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Strong California Economy, Jobs Depend on Worldwide Free Trade, Investment

Tuesday, May 21, 2019

With trade being a top tier national issue, the California Chamber of Commerce continues to communicate its international trade priorities to secure a national free trade agenda. Such an agenda is in keeping with the CalChamber’s long-standing support for eliminating disincentives that impede the international competitiveness of California business. The economic advances that international commerce makes possible are clear, despite the regular attacks, and World Trade Month activities each May appropriately provide many opportunities to acknowledge the importance of global trade to the economies of California and the United States. The U.S. Department of Commerce reports that more than 97 percent of...

US, China Need to Reverse Course in Trade Row to Help Economy Says OECD

Tuesday, May 21, 2019

Economic growth in China and the United States could be 0.2-0.3 percent lower on average by 2021 and 2022 if the two countries do not row back on tit-for-tat tariffs in their dispute that has dampened the global economic outlook, the Organisation for Economic Cooperation and Development (OECD) said. U.S. President Donald Trump has raised tariffs on $200 billion on Chinese imports to 25 percent from 10 percent in the long-running trade row, while Beijing said it would hit back by lifting tariffs on $60 billion in U.S. goods. The global economy would grow by only 3.2 percent this year as growth...

Canada and Mexico Also Agree to Remove Their Retaliatory Duties

Monday, May 20, 2019

The United States and Canada announced that an agreement has been reached to remove the 25 percent "Section 232" duties on Canadian origin steel and 10 percent "Section 232" duties on Canadian origin aluminum. As part of the agreement, Canada also agreed to eliminate the retaliatory duties it had been charging on U.S. origin steel and aluminum, as well as on other non-steel/aluminum products. Canada and the United States also agreed to drop litigation at the World Trade Organization related to the steel and aluminum tariffs and to take steps to prevent aluminum and steel from being dumped and/or transshipped into...

OC World Trade Week Event Delivers a Power Packed Program

Monday, May 20, 2019

Joining more than 500 attendees at the Greater Irvine Chamber’s fifth annual Orange County World Trade Week (OCWTW) Breakfast and Forum , was an impressive list of International-American chambers, business associations, public sector and private trade organizations, Consulate Generals from across Orange and Los Angeles counties, and members of business community to exchange ideas and learn from experts in international trade and exporting. Steve Wagner, global managing director of Experian Decision Analytics, delivered a keynote on the topic of cybersecurity. Wagner discussed solutions and tools to better manage fraud as it relates to international transactions, and safeguard data against the constant...

CalChamber Reiterates Support for US-Mexico-Canada Agreement

Tuesday, May 14, 2019

The California Chamber of Commerce reminded the state’s representatives in Congress of the importance of the pending U.S.-Mexico-Canada Agreement (USMCA) to the U.S. and California economies. The CalChamber continues to urge all members to ask their California congressional representatives to support the USMCA. Background The CalChamber actively supported the creation of the North American Free Trade Agreement (NAFTA) among the United States, Canada, and Mexico, comprising almost 495 million people and combined annual trade with the United States of around $1.228 trillion in 2018. In 2018, goods exported topped $563.729 billion while goods imported totaled nearly $665.008 billion. President Donald J. Trump announced his intent...

Trade War Rattles Southern California Industry Leaders

Tuesday, May 14, 2019

Southern California economists and industry leaders sounded the alarm as the nation’s mounting trade war with China was poised to upend production costs for scores of local companies and boost consumer prices. “It’s getting deep enough into the trade war that it’s starting to get a little bit scary — it’s starting to have a serious impact,” Inland Empire economist John Husing said. “And China has retaliated. That makes it more difficult to sell things to China, so it hurts our employee base here.” The latest volley landed when the Trump administration said it was increasing import tariffs on $200 billion of...

U.S. Senators Vote to Unleash Full Potential of Export-Import Bank After Nearly 4 Years

Tuesday, May 14, 2019

In a bipartisan vote last week, the U.S. Senate confirmed three members for the Export-Import Bank Board of Directors to restore the export credit agency to full financing capacity. The three members, confirmed by the U.S. Senate on May 8 to serve staggering terms, are: Kimberly Reed as President and Chairman of the Board of Directors, with a term expiring in January 2021. Spencer T. Bachus III as a board member, with a term expiring in January 2023. Judith Delzoppo Pryor as a board member, with a term expiring in January 2021. Remaining board member nominees, including one for Ex-Im Bank vice president, are lined...

USTR Publishes List of Products Excluded From China Tariffs

Tuesday, May 14, 2019

The U.S. Trade Representative (USTR) released a fourth set of exclusions for 40 products covered by the original "List 1" Section 301 tariffs on Chinese products. Previously, in December 2018, the USTR published a first list of products that would be excluded from List 1. A second and third list of products were published on March 25, 2019 and April 18, 2019, respectively. Today's publication represents a fourth tranche of exclusions regarding List 1. The 40 excluded products are: (1) 8407.21.0040 (2) 8427.10.4000 (3) 8473.40.1000 (4) 8481.10.0090 (5) 8483.50.9040 (6) Apparatus, including pitchers, bottles, and units designed for incorporation into refrigerators, appliances or sink faucets, the foregoing fitted with...

OC World Trade Week Partners Include International-American Chambers, Trade Organizations

Monday, May 06, 2019

The fifth annual Orange County World Trade Week (OCWTW) Breakfast and Forum, to be held on Thursday, May 16, is supported by an impressive partner list of Orange County International-American chambers, and trade organizations. The event will also be attended by a number of Consulate Generals from across Orange and Los Angeles counties. “This reflects a powerful coalition of organizations that understand and appreciate the value of trade across the globe and implications for our economy and our place in the global economy,” said Linda DiMario, executive vice president, Greater Irvine Chamber. “Their commitment to this event and dedication to helping businesses grow...

UCI Applied Innovation Collaborates with Netherlands Health Campus for Innovation and Entrepreneurship

Wednesday, May 01, 2019

With a vision to help make Orange County a national and global leader in scalable innovation, UCI Applied Innovation recently entered into the Innovation and Entrepreneurship Collaborative Agreement with Brightlands Maastricht Health Campus of the Netherlands. The agreement was formally signed by Richard Sudek, chief innovation officer and executive director, UCI Applied Innovation, and Jan Cobbenhagen, CEO, Brightlands Maastricht Health Campus, during a ceremony commemorating the partnership. The signing of the agreement was followed by a ribbon cutting ceremony, led by Gerbert Kunst, Counsul General of the Netherlands, to celebrate the opening of their office at UCI Applied Innovation. The event recognized...

Irvine’s US Export Assistance Center Director Jim Mayfield to Speak Trade Trends at OC World Trade Week

Monday, April 29, 2019

The 2019 Orange County World Trade Week Breakfast and Forum (OCWTW) will include an overview of trends and key data points for trade in Orange County from Jim Mayfield, director of the U.S. Export Assistance Center, Irvine, the commercial service of the International Trade Administration with the U.S. Department of Commerce. Mayfield began his assignment with the Irvine Export Assistance Center in 2012, moving on to become director two years later. Prior to joining the Irvine office, Mayfield served as the Principal Commercial Officer at the U.S. Consulate in Ho Chi Minh City, Vietnam from 2009 - 2012. He has also...

US, China Aim for Early-May Announcement on Trade Deal

Friday, April 19, 2019

Senior U.S. and Chinese officials are scheduling more face-to-face trade talks in an effort to reach a deal by early-May that President Donald Trump and his Chinese counterpart Xi Jinping could sign later that month, two people familiar with the plans said. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin plan to travel to Beijing the week of April 29, according to the people, who spoke on condition of anonymity to discuss internal deliberations. The next week Chinese Vice Premier Liu He will come to Washington for negotiations. During his visit, officials want to announce the sides have struck...

China Says Trade Talks With US ‘Moving Forward’

Friday, April 12, 2019

China said that trade talks with the U.S. are “moving forward” after nine rounds of consultations aimed at ending a standoff that has shaken the world economic outlook. The latest discussions had achieved “new substantial progress,” Foreign Ministry spokesman Lu Kang said at a daily news briefing. “We also feel that the consultation is moving forward. We hope that the two sides can continue to work together to properly address each other’s concerns on the basis of mutual respect, equality and mutual benefit,” Lu said. Lu’s comments were echoed by those from Commerce Ministry spokesman Gao Feng, who said “new progress” had been...

Call for Nominations: Orange County Exporter of the Year

Wednesday, March 27, 2019

Each year, the Orange County World Trade Week Breakfast and Forum (OCWTW) takes the opportunity to showcase a business that has expanded its markets through successful export strategies. The Greater Irvine Chamber, in partnership with the District Export Council and SCORE OC, is seeking nominations for the 2019 Exporter of the Year Award. Eligible entrants may be small, medium, or large companies in Orange County, which have made the decision to expand their markets and grow their sales by exporting. The Chamber is looking to share interesting and compelling stories and novel strategies leading to success in exporting. “The Exporter of the...

Multitude of Irish-US/California Trade, Investment Ties in Spotlight

Tuesday, March 19, 2019

The strong trade and investment links between Ireland and the United States, as well as California, were celebrated last week at a California Chamber of Commerce breakfast held in conjunction with CalChamber Board events. The CalChamber Council for International Trade meeting, sponsored by Frontier Communications, was one of several gatherings in the week leading up to St. Patrick’s Day featuring the release of the US-Ireland Business 2019 report by the American Chamber of Commerce (AmCham) Ireland. Speaking at the March 15 breakfast were the Honorable Simon Harris, Irish minister for health and former minister of state; Carin Bryans, vice president of AmCham...

UK Fieldfisher Law Experts Detail Implications of Brexit for Irvine/US Medical Device Manufacturers and Distributors

Tuesday, March 19, 2019

Deal. No deal. EU extension or second referendum. The one word everyone agrees upon when describing Brexit and its implications for the U.K. and every company that does business in the country is: uncertainty. Although the March 29 deadline is looming, negotiations with the EU for a delay and Parliament debate continues. Fieldfisher, the European law firm specializing in lifesciences and technology law visited the Greater Irvine Chamber on March 19. Alison Dennis, Partner with the London Office, met with the Chamber and its foreign direct investment delegation in 2017, just months after the Brexit vote. Knowing that Irvine has a...

California Still a Top Exporting State

Thursday, March 14, 2019

The U.S. Department of Commerce now has 2018 trade statistics available through the International Trade Administration’s (ITA) “Trade Stats Express.” In 2018, California exported $178.4 billion to 230 foreign economies, up from $172 billion in 2017. California’s top export markets are Mexico, Canada, China, Japan, and South Korea. California is one of the 10 largest economies in the world with a gross state product of more than $2.5 trillion. International trade and investment are major parts of the state’s economic engine that broadly benefit businesses, communities, consumers and state government. California’s economy is diverse, and the state’s prosperity is tied to exports...

Chinese Delegation Visits Greater Irvine Chamber

Wednesday, March 13, 2019

A trade delegation of more than 20 business leaders and government officials from the Chinese province of Shaanxi in March visited the Greater Irvine Chamber to learn about services available through the Chamber, and how the organization operates as a business association. The Chamber’s economic development team presented on Irvine’s strengths as a master-planned community; the city is an economic powerhouse, with its strong life-science and technology sectors, and robust innovation eco-system. As part of their visit, the delegates met with Bryan Starr, president and CEO, Greater Irvine Chamber. Driving forward economic development in the region, the Greater Irvine Chamber regularly hosts international delegations...

CalChamber Joins in Launching Coalition Supporting U.S.-Mexico-Canada Pact

Friday, March 01, 2019

The California Chamber of Commerce has joined more than 200 companies and associations in launching the USMCA Coalition, which will advocate congressional approval of the United States-Mexico-Canada Agreement. The coalition includes a diverse group of businesses, farmers and ranchers, manufacturers, service providers, and technology companies in support of the USMCA. To join the coalition, click here. Over the coming weeks and months, the USMCA Coalition will make the case for expeditious passage of the agreement to members of Congress, and will work to educate employers and members of Congress about the benefits of the new deal. The effort will harness the advocacy strength of a broad...

NAFTA 2.0 Creates Freer, Fairer Economic Growth

Friday, February 22, 2019

The United States-Mexico-Canada Agreement (USMCA) underscores a renewed understating among the USMCA parties on the importance of our mutual trading relationships, everyone agreed yesterday at an international luncheon at the California Chamber of Commerce to celebrate Canada Day in Sacramento. With the support of the Consulates General of Canada of San Francisco and Los Angeles and the Consulate General of Mexico in Sacramento, experts convened at the CalChamber for a thorough update and discussion on the agreement with more than 100 attendees. The Honorable Zaib Shaikh, the new Consul General of Canada in Los Angeles set the tone for the discussion saying...

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