Top Stories: Border Closing Affects Importers
AAEI Protests Border Closing between DR and Haiti AAEI joined other trade organizations last week in sending Dominican Republic President Luis Abinader a letter urging him to re-open the border with Haiti, which represents “an important market for the U.S. textile industry, with the Dominican Republic… currently positioned as the second largest market for U.S. […]
Top Stories: Shutdown Appears Likely
AAEI Publishes Tool for Trade in Event of Shutdown A partial government shutdown looks more likely after the House rejected the Senate’s stopgap funding bill this week. Unless a last-minute deal is reached, the government will be forced to shut down for the fourth time in the last ten years. Government services that are deemed […]
Top Stories: GSP Renewal?
Importers Urge Congress to Renew GSP The House Ways and Means Trade Subcommittee held a hearing today on reforming the Generalized System of Preferences (GSP) to safeguard U.S. supply chains and combat China. The witness testimonies favored renewing the GSP to support economic development, improve environmental and labor standards, and create secure supply chains. Ed […]
Top Stories: A Case for Re-Globalization
WTO’s 2023 World Trade Report Calls for “Re-Globalization” The World Trade Organization (WTO) released its 2023 World Trade Report, urging “re-globalization” in response to signs of trade fragmentation. The report highlights the benefits of broader economic integration and global cooperation to address security, poverty, inequality, and environmental sustainability issues. Despite emerging trade tensions, the report […]
Top Stories: Partnership with Vietnam
Biden to Visit Vietnam after G20 Summit President Biden will visit Vietnam early next week, following the G20 Summit in India. His diplomatic discussions in Vietnam will include business opportunities in the energy and semiconductor industries. The White House has been preparing for the visit for months as the U.S. tries to strengthen its economic […]
Top Stories: Easing Tension with China
US and China Agree on Initiatives to Stabilize Economic Relationship U.S. Commerce Secretary Gina Raimondo wrapped up her 4-day trip to China this week saying she hoped to soon see results from the visit. She called on China to provide fair and transparent treatment of U.S. companies. The U.S. and China agreed to form working […]
Top Stories: Climate Risk for Trade
Panama Canal Water Levels Causing Congestion, Delays Panama is the world’s fifth-wettest country. But rainfall shortages prompted the Panama Canal Authority (APC) to limit ship weights and daily crossings, restricting the number of daily transits to 32 vessels a day. Options for cargo ship owners include carrying less cargo, rerouting their routes, or wait in […]
Top Stories: Audit Reveals Forced Labor
WTO Rules Against China Retaliatory Tariffs On US Imports World Trade Organization (WTO) experts ruled on Wednesday that China’s tariffs imposed on US imports as retaliation for American steel and aluminum tariffs violate international trade rules. The panel, set up to address disputes in the ongoing trade war between the two nations, found China’s additional […]
Top Stories: No FTZs Allowed?
AAEI Responds to New CBP Rule on Use of FTZs AAEI is calling on U.S. Customs and Border Protection (CBP) to reevaluate its decision, announced last week in a Cargo Systems Messaging Service (CSMS) message, prohibiting importers from using Foreign Trade Zones (FTZs) to store detained shipments under investigation for forced labor. CBP says the […]
Top Stories: Expanded UFLPA Entity List
U.S. Adds Two Companies to UFLPA Entity List The Department of Homeland Security (DHS) added two companies to the Uyghur Forced Labor Prevention Act’s (UFLPA’s) Entity List. Goods produced by Camel Group Co., Ltd., Chenguang Biotech Group Co., Ltd. and its subsidiary Chenguang Biotechnology Group Yanqi Co. Ltd., will be restricted from entering the U.S. […]