Member of the Month Archive

US Merchandise Trade Gap Narrows for First Time in Four Months

Thursday, July 30, 2020

(Bloomberg News) The U.S. merchandise trade gap unexpectedly narrowed in June for the first time in four months as exports jumped by the most on record, signaling the pace of global commerce is stabilizing. The overall balance shrank to $70.6 billion last month from $75.3 billion, Commerce Department data showed. The median projection in a Bloomberg survey of economists called for a $75.4 billion shortfall in June. Exports surged 13.9% from May to $102.6 billion, and imports increased 4.8% to $173.2 billion. While the total value of U.S. two-way trade picked up to $275.8 billion, it’s still well below the pre-pandemic peak a...

EU Challenges China’s Trade Expansion With Landmark Tariff

Monday, June 15, 2020

(Bloomberg) The European Union fired a warning shot at China over its global trade ambitions with an unprecedented tariff decision to counter Chinese subsidies to exporters. For the first time, the EU took aim at alleged market-distorting aid granted by a country to exporters located in another state. To date, such European duties have focused only on subsidies provided by the country where the exporters are based. “It’s a landmark case that could lead to many more similar ones,” said Agatha Kratz, an associate director at Rhodium Group who leads research on EU-China relations and Chinese commercial diplomacy. “Chinese state support is i...

US-United Kingdom Trade Discussions Feature First-Ever Virtual Negotiations

Tuesday, June 09, 2020

(CalChamber) This spring marks 75 years since the end of battles in Europe in World War II. Since 1945, transatlantic cooperation has been all important for the nation’s peace, democracy, shared values of freedom and the rule of law. The United States maintains a deep trade and investment relationship with the United Kingdom, which officially left the European Union on Jan. 31, 2020. Now that the two countries are able to enter into a formal free trade agreement (FTA), negotiations are underway and a second round is scheduled to begin the middle of June. The California Chamber of Commerce believes strengthening economic tie...

Stephen Armstrong Named Greater Irvine Chamber 2020 Partner of the Year

Wednesday, May 27, 2020

Stephen Armstrong, president and co-founder of MAPLE Business Council and principal of 360 Marketer, was named the Greater Irvine Chamber 2020 Partner of the Year for his support and volunteer leadership of the Chamber’s international development initiatives. For a number of years, Armstrong has helped grow the Chamber’s international presence, promote trade between Canada and Orange County, and tout Irvine for trade and investment. As a co-founder of MAPLE Business Council, Armstrong has forged a solid bridge between Canada and California. He is a champion of trade and investment, having executed several successful missions to Vancouver and Toronto to promote Irvin...

Orange County World Trade Week Captures Global Audience

Wednesday, May 20, 2020

In its sixth year, the Greater Irvine Chamber’s annual Orange County Work Trade Week Forum (OCWTW) captured a global audience with attendees tuning in to the digitized event from countries including Canada, the United Arab Emirates, the United Kingdom, and various states in the U.S. A lineup of speakers and panelists from across the globe delivered information on the current state of international trade as it relates to the economic disruptions caused by the Coronavirus. Mark O’Connell, CEO, OCO Global, calling in from Belfast, Ireland, in his keynote discussed Globalization: Pandemic, Populism, and Power, bringing attention to sectors hit hardest by the pandemic including travel and hospitality, aerospace, and transportation, and energy and infrastructure. O’Connell als...

More Important Than Ever: Maintaining and Improving Free Trade, Investment

Tuesday, May 19, 2020

(CalChamber) The world has quickly changed over the last few months and during these strange and uncertain times, the importance of international trade has been on display across the world. Supply chains have been put to the test and global connectivity has proven vital in quickly securing much-needed supplies to fight the COVID-19 pandemic around the world. The World Trade Organization (WTO) stated in an April 2020 report that it expects world trade to fall drastically by between 13% and 32% in 2020 as normal economic activity and everyday life has been disrupted by the pandemic. The WTO expects a recovery i...

NAFTA Ends June 30, USMCA to Start July 1

Wednesday, May 13, 2020

United States Trade Representative Robert Lighthizer recently issued a press release indicating that the United States will implement the US-Mexico-Canada Agreement (USMCA) starting July 1. As a consequence, the North American Free Trade Agreement (NAFTA) will effectively end June 30. While importers who have not claimed NAFTA on their July 2019 through June 2020 shipments will remain able to file post-entry claims for refunds based on NAFTA until June 30, 2021, the announcement means that starting July 1, 2020, importers must be ready to claim USMCA by using the newly created "S" special program indicator (SPI) on their U.S. Customs and Border Protection (CBP) 7501 form...

Online Processing of Export Documentation Now Available Through Greater Irvine Chamber

Wednesday, April 15, 2020

The Greater Irvine Chamber has always been a valued resource for Irvine and Orange County exporting businesses for the processing of export documentation, among many other areas of business growth support. Now, for added convenience, especially during these times of social distancing and remote working, the Chamber offers exporters an online solution. Digital export documentation of Certificates of Origin, Free Sale, and Good Manufacturing Practices, are available through the Greater Irvine Chamber’s online processing service. Beginning April 16, companies can upload documents to the site for review and approval. Processing fees will be waived for the first Certificate of Origin uploaded (one per company...

World Trade Organization Annual Report: Trade Numbers Fall

Friday, April 10, 2020

From the April 8 release of the annual World Trade Organization (WTO) report from Geneva, the key message is: “This crisis is first and foremost a health crisis which has forced governments to take unprecedented measures to protect people’s lives,” WTO Director-General Roberto Azevêdo said. “The unavoidable declines in trade and output will have painful consequences for households and businesses, on top of the human suffering caused by the disease itself. “The immediate goal is to bring the pandemic under control and mitigate the economic damage to people, companies and countries. But policymakers must start planning for the aftermath of the pandemic,&rdquo...

Canada, California, and the Future of Work

Tuesday, February 25, 2020

By Rana Sarkar, Consul General of Canada, Northern California We are living in a time of economic upheaval and transformation, largely due to forces of globalization and the Fourth Industrial Revolution. Dynamics of this new industrial change–such as automation and artificial intelligence, and the rise of the “gig” economy–are dramatically altering how Californians, Canadians and citizens around the world live and work. Many technological developments originate in Silicon Valley, yet governments worldwide and at all levels must grapple with how these developments affect their citizens. As Canada’s Consul General to Northern California, I am fortunate to be able to share Canada’s approach t...

Member of the Month Archive

Subscribe for our updates

Back to Portal