and services abroad.”
One of the aspects of this initiative is to help more companies extend their global reach by exporting to additional countries.
“About 58 percent of U.S. exporters export to only one market,” Sánchez adds. “Imagine the national benefit if by working together we can help companies export to two or more markets in a world in which 95 percent of their customers are outside our borders.” Read more here.
Annual exports by companies in the greater San Antonio area already total more than $5 billion, but under President Obama’s National Export Initiative, local exporters should stand to benefit tremendously, said a top ranking Commerce Department official during a San Antonio visit.
Under Secretary of Commerce for International Trade Francisco Sanchez, who leads the International Trade Administration, said Wednesday that the president’s National Export Initiative is designed to double exports of U.S. goods and services during the next five years. […]
“Increasing U.S. exports is critical to our nation’s economic recovery and long-term economic growth,” Sánchez says. “The National Export Initiative is a single, comprehensive strategy to promote American exports and American jobs. It will coordinate and leverage the relevant public- and private-sector resources to push and promote the sale of American goods and services abroad.”
One of the aspects of this initiative is to help more companies extend their global reach by exporting to additional countries.
“About 58 percent of U.S. exporters export to only one market,” Sánchez adds. “Imagine the national benefit if by working together we can help companies export to two or more markets in a world in which 95 percent of their customers are outside our borders.” Read more here.
Monday, April 12, 2010
Brokers Seek Exporter Imbalance Solution
(Journal of Commerce Online)
Trade group says members may be able to manage containers into better position
Freight brokers are studying whether they can help correct a steep imbalance in transportation equipment availability that is hurting efforts of U.S. exporters to get goods to overseas markets.
The Transportation Intermediaries Association asked executives at the group’s annual meeting last week in Tucson, Ariz., to look at whether its broker members can coordinate their transport management and information on shipments to help get ocean containers in better position for shippers at U.S. inland points to use them.
American exporters, particularly agriculture shippers, are showing growing frustration this year with the lack of the containers they need to get goods to gateways. Containership operators say they want to serve the U.S. export market. But rates for the shipments and pricing for imports remain too low, they say, and won’t support the cost of getting containers to export markets that are often far from inbound destination points. Read more here.
Trade group says members may be able to manage containers into better position
Freight brokers are studying whether they can help correct a steep imbalance in transportation equipment availability that is hurting efforts of U.S. exporters to get goods to overseas markets.
The Transportation Intermediaries Association asked executives at the group’s annual meeting last week in Tucson, Ariz., to look at whether its broker members can coordinate their transport management and information on shipments to help get ocean containers in better position for shippers at U.S. inland points to use them.
American exporters, particularly agriculture shippers, are showing growing frustration this year with the lack of the containers they need to get goods to gateways. Containership operators say they want to serve the U.S. export market. But rates for the shipments and pricing for imports remain too low, they say, and won’t support the cost of getting containers to export markets that are often far from inbound destination points. Read more here.
Friday, March 19, 2010
FMC Probes Capacity Issues
(International Freighting Weekly – Damian Brett)
Reports of shortages of space and containers sparks federal investigation
The US Federal Maritime Commission (FMC) has launched an investigation into ocean capacity and container availability as the country looks to double its exports over the next five years. The FMC announced the probe after reports of a shortage of space on ships and container availability raised concerns over “both the cause of the constraints and whether those constraints could hinder the nascent economic recovery”.
“The commission has received a growing number of reports that importers and exporters have had difficulty obtaining vessel space and containers, particularly in the US-Asia trades,” it said. FMC commissioner Rebecca Dye will lead the investigation. […]
Dye will issue an interim report of findings and recommendations by 15 June and her findings and recommendations by 31 July. Read more here.
Reports of shortages of space and containers sparks federal investigation
The US Federal Maritime Commission (FMC) has launched an investigation into ocean capacity and container availability as the country looks to double its exports over the next five years. The FMC announced the probe after reports of a shortage of space on ships and container availability raised concerns over “both the cause of the constraints and whether those constraints could hinder the nascent economic recovery”.
“The commission has received a growing number of reports that importers and exporters have had difficulty obtaining vessel space and containers, particularly in the US-Asia trades,” it said. FMC commissioner Rebecca Dye will lead the investigation. […]
Dye will issue an interim report of findings and recommendations by 15 June and her findings and recommendations by 31 July. Read more here.
Wednesday, March 17, 2010
Inconsistent Filing Penalties Can Leave U.S. Exporters Scratching Their Heads
(Lexology – Joan Koenig and Nicolas Guzman Drinker, Biddle & Reath LLP)
United States Customs and Border Protection (CBP) has begun enforcing the heightened civil penalties outlined in its January 2009 enforcement guidelines against parties who violate the export filing requirements of the Foreign Trade Regulations (FTR) of the Department of Commerce, Bureau of the Census (Census). As enforcement has ramped up, an apparent conflict has arisen between the final rule on the mandatory use of the Automated Export System (AES), published in June of 2008 by Census, and the Guidelines published in the Customs Bulletin for enforcement.
Specifically, CBP has begun imposing fines of up to $10,000 on shipments at the Southern Border when the required notification for those shipments is not given within the one-hour window required by the Census regulations, but the filing occurs same day. These heightened fines have been imposed on exporters because of a conflicting definition of “failure to file” between the Census regulations and the CBP Enforcement Guidelines. Read more here.
United States Customs and Border Protection (CBP) has begun enforcing the heightened civil penalties outlined in its January 2009 enforcement guidelines against parties who violate the export filing requirements of the Foreign Trade Regulations (FTR) of the Department of Commerce, Bureau of the Census (Census). As enforcement has ramped up, an apparent conflict has arisen between the final rule on the mandatory use of the Automated Export System (AES), published in June of 2008 by Census, and the Guidelines published in the Customs Bulletin for enforcement.
Specifically, CBP has begun imposing fines of up to $10,000 on shipments at the Southern Border when the required notification for those shipments is not given within the one-hour window required by the Census regulations, but the filing occurs same day. These heightened fines have been imposed on exporters because of a conflicting definition of “failure to file” between the Census regulations and the CBP Enforcement Guidelines. Read more here.
Thursday, March 11, 2010
Obama Announces Plan to Boost Exports
(Video: Bloomberg • Story: MSNBC)
President Obama announced a series of proposals aimed doubling U.S. exports over the next five years, a goal he set in his State of the Union address.
America is already the world’s No. 1 exporter and the White House intends to stay in the lead, said a senior administration official who briefed reporters on the president’s National Export Initiative ahead of the speech.
The president believes that increasing exports, along with strengthening the country’s education system and promoting clean energy jobs, are key to making sure America can compete in the 21st century global economy. Nationwide unemployment remains high at 9.7 percent as the country struggles to recover from the worst economic crisis since the Great Depression and Obama said doubling the nation’s exports will support two million jobs. […]
According to the official, most of the proposals that make up this export initiative can be done without legislation through the existing authority granted to agencies including the Commerce Department, the State Department, the office of the U.S. Trade Representative, the Export-Import Bank and the Small Business Administration. However, the proposal to increase funding for export promotion programs by $134 million is included in the budget for FY2011, which Congress must approve. Read more here.
Related:
• Obama to Create Export Task Force to Push Trade (NYT)
• Obama’s Speech on Export Policy (UPI)
President Obama announced a series of proposals aimed doubling U.S. exports over the next five years, a goal he set in his State of the Union address.
America is already the world’s No. 1 exporter and the White House intends to stay in the lead, said a senior administration official who briefed reporters on the president’s National Export Initiative ahead of the speech.
The president believes that increasing exports, along with strengthening the country’s education system and promoting clean energy jobs, are key to making sure America can compete in the 21st century global economy. Nationwide unemployment remains high at 9.7 percent as the country struggles to recover from the worst economic crisis since the Great Depression and Obama said doubling the nation’s exports will support two million jobs. […]
According to the official, most of the proposals that make up this export initiative can be done without legislation through the existing authority granted to agencies including the Commerce Department, the State Department, the office of the U.S. Trade Representative, the Export-Import Bank and the Small Business Administration. However, the proposal to increase funding for export promotion programs by $134 million is included in the budget for FY2011, which Congress must approve. Read more here.
Related:
• Obama to Create Export Task Force to Push Trade (NYT)
• Obama’s Speech on Export Policy (UPI)
Tuesday, March 9, 2010
New Normal Becomes Old Normal as Exports Propel U.S. Recovery
(Business Week – Rich Miller, Bloomberg)
The “new mix” is out to topple the “new normal” as the paradigm for America’s economic future.
The 5.9% annualized surge in fourth-quarter growth – the fastest since 2003 – was powered more by exports and business investment than the traditional drivers of consumption and housing. This new mix of demand will boost the economy by 3.7% in 2010 and pave the way for 3.5% annual average increases thereafter, said Joseph Carson, an economist at AllianceBernstein in New York, who coined the phrase.
His forecast contrasts with the 2% rate penciled in for later this year and the longer term by new-normal proponent Mohamed El-Erian, chief executive officer of Newport Beach, California-based Pacific Investment Management Co., who argues that growth will be depressed by consumer retrenchment and financial regulation. “What’s going to change is how we generate growth, not how fast we can grow,” Carson said in an interview. “That’s how I come up with a new mix rather than a new normal.” Read more here.
The “new mix” is out to topple the “new normal” as the paradigm for America’s economic future.
The 5.9% annualized surge in fourth-quarter growth – the fastest since 2003 – was powered more by exports and business investment than the traditional drivers of consumption and housing. This new mix of demand will boost the economy by 3.7% in 2010 and pave the way for 3.5% annual average increases thereafter, said Joseph Carson, an economist at AllianceBernstein in New York, who coined the phrase.
His forecast contrasts with the 2% rate penciled in for later this year and the longer term by new-normal proponent Mohamed El-Erian, chief executive officer of Newport Beach, California-based Pacific Investment Management Co., who argues that growth will be depressed by consumer retrenchment and financial regulation. “What’s going to change is how we generate growth, not how fast we can grow,” Carson said in an interview. “That’s how I come up with a new mix rather than a new normal.” Read more here.
Friday, January 29, 2010
Obama Sets Goal to Double Exports in 5 Years
(Washington Post – The Associated Press)
President Barack Obama is setting a goal of doubling exports over the next five years, contending that will support 2 million jobs at home. In his State of the Union address, Obama announced an initiative to help farmers and small businesses increase the goods they sell to overseas markets. He promised to reform export rules and seek new markets for U.S. goods but did not offer details.
He said reaping the benefits of trade also means that U.S. partners must “play by the rules.” Obama said he will keep pushing for a global trade pact and to boost relations with trading partners such as South Korea, Panama and Colombia. Read more here.
Related: Obama Sets Ambitious Export Goal (New York Times)
President Barack Obama is setting a goal of doubling exports over the next five years, contending that will support 2 million jobs at home. In his State of the Union address, Obama announced an initiative to help farmers and small businesses increase the goods they sell to overseas markets. He promised to reform export rules and seek new markets for U.S. goods but did not offer details.
He said reaping the benefits of trade also means that U.S. partners must “play by the rules.” Obama said he will keep pushing for a global trade pact and to boost relations with trading partners such as South Korea, Panama and Colombia. Read more here.
Related: Obama Sets Ambitious Export Goal (New York Times)
Tuesday, October 7, 2008
Export Rules Eased on Foreign-Made Goods with U.S.-Origin Components
(World Trade Interactive)
The Bureau of Industry and Security has revised its regulations on export controls for foreign-made items that incorporate controlled U.S.-origin goods (the de minimis rules). According to the BIS, this rule changes the de minimis calculation for foreign-produced hardware that is bundled with U.S.-origin software, clarifies the definition of “incorporate” as it is applied to the de minimis rules and the medical statement of understanding, removes the requirement to submit a one-time report for foreign-made software that incorporates U.S.-origin software, and revises the “Steps for Using the EAR” and General Prohibition Two with regard to the de minimis rules. This interim final rule is effective as of Oct. 1 and comments on it are due by Dec. 1. Read the complete article.
The Bureau of Industry and Security has revised its regulations on export controls for foreign-made items that incorporate controlled U.S.-origin goods (the de minimis rules). According to the BIS, this rule changes the de minimis calculation for foreign-produced hardware that is bundled with U.S.-origin software, clarifies the definition of “incorporate” as it is applied to the de minimis rules and the medical statement of understanding, removes the requirement to submit a one-time report for foreign-made software that incorporates U.S.-origin software, and revises the “Steps for Using the EAR” and General Prohibition Two with regard to the de minimis rules. This interim final rule is effective as of Oct. 1 and comments on it are due by Dec. 1. Read the complete article.
Sunday, July 20, 2008
Parts Makers Win Trade Dispute
(David Shepardson — Detroit News)
WTO rules that China’s hefty import tariffs discriminate against U.S. auto suppliers.
The World Trade Organization ruled Friday that China violated trade laws by hiking taxes on auto parts imported from the United States, — a decision that could boost struggling Canada and the European Union U.S. auto parts makers.
Critics of China’s policy said it encouraged suppliers to relocate to China, costing jobs in their home markets.
The “report leaves no doubt that China’s discriminatory treatment of U.S. auto parts has no place in the WTO system,” said U.S. Trade Representative Susan Schwab. “We will not stand idly by when China or any other country adopts regulations or industrial policies that tilt the playing field against American goods or services.”
Schwab’s office said U.S. auto suppliers set up operations in China so automakers could avoid hefty tariffs they had to pay if they used less than 51 percent Chinese-made parts in vehicles built in China. The policy has helped China’s auto parts companies, resulting in a steadily rising Chinese auto parts trade surplus.
Bob McKenna, president and CEO of the Motor Equipment Manufacturers Association, a trade group that represents many U.S. auto parts makers, said the WTO’s decision would “ensure a more level playing field for our products in China.”
The U.S. first objected to the Chinese policy in March 2006, and a hearing panel was formed in October. China has the right to appeal Friday’s decision, but an appeal likely would be resolved within six months.
It could take years before the United States would be allowed to impose economic sanctions on Beijing for failing to comply with the ruling. If it opts not to appeal, China has an undefined “reasonable period” to end the tariffs. If it does not, the United States would have to appeal to a separate WTO panel and win a ruling that China had not taken corrective action before it could impose sanctions. The process is designed to convince countries to work out their differences. Read the complete article.
WTO rules that China’s hefty import tariffs discriminate against U.S. auto suppliers.
The World Trade Organization ruled Friday that China violated trade laws by hiking taxes on auto parts imported from the United States, — a decision that could boost struggling Canada and the European Union U.S. auto parts makers.
Critics of China’s policy said it encouraged suppliers to relocate to China, costing jobs in their home markets.
The “report leaves no doubt that China’s discriminatory treatment of U.S. auto parts has no place in the WTO system,” said U.S. Trade Representative Susan Schwab. “We will not stand idly by when China or any other country adopts regulations or industrial policies that tilt the playing field against American goods or services.”
Schwab’s office said U.S. auto suppliers set up operations in China so automakers could avoid hefty tariffs they had to pay if they used less than 51 percent Chinese-made parts in vehicles built in China. The policy has helped China’s auto parts companies, resulting in a steadily rising Chinese auto parts trade surplus.
Bob McKenna, president and CEO of the Motor Equipment Manufacturers Association, a trade group that represents many U.S. auto parts makers, said the WTO’s decision would “ensure a more level playing field for our products in China.”
The U.S. first objected to the Chinese policy in March 2006, and a hearing panel was formed in October. China has the right to appeal Friday’s decision, but an appeal likely would be resolved within six months.
It could take years before the United States would be allowed to impose economic sanctions on Beijing for failing to comply with the ruling. If it opts not to appeal, China has an undefined “reasonable period” to end the tariffs. If it does not, the United States would have to appeal to a separate WTO panel and win a ruling that China had not taken corrective action before it could impose sanctions. The process is designed to convince countries to work out their differences. Read the complete article.
Friday, June 6, 2008
U.S. Wants to Expand C-TPAT Program to Include Exports
(Journal of Commerce via CSCB)
The United States and the governments of some of its major trading partners are slowly working toward developing mutual recognition of their trade security procedures.
To facilitate mutual recognition, Customs and Border Protection is trying to apply its Customs-Trade Partnership Against Terrorism (C-TPAT) program to exporters as well as importers, where its major focus has been to date.
Bradd Skinner, director of the C-TPAT industry partnership program, told the American Association of Exporters and Importers that Customs plans to ask its C-TPAT members for their input on applying the program to export procedures as well as to imports.
Skinner said a pilot program is being developed that will focus on export security but that it will not replace other export security programs.
He said one goal of the program would be to help the U.S. develop mutual recognition of security arrangements between its C-TPAT program and the European Union’s Authorized Economic Operators program, which applies to both imports and exports….
But Walter Boerman, vice president for Royal Philips Electronics, said the EU’s AEO program is still very much in the process of implementation. From his description, AEO has an even more complicated set of requirements than C-TPAT. It has different procedures for every different function in the supply chain, he said. “It requires a lot of paperwork. It’s not easy, and (EU) customs is behaving like accountants.”
Skinner said U.S. Customs is working on developing mutual recognition with several major U.S. trade partners. It has an agreement in place with New Zealand and agreements pending with Canada, and Jordan. It is also developing pacts with Japan, Singapore, Australia and Mexico.
The United States and the governments of some of its major trading partners are slowly working toward developing mutual recognition of their trade security procedures.
To facilitate mutual recognition, Customs and Border Protection is trying to apply its Customs-Trade Partnership Against Terrorism (C-TPAT) program to exporters as well as importers, where its major focus has been to date.
Bradd Skinner, director of the C-TPAT industry partnership program, told the American Association of Exporters and Importers that Customs plans to ask its C-TPAT members for their input on applying the program to export procedures as well as to imports.
Skinner said a pilot program is being developed that will focus on export security but that it will not replace other export security programs.
He said one goal of the program would be to help the U.S. develop mutual recognition of security arrangements between its C-TPAT program and the European Union’s Authorized Economic Operators program, which applies to both imports and exports….
But Walter Boerman, vice president for Royal Philips Electronics, said the EU’s AEO program is still very much in the process of implementation. From his description, AEO has an even more complicated set of requirements than C-TPAT. It has different procedures for every different function in the supply chain, he said. “It requires a lot of paperwork. It’s not easy, and (EU) customs is behaving like accountants.”
Skinner said U.S. Customs is working on developing mutual recognition with several major U.S. trade partners. It has an agreement in place with New Zealand and agreements pending with Canada, and Jordan. It is also developing pacts with Japan, Singapore, Australia and Mexico.
Tuesday, April 29, 2008
Bush on Free Trade & Exports
(U.S. Chamber of Commerce)
President Bush, speaking today at the U.S. Chamber Small Business Summit, on the slowdown in the economy, free trade agreements and the importance of exports and trade to economic growth.
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