The U.S. and Japan signed a deal to open Japanese market access to more than $7 billion worth of U.S. agricultural exports, the White House said Sept. 25. The deal -- announced after President Donald Trump and Japan's Prime Minister Shinzo Abe met at the United Nations General Assembly in New York -- is an initial agreement as the two sides continue negotiating a comprehensive trade deal “in the months ahead,” the White House said.
The recently released 2020 incoterms rules (see 1909100056) are easier to use and understand compared to previous versions, one of several significant changes to the International Chamber of Commerce’s latest revisions, said Frank Reynolds, the U.S. delegate for the ICC’s 2020 drafting group. The ICC said the new incoterms edition is “more accessible” and includes “more detailed explanatory notes with enhanced graphics” to clarify the responsibilities of exporters and importers. It also includes an “extensive introduction … that anybody can understand,” Reynolds said in an interview.
The International Chamber of Commerce is urging the World Trade Organization to permanently ban tariffs on “cross-border data flows” as a temporary ban moves closer to expiration, the ICC said in a Sept. 17 report.
U.S. Chamber of Commerce CEO Tom Donohue said he doesn't believe that the Trump administration will declare victory if Chinese buyers return to buying pork, soybeans and corn. "I don't think it will be an agreement of any type until it's a matter of substance," he said.
The U.S. Chamber of Commerce led a letter to U.S. Trade Representative Robert Lighthizer expressing fear that the mini deal nearing completion with Japan will stall momentum for a broader trade negotiation. "We respectfully urge the Administration to hold fast to its commitment to achieve a comprehensive, high-standard trade agreement with Japan and ensure this initial package does not impede momentum toward such a broader accord." The Chamber and 13 trade groups said a comprehensive trade deal should address services, including express delivery, customs administration and trade facilitation, regulatory cooperation, intellectual property and more.
The International Chamber of Commerce released its 2020 incoterms on Sept. 10, saying the newest version is easier to use and includes “explanatory notes with enhanced graphics to illustrate the responsibilities of importers and exporters." The new incoterms also include a more detailed explanation for traders on how to choose the right incoterms for their transactions or “how a sales contract interacts with ancillary contracts," the ICC said.
Maggie Henkin, who previously worked on Asia trade policy at the U.S. Chamber of Commerce, was hired by the Computing Technology Industry Association (CompTIA) as manager, public advocacy, CompTIA said in a news release. Henkin will "focus primarily on international trade and federal issues," the association said. CompTIA also hired Juhi Tariq, previously with Raytheon, Senior Manager, International Trade Regulation and Compliance.
U.S. export controls are confusing, burdensome and often place U.S. companies at a disadvantage compared with foreign competitors, the American Chamber of Commerce in Shanghai said in an Aug. 29 report.
The International Chamber of Commerce is expected to revise its incoterms to “clearly and accurately reflect current trade practices” when it releases its new set of the international commercial terms in September, according to an Aug. 29 post from Export Solutions.
The U.S. and Japan agreed to a trade deal that will see Japan buy more U.S. agricultural goods, including beef, pork, dairy and corn, the countries announced during the G-7 summit in France.