Hong Kong (CNN) – The United States may be on the cusp of the cheapest stimulus package its citizens can imagine -- in the form of a free trade agreement with the European Union across the Atlantic Ocean, according to Karel de Gucht, the EU’s trade commissioner.
But Mexico's candidate for the top job at the World Trade Organization said a deal between the two could pose problems in Geneva.
Adam Wilczewski is Chief of Staff at the International Trade Administration.
This week 12 regionally accredited U.S. academic institutions will take part in the first-of-its-kind education trade mission to Poland and the Czech Republic. The trade mission, which I will have the opportunity to lead, is part of a larger effort to increase the number of foreign students studying in the United States.
As the second anniversary of the National Export Initiative (NEI http://blog.trade.gov/2012/03/06/the-national-export-initiative-making-progress-and-striving-for-more/) comes to pass, it gives us a chance to examine the impact of a concerted effort to consciously “develop” international trade. Thousands of firms exporting for the first time, trade up 34%, jobs created here at home. U.S. firms proving that they are extremely competitive in the international marketplace. Not bad for two years…
Trade with South Korea (the world’s 12th largest economy) had been virtually on hold as tariffs remained prohibitively high, while the Agreement sat on Capitol Hill. The signing of the U.S. Korean Trade Agreement will release an enormous bottleneck of trade activity that I believe will enable the U.S. to claim a victory for the NEI.
$3.1 trillion in exports suddenly doesn’t seem so out of reach….
Vermont sits between the eleventh largest city by GDP ( http://www.foreignpolicy.com/node/373401) and the thirty-fifth – Boston and Montreal, respectively. Vermont also ranks last (50th) in expenditures to support international trade, despite the fact that exports from Vermont’s small and medium-sized firms continue to show impressive strength and growth. A concerted effort, along with strategic investments in Vermont’s infrastructure (Highway, Rail, and Border technology) and international trade technical services, will also lead to growth. Until then, Vermont will remain the Last Frontier…
Despite deep levels of political engagement between the US and Japan, the Japanese market remains a case study when discussing ‘obstacles to market penetration’. Traditionally, a company looking to capture Japanese market share would need to understand the complex channels of distribution, the regulatory regime and deep cultural nuances. Fascinating to me, is how a decades-old system can change in an instant and ultimately result in a change of trade flow, investment and opportunity, for those ready and willing to act.
Vermont’s Hurricane Irene event was no Fukushima, but it does present some unique opportunities when it comes to trade flows. Vermont’s infrastructure is largely based on a 200-year old agricultural economy (history of Vermont roads goes back to 1749), overlapped by a highway system built in the 1930s. The impact of trade in some of these overused, aging corridors is apparent and seems to justify attention. Just as Japan has been forced to change its approach to international trade, it will be interesting to see if Vermont can continue to seize its “instant” and realize the potential of adaptation to new norms. The improvements made to our North/South rail line, highway weight maximums, and the EB-5 program are topics for another day….
Martin Johnson and Chris Rasmussen are Senior Economists in the Office of Industry Analysis within the International Trade Administration
For the first time in U.S. history annual exports of goods and services crossed the $2 trillion threshold exceeding $2.1 trillion in 2011. This increase in exports builds on the strong growth in 2010, and in 2011 exports of U.S. goods and services were up over 33 percent from 2009.
Thanks for stopping by. Today marks the start of my blog, which will focus on international trade, trade development and its impact on the local, regional and global economy.
Some might say, “Bor-ing….Snoresville”, but they don’t know what it’s like living on the fringes of the most competitive regional market in the world.
I am based in northwestern, Vermont, USA – the Last Frontier.
Why do I call Vermont, “The Last Frontier”? I hope you will join in my discussions and find out, because if you are interested in job creation, economic strength and competitiveness or how the millions of products we see each day actually get to us, this blog should prove to be interesting. This is my take, as an international trade specialist
Thanks for reading, Enjoy.