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Tag: export

  • President Trump says he’s ending trade talks with Canada over TV ad

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    President Donald Trump said late Thursday that he was ending “all trade negotiations” with Canada because of a television ad opposing U.S. tariffs that he said misstated the facts and called “egregious behavior” aimed at influencing U.S. court decisions.The post on Trump’s social media site came after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside the U.S. because of the threat posed by Trump’s tariffs. Trump’s call for an abrupt end to negotiations could further inflame trade tensions that already have been building between the two neighboring countries for months.Related video above: Earlier this month, Trump explained why a deal with Canada is complicatedTrump posted, “The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs.”“The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts,” Trump wrote on his social media site. “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.”Carney’s office didn’t immediately respond to a request for comment. The prime minister was set to leave Friday morning for a summit in Asia, while Trump is set to do the same Friday evening.Earlier Thursday night, the Ronald Reagan Presidential Foundation and Institute posted on X that an ad created by the government of Ontario “misrepresents the ‘Presidential Radio Address to the Nation on Free and Fair Trade’ dated April 25, 1987.” It added that Ontario did not receive foundation permission “to use and edit the remarks.”The foundation said it is “reviewing legal options in this matter” and invited the public to watch the unedited video of Reagan’s address.Carney met with Trump earlier this month to try to ease trade tensions, as the two countries and Mexico prepare for a review of the U.S.-Mexico-Canada Agreement — a trade deal Trump negotiated in his first term, but has since soured on.More than three-quarters of Canadian exports go to the U.S., and nearly $3.6 billion Canadian (US$2.7 billion) worth of goods and services cross the border daily.Trump said earlier this week that he had seen the ad on television and said that it showed that his tariffs were having an impact.“I saw an ad last night from Canada. If I was Canada, I’d take that same ad also,” he said then.In his own post on X last week, Doug Ford, the premier of Ontario, posted a link to the ad and the message: “It’s official: Ontario’s new advertising campaign in the U.S. has launched.”He continued, “Using every tool we have, we’ll never stop making the case against American tariffs on Canada. The way to prosperity is by working together.”A spokesperson for Ford didn’t immediately respond to a request for comment Thursday night. But Ford previously got Trump’s attention with an electricity surcharge to U.S. states. Trump responded by doubling steel and aluminum tariffs.The president has moved to impose steep U.S. tariffs on many goods from Canada. In April, Canada’s government imposed retaliatory levies on certain U.S. goods — but it carved out exemptions for some automakers to bring specific numbers of vehicles into the country, known as remission quotas.Trump’s tariffs have especially hurt Canada’s auto sector, much of which is based in Ontario. This month, Stellantis said it would move a production line from Ontario to Illinois

    President Donald Trump said late Thursday that he was ending “all trade negotiations” with Canada because of a television ad opposing U.S. tariffs that he said misstated the facts and called “egregious behavior” aimed at influencing U.S. court decisions.

    The post on Trump’s social media site came after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside the U.S. because of the threat posed by Trump’s tariffs. Trump’s call for an abrupt end to negotiations could further inflame trade tensions that already have been building between the two neighboring countries for months.

    Related video above: Earlier this month, Trump explained why a deal with Canada is complicated

    Trump posted, “The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs.”

    “The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts,” Trump wrote on his social media site. “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.”

    Carney’s office didn’t immediately respond to a request for comment. The prime minister was set to leave Friday morning for a summit in Asia, while Trump is set to do the same Friday evening.

    Earlier Thursday night, the Ronald Reagan Presidential Foundation and Institute posted on X that an ad created by the government of Ontario “misrepresents the ‘Presidential Radio Address to the Nation on Free and Fair Trade’ dated April 25, 1987.” It added that Ontario did not receive foundation permission “to use and edit the remarks.”

    The foundation said it is “reviewing legal options in this matter” and invited the public to watch the unedited video of Reagan’s address.

    Carney met with Trump earlier this month to try to ease trade tensions, as the two countries and Mexico prepare for a review of the U.S.-Mexico-Canada Agreement — a trade deal Trump negotiated in his first term, but has since soured on.

    More than three-quarters of Canadian exports go to the U.S., and nearly $3.6 billion Canadian (US$2.7 billion) worth of goods and services cross the border daily.

    Trump said earlier this week that he had seen the ad on television and said that it showed that his tariffs were having an impact.

    “I saw an ad last night from Canada. If I was Canada, I’d take that same ad also,” he said then.

    In his own post on X last week, Doug Ford, the premier of Ontario, posted a link to the ad and the message: “It’s official: Ontario’s new advertising campaign in the U.S. has launched.”

    He continued, “Using every tool we have, we’ll never stop making the case against American tariffs on Canada. The way to prosperity is by working together.”

    A spokesperson for Ford didn’t immediately respond to a request for comment Thursday night. But Ford previously got Trump’s attention with an electricity surcharge to U.S. states. Trump responded by doubling steel and aluminum tariffs.

    The president has moved to impose steep U.S. tariffs on many goods from Canada. In April, Canada’s government imposed retaliatory levies on certain U.S. goods — but it carved out exemptions for some automakers to bring specific numbers of vehicles into the country, known as remission quotas.

    Trump’s tariffs have especially hurt Canada’s auto sector, much of which is based in Ontario. This month, Stellantis said it would move a production line from Ontario to Illinois

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  • Report: Slips in employer optimism tied to Trump tariffs

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    BOSTON — The state’s economy may be on solid footing but employers are becoming increasingly pessimistic about the impact of President Donald Trump’s tariffs on their bottom lines, according to a new report.

    The latest Business Confidence Index, which is compiled by the pro-business group Associated Industries of Massachusetts, shows overall enthusiasm among employers “grew darker” after slipping 1.4 points to 47.5 on a 100-point scale in September.


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    By Christian M. Wade | Statehouse Reporter

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  • U.S. manufacturing sector shrinks for 14th straight month in December

    U.S. manufacturing sector shrinks for 14th straight month in December

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    The numbers: A closely watched index that measures U.S. manufacturing activity rose by 0.7 percentage point to 47.4 in December, according to the Institute for Supply Management on Wednesday.

    Economists surveyed by the Wall Street Journal had forecast the index to rise to 47.2. 

    Any number below 50 reflects a shrinking economy. Manufacturing has contracted for 14 straight months.

    Key details: The key new-orders index fell 1.2 percentage points to 47.1 in December.

    Production rose 1.8 percentage points to 50.3 from the prior month. Employment picked up slightly but remained below the 50-percentage-point threshold.

    Prices fell 4.7 percentage points to 45.2. That’s the biggest drop since May 2023. Inventories were down 0.5 percentage point to 44.3 in December.

    Customer inventories dipped back below 50 last month to 48.1 in December.

    Only one industry, primary metals, reported growth in December, while 16 reported contractions.

    Layoffs picked up in December, concentrated in the computer and electronics, machinery, and food and beverage sectors.

    Big picture: The contraction in manufacturing is the longest since 2000-01, after the dot-com bubble exploded, said Jay Hawkins, senior economist at BMO Capital Markets.

    Economists said that depressed capital spending has been the key drag on the factory sector, along with weak global trade. They expect that a sharp drop in long-term interest rates will improve the picture, but the change won’t happen overnight.

    What the ISM said: Tim Fiore, chair of the ISM manufacturing survey committee, was relatively upbeat about the data. He said the sector was closing the year in a “really good position” and forecast that the ISM factory index would rise above the 50-percentage-point threshold by March. Fiore said he also expects the inventory number to pick up in coming months.

    What economists said: “The survey indicates that conditions in the factory sector remain unusually weak and that output is likely to continue declining for at least a few more months,” said Andrew Hunter, deputy chief U.S. economist at Capital Economics.

    Market reaction: Stocks
    DJIA

    SPX
    were lower in early trading on Wednesday, while the yield on the 10-year Treasury note
    BX:TMUBMUSD10Y
    rose to just below 4%.

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  • Import prices rise in April for first monthly gain this year

    Import prices rise in April for first monthly gain this year

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    The numbers: The cost of U.S. imported goods rose 0.4% in April, the Labor Department said Friday. This was the first increase this year.

    Economists polled by the Wall Street Journal had forecast a 0.3% gain.

    Over the past 12 months, the costs of imports has dropped 4.8%. That followed a 12.5% gain in the prior year.

    Key details: The cost of imported fuel rose 4.5% in April after a 3.9% drop in the prior month. This was the first increase since last June.

    The cost of imports excluding fuel were flat in April after a 0.5% decline in the prior month. Over the past year, nonfuel import prices are down 1.9%.

    Exports prices rose 0.2% in April. They are down 5.9% over the past year.

    Big picture: The stronger dollar last year dampened import prices and was a source of disinflation, but with the dollar softer this year, prices are firming.

    One sign perhaps of the weaker dollar is that consumer goods prices ex-autos rose 0.2% in April and are up 1.1% annualized over the past three months, said Michael Gapen, U.S. economist at Bank of America Securities.

    What are they saying? “Perhaps imported inflation is the first early signal of how brutal the fight against inflation will be in the coming months. Investors and traders should remember that the Fed’s target is 2%,” said Alex Kuptsikevich, senior market analyst at FXPro.

    Market reaction: Stocks
    DJIA,
    -0.03%

    SPX,
    -0.16%

    were lower in volatile morning trading on Friday. The yield on the 10-year Treasury note
    TMUBMUSD10Y,
    3.468%

    rose to 3.45%.

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  • Scarbrough International Welcomes Amy Rice as Vice President & Managing Director

    Scarbrough International Welcomes Amy Rice as Vice President & Managing Director

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    Rice will lead The Scarbrough Group’s international freight forwarding and customs brokerage operations.

    Press Release


    Nov 23, 2021

    Scarbrough proudly announces the arrival of Amy Rice as Vice President & Managing Director, Scarbrough International. Rice will head Scarbrough International, a Scarbrough Group company, as its strategies, operations, and personnel continue to expand.

    “Amy’s combination of experience and customer-centric approach is a perfect fit for us,” said Scarbrough Group President and COO Adam Hill. “I’m confident that she will lead our international operations to continued success.”

    Rice arrives at the position with an extensive background in global logistics. A long-time supply chain executive, Amy has helped international logistics providers cultivate success for clients and stakeholders. 

    Amy is a licensed customs broker, a certified export specialist, and a certified customs specialist. She carries that acumen into her new leadership role with Scarbrough International. 

    “Scarbrough International is full of potential,” Rice said. “I’m looking forward to the challenges and opportunities ahead as the company continues to grow its capabilities.” 

    Rice begins her role as Vice President and Managing Director, Scarbrough International effective immediately. 

    About Scarbrough International  

    International, Done Differently. Scarbrough International brings together Customs Brokerage and International Freight Forwarding in a single, convenient supply chain solution. Its import and export specialists guide clients through the intricacies of international trade. With worldwide connections and global business partnerships, Scarbrough International helps ensure that freight arrives on time and within budget.  

    About The Scarbrough Group

    Founded in 1984, The Scarbrough Group has grown its global logistics operation one client and one employee at a time. Whether international freight forwarding, customs brokerage, domestic trucking, or warehousing, The Scarbrough Group manages supply chains differently. It remains a people-first organization with dedication to traditional values and support for the community. Expect More™ from your logistics provider. 

    Press Contact: 
    Scott Prewitt 
    Corporate Communications 
    sprewitt@scarbrough-intl.com 
    816-652-0659

    Source: The Scarbrough Group

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  • Fortune Products, Inc. Receives Presidential Award for Exports

    Fortune Products, Inc. Receives Presidential Award for Exports

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    Press Release



    updated: Jun 7, 2018

    U.S. Secretary of Commerce Wilbur Ross presented Fortune Products, Inc. with the President’s “E” Award for Exports at a ceremony in Washington, D.C., on May 21. The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.

    “Fortune Products has demonstrated a sustained commitment to export expansion. The “E” Awards Committee was very impressed with Fortune Products’ export sales to multiple industries in 64 countries. The company’s 65 percent growth in employment supported by exports was also particularly notable. Fortune Products’ achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs,” said Secretary Ross in his congratulatory letter to the company announcing its selection.

    Fortune Products has demonstrated a sustained commitment to export expansion. The ‘E’ Awards Committee was very impressed with Fortune Products’ export sales to multiple industries in 64 countries. The company’s 65 percent growth in employment supported by exports was also particularly notable. Fortune Products’ achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs.

    Wilbur Ross , U.S. Secretary of Commerce

    Fortune Products, Inc., established in 1984, is the manufacturer of the award-winning AccuSharp brand of knife & tool sharpeners and offers a full line of manual sharpening products and knives. Fortune Products has also successfully launched two additional brands – SharpNEasy and ParaForce – into its broad scope of sharpening products, tools, and knives. For more information about Fortune Products, Inc. and its full line of sharpening products and tools, visit www.accusharp.com.

    “Our team takes pride in providing quality products that offer a great value and as our brand continues to grow internationally, exporting has become a vital part of our sales,” said Jay Cavanaugh, Fortune Products’ President and CEO. “Buyers and consumers in foreign markets are increasingly seeking quality products made in the United States. We are extremely proud to be recognized for our contribution in the export market and honored to receive the President’s ‘E’ Award.”

    In total, Secretary Ross honored 43 U.S. companies and organizations from across the country with the President’s “E” Award for their role in strengthening the U.S. economy by sharing American ingenuity outside of our borders. 

    U.S. companies are nominated for the “E” Awards through the U.S. Commercial Service, part of the Department’s International Trade Administration. With offices across the United States and in embassies and consulates around the world, The International Trade Administration lends its expertise at every stage of the exporting process by promoting and facilitating exports and investment into the United States; administering Anti-Dumping and Countervailing Duties orders; and removing, reducing, or preventing foreign trade barriers.

    U.S. exports totaled $2.33 trillion in 2017, accounting for 12 percent of U.S. gross domestic product. Exports supported an estimated 10.7 million jobs nationwide in 2016, according to the most recent statistics from the International Trade Administration.

    About the “E” Awards

    In 1961, President Kennedy signed an executive order reviving the World War II “E” symbol of excellence to honor and provide recognition to America’s exporters. Criteria for the award is based on four years of successive export growth in one or more international markets.

    For more information about the “E” Awards and the benefits of exporting, visit www.export.gov.

    Contact: Public Relations Department, (952) 272-6999

    Source: Fortune Products, Inc.

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  • Hamilton Crawford – China Economy Beats Predictions

    Hamilton Crawford – China Economy Beats Predictions

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    Hamilton Crawford comments as China experiences impressive growth in imports and exports in spite of predictions of an economic slowdown.

    Press Release



    updated: Oct 17, 2017

    China’s import and export growth increased last month, indicating that the world’s second-largest economy is still growing at a robust pace in spite of predictions of an eventual slowdown.

    According to the data released by Shanghai, China based Hamilton Crawford, there are also strong signs of further improvement in the worldwide economy with business activity and demand increasing significantly this year in both the US and Europe.

    The positive readings will be well received by Beijing as it prepares for its Communist Party Congress which is to be held next week. It is anticipated that President Xi Jinping will solidify his power and reveal his government’s most pressing political and economic agendas for the next five years.

    Imports grew by 18.7 percent last month from a year earlier, surpassing analysts’ expectations of a 13.5 percent increase and accelerating from 13.3 percent in the month before.

    Hamilton Crawford analysts stated that this gain was stronger than even the most optimistic predictions.

    Exports in September increased by 8.1 percent, lower than expectations of 8.8 percent but still the greatest increase in three months and 2.6 percent more than that of the month before.

    Yet again, China’s imports were powered by industrial products as a construction boom lasting 12 months shows no indications of slowing. Factory activity remains strong, increasing demand for materials such as copper and steel.

    Elevated commodity prices significantly enhanced the strength of the bounce, but volumes increased, too, indicating a firm underlying demand.

    The General Administration of Customs stated that China’s foreign trade will probably expand at a double-digit pace in 2017 if current conditions persist. 

    Contact Info
    Elite News-CN, Jingmi Rd, Chaoyang Qu, Beijing Shi, China
    info@elite-news-cn.com

    Source: Hamilton Crawford

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  • Arvigor Trading & Co. GmbH is Incorporated in a Global USD 20.88 Tn. Export Market.

    Arvigor Trading & Co. GmbH is Incorporated in a Global USD 20.88 Tn. Export Market.

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    The launch of Arvigor Trading & Co. GmbH paves the way to synergize its trading, advisory and tech businesses.

    Press Release



    updated: Oct 11, 2017

    Arvigor Trading & Co. announces its incorporation as Arvigor Trading & Co. GmbH on Sept. 27, 2017, a multipurpose trading company based in Berlin, Germany. 

    Business and Trade

    The technological advancements in the last two decades, especially in global telecommunication, have created more fluid mechanisms for international trade. International diversification for businesses has become a standard instrument in this global economy. However, the global flow of information and business data also means that modern trade for businesses underscores the relevance of systematic and technical solutions.

    Duc Anh Do, Chief Executive Officer

    Today’s global and growing market for exports has changed the ways how traders, investors, small and medium-sized enterprises (SMEs) compete for and do business. The build-up of internal trade departments absorbs resources and stretches organizational capacities.

    Arvigor Trading & Co. concentrates the operational workflow of SMEs with regard to their international business through its trade advisory & business consulting, ecommerce, public relations & trade marketing platform. Its use of algorithmic solutions and mathematical models to interconnected problems of international trade such as business-to-business matching, supply chain optimization or global sourcing boosts the structural efficiency and allocation of their investments.

    Communication and Diversification

    Arvigor Trading & Co. GmbH CEO, Mr. Duc Anh Do, reflected on the incorporation: “The technological advancements in the last two decades, especially in global telecommunication, have created more fluid mechanisms for international trade. International diversification for businesses has become a standard instrument in this global economy. However, the global flow of information and business data also means that modern trade for businesses underscores the relevance of systematic and technical solutions.”  

    Opportunities and Challenges

    Merchandise exports and the exports of commercial services by WTO members were valued at USD 20.88 tn in 2015, which represented roughly twice that value in 2005. Legal and political challenges such as the withdrawal from the European Union by the United Kingdom, however, have created uncertainty in global trade. By quantifying those types of risks, international businesses can enact suitable measures in advance and enhance their corporate decision-making processes.  

    About Arvigor Trading & Co. GmbH

    Arvigor Trading & Co. GmbH based in Berlin, Germany, is a private multipurpose trading company with a hybrid business model involved in international trade. It centralizes, structures and optimizes the trade operations of small and medium-sized enterprises through a multichannel platform to generate long-term value for its clients. Its trade advisory and business consulting solutions are built to enhance their competitive outlook and strategic perspective. Contact via: arvigortrading.com.

    # # #

    Media Contact:

    Email: media@arvigortrading.com
    Twitter: @arvigortrading
    Phone: +49 30 28867307
    Fax: +49 32 226412907

    Source: Arvigor Trading & Co.

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