Search Result for : Us Trade

The Dollar Business Bureau  Japan's exports increased at a fast pace in July, indicating a revival in demand from China, the US and Southeast Asia, though the prices rose faster compared to the volumes for several products.  Exports rose over 13% in July to 6.5 trillion yen ($59 billion) compared to a year earlier, according to a data released on Thursday.  On the other hand, the imports into the country rose 16% to 6.1 trillion yen ($55 billion), supported by an increase in the shipments of oil and coal, the data said.  This resulted in declining of trade surplus by 17% to 419 billion yen ($3.8 billion) compared to a year earlier.  “Trade actually dragged on growth in the world's third-largest economy in the April-June ...

The Dollar Business Bureau A US-based technology group Information Technology Industry Council (ITI) has prodded the Trump government to take steps in overcoming barriers in digital trade and alleged that various countries including China and India are biased in their policies which unfairly disadvantage US companies.  In addition, the technology group named countries like Canada, Indonesia, Russia, South Korea, Mexico and Vietnam, which have followed discriminatory policies against American companies.  “Multiple foreign governments have turned to discriminatory or otherwise harmful policies that unfairly disadvantage American companies and impede the ability of technology products and services to drive growth,” ITI said in a report to the President.  The countries in which rules that treat foreign and domestic companies differently are Colombia, China, India, Indonesia, Russia, South Korea and ...

The Dollar Business Bureau India’s proposal on Trade Facilitation Agreement (TFA) in Services at the World Trade Organisation (WTO) has got mixed response from the member nations, Commerce and Industry Minister Nirmala Sitharaman has informed the Parliament. India had circulated the proposed draft text on the TFA in Services at WTO in February this year. The draft has been discussed at relevant bodies of the WTO, said Sitharaman said in a written response to the Rajya Sabha. The proposal offers an outline for addressing various barriers to trade in services in a holistic and comprehensive manner, she said. “India’s proposal received a mixed response from the WTO members. Some members appreciated India’s proposal as being comprehensive in scope and well balanced,” the Minister said. “However, various developing and developed ...

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 ...

Aamir H Kaki  The modest and humble guar gum, a low-value crop grown on marginal land got transformed into one that can generate substantial income for farmers in recent years. The modest seed mostly harvested in the tropical regions of India (Rajasthan, Haryana and Gujarat) and Pakistan, used as a food crop for animals, gained international fame due to its viscosity. The innocuous looking seed/powder transformed into a product that can generate substantial income for processors, manufacturers, traders and farmers. Owing to its usefulness in food, paper, textile and in the gas and oil industries India’s export of guar gum powder, saw a steep increase from a mere $84.7 million in 2001-02 to $3,930 million in 2012-13, becoming the largest agricultural export ...

The Dollar Business Bureau The Association of American Railroads, America’s leading railroad policy, research, standard setting and technology organization of the rail industry has in its latest report confirmed that freight railroads are deeply connected to International Trade. The report reveals that at least 50,000 US Rail jobs , 35% of rail revenues and 42% of carloads and intermodal units are directly supported by international trade. The report which was released on March 29, says approximately 50,000 rail jobs accounting for more than $5.5 bn in annual wages and benefits depended directly on international trade emphasizing the need for trade agreements with countries and not rushed policy modifications as President Trump’s recent statements revealed. Many in the political circles agree that the data ...

PTI The UK today imposed a ban on carrying laptops as part of cabin baggage on Britain-bound passenger flights from six Muslim-majority countries, hours after US introduced a similar move citing terrorism concerns. The ban will cover around 14 airlines that operate direct flights from largely Muslim countries Turkey, Lebanon, Jordan, Egypt, Tunisia, Saudi Arabia. The UK restrictions also apply to tablets, DVD players and phones over certain size. "Direct flights to the UK from these destinations can continue to operate to the UK subject to new measures being in place. Travellers are advised to keep up-to-date with the latest FCO [Foreign and Commonwealth Office] travel advice and to check online with their chosen airline for further information," a UK government spokesperson ...

The Dollar Business Bureau The Trade Policy Agenda released by Trump administration for the year 2017 highlights the fast paced growth in US-India trade since 1980, when the total trade between the two nations was merely $4.8 billion. The US-India trade in goods and services has expanded by over 9% year-on-year to attain a figure of $109 billion in 2015, according to the document. The trade policy expresses optimism over future progress in bilateral relations, as India pushes through tax and economic reforms. The goods and services tax is welcomed, for it will lower transaction costs and integrate the internal Indian market. The annually released policy also said that India's new National Intellectual Rights Policy is expected to protect US ...