The U.S.-Korea Business Council held a joint meeting with its Korean counterpart organization, the Korea-U.S. Business Council, in California on February 5-6. The main focus of discussion was on prospects for approval of the U.S.-Korea FTA by Congress and on strategies for building support for the agreement in the United States.
The CalChamber also participated.
L.A. and Long Beach Ports See 1.6% Gain in Cargo Traffic
Cargo traffic at the nation's busiest seaport complex increased in January, the second straight month in which cargo levels improved at the ports of Los Angeles and Long Beach compared with a year earlier. Los Angeles Times, February 17, 2010
State exports rally at year's end
California exports rose 12 percent in December compared with the last month of 2008, according to statistics released Wednesday by the University of California Center Sacramento. Sacramento Bee, February 11, 2010
-Suresh Kumar, to be Assistant Secretary of Commerce and Director General of the United States and Foreign Commercial Service,
-Nicole Yvette Lamb-Hale, to be an Assistant Secretary of Commerce,
-David W. Mills, to be an Assistant Secretary of Commerce
-Kevin Wolf, to be an Assistant Secretary of Commerce.
U.S. Commerce Secretary Press Releases:
The “Small Business Int’l Trade Enhancements Act of 2009” (S. 1196 – Senator Mary L. Landrieu D-LA),which would increase the total amount of available trade financing, adjust collateral requirements, and encourage better collaboration on small business export assistance among federal government agencies.
The “Small Business Export Opportunity Act of 2009” (S. 1208 – Senator Olympia Snowe R-ME ) , which would create a new Office of Small business Export Development and Promotion at the Small Business Administration. It would also increase the maximum export loan amount and create a grant program that matches funds for expenses incurred by small businesses that are actively working to start or expand export activities.
The “Trade Reform, Accountability, Development, and Employment (TRADE) Act” (H.R. 3012 - Congressman Mike Michaud D-ME), which would generate additional bureaucratic reporting requirements relating to international trade agreements on top of those that already exist, was introduced in the House on June 24, 2009. This legislation would place new roadblocks to future trade agreements intended to lower foreign taxes on U.S. exports and require the renegotiation of existing trade agreements. Senator Sherrod Brown (D-OH) is expected to introduce companion legislation in the Senate in July.
International Tax Proposal The proposal would raise taxes on U.S. companies doing business overseas. The limitation or repeal of deferral, as proposed by the Obama administration, would impose a unilateral tax on the foreign earnings of American companies, upsetting the competitive balance between U.S. and foreign companies. This will result in a loss of jobs for Americans and serious negative impacts on the U.S. economy. Oppose.
SB 657 (Steinberg; D-Sacramento) Human Trafficking
Mandates that “every retail seller and manufacturer doing business in this state” develop, maintain, and implement a policy addressing the eradication of slavery and human trafficking from their supply chain. The bill inappropriately makes California employers responsible for the actions of businesses with which they have no contractual relationship, are located in other countries, and could be engaged in activities that may best be handled on a diplomatic level.
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A broad-based group of companies and business organizations working to secure a national free trade agenda, as well as, seeking approval of the Free Trade Agreements with Colombia, Panama, and South Korea.
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