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International Trade

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About International Trade


International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product.

Agoa Forum: Has the US trade pact benefited Africa?

Agoa Forum: Has the US trade pact benefited Africa?
Nov 1,2023 11:31 pm

... 4bn, mostly oil, while Kenya came third with about $523m, according to statistics from the US International Trade Commission (ITC) and US Department of Commerce...

Big banks linked to products with pangolin and leopard parts

Big banks linked to products with pangolin and leopard parts
Oct 24,2023 8:51 pm

... Both are also listed on the CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora) treaty which prohibits international commercial trade in them and their parts, in a bid to ensure their survival in the wild is not threatened...

Angela Rayner handed new role as Keir Starmer reshuffles top team

Angela Rayner handed new role as Keir Starmer reshuffles top team
Sep 4,2023 10:41 am

... Nick Thomas-Symonds, whose International Trade brief was merged with the business department, has been handed a more junior role shadowing the Cabinet Office...

Turtle swept 4,000 miles to Wales flies home to Texas

Turtle swept 4,000 miles to Wales flies home to Texas
Aug 30,2023 12:10 pm

... The Convention on International Trade in Endangered Species of Wild Fauna and Flora () is an international agreement between governments...

UK inflation and interest rates high - how do other economies compare?

UK inflation and interest rates high - how do other economies compare?
Jul 22,2023 9:50 pm

... Also International Trade being slower to recover from that shock than it was in other major countries...

The tech flaw that lets hackers control surveillance cameras

The tech flaw that lets hackers control surveillance cameras
Jun 26,2023 7:30 am

... Hikvision cameras are used to monitor many government buildings too - in a single afternoon in central London, Panorama found them outside the Department for International Trade, the Department of Health, the Health Security Agency, Defra and an Army reserve centre...

Labour defends donations from Just Stop Oil backer Dale Vince

Labour defends donations from Just Stop Oil backer Dale Vince
May 31,2023 5:10 am

... Shadow International Trade secretary Nick Thomas-Symonds said Labour had been " extremely clear on our views on Just Stop Oil"...

Ivory ban to extend to hippos and killer whales

Ivory ban to extend to hippos and killer whales
May 22,2023 9:20 pm

... The five species are listed in the Convention on International Trade in Endangered Species of Fauna and Flora (CITES), which regulates their trade internationally...

US and UK finally sit down on steel tariffs

May 18,2023 7:41 am

The US and UK have agreed to open formal talks over Trump-era tariffs on UK steel and aluminium exports.

Trade officials in both countries said they were committed to an " expeditious outcome" That would help preserve metals manufacturers in both markets.

The trade dispute has been a longstanding thorn in relations between the two allies.

The US reached a deal to remove border taxes on European metals shipments Last Year .

Under The Trump administration, the US imposed a 25% duty on foreign steel and 15% tax on foreign aluminium, setting off a firestorm of Criticism - especially from allies, including the UK, who imposed tariffs on some US goods, such as whiskey, in retaliation.

The US has since lifted some of the measures, which were supported by many steel-makers in the US.

Under President Joe Biden , it has reached a deal with Europe and has started negotiations on the issue with Japan.

But British exporters continue to face The Border taxes.

One UK steel exporter has already said it is shifting production to Spain as a result. United Cast Bar Limited it was unlikely to move production back to the UK once it had been moved, unless an agreement was reached with the US very quickly.

In a statement announcing plans to start talks, UK and US trade officials said: " Both parties are committed to working towards an expeditious outcome That ensures the viability of steel and aluminium industries in both markets against the continuing shared challenge of global excess capacity and strengthens their Democratic Alliance . "

The Statement followed a virtual meeting from UK Secretary of State for International Trade Anne-Marie Trevelyan, United States Secretary of Commerce Gina M. Raimondo and United States Trade Representative Katherine Tai.

Ms Trevelyan called Wednesday's meeting " productive" and said " we want a resolution as soon as possible which supports UK businesses and further strengthens our trading relationship".

No date was announced for The Talks to begin, but the UK steel lobby welcomed The News . It said the existing tariffs had reduced UK exports by nearly 50%.

" That a few weeks into 2022 a resolution appears to be in sight is hugely welcome news to the steel sector and steelworkers across the UK, " UK Steel said.

" Given the competitive disadvantage created by the EU deal, it is vital That these talks are concluded swiftly to limit any additional damage to UK producers. "

The industry body added That it hoped the UK would be able to get an even better deal with the US than the European Union as it " put its new independent trade powers to full use".

The Statement from the US and UK also blamed China for over production of the metals - which they said had created " distortions That . . Pose a serious threat to market-oriented steel and aluminium industries in the United Kingdom and the United States , and to the workers in those industries".

They said The Talks were focused on finding a way to partner " to promote high standards, address shared concerns and hold countries That practise harmful market-distorting policies to account".



Source of news: bbc.com

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