Search Result for : Us Imports

The Dollar Business  Bureau  Key US-made consumer durable goods shipments showed an increase in June for the 5th consecutive month indicating that business spending on equipment has increased boosting the economic growth in the second quarter.  That the US economy is bettering gained weight as data gathered showed a sharp narrowing of the trade deficit in goods while there has been an increase in retail and wholesale inventories.  Government reports on the second quarter GDP estimates on Friday prompted economists to raise growth forecasts to 3.5% annual rate.  Voicing cautioned optimism, Chris Rupkey, the Chief economist at Mitsubishi UFJ Financial Group (MUFG), New York told reporters that, ‘the economy still has legs in this long expansion from the end of the recession. The ...

The Dollar Business Bureau  The US announced on Thursday the suspension of all beef product imports with immediate effect, from Brazil- the largest beef producing Latin American country- due to safety reasons. The decision was taken three months after a big scandal into the allegations of bribing meat inspectors hit the meat industry in Brazil and prompted various nations to halt imports temporarily. Since March this year, US inspectors have declined entry to 11% of fresh beef products from Brazil, around 1.9 million pounds, said US Agriculture Secretary Sonny Perdue in a statement to the media. “That figure is considerably higher as compared to the rejection rate of 1% of imports from other countries of the world,” he said. The suspension will continue to be ...

The Dollar Business Bureau In a recent telephonic conversation with the Canadian Prime Minister and Mexican President, Trump agreed to renegotiate NAFTA instead of scrapping the trilateral trade deal. On his twitter account, he stated, “I received calls from the President of Mexico and the Prime Minister of Canada asking to renegotiate NAFTA rather than terminate. I agreed – subject to the fact that if we do not reach a fair deal for all, we will then terminate NAFTA. Relationships are good-deal very possible!” Many on either side of the border are breathing a sigh of relief as Trump softens his stance on termination of the deal which is more than two decades old. However, Trump continues to stress that the deal was ...

The Dollar Business Bureau  Some of the world’s biggest meat consuming countries have slapped restrictions on meat being exported from Brazil’s food conglomerates JBS S.A. and ERF. China, EU, Chile, Hong Kong have temporarily suspended the meat shipments from the country as news reports from Brazil’s federal authorities revealed bribery investigations into the approval of spoiled meat. Other countries like Singapore, South Korea and Qatar were guarded and monitoring the meat shipments arriving from the South American country official news reports revealed. Brazil’s federal authorities revealed five days ago, that the investigations are continuing on the allegations that JBS S.A. and BRE S.A. had bribed government officials to endorse the sale and export of contaminated meat. Some of the meat including cold ...

The Dollar Business Bureau The Defend Trade Secrets Act of 2016 (DTSA) that was passed by the US Congress last month is expected to be signed by President Obama very soon. This act has come mostly because of the congressional concerns over the global economic espionage. According to legal experts, the weak protection of trade secrets within the purview of the World Trade Organization (WTO) is the main reason for the congressional demand for action on this law. Also there is no organisation, international law or treaty to protect the trade secrets. Scott McDonald and Jackie Johnson, attorneys at a law firm Littler Mendelson informed that the US has partly gained support from international jurisdictions in preserving trade secrets. This is mainly because ...

 @TheDollarBiz Every third tablet consumed in the World is ‘Made in India’ - Indian Drugs Manufacturers' Association (IDMA)   As planned earlier this year, the US Trade Representative (USTR) has started an Out-of-Cycle Review (OCR) of India for its 301 paper (Section 301 of the US Trade Act of 1974) which has India on a “Priority Watch List” on issues concerning protection of US Intellectual Property Rights (IPR) in India. The first 301 report, then called a “Fact Sheet,” was published in 1989 and had eight countries on the "Priority Watch List" and 17 on the "Watch List". Since then, countries such as Italy, South Korea and the Philippines have been removed from the lists, but India remains stuck, mainly due ...

Bidhu Bhushan Palo | @TheDollarBiz The US Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) has made it mandatory that live dogs that are imported into the country for resale must be vaccinated, in good health, and over six months of age. The move follows continued criticism by animal welfare organisations that not enough was being done to stop the suffering of imported dogs. The Humane Society of United States says that prior to the ruling, thousands of puppies, often a few weeks old, were made to suffer while being transported to USA and many died during transit. The new rule is expected to address such concerns. According to Kevin Shea, APHIS Administrator, the amendment reflects the ...