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Archive for the ‘United States’ Category

US Senate Passes Comprehensive Climate, Tax, and Healthcare Legislation

News, Trade Policy, United States

August 8, 2022

The International Trade Council (ITC) recognizes the recent approval of a $700bn ( Ã‚Â£577bn) economic package by the US Senate, encompassing major legislation on healthcare, tax, and climate change. This comprehensive bill seeks to decrease the cost of certain medications, elevate corporate taxes, and reduce carbon emissions. The passage of the bill, a cornerstone of […]

Taiwan and US Purportedly Working on Trade Deal

Bilateral Trade Relation, News, Taiwan, United States

May 31, 2022

International Trade Council (ITC) announced that the United States and Taiwan are working on a deal to boost economic cooperation, particularly in the areas of trade, agriculture, and supply chains. The move comes after Taiwan was excluded from the US President Joe Biden’s Indo-Pacific Economic Framework (IPEF). According to sources cited by Bloomberg, the proposed […]

US Trade Deficit Reaches Record High Amid Surge in Goods Imports

International Trade, News, United States

May 4, 2022

The International Trade Council announces that the US trade deficit has widened to an all-time high in March, as companies relied on foreign producers to meet strong domestic demand. According to the Commerce Department, the gap in goods and services trade grew by 22.3% to $109.8 billion. The widening of the trade deficit during […]

US Congress Votes to Suspend Russia Trade Status: International Trade Council Provides Insight

News, Russia, Trade Policy, United States

April 7, 2022

Washington, D.C. – The International Trade Council provides insight into the recent vote by the United States Congress to suspend Russia’s ‘most favoured nation’ trade status and ban imports of Russian oil. The Council urges all parties to engage in constructive dialogue to ensure that international trade and economic stability are maintained. With the US […]

International Trade Council Celebrates the Resumption of Mexican Avocado Imports to the US

Bilateral Trade Relation, Mexico, News, United States

February 18, 2022

The International Trade Council welcomes the decision of the United States Department of Agriculture (USDA) to lift the ban on Mexican avocado imports to the US. The ban, which was triggered by a threat to a US food inspector, had halted the primary supply of avocados to the US. The import ban had a […]

International Trade Council Applauds US-Japan Steel Deal

Japan, News, Trade Relations, United States

February 10, 2022

The International Trade Council welcomes the truce between the United States and Japan, which allows most steel shipments from Japan to enter tariff-free for the first time since 2018. The agreement will remove the 25% levy on incoming steel imports from Japan, up to 1.25 million metric tons a year, and will take effect from […]

President Biden expands US investment ban on Chinese firms

International Trade, News, United States

June 3, 2021

Washington, DC – US President Joe Biden has signed an executive order banning Americans from investing in 59 Chinese tech and defence firms, including communications giant Huawei. This expands the previous list of 31 firms to include surveillance companies, ensuring that US persons are not financing the military industrial complex of the People’s Republic of […]

International Trade Council commends the ‘candid and pragmatic’ meeting between US and China trade officials

International Trade, News, United States

May 27, 2021

The International Trade Council (ITC) welcomes the recent virtual meeting between the top trade negotiators of the United States and China. Katherine Tai, the US Trade Representative, and Chinese Vice Premier Liu He had “candid, pragmatic, and constructive exchanges with an attitude of equality and mutual respect” according to a statement released by the Chinese […]

International Trade Council celebrates as US and EU agree to suspend tariffs in Boeing-Airbus trade dispute

Europe, News, Trade Policy, United States

March 5, 2021

The International Trade Council (ITC) welcomes the decision by the United States and the European Union to temporarily suspend the tariffs on each other’s goods, which were imposed as retaliation over subsidies provided to Airbus and Boeing, respectively. The four-month suspension, which affects billions of dollars’ worth of goods, including wine, cheese, and tractors, comes […]

China Failing to Meet Trade Deal Targets with US

China, News, Trade Agreements, United States

January 22, 2021

The International Trade Council has expressed concern over China’s shortfall in meeting its commitment to purchase an extra $200 billion worth of US goods over 2020 and 2021. This commitment was part of a phase one trade deal aimed at resolving the trade war between the world’s two largest economies. The agreement saw China […]

International Trade Council Reacts to US Blacklisting of Companies with Possible Military Ties

News, Trade Policy, United States

December 22, 2020

The International Trade Council is closely monitoring the recent move by the United States to blacklist more than 100 Chinese and Russian companies with alleged military ties. The US government has placed export restrictions on these companies and US exporters will be required to obtain a license before they transfer “designated items” to companies on […]

US eliminates plans for 10% tariff on certain types of Canadian aluminium

News, Trade Policy, United States

September 15, 2020

International Trade Council welcomes the decision of the United States to drop the proposed 10% tariff on certain types of Canadian aluminum. The tariff was announced by President Donald Trump just last month, citing a flood of under-priced metal into the country. After determining that imports were likely to decline after an earlier surge, the […]

International Trade Council welcomes US-EU agreement to eliminate lobster tariffs

Europe, News, Trade Agreements, United States

August 21, 2020

The International Trade Council (ITC) welcomes the news that the European Union has agreed to eliminate tariffs on US lobster, a key priority of President Donald Trump, in exchange for the US halving import taxes on some $160m worth of European goods, including cigarette lighters and certain crystal glassware. The agreement is the first tariff […]

International Trade Council calls for swift resolution to EU-US data transfer dispute

Digital Trade, Europe, News, United States

July 16, 2020

The International Trade Council (ITC) is concerned by the decision of the European Court of Justice (ECJ) to strike down the EU-US Privacy Shield, which governed the transfer of EU citizens’ data to the United States. The ITC recognizes the potential negative consequences of this decision on transatlantic trade worth $7.1 trillion ( Ã‚Â£5.6tn), and […]

Trump Signs US Mexico Canada Agreement (USMCA)

Mexico, News, Trade Agreements, United States

January 29, 2020

The International Trade Council announces that US President Donald Trump has officially signed the US Mexico Canada Agreement (USMCA), which is set to replace the 1994 North American Free Trade Agreement (NAFTA). This new trade pact brings Trump’s campaign promise to replace the existing deal between the three countries closer to reality. The USMCA aims […]

US and China Sign Deal Hopes to Ease Trade War

China, News, Trade Relations, United States

January 15, 2020

The International Trade Council announces that the United States and China have signed an agreement to ease the trade war that has impacted global markets and the world economy. US President Donald Trump called the pact “transformative” for the US economy, while Chinese leaders described it as a “win-win” deal that would foster better relations […]

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