International Trade

CBP modifies withhold release order in response to Smart Glove’s successful actions to address forced labor supply chain issues

AJOT Newsroom | April 27, 2023 | International Trade

Smart Glove’s elimination of forced labor from their supply chain demonstrates CBP’s enforcement success

Secretary Raimondo announces U.S. Section of the U.S.-EU Trade and Technology Council Talent for Growth Task Force

AJOT Newsroom | April 27, 2023 | International Trade

U.S. Secretary of Commerce Gina Raimondo announced the seven individuals who will serve on the U.S. Section of the U.S.-EU Trade and Technology Council (TTC) Talent for Growth Task Force.

Consumers to spend record $35.7 billion for Mother’s Day

AJOT Newsroom | April 27, 2023 | International Trade

US imposes new sanctions on Russia, Iran over detained Americans

Bloomberg | April 27, 2023 | International Trade

Germany in talks to limit export of chip chemicals to China

Bloomberg | April 27, 2023 | International Trade | Commodity

Germany is in talks to limit the export of chemicals to China that are used to manufacture semiconductors as Berlin steps up efforts to reduce its economic exposure to the Asian nation.

Tough times for Australian wine as exports to UK and US tumble

Bloomberg | April 27, 2023 | International Trade

Australian wine exporters are facing incredibly tough conditions, with an economic slowdown and increased competition from other beverages hurting sales to its biggest markets in the UK and US.

International Trade

AJOT Newsroom | April 27, 2023

CHIPS for America’s vision for the National Semiconductor Technology Center

This week, CHIPS for America released a paper outlining the vision and strategy for a National Semiconductor Technology Center (NSTC), a key component of the research and development program established by President Biden’s bipartisan CHIPS and Science Act. The NSTC will work with industry, academia, and other partners to establish a network of technical centers across the country to foster nationwide research and innovation--advancing U.S. competitiveness and technological leadership.

International Trade

Bloomberg | April 27, 2023

Mexico’s exports hit record in sign nearshoring is booming

Mexico’s exports reached a record $53.6 billion in March, leading to an unexpected trade surplus, as the country continues to benefit from US demand for its manufactured products.

Energy

Bloomberg | April 27, 2023

Hyundai Motor, SK on plan $5 billion EV battery plant in US

Hyundai Motor Group and SK On Co. will spend as much as $5 billion in North America for the production of electric car batteries as President Biden’s green bill encourages companies along the EV supply chain to make investments there. Shares rose as much as 5% in Seoul.

Citadel money manager exits to join Biden’s push for chips

Bloomberg | April 26, 2023 | International Trade

International Trade

Bloomberg | April 26, 2023

Wheat farmers ask Canada to step in as strike threatens exports

The Wheat Growers Association is calling for the Canadian government to allow outside workers to weigh and inspect grain at a Vancouver port as a massive strike by public sector workers threatens shipments.

Russia’s Medvedev says G-7 export ban to trigger grain deal exit

Bloomberg | April 26, 2023 | International Trade | Commodity

Moscow may retaliate if Group of Seven countries proceed with a total ban on most exports to Russia by withdrawing from the safe-transit deal that allows Ukraine to ship grains from Black Sea ports, said Dmitry Medvedev, deputy chair of Russia’s Security Council.

Biden threatens to veto bill to lift moratorium on solar tariffs

Bloomberg | April 26, 2023 | Energy | Alternative | International Trade

President Joe Biden is threatening to veto legislation that would re-instate tariffs as high as 254% on solar panels imported from Southeast Asia, the White House said Monday.