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Thread: "Mexico and EU reach new trade deal"

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    Default "Mexico and EU reach new trade deal"

    "The wide-reaching deal will simplify the customs process and eliminate tariffs for "practically all" goods traded between EU-member nations and Mexico, according to an announcement posted Saturday by the European Commission."

    "The deal marks a move by Mexico to pivot away from its reliance on trade with the United States."

    http://money.cnn.com/2018/04/22/news...ent/index.html

    Add in the twelve member Far East CPTPP formed immediately after Trump killed any discussion with TPP and you can see the rest of the world is not only moving on while the President talks his "big deals" and "deal maker" but actually advancing while the US stands still

    Trumponomics

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    bilateral trade agreements are not a bad thing by anyone involved . we are still in NATA-negotiations are tough as expected

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    Mexico fully expects to reach a consensus on NAFTA trade deal

    "In the baseline scenario of the central bank, we have that there will be a version of NAFTA," Mexican Central Bank Governor Alejandro Diaz de Leon told CNBC's Joumanna Bercetche on Saturday.
    Alongside the U.S. and Canada, Mexico is in the midst of eight-month-old talks to try to update the NAFTA deal — which is thought to underpin about $1.2 trillion in yearly trilateral trade.
    Ministers from the U.S., Canada and Mexico are trying to press ahead with the negotiations in order to try to avoid clashing with a presidential election in Mexico on July 1.



    Mexico believes it is on the brink of agreeing to the modernization of the North American Free Trade Agreement (NAFTA).

    Alongside the U.S. and Canada, Mexico is in the midst of eight-month-old talks to try to update the NAFTA deal — which is thought to underpin about $1.2 trillion in yearly trilateral trade.

    "In the baseline scenario of the central bank, we have that there will be a version of NAFTA," Mexican Central Bank Governor Alejandro Diaz de Leon told CNBC's Joumanna Bercetche on Saturday.

    "We know that there have been ups and downs in the negotiation … (But) we do hope that the advantages for the three countries will prevail in some version of the agreement," he added.
    Rules of origin

    In an apparent bid to try to quickly wrap up the reworking of the 24-year-old accord, leading Mexican officials have sought to convey an upbeat tone in recent days.

    Late last week, Mexico's Economy Minister, Ildefonso Guajardo, said lawmakers had made "a lot of progress" after the second day of meetings with U.S. Trade Representative Robert Lighthizer and Canada's Chrystia Freeland. And on Sunday, Mexican President Enrique Pena Nieto said his country was feeling optimistic about the prospect of being able to successfully conclude the talks in the coming weeks.
    Canada's Foreign Minister Chrystia Freeland (C) speaks before the start of a trilateral meeting with Mexico's Economy Minister Ildefonso Guajardo (L) and U.S. Trade Representative Robert Lighthizer during the third round of NAFTA talks involving the United States, Mexico and Canada in Ottawa,

    Ministers from the U.S., Canada and Mexico are trying to press ahead with the negotiations in order to try to avoid clashing with a presidential election in Mexico on July 1. Nonetheless, reaching this milestone would mean overcoming major differences on several U.S. demands.

    Canada and Mexico have battled with the U.S. over their apparent reluctance to adhere to tougher NAFTA regulations on the content of vehicles made in North American nations. Often referred to as the rules of origin, it is widely considered to be a key sticking point to the talks.

    President Donald Trump's negotiators had initially called for tariffs on the content of vehicles made in NAFTA nations to increase to 85 percent from 62.5 percent. However, Washington's stance over this issue has reportedly softened in an effort to reach a consensus with their North American neighbors sooner rather than later.
    Market has 'priced in' NAFTA outcome

    The U.S. was thought to be looking to secure a deal in principle with the NAFTA agreement sometime over the next three weeks. Meanwhile, Mexico's Guajardo said he saw an 80 percent chance of reaching a deal by the first week of May.

    Trump, who has repeatedly threatened to walk away from the negotiating table in the absence of major changes, has criticized the pact for creating jobs in Mexico at the expense of U.S. workers.

    When asked to what extent it had been a challenge to manage Mexico's currency at a time when tweets from the U.S. president could prompt volatile swings in the exchange rate, Mexico's Diaz de Leon replied: "Obviously some of these news and posture and messages have an effect on the exchange rate, but I also think the exchange rate has been learning how to extract the signal from those pieces of information."

    "So far, the market has priced in the NAFTA event according to what is likely to happen," he added.
    http://money.cnn.com/2018/04/22/news...ent/index.html

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    What's behind the trade battle with China

    Trade tensions between the United States and China exploded last month as the countries started threatening each other with new tariffs.

    The Trump administration is looking to stop what it calls unfair trade practices, targeting perceived imbalances, including alleged widespread intellectual property theft. The Commission on the Theft of American Intellectual Property estimates that China's purported IP theft costs the U.S. between $225 billion and $600 billion each year.

    Case studies aren't hard to find.

    Take California-based Paulson Manufacturing, which makes protective eyewear and shields for industrial workers and firefighters.

    "Within a year of anything new that I put out, I'm being copied somewhere in the world," CEO Roy Paulson said. It was at a trade show in China that he first learned his company was being copied, he said.

    "They even used our company name, duplicated all the products that we have that you can see on our website and have them for sale as a Paulson product in China," Paulson said. It's a theft that's costly. "It's not just lost money to me, that's really lost money to my employees and to the community."

    Marlin Steel, based near Baltimore, engineers and manufactures steel molds from wire to make storage racks, baskets and deep fryers from recycled steel. The seemingly simple products require complex engineering, said CEO Drew Greenblatt, and several years ago he began seeing his products in Google searches for Chinese competitors.

    "We come up with innovative, creative novel ideas. We spend so much money on that. They cut and paste it and steal from us," Greenblatt said.

    "It's hard to measure exactly how many jobs we lost here," he said. "It's hard to measure because people don't call or send you an email and say, 'By the way, I bought from your competitor.'"

    Greenblatt lobbied the administration to take action and is glad they are doing something, he said. "It's such a mess how they just steal from us on so many different fronts. I think the end goal has to be for these two countries, America and China, to sit down, and I think this was [President Donald] Trump's way to do an opening salvo."

    Steven Lang, CEO of New Jersey-based Mon Cheri Bridal, also worries Chinese counterfeiting could cost him his business.

    "Without protection from my government, I'm not on a level playing field," Lang said.
    https://www.cnbc.com/2018/04/24/the-...de-battle.html

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    Quote Originally Posted by anatta View Post
    bilateral trade agreements are not a bad thing by anyone involved . we are still in NATA-negotiations are tough as expected
    They apparently just got a lot tougher with Mexico moving on without the US and Canada part of CPTPP

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    Quote Originally Posted by anatta View Post
    What's behind the trade battle with China

    Trade tensions between the United States and China exploded last month as the countries started threatening each other with new tariffs.

    The Trump administration is looking to stop what it calls unfair trade practices, targeting perceived imbalances, including alleged widespread intellectual property theft. The Commission on the Theft of American Intellectual Property estimates that China's purported IP theft costs the U.S. between $225 billion and $600 billion each year.

    Case studies aren't hard to find.

    Take California-based Paulson Manufacturing, which makes protective eyewear and shields for industrial workers and firefighters.

    "Within a year of anything new that I put out, I'm being copied somewhere in the world," CEO Roy Paulson said. It was at a trade show in China that he first learned his company was being copied, he said.

    "They even used our company name, duplicated all the products that we have that you can see on our website and have them for sale as a Paulson product in China," Paulson said. It's a theft that's costly. "It's not just lost money to me, that's really lost money to my employees and to the community."

    Marlin Steel, based near Baltimore, engineers and manufactures steel molds from wire to make storage racks, baskets and deep fryers from recycled steel. The seemingly simple products require complex engineering, said CEO Drew Greenblatt, and several years ago he began seeing his products in Google searches for Chinese competitors.

    "We come up with innovative, creative novel ideas. We spend so much money on that. They cut and paste it and steal from us," Greenblatt said.

    "It's hard to measure exactly how many jobs we lost here," he said. "It's hard to measure because people don't call or send you an email and say, 'By the way, I bought from your competitor.'"

    Greenblatt lobbied the administration to take action and is glad they are doing something, he said. "It's such a mess how they just steal from us on so many different fronts. I think the end goal has to be for these two countries, America and China, to sit down, and I think this was [President Donald] Trump's way to do an opening salvo."

    Steven Lang, CEO of New Jersey-based Mon Cheri Bridal, also worries Chinese counterfeiting could cost him his business.

    "Without protection from my government, I'm not on a level playing field," Lang said.
    https://www.cnbc.com/2018/04/24/the-...de-battle.html
    Not to be cynical, but "case studies" can be found supporting the other side of the coin

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    Quote Originally Posted by archives View Post
    Not to be cynical, but "case studies" can be found supporting the other side of the coin
    perhaps you can make a case for balance of payments, but there is absolute metaphysical certainty
    China is the worst/biggest hacker and biggest thief of intellectual properties

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    Quote Originally Posted by archives View Post
    They apparently just got a lot tougher with Mexico moving on without the US and Canada part of CPTPP
    they cost jobs, they cost intellectual property loss, and a bunch of international corporate lawyers are in charge of sanctions..no thanks.

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