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2nd Anniversary Edition
On October 1, 2007, the California Council for International Trade (CCIT) merged with the California Chamber of Commerce International Trade Committee to create the CalChamber Council for International Trade. The CalChamber Council for International Trade is California's voice on trade.
Upon creation of the merged Council, the Council for International Trade Update (CITU) was initiated. Each weekly CITU features international headlines, U.S. trade policy updates, relevant information compiled from a number of sources, CalChamber companies in the news, and a worldwide events calendar.
In honor of our second successful year, "Country Spotlight" will be added as a new periodic feature highlighting different trading partners of California.
Please take this opportunity of our second anniversary to forward this newsletter to your colleagues, clients, vendors, etc. who have an interest in international trade. We welcome them to e-mail us at firstname.lastname@example.org to receive this comprehensive trade update weekly at no cost.
CalChamber Promotes Trade with Chile
To help encourage bilateral trade and investment, the California Chamber of Commerce is participating in the California Trade Mission to Chile this week. CalChamber, October 2, 2009
Chile Announces 4.3 Percent Budget Increase for 2010
While other nations are struggling to cut costs and sacrificing social programs to combat the worldwide economic crisis, Chile´s 2010 budget will grow by 4.3 percent next year and includes a 5.8 percent increase in social assistance programs, Finance Minister Andrés Velasco announced Wednesday. Santiago Times, October 5, 2009
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.
California Coalition For Free Trade
The CalChamber Council for International Trade (CIT) is urging members of the business community to join(click here to download membership form) its coalition working to secure congressional approval of the free trade agreements (FTAs) with Colombia, Panama and South Korea. Companies .or associations that join the California Coalition for Free Trade will be included on the rapidly growing list of FTA supporters. There is no cost to join the coalition, which will keep members apprised of its activities and how to be supportive of the FTAs. For more information on the FTAs or to join the coalition, visit
CalChamber Public Affairs Council Retreat Oct. 28-30, 2009
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