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Trade - United States - May 2017
The document discusses the trade situation of the United States as of May 2017, outlining trade surpluses and deficits with various countries. It highlights significant deficits with China, the European Union, and Mexico, while noting surpluses with South and Central America, Hong Kong, and others. Additionally, it touches on issues of protectionism, NAFTA negotiations, and the impact of Canadian subsidies on the U.S. entertainment industry.
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Trade - United States - May 2017
- 1. TRADE – UNITEDSTATES – MAY 2017 BY: PAUL YOUNG, CPA, CGA DATE: JULY 7, 2017
- 2. PAUL YOUNG -BIO • CPA, CGA • Financial Solutions • SME – Risk Management • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Financial Solutions • SME – Supply Chain Management Contact information: Paul_Young_CGA@Hotmail.com
- 3. USA TRADE SURPLUS/DEFICIT Source- https://www.census.gov/foreign-trade/Press- Release/current_press_release/ft900.pdf
- 4. USA TRADE SURPLUS/DEFICIT Source- https://www.census.gov/foreign-trade/Press- Release/current_press_release/ft900.pdf
- 5. USA TRADE –IMPORTS AND EXPORTS Source - https://www.census.gov/foreign-trade/Press- Release/current_press_release/ft900.pdf
- 6. USA TRADE –SURPLUS / DEFICIT BY COUNTRY Source - https://www.census.gov/foreign-trade/Press- Release/current_press_release/ft900.pdf • Surpluses, in billions of dollars, with • South and Central America ($2.4) • Hong Kong ($2.3) • Singapore ($0.8) • Brazil ($0.8) • United Kingdom ($0.7). Deficits were recorded, in billions of dollars, with • China ($30.1) • European Union ($10.7) • Mexico ($6.8) • Japan ($6.4) • Germany ($4.7) • Italy ($2.4) • Canada ($2.2) • India ($2.0), • Taiwan ($1.7) • France ($1.7) • OPEC ($1.1) • South Korea ($0.8) • Saudi Arabia ($0.2).
- 7. USA TRADE SUMMARY Source– ScotiaBank
- 8. USA PROTECTIONISM –STEEL Source - https://www.usnews.com/opinion/op-ed/articles/2017-07-05/donald-trumps-trade- protectionism-wont-help-us-steel
- 9. G20 SUMMIT -TRADE • Source - http://www.express.co.uk/news/world/825836/G20-summit-live-Donald-Trump-trade-war- protectionism-Jean-Claude-Juncker Speaking ahead of the G20 summit in Hamburg today, the Commission President alongside the Council president Donald Tusk warned Europe will react if the US leader starts a trade war. And he added the European Union will respond if the Mr Trump imposes punitive tariffs on steel, saying: "Should the US introduce tariffs on European steel imports, Europe is ready to react immediately and adequately.” In a dig at Mr Trump, he said that a new EU-Japan trade deal signed on Thursday showed that Europeans were not putting up "protectionist walls".
- 10. NAFTA Source - https://www.theglobeandmail.com/news/politics/nafta-renegotiations-trump-canada/article33715250/ •Prime Minister Justin Trudeau is in Germany today to talk global policy with his G8 counterparts, after stopping by Ireland to shore up support for CETA, a Canada-EU trade deal that’s been stalled in Europe’s legislatures. • Most of the Comprehensive Economic and Trade Agreement was supposed to go into effect by July 1, but the EU still wants stronger assurances from Canada on opening its dairy market and guaranteeing pharmaceutical patents. On Tuesday, Irish Prime Minister Leo Varadkar endorsed the deal, which his government hopes will cushion the country’s economy in a post-Brexit future. • CETA’s troubles and trade disputes with the U.S. on softwood lumber and dairy are weighing on Ottawa as it prepares for the coming renegotiations of the North American free-trade agreement Last month, Canada vowed to “vigorously defend” its softwood lumber producers after the U.S. Commerce Department imposed a new 7- per-cent anti-dumping duty on Canadian exports. • There is no deadline for the NAFTA talks, U.S. Trade Representative Robert Lighthizer told a June 21 Senate committee hearing, though some senators warned that letting talks go on for too long would damage the economy. Behind the scenes, Canada’s NAFTA negotiating position has hardened since the United States took aim at softwood lumber and dairy supply management, sources with knowledge of the situation have told The Globe.
- 11. ENTERTAINMENT INDUSTRY /NAFTA Source - http://www.ctvnews.ca/politics/blame-canada-u-s-visual-effects- artists-want-reforms-under-nafta-1.3487616 Hollywood digital animation and effects artists say they can’t compete against aggressive Canadian subsidies and are fighting back at NAFTA public hearings. California-based 3D artist Eric Rosenthal has worked on movies, commercials, and video games. But he's now working to change the long-standing U.S.- Canada trade agreement he calls unfair. Rosenthal recently made the trip from L.A. to Washington to participate in public hearings organized by the United States Trade Representative ahead of NAFTA renegotiations. He blamed Canadian federal, provincial and territorial government rebates of up to 60 per cent of eligible costs, saying the subsidies are pushing Hollywood studios to move productions north, destroying animation jobs in the U.S.