International Trade News
A plummeting stock market and the devaluation of the yuan have knocked China down a peg, but the Asian manufacturing powerhouse will still grow its trade with the world more than 5 percent annually over the next five years, according to a recent IHS forecast.
Plummeting U.S. exports of recycled paper contributed to a 5.2 percent decline in overall U.S. exports during the first half of 2015, as lower-value commodities were hit by weak demand, a strong dollar and the lingering impact of West Coast port delays.
Containerized exports of poultry through U.S. ports plunged 20 percent during the first half of 2015 because of a multistate outbreak of highly pathogenic avian influenza.
China’s currency has now fallen 3.5 percent in two days after the central bank on Tuesday triggered the yuan’s greatest one-day decline in 20 years, and it is expected to fall further as the country struggles to reverse a sharp drop in trade recorded in July.
California’s export trade declined 4.2 percent in June, as weakness in key markets such as China, Japan, the European Union and Latin America and a strong dollar weighed down sales of manufactured and non-manufactured goods.
U.S. scrap metal exports took a tumble in the first half of 2015 and are expected to fall even more by year’s end, as the strong U.S. dollar continues to weigh on all American exports.
Trade ministers failed to cinch up a deal between a dozen Pacific Rim nations Friday, what could have been their last chance to negotiate the terms of a Trans-Pacific Partnership before the end of the year.
HONG KONG — Australia is preparing for a free trade agreement with its largest trading partner China that is se
Americans love imported footwear. They bought 2.3 billion pairs of shoes, boots, sneakers, sandals and sundry other styles last year. That comes out to 7.3 pairs for every man, woman and child. While not enough to make Imelda Marcos green with envy, it’s enough to turn a lot of footwear executives gray with worry about where in the world to get them made at a cost and quality that will entice Americans to buy more.