IMPORT & EXPORT
By Deborah Belgum | June 1, 2017
The demise of a free-trade agreement between the United States and several Asian countries is breathing new life into the Guatemalan apparel industry.
The Trump administration wants to beef up the U.S. Trade Representative’s budget by nearly 6 percent, add staff and launch bilateral negotiations with several major trading partners.
With a Washington, D.C., hearing coming up on June 27 to discuss possible changes to the North American Free Trade Agreement, the U.S. textile industry has put together a wish list of items it would like to see implemented.
With changes in the North American Free Trade Agreement in the wind, Los Angeles blue-jeans factories have been fielding more inquiries from denim labels thinking about switching production from Mexico to California.
Days after being sworn in as the new U.S. Trade Representative, Robert Lighthizer will be traveling to Vietnam to attend a meeting of trade ministers from the Asia-Pacific Economic Cooperation countries.
Trade experts were expecting a free-trade agreement between the United States and Europe to be signed, sealed and delivered by the time Barack Obama left the White House. But things didn’t turn out as planned as the political winds in Europe and the United States shifted recently from pro free trade to increased protectionism.
With unemployment hitting extremely low levels and workers’ wages rising, the nation’s ports should see a decent uptick in cargo-container volumes through at least September.
With political and economic change in the wind, longshore workers have agreed to vote on a three-year extension of their current contract expiring July 1, 2019.
With retail sales predicted to inch up around 4 percent this year, cargo container traffic should also see healthy growth this year.
Julie Hughes, president of the U.S. Fashion Industry Association, and Augustine Tantillo, president and chief executive officer of the National Council of Textile Organizations, discussed their group members’ view on everything from a proposed border tax on goods coming from Mexico to the fate of the Trans-Pacific Partnership at a recent live webcast.
A trade war over Europe limiting U.S. beef imports led the Obama administration last year to propose a set of retaliatory tariffs on mostly food-related goods coming from Europe.
President-elect Donald Trump has nominated Robert Lighthizer to become the new U.S. trade representative in charge of the country’s trade policy.
For years, Hanjin Shipping Co. was a major customer at the Port of Long Beach, accounting for 12 percent of the cargo containers that came through the Southern California terminus last year.
Fewer clothes were imported from China this year than last year as manufacturers headed to lower-wage countries such as Vietnam, India and Bangladesh to do more of their production.
The Trans-Pacific Partnership, a free-trade accord between the United States and 11 other Pacific Rim countries, was poised to be approved this year by the U.S. Congress. But election-year politics put an official end to that as both presidential candidates Hillary Clinton and Donald Trump made it known they would not back the trade pact.