Expectations are rising that the Obama administration will move in the coming days to ease travel restrictions to Cuba. The hubbub about an anticipated White House statement is leading to stepped-up speculation about areas of potential exchange and trade with the long-embargoed Caribbean island, such as energy development… Action now would be aimed in part at “creating momentum for ending the travel ban,” says Jake Colvin, vice president of the National Foreign Trade Council, a Washington business organization that favors ending the Cuba embargo. More broadly, he says, administration and congressional action reflect a growing “consensus” that it’s time “to do something different on Cuba.”
Category: NFTC In the News
Trade Expert: Inaction on Mexico is Costing Jobs
National Foreign Trade Council president Bill Reinsch on Monday warned that Mexico imposing additional tariffs on the U.S. will only add to the job woes facing this country. Dispute between the two countries stems from a 2009 decision by U.S. trade leaders to end a pilot program that allowed roughly 100 Mexican trucks to transport goods into the U.S. The result barred these trucks from crossing the border and promoted Mexico to retaliate by increasing tariffs on approximately 90 U.S-made products. The move essentially made these products too expensive to compete with Mexican competitors. Today’s move by Mexico exacerbates the competitiveness issue and could add to the job loss in the U.S. as demand shrinks for domestic products. “Ignoring the trucking issue and failing to abide by our trade commitments has real economic costs,” Reinsch said in prepared remarks. “Given the state of the U.S. economy and the current trade deficit, the United States cannot afford to continue standing still on this issue with Mexico imposes new harmful tariffs, causing a shift away from U.S. goods.” A new trucking programs is supposedly in the works, but has yet to materialize. “The president has stated his willingness to address the trucking issue, and we urge him to work with Congress to develop a viable solution as soon as possible,” Reinsch said.
http://thehill.com/blogs/on-the-money/801-economy/114545-trade-expert-inaction-on-mexico-is-costing-jobs
Mexico Expands Retaliatory Tariffs in Trucks Dispute
Excerpt: Mexico stepped up its pressure on the U.S. in the dispute over cross-border trucking on Monday, expanding the list of American goods that will be hit with punitive tariffs… The announcement came as President Obama signed a $600 million bill to increase security on the U.S.-Mexican border and add customs officers at ports of entry. U.S. manufacturers and food growers are pressing Congress and the Obama administration to act on a long-delayed replacement cross-border trucking plan. “Ignoring the trucking issue and failing to abide by our trade commitments has real economic costs,” said Bill Reinsch, president of the National Foreign Trade Council.
http://www.joc.com/trade/mexico-expands-retaliatory-tariffs-truck-dispute
