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Archives, Dispatches, Global Trade Daily

GT Magazine’s Good Reads

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-The New (Ab)Normal – Reshaping Business and Supply Chain Strategy Beyond Covid-19 by Yossi Sheffi, the Elisha Gray II professor of Engineering Systems, professor of Civil and Environmental Engineering and director of the Center for Transportation & Logistics at MIT. The New (Ab)Normal paints a compelling picture of how the Covid-19 virus is changing many facets of human life and what our post-pandemic world might look like, making the book a must-read for logistics and supply chain professionals. 

-Eurasia Group’s Top Risks for 2021, the New York-based global political risk research and consulting firm’s annual prediction of the 10 greatest threats to the trajectories of nations, global politics, industries and institutions. Co-written by Eurasia Group President Ian Bremmer and Chairman Cliff Kupchan, the report finds Joe Biden’s presidential victory as the No. 1 risk in the world due to half of America’s voters believing he was elected illegitimately. Other top risks of 2021 include U.S.-China tensions that include disagreements over trade and climate policy that could place bifurcation pressures on the clean energy supply chain. Find the full report here: www.eurasiagroup.net/issues/top-risks-2021.

-“Expanding Your Business Into Mexico,” a new business guide from global recruiter Leap29. The guide covers employment laws and regulations, key tax and labor authorities, the immigration process and more. Find it here: info.leap29.com/mexico-business-guide. 

–Blackcat360.com, a new business development and international trade listings website that was developed to assist businesses in finding what they need in specific countries or regions of the whole world. Totally free, the website has listings available for 50 categories of products and services to cover every sector of the economy. “[T]he only exclusions are pornography, hate, spammers, scammers and anything illegal,” states the company. “The focus is very much business to business but for example, a hotel or bar may wish to list to develop more business in the corporate sector.” 

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Archives, Dispatches, Global Trade Daily, News

FLYING CARS ARE APPARENTLY ON THE WAY…TO CHANGE LOGISTICS

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“A 3D transport swarm is coming to your city soon.”

That is not the rambling of a geek pretending to be a nerd who is hiding his dorkiness in his mother’s basement behind a big screen permanently fixed on Syfy.

It comes from none other than Morgan Stanley, which continues, “Over the past day, we’ve seen a number of interesting developments around the UAM (Urban Air Mobility) and eVTOL domain that comprise just a small part of what is clearly becoming a profound development. GM unveiled the latest rendering of its Cadillac branded eVTOL at CES. And the previous day, Tom Enders (former head of Airbus) joined the board of Lilium. Many of our clients may, understandably, chalk the excitement around flying cars to free money and a frothy market environment. Oh sure, that helps… but we believe there are bigger forces at work and worth investor attention today.”

The multinational bank and financial services company’s frequent flyers go on to lay some implications flying cars will have, including a post-COVID, final-mile role in logistics and e-commerce.

And while no less than Tesla CEO Elon Musk has historically dismissed UAM transport modality—due to noise, privacy and general annoyance concerns—Morgan Stanley says, “[W]e would not bet against Tesla unveiling a concept in the UAM arena in the near future.”

ITC
Archives, Global Trade Daily, News

LATEST: Commerce Initiates Antidumping and Countervailing Duty Investigations on Utility Scale Wind Towers from India, Malaysia, and Spain

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On November 10, 2020, the U.S. Department of Commerce (“Commerce”) announced the initiation of antidumping (“AD”) and countervailing duty (“CVD”) investigations on Utility-Scale Wind Towers from India, Malaysia, and Spain (Spain is AD only). The petitioners in this case are the Wind Tower Trade Coalition.

The International Trade Commission (“ITC”) is currently scheduled to make its preliminary determinations on or before December 4, 2020. If the ITC determines that there is a reasonable indication that imports of utility-scale wind towers materially injure or threaten the U.S. domestic industry, the investigation will continue and Commerce will be scheduled to announce its preliminary CVD determination on January 13, 2021, and its preliminary AD determination on March 29, 2021.

If the ITC’s determinations are negative—finding that imports of utility-scale wind towers do not pose a risk of injury to the domestic industry—the investigations will be terminated.

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Julia Banegas is an attorney in Husch Blackwell LLP’s Washington, D.C. office.

Camron Greer is an Assistant Trade Analyst in Husch Blackwell LLP’s Washington D.C. office.

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Archives, Global Trade Daily, News

G12 EXPORT CREDIT AGENCY ISSUES FIRST-EVER JOINT STATEMENT

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At the Sept. 9 end of the two-day 2020 G12 Heads of Export Credit Agencies (ECAs) meeting, which EXIM Bank hosted virtually from its Washington, D.C. headquarters, the 12 Heads of ECAs issued this first-ever G12 joint statement:

The 2020 G12 Heads of Export Credit Agencies (ECA) Meeting was a productive and open exchange that highlighted efforts aimed at stabilizing the availability of working capital and export credit in a volatile international market environment. The transparent discussion brought forth the important work each ECA is undertaking to mitigate the economic impacts of the COVID-19 pandemic. The ECA leaders reiterated their steadfast commitment to supporting their global supply chains—domestically and internationally—as well as promoting exports, job security, and financial investment, all of which underpin prosperity at home and abroad.

During the meeting, EXIM Chairman Kimberly A. Reed met with her counterparts from Brazil, Canada, China, France, Germany, India, Italy, Japan, Russia, the Republic of Korea and the United Kingdom.

“In the wake of the COVID-19 pandemic, this is an important time for Export Credit Agency leaders from around the world to find common ground on key initiatives, especially those that foster greater transparency,” Reed says in a post-meeting statement.

“I am pleased that my foreign counterparts could join me virtually for a robust two-day discussion and look forward to continuing our important work of ensuring a level playing field for exporters around the world.”

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Archives, Global Trade Daily, International Trade

Trump Signs USMCA Into Law But Not Everyone is Cheering

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President Donald Trump signed the United States-Mexico-Canada Agreement (USMCA) into law at a Jan. 29 White House ceremony, officially canceling the North America Free Trade Agreement (NAFTA). “The USMCA is the largest, most significant, modern, and balanced trade agreement in history,” Trump told admirers and the press. “All of our countries will benefit greatly.”

“Thanks to the unyielding dedication of President Trump, the United States will now have a fair and reciprocal trade agreement with Mexico and Canada,” reacted U.S. Secretary of Labor Eugene Scalia. “USMCA will bring jobs, increased trade and stronger economic growth to our already record-setting economy, growing GDP by as much as $235 billion and adding as many as 500,000 new jobs.

“President Trump has delivered on a promise,” Scalia continued. “This historic agreement will level the playing field for American workers, preparing American businesses for the demands of a 21st Century economy. The Department of Labor stands ready to fully implement USMCA to the benefit of American workers.”

An independent report by trade credit insurer Atradius found the USMCA “has reduced trade policy uncertainty in North America, shielding Mexico and Canada from any global tariffs on cars the U.S. might impose on national security grounds.”

But not everyone was cheering. “USMCA is only marginally better than previous trade deals and doesn’t do nearly enough to create American jobs, increase workers’ wages, or protect workers and the environment,” states Groundwork Collaborative, an initiative dedicated to advancing a coherent, persuasive progressive economic worldview and narrative. “Trade is like every other economic issue: It is only really working when it is working for ALL people, not just the wealthy and well-connected. USMCA doesn’t meet that standard and is a major missed opportunity.”