Japan says U.S. has not raised FX manipulation in trade talksThe Saigon Times Daily Taro Aso, Japan's Deputy Prime Minister, speaks at the official opening of Japan House in London, Britain, September 13, 2018 – PHOTO: REUTERS TOKYO (REUTERS) - The U.S. government had not spoken to Japan about including provisions in free trade agreements to deter currency manipulation, Japanese Finance Minister Taro Aso said on Tuesday, although the two sides are likely to enter talks sometime next year. Aso’s comments come after U.S. Treasury Secretary Steven Mnuchin said on Saturday that Washington wants to include such provisions in future trade deals, including the one it will negotiate with Japan. The new provisions would be based on the currency chapter in Washington’s new deal to revamp its trade pact with Canada and Mexico, which urges members to refrain from competitive devaluation. Mnuchin’s remarks have raised concerns that the Japanese government’s … [Read more...] about Japan says U.S. has not raised FX manipulation in trade talks
U s exports to mexico
U.S. Commerce’s Ross eyes anti-China ‘poison pill’ for new trade deals
U.S. Commerce's Ross eyes anti-China 'poison pill' for new trade dealsThe Saigon Times Daily U.S. Secretary of Commerce Wilbur Ross answers questions during an interview with Reuters in his office at the U.S. Department of Commerce building in Washington, U.S., October 5, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - U.S. Commerce Secretary Wilbur Ross signalled on Friday that Washington may flex its muscle with additional trading partners in order to exert pressure on China to open its markets, saying that a “poison pill” provision in the recently completed pact with Canada and Mexico could be replicated. Ross said in an interview that the provision was “another move to try to close loopholes” in trade deals that have served to “legitimize” China’s trade, intellectual property and industrial subsidy practices. The United States is now in the early stages of talks with Japan and the European Union to lower tariff and regulatory … [Read more...] about U.S. Commerce’s Ross eyes anti-China ‘poison pill’ for new trade deals
Canada, U.S. reach deal to save NAFTA as trilateral trade pact
Canada, U.S. reach deal to save NAFTA as trilateral trade pact The Saigon Times Daily Chevrolet Equinox SUVs are parked awaiting shipment by CN Rail next to the General Motors Co (GM) CAMI assembly plant in Ingersoll, Ontario, Canada October 13, 2017 – PHOTO: REUTERS OTTAWA/WASHINGTON (REUTERS) - The United States and Canada reached a deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, beating a midnight deadline with agreements to substantially boost American access to Canada’s dairy market and protect Canada from possible U.S. auto tariffs, sources with direct knowledge of the talks said. President Donald Trump had threatened to splinter the nearly 25-year-old North American Free Trade Agreement into a bilateral pact with Mexico and tax Canadian vehicle exports to the United States if Ottawa had failed to sign on before a midnight Sunday deadline (04:00 GMT Monday). But Trump has approved the “framework” deal with Canada, a source … [Read more...] about Canada, U.S. reach deal to save NAFTA as trilateral trade pact
U.S.-Canada trade talks grind on, but ‘final’ issues unresolved
U.S.-Canada trade talks grind on, but 'final' issues unresolvedThe Saigon Times Daily A commercial truck exits the highway for the Bridge to Canada, in Detroit, Michigan U.S. August 30, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - U.S. and Canadian negotiators pushed ahead in grinding talks to rescue the North American Free Trade Agreement on Thursday, but a few stubborn issues stood in the way of a deal, including dairy, protection for media companies, and how to solve future trade disputes. A U.S. source familiar with the discussions in Washington said it was still unclear whether the two sides could bridge their gaps or whether U.S. President Donald Trump will opt for a Mexico-only bilateral trade deal. “We’re down to three issues: Chapter 19, the cultural issues and dairy. We’ve created leverage and driven Canada to the table,” the source said. “Part of our problem is that Canada has been backsliding on its commitments (on dairy). Trump … [Read more...] about U.S.-Canada trade talks grind on, but ‘final’ issues unresolved
Mexico-U.S. deal includes Mexican auto export cap
Mexico-U.S. deal includes Mexican auto export cap The Saigon Times Daily New trucks are transported across the the border into the United States from Mexico at a federal facility in Otay Mesa, California, U.S., January 27, 2017 - PHOTO: REUTERS WASHINGTON/MEXICO CITY (REUTERS) - A proposed U.S.-Mexico trade deal would allow President Donald Trump to slap punitive tariffs of up to 25% on imports of Mexican-made cars, sport utility vehicles and auto parts above certain volumes, auto executives and sources said on Tuesday. The United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA), pressuring Canada to sign up to new auto trade and dispute settlement rules to remain part of the three-way pact. But a previously unreported side agreement between the two countries would allow the United States to pursue "national security" tariffs on annual Mexican car and SUV imports of over 2.4 million vehicles. The side deal would allow national … [Read more...] about Mexico-U.S. deal includes Mexican auto export cap
U.S. courts allies with free trade offers at G20, France resists
U.S. courts allies with free trade offers at G20, France resists The Saigon Times Daily Finance ministers and Central Bank presidents pose for the official photo at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina, July 21, 2018 – PHOTO: REUTERS BUENOS AIRES (REUTERS) - The United States sought to woo Europe and Japan with free trade deals on Saturday to gain leverage in an escalating tariff war with China but its overtures faced stiff resistance from France at a G20 finance ministers meeting dominated by trade tensions. U.S. Treasury Secretary Steven Mnuchin told reporters at the gathering of the financial leaders of the world’s 20 largest economies in Buenos Aires that he was renewing President Donald Trump’s proposal that G7 allies drop trade barriers between them. “If Europe believes in free trade, we’re ready to sign a free trade agreement,” Mnuchin said, adding that such a deal would require the elimination of tariffs, … [Read more...] about U.S. courts allies with free trade offers at G20, France resists
Vietnam steel exporters accused of tax evasion in U.S.
Vietnam steel exporters accused of tax evasion in U.S.The Saigon Times Daily Steel is seen at a factory in Vietnam. U.S. steel makers have accused Vietnamese exporters of evading anti-dumping and anti-subsidy duties on corrosion-resistant carbon and cold-rolled steel - PHOTO: VGP HCMC - The Department of Trade Defense under the Ministry of Industry and Trade has announced that several U.S. steel makers have filed a case against Vietnamese exporters, claiming they have avoided paying antidumping and antisubsidy duties on corrosion-resistant carbon and cold-rolled steel. According to Nguoi Lao Dong newspaper, U.S. steel producers have petitioned the U.S. Department of Commerce (DOC) to launch investigations into these products as they believed Taiwanese and Korean corrosion-resistant carbon steel and Korean cold-rolled steel had been exported to Vietnam before being shipped to the United States. Since the United States conducted antidumping and antisubsidy probes in 2015, the … [Read more...] about Vietnam steel exporters accused of tax evasion in U.S.
China says in principle door is open to talks with U.S. on trade
China says in principle door is open to talks with U.S. on trade Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China April 24, 2018 - PHOTO: REUTERS BEIJING (REUTERS) - China's door to talks is open in principle, the country's Foreign Ministry said on Monday, a day after Beijing warned that any trade and business deals reached with Washington would be void if the United States implemented tariffs. The United States and China have threatened tit-for-tat tariffs on goods worth up to US$150 billion each, as U.S. President Donald Trump has pushed Beijing to open its economy further and address the United States' large trade deficit with China. The two countries ended their latest round of negotiations on Sunday, with U.S. Commerce Secretary Wilbur Ross and his delegation leaving Beijing without making a public statement, and China making no mention of any new agreements. Following Chinese Vice Premier Liu He's talks with Ross, China … [Read more...] about China says in principle door is open to talks with U.S. on trade
Aquaculture export looks to set new record
Illustration photo Last year, despite a mountain of challenges like natural disasters, tax barriers such as high anti-dumping duties on frozen shrimp and tra fish, illegal, the fight against unreported and unregulated (IUU) fishing to the "yellow card" warning of the European Union, more regular quarantine inspections, distorted information, and competition pressures, overseas shipment of Vietnamese aquaculture exports fetched US$ 8.3 billion, representing a year-on-year surge of 18.7%.The Viet Nam Association of Seafood Exporters and Producers (VASEP) attributed the good outcome to the robust growth of key exports especially shrimp which grew 21% and earned US$ 3.8 billion in export turnover or up 46% of the total. Out of 167 export markets, almost all markets witnessed impressive figures. Especially, the EU market picked up 21%, leaving the U.S. behind to become the biggest importer of Vietnamese aquaculture. In China, Vietnamese aquaculture export … [Read more...] about Aquaculture export looks to set new record
Malaysia, Mexico potential markets for Vietnam rice
Malaysia, Mexico potential markets for Vietnam riceThuy Dung By Thuy Dung - The Saigon Times Daily HANOI – Malaysia and Mexico as members of the Trans-Pacific Partnership (TPP) agreement will become potential markets for Vietnamese rice as tariffs on the staple food are removed in line with the trade pact. Currently, Pacific Rim countries impose high export tariffs on rice. According to a report by the Ministry of Agriculture and Rural Development, Vietnam’s rice export shipments reached 6.59 million tons valued at US$2.8 billion last year, up 4% in volume but down 4.5% in value versus 2014. The average export price stood at US$425.6 per ton, down 8.2% against the previous year. China remained Vietnam’s biggest rice importer in 2015, accounting for 30% of the total, with a rise of 4.8% in volume and a drop of 3.6% in value. Last year saw higher rice exports to Indonesia (up two times in volume and 77% in value), Ghana (up 13.6% in volume and 5.2% in value) … [Read more...] about Malaysia, Mexico potential markets for Vietnam rice