Trade Update – October 22, 2024
Featured Headlines
New Zealand Ambassador Visits CalChamber
On Tuesday October 15, 2024, the California Chamber of Commerce was pleased to welcome Ambassador Rosemary Banks, New Zealand’s ambassador to the United States, and the new Consul General of New Zealand in Los Angeles, Katja Ackerly.
New Zealand is consistently ranked as the one of the easiest countries in which to do business and increasing FDI into New Zealand was one of the points of discussion – in addition to climate issues, AI, trade and economic relations, and the current geopolitical climate.
In 2023, The United States exported nearly $4.4 billion to New Zealand and in this same year, the U.S. imported nearly $5.4 billion worth of goods.
CalChamber Companies in the News
- Mars Picks Executive to Lead Digital Tech, Global Business Services
Food Processing, October 18, 2024 - General Motors to contribute $625 million to new JV with Lithium America
Reuters, October 18, 2024 - Akin Advises the Government of the Republic of Serbia on Largest Renewables and Battery Storage Investment in the Balkans and Southern Europe
Akin Gump Strauss Hauer & Feld LLP, October 18, 2024
Trade Policy
White House
- Statement from President Joe Biden Congratulating Indonesian President Prabowo on his Inauguration
The White House, October 20, 2024 - Readout of the Meeting of President Macron of France, Chancellor Scholz of Germany, Prime Minister Starmer of the United Kingdom, and President Biden of the United States
The White House, October 18, 2024
U.S. Department of Commerce
- Biden-Harris Administration Announces Preliminary Terms with Hemlock Semiconductor to Significantly Expand U.S. Production Capacity of Semiconductor-Grade Polysilicon
U.S. Department of Commerce, October 21, 2024 - US set to award Hemlock Semiconductor $325 million for polysilicon production
Reuters, October 21, 2024
U.S. Trade Representative
Readout of Ambassador Katherine Tai’s Meeting with Ministers from CARICOM Member States
United States Trade Representative, October 21, 2024
- Ambassador Tai to Travel to Brazil
United States Trade Representative, October 18, 2024
U.S. Department of Agriculture
- USDA flags potential biodiesel shortage due to rising coconut oil exports
Power Philippines, October 17, 2024
U.S. Department of Treasury
- Yellen Warns Against Using Tariffs to Wall Off US From World
Bloomberg, October 17, 2024 - U.S. Department of the Treasury Reaches Major Milestone, Approving Over $500 Million to Support Small Businesses in Tribal Nations
U.S. Department of the Treasury, October 17, 2024 - Remarks by Secretary of the Treasury Janet L. Yellen at the Council on Foreign Relations
U.S. Department of the Treasury, October 17, 2024
Export-Import Bank
- Graphite One lines up potential $325m Exim loan
Mining Weekly, October 21, 2024 - US pushes for special creditor status
Tribune, October 18, 2024
U.S. Trade and Development Agency
- USTDA Advances Freight Modernization in Brazil
USTDA, October 17, 2024
World Trade Organization
DG Okonjo-Iweala welcomes President Alar Karis of Estonia to the WTO
WTO, October 17, 2024
- DDG Ellard: Global cooperation through a strong WTO vital for economic resilience
WTO, October 18, 2024 - WTO Secretariat to support trade-focused events at COP29 in Baku
WTO, October 18, 2024 - Liechtenstein contributes to EIF Interim Facility to enhance LDC trade capacities
WTO, October 16, 2024
Trade Agreements/ Cooperation
Moldova’s Sandu scrapes knife-edge EU vote win after ‘unfair fight’
Reuters, October 21, 2024
Moldova voters narrowly approve referendum to join European Union
UPI News, October 21, 2024
- Cooperation with Ukraine getting stronger despite war, says Turkish foreign minister
AA, October 21, 2024 - IMF, World Bank meetings clouded by wars, slow economic growth, U.S. election
The Hindu, October 21, 2024 - Joint Press Release: First Partnership Dialogue between the Republic of Seychelles and the European Union
Zawya, October 21, 2024 - Pakistan, Indonesia ink $10.7 million trade agreements
The Express Tribune, October 21, 2024 - Green and digital economies to feature in Version 3.0 of China-Asean free-trade agreement
South China Morning Post, October 21, 2024 - OECD-backed group calls for global pact to solve water crisis
Reuters, October 16, 2024 - India and Canada see no impact on trade ties from diplomatic spat
Reuters, October 15, 2024
California
Flawed Premise Undermines Case for More Regulation of Markets
CalChamber, October 21, 2024
CalChamber and Strategic Partners Secure Big Wins for Business
CalChamber, October 18, 2024
CalChamber Best Business Votes 2024
CalChamber, October 18, 2024
CalChamber Vote Record: Major Bills 2024
CalChamber, October 18, 2024
Is the ‘Cargo Pendulum’ swinging back to West Coast Ports?
American Journal of Transportation, October 22, 2024
San Pedro Bay Ports Exceed 2023 Clean Air Targets: A Model of Environmental Leadership
Pacific Merchant Shipping Association, October 17, 2024
Garamendi Charts Bold Course for American Maritime Renaissance
GCaptain, October 16, 2024
More International Articles
The Surprising Resilience of Globalization: An Examination of Claims of Economic Fragmentation
Economic Strategy Group, October 2024
- Italian tech company Bending Spoons has eye on US for potential IPO
Reuters, October 21, 2024 - US Removes Sandvine From Trade Restriction List After Corporate Reforms
U.S. News, October 21, 2024 - Exports fall 2.9 pct during first 20 days of October despite strong chip sales
Korea Joongang Daily, October 21, 2024 - World Economy Fault Lines Shift From Prices to Politics and Debt
Bloomberg, October 20, 2024 - India plans laptop import curbs to boost local manufacturing, sources say
Reuters, October 18, 2024 - New Zealand triggers mandatory negotiations in dairy dispute with Canada
POST Online Media, October 21, 2024 - TSMC stock hits new high after forecast-beating earnings
Reuters, October 17, 2024 - Australia cashes in on beef exports as US cattle herd shrinks
American Journal of Transportation, October 17, 2024 - At BRICS summit, Russia to push to end dollar dominance
Reuters, October 16, 2024 - Global electricity demand to double by 2050, IEA’s World Energy Outlook says
Market Watch, October 16, 2024 - Inflows into Asian bonds slow on caution over US rate cuts, elections
Reuters, October 16, 2024