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Next Trade Update
Tuesday, August 17
US urged to bolster Latin American trade pacts
As the world economy limps, the United States should sprint to sign new trade agreements with its Latin American neighbors, panelists at the Biennial of the Americas' Roundtable on Trade said Monday. Denver Post, July 13, 2010
US Trade Deficit Widens to $42.3 Billion in May The U.S. trade deficit widened in May to the highest level in 18 months as a rebounding economy pushed up demand for imports of foreign-made cars, computers and clothing. The trade deficit increased 4.8 percent to $42.3 billion, the largest imbalance since November 2008, the Commerce Department reported Tuesday. San Francisco Chronicle, July 13, 2010
EU: Estonia Can Join Euro Next Year
European Union nations on Tuesday gave final approval for Estonia to become the 17th country to join the euro, a boost for the tiny Baltic country and a sign of confidence in the troubled currency union. EU finance ministers said the nation of 1.3 million can join on Jan. 1, 2011.
San Diego Union-Tribune, July 13, 2010
West is the Best Site Selection Magazine, June 2010
The following bills are related to international trade and have been introduced in the California State Legislature in the 2009-2010 Legislative Session.
Any CalChamber position is noted on the CalChamber Legislative website:
AJR 27 (Torrico; D- Fremont)
Colombia-U.S. Free Trade Agreement
A California Assembly Joint Resolution opposing the U.S. - Colombia FTA, would cast the FTA and Colombia in an unproductive light if it were to pass. Colombia is an important trading partner with California and the United States and also a partner in stopping drug trafficking.
SB 657 (Steinberg; D-Sacramento)
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.
For Free Trade
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. Join or Learn More
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