Suppliers to two blacklisted Chinese companies—telecom giant Huawei and China’s top chipmaker SMIC—were approved to receive billions of dollars worth of licenses for U.S. technologies shipments between November and April, documents released by the House Committee on Foreign Affairs on Oct. 21 detail. Some 301 licenses worth a total of $103 billion were approved for…
Billions Worth of American Tech Licenses Approved for Blacklisted Chinese Companies
October 21, 2021
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Mexico’s Agriculture Minister Say Mexico Will Not Limit GMO Corn Imports From US
ANKENY, Iowa—Mexico’s agriculture minister said the country would not limit imports of genetically modified (GMO) corn from the United States during a meeting with U.S. Agriculture Secretary Tom Vilsack in Iowa on Wednesday. Mexico published an executive order late last year that sought to ban in three years the use of GMO corn for human…
US Committed to WTO and Wants It to Succeed, Trade Representative Tai Says
October 14, 2021
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GENEVA—Top U.S. trade negotiator Katherine Tai on Thursday affirmed the Biden administration’s commitment to the World Trade Organization (WTO), saying consensus was possible on several trade and health proposals at a major meeting next month. The 25-year-old global trade body is facing questions about its relevance and director-general Ngozi Okonjo-Iweala is under pressure to deliver…
China Presses US to Cancel Tariffs in Virtual Meeting
October 9, 2021
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China’s top trade negotiator Liu He pushed his U.S. counterpart Katherine Tai to cancel trade tariffs in a virtual meeting on Oct. 9 as the world’s biggest economies kick off negotiations following a lengthy break. During the virtual talk, the Chinese side “negotiated over the cancellation of tariffs and sanctions, and clarified position on China’s…
Canada’s Trade Surplus Widens in August as Imports Fall
OTTAWA—Canada’s trade surplus with the world widened in August, easily beating analyst expectations, as strong exports of energy products outweighed a drop in a two-way trade for motor vehicles and parts, data showed on Tuesday. The country’s trade surplus was C$1.94 billion ($1.54 billion) in August, well ahead of the average analyst estimate of a…
Canada Shrugs at China’s Application to Join Pacific Rim Trade Agreement
OTTAWA—Canada is giving China the cold shoulder over its interest in joining an 11-country Pacific Rim trading bloc that is viewed as an important gateway to diversifying Canadian trade with other Asian countries. A spokesman for International Trade Minister Mary Ng says Canada is aware of China’s desire to join the Comprehensive and Progressive Agreement…
Australia’s Trade Surplus Surprises With Record High on Commodity Demand
SYDNEY—Australia’s trade surplus unexpectedly grew to a record in August as strength in liquefied natural gas and coal exports more than offset a pullback in iron ore prices, a windfall to mining profits and tax receipts. Figures from the Australian Bureau of Statistics out on Tuesday showed the surplus on international trade jumped to A$15.1…
Biden’s New China Trade Plan Seeks to Enforce Trump-Era Trade Deal, Unwind Some China Tariffs
Top U.S. trade negotiator Katherine Tai on Oct. 4 vowed to unwind some Trump-era tariffs on Chinese goods, and press the Chinese regime for “frank” talks in a bid to end Beijing’s unfair trade practices. Over the past decades, Beijing has poured billions in state subsidies into targeted industries such as steel, solar, and agriculture,…
US Trade Chief Tai to Unveil Biden’s China Trade Strategy on Monday
October 1, 2021
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WASHINGTON—U.S. Trade Representative Katherine Tai will unveil the Biden administration’s long-awaited strategy for the troubled U.S.–China trade relationship in a speech on Monday at a Washington think tank, her office said. Tai will deliver remarks on her review of China trade policy at the Center for Strategic Studies in Washington and participate in a question-and-answer…
US Consumer Confidence Hits Seven-Month Low; Goods Trade Deficit Widens
WASHINGTON—U.S. consumer confidence fell to a seven-month low in September as a relentless rise in COVID-19 cases deepened concerns about the economy’s near-term prospects, fitting in with expectations for a slowdown in growth in the third quarter. The survey from the Conference Board on Tuesday showed consumers less interested in buying a home and big-ticket…
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