Issue 55| October 24, 2014
Euratex praises TTIP negotiations between Europe & U.S.
Euratex, the voice of the European textile and clothing industry, sees current Transatlantic Trade and Investment Partnership (TTIP) negotiations between Europe and U.S. as a perfect opportunity to help European and American companies, especially SMEs, gain mutual benefits.  Euratex released a position paper stating issues such as consumer safety requirements, burdensome U.S. custom procedures, and the U.S. 'Berry Amendment' are crucial to address. Read more.
Honduras deteriorating due to trade agreements 
The Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR)  is seen as the first free trade agreement made between the U.S. and the smaller developing economies of Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua.  Implemented 10 years ago it was meant to create new economic opportunities in Honduras yet in the past few years Hondurans have seen a total breakdown of their trade regime.  20,000 businesses were shut down in the last year and violence and economic issues continue to grow rapidly. Read more.
The positive transformation of economic relations  
Secretary of Commerce Penny Pritzker's trade mission to Tokyo will be the first major trade mission to Japan since 1992.  This marks a transformation in U.S.-Japan economic relations, formerly filled with economic stagnation and trade wars, to a relationship of renewed mutual interest and market opportunities.  Under the Abe administration's economic reform agenda, Japan is trying to advance more foreign friendly structural reforms in key areas such as healthcare and energy. Read more.
U.S. faces potential trade sanctions after WTO ruling on meat labeling
On Monday, the World Trade Organization (WTO) ruled that the U.S. Country of Origin Labeling rule does not comply with international fair trading rules, because it unfairly favors U.S. meat and gives less favorable treatment to beef and pork imported from Canada and Mexico.  Canada and Mexico are calling on the U.S. to repeal their rules or face sanctions on U.S. exports.  Canada has already listed potential U.S. targets including wine, chocolate, ketchup, and cereal unless the revised U.S. labeling rules are cleared by WTO Appellate Body. Read more.
U.S. Trade Representative conducts an Intellectual Property laws rights case against India
U.S. Trade Representative (USTR) began processing the out-of-cycle review of India's Intellectual Property (IP) laws and included India again in the priority watch list combined with additional inspection. The USTR has listed several areas of concern in India's IP protection and enforcement regime. These issues raised serious concerns about the innovation climate in India and hinder India's progress towards an innovation-focused economy. Read more.
Ocean of differences keeps TPP negotiations unresolved 
The conclusion of the Trans-Pacific Partnership (TPP) negotiations remains dependent upon the resolution of domestic politics between U.S. and Japan. A conclusion is expected to be reached at end of November, but it is highly probable that the deadline will not be met.  President Barack Obama does not have what is known as "fast track authority" from Congress which gives the administration the ability to negotiate the TPP treaty.  Yet, political issues still remain unresolved between U.S. and Japan, and until requirements of each party are met no decision can be made. Read more.

Boosting the State's efforts to grow international business opportunities for California's companies

Join the Global Initiatives Council for the last session of the year as we hold a special round- table discussion with the chair of the California International Trade and Investment Advisory Council Ambassador Eleni Kounalakis.  

Register Now! 

Compiled by Global Initiatives Interns Michelle Dong and Ranika Perera .

For more information, contact Aaron Borboa, 213.580.7583.