Find the Latest COVID-19 Updates and Recommendations: The CI Blog »
Coronavirus Resources: COVID-19 Resource Guide »

China

China, Mexico Signal Willingness to Step Up Trade Talks With U.S.

Beijing’s latest missive struck a newly measured tone, despite accusing Washington of scuttling negotiations, while Mexico sends a delegation to Washington to discuss immigration issues.

The Wall Street Journal Reports (Subscription Required) that China and Mexico both signaled a willingness to negotiate with Washington over escalating trade issues, while the Trump administration took to the airwaves to defend its use of tariffs to gain concessions from trading partners. “We’re willing to adopt a cooperative approach to find a solution,” Vice Commerce Secretary Wang Shouwen said in Beijing on Sunday.

Mexico, meanwhile, rushed a delegation to the U.S. to discuss immigration issues, following the Trump administration’s threat last week to impose tariffs on all Mexican goods entering the U.S. if the Mexican government fails to take aggressive measures to stem the flow of immigrants through Mexico and into the U.S. Tariffs on all Mexican imports would begin at 5% and rise by 5 percentage points each month before reaching 25% in October.

Meanwhile Bloomberg reports that Beijing has readied a plan to restrict exports of rare earths to the U.S. if needed, as both sides in the trade war dig in for a protracted dispute, according to people familiar with the matter.

Heavy rare earths include dysprosium, used in magnets commonplace in almost all cars and many consumer goods. The group also has yttrium, used in lighting and flat screens, as well as ytterbium, which has applications in cancer treatments and earthquake monitoring.

 

read more »

Ex-Im Votes Empower Manufacturers to More Aggressively Compete Against China, Others

By Michael Shapiro,  from www.nam.org, The National Association of Manufacturers 

link to article 

National Association of Manufacturers President and CEO Jay Timmons released the following statement after the Senate voted to confirm Export-Import Bank nominees Kimberly Reed, Judith DelZoppo Pryor and Spencer Bachus, a move that will significantly enhance manufacturers’ competitiveness against foreign nations, including China:

Now that the Export-Import Bank is on track to be fully functional again, after a four-year hiatus, manufacturers in America can once more reach their full potential and more aggressively compete against China and others. While the agency was sidelined, billions of dollars’ worth of deals were lost to foreign competitors, resulting in tens of thousands of unrealized manufacturing jobs. Thanks to the leadership of President Trump, Leader McConnell and senators on both sides of the aisle, this self-inflicted damage is now over.

This bipartisan victory will be short-lived, however, if Congress does not act swiftly to reauthorize the Ex-Im Bank before the September deadline. For manufacturers, this is a serious threat looming on the horizon. If Congress fails to reauthorize the Ex-Im Bank, lawmakers will be responsible for slowing manufacturing’s growth and handing countries like China a competitive edge. Now is not the time to squander the historic progress we’ve made in recent years.

The NAM has been a leading proponent of restoring the Ex-Im Bank, which has supported 1.7 million American jobs over the past 10 years, to full functionality. In January, Timmons sent a letter to Senate leaders urging them to approve swiftly the full slate of stalled, qualified nominees to the Ex-Im Bank’s board of directors following their bipartisan approval by the Senate Banking Committee.

Quick facts about the Ex-Im Bank:

  • The agency has supported 1.7 million jobs over the past 10 years.
  • On average, more than 90 percent of the Ex-Im Bank’s transactions directly support small businesses.
  • The agency has generated $9.6 billion for taxpayers since 1992.
  • Foreign competitors are stealing America’s competitive advantage by devoting hundreds of billions of dollars to official export credit agency financing for domestic manufacturers.
  • The agency’s default rate is better than many commercial lenders and far below the 2 percent maximum rate set by Congress.

Click here to learn more about how the Ex-Im board vacancies impacted manufacturers and here for more information about its role as a critical tool in checking China’s ambitions.

 

 

read more »

Join Global NY’s Trade Mission to MEDTEC China 2019

Global NY is Recruiting for MEDTEC China 2019
SEPTEMBER 25–27, 2019, SHANGHAI, CHINA

Global NY is recruiting up to 10 NYS small businesses to participate in an organized trade mission to MEDTEC China 2019 in Shanghai. MEDTEC China, the leading medical device design and manufacturing exhibition in China, will take place on September 25-27, 2019 at the Shanghai World EXPO Exhibition & Convention Centre. It is a premier manufacturing and sourcing event for medical device manufacturers in China. Key industries include: Assembly Equipment & Production Machinery, Materials for Every Application, Packaging, Sterilization & Cleanroom Equipment, Plastics/Disposable Devices & Diagnostics, Outsourcing/Contract Manufacturing, Motors, Pumps & Motion Control, IVD Suppliers, Quality, Precision Technology, Medical Electronics.

Why Export to China?
• China is New York’s #2 Buyer.
• China is currently the United States’ third-largest export market.
• New York exported approximately $12.6 billion in goods to China in 2018.
• China is seeking high-tech products and services from NY Companies.

For eligible companies, Global NY’s STEP grant can reimburse a significant portion of your exhibit, travel and accommodation expenses. You also will be eligible to apply for Global NY’s customized Export Marketing Assistance Service (EMAS) in China.

Application Deadlines and Details:
The deadline for applying to participate in MEDTEC China 2019 is May 31, 2019.
Follow this link to download a PDF with more information 

read more »