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South Korean Delegation Visits Greater Irvine Chamber

Wednesday, January 16, 2019

A trade delegation of business leaders and tech experts from Gumi, South Korea, along with City of Gumi representatives and Mayor Dr. Se Yong Jang visited the Greater Irvine Chamber to learn more about Irvine’s strong tech sector and to deepen partnerships with tech companies based in Irvine. Facilitating a soft landing for potential foreign direct investors, the Chamber provided delegates a presentation on resources available through the Chamber. As part of their trip, the delegates met with Greater Irvine Chamber President and CEO Bryan Starr and Executive Vice President Linda DiMario, as well as Irvine city leaders including Mayor Donald...

Why Slowing Economies Could Prod US and China to Reach Deal

Thursday, January 03, 2019

The Trump administration and China are facing growing pressure to blink in their six-month stare-down over trade because of jittery markets and portents of economic weakness. The import taxes the two sides have imposed on hundreds of billions of each other’s goods — and the threat of more to come — have heightened anxiety on each side of the Pacific. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports. Their conflict is occurring against the backdrop of a slowdown in China and an expected U.S. slump that a prolonged trade war...

The Taxation of US Corporations in Canada and the impact of the Canada-US Tax Treaty on Corporate Residency Status

Tuesday, December 18, 2018

By Todd Trowbridge, Partner Corporate Tax, Trowbridge A frequent question that often arises in our discussions with U.S. companies who want to expand into Canada is how our country goes about taxing foreign corporations. Residency Status The process typically begins with determining whether the particular corporation is considered to be resident in Canada for tax purposes. A corporation may be considered resident in Canada without being a Canadian corporation. A corporation that is resident in Canada for tax purposes is subject to tax in Canada on its worldwide income. Since residency is not specifically defined in the Income Tax Act (ITA), tax residency is...

Next Steps for North American Trade

Tuesday, December 11, 2018

After more than a year of negotiations, with plenty of ups and downs along the way, President Donald Trump, Canadian Prime Minister Justin Trudeau, and now former Mexican President Enrique Peña Nieto signed the U.S.-Mexico-Canada Agreement (USMCA) on November 30. This agreement – a follow-on to NAFTA – will modernize the trade partnership that has formed the basis of North American relations for a quarter of a century. After carefully assessing the new deal and its impact on our members, the U.S. Chamber of Commerce has thrown its support behind the USMCA, which is critical to maintaining strong economic growth in...

Statement of the U.S. Chamber of Commerce and the U.S.-Japan Business Council

Tuesday, December 11, 2018

The U.S. Chamber of Commerce and the U.S.-Japan Business Council provided a written testimony to the U.S. International Trade Commission on Dec. 10, on negotiating objectives for a U.S.-Japan Trade Agreement. As stated in the testimony, the organizations aimed to “emphasize the importance of any potential U.S.-Japan trade agreement to set high-standards and rules in the Indo-Pacific while noting that others in the region are rapidly pursuing and finalizing agreements that have similar potential and far-reaching implications for American business interests.” The potential agreements include the Comprehensive and Progressive Agreement for Trans-Pacific Partnership that will enter into force Dec. 30, 2018, and...

UK Trade with Canada Up 14 Percent since New Free Trade Agreement Introduced

Tuesday, December 11, 2018

New statistics released in December reveal that British businesses are already benefiting from the ability to trade freely with Canada without paying any duties at Canadian customs. UK exports of goods to Canada have increased by 13.7 percent to £6.15 billion in the last 12 months since a new free trade agreement was introduced. The growth in exports coincides with the provisional implementation of the EU-Canada Comprehensive Economic and Trade Agreement (CETA) in September 2017. It is a significant increase when compared to the 5 years prior to the agreement being introduced, which saw annual trade increase by an average of just 3.9...

US Companies Can Grow Their Business in Southeast Asia Thanks to New Agreements with Singapore

Tuesday, December 11, 2018

The Commercial Service team in Singapore has developed several new agreements with Singapore leaders that will help U.S. companies grow their business in the Indo-Pacific, particularly in the region known as ASEAN—the Association of Southeast Asian Nations. With a combined population of 647 million people, a burgeoning middle class, and a young and growing population, the ASEAN region presents tremendous commercial opportunities for U.S. companies. On Sept. 13, Under Secretary for International Trade Gil Kaplan signed Statements of Intent on behalf of the International Trade Administration (ITA) with the Singapore Business Federation, the U.S. Chamber of Commerce, and the Singapore Manufacturing...

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