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labor to open free trade agreements to scrutiny


all future free trade agreements would have be vetted by the productivity commission and re-examined every 10 years under a new labor policy that has won endorsement from business organisations.unveiling the policy at a function hosted by the australian chamber of commerce and industry, labor trade spokesman jason clare said the public was sceptical about the china, korea and japan trade agreements in part because they hadn't been subject to an independent arms-length assessment outlining what they would mean for jobs and incomes. labor mp jason clare and opposition leader bill shorten photo: alex ellinghausen"at the moment, once a free trade agreement is signed a report is prepared by the department of foreign affairs and trade outlining why it is in australia's national interest....






trade pact: gold may be kept out of future trade pacts


a big spike in gold imports from countries with which india has trade agreements has caused alarm in the government, which now plans to exclude the yellow metal from such agreements in the future. “provisions of trade agreements have been abused to import gold at zero or lower duty,” a government official said. the surge in gold imports has worsened the country’s current account deficit. the issue has been discussed between the ministries of finance and commerce and industry, the nodal ministry for negotiating trade agreements, the official said. the finance ministry is of the view that gold should be kept out of free-trade agreements (fta) india negotiates going ahead. the country is at present negotiating an fta with the european union, and the regional comprehensive economic partn...






buy local v buy queensland: what is the difference?


how the queensland government splashes its cash after the next election will be decided by two similarly-named competing policies.in july, labor announced its buy queensland policy, with a test to be applied to all significant contracts, with businesses with a workforce within a 125-kilometre radius receiving a weighting of up to 30 per cent. acting premier curtis pitt accused the lnp of copying labor. the palaszczuk government policy, which came into effect on september 1, became mired in controversy after the conservative new zealand government claimed it could breach trade agreements, but labor mps said the state would abide by its trade agreements.at the weekend, the liberal national party announced its own procurement policy with a similar moniker - buy local. opposition lead...






free trade agreements: view: india is losing faith in free-trade agreements


by mihir sharmatill fairly recently, it looked like two massive new agreements would compete to define the future of world trade. the trans-pacific partnership, backed by the u.s., would try to move the global trade architecture toward new norms, with harmonized regulations at its center. meanwhile, the regional comprehensive economic partnership, backed by china, would drastically reduce remaining tariffs across a swathe of asia and push the existing model of trade and manufacturing as far as it could go. the tpp is now history, thanks to donald trump. but the rcep can't exactly declare victory yet. the 16 countries involved -- china, japan, korea, australia, new zealand and much of southeast asia -- have discovered a familiar hurdle in their path: india. india's aspirationsindia has a ..






new zealand optimistic of free trade deal with us


by: reuters | sydney | published:june 18, 2017 7:26 am us president donald trump (file photo)related newsthe united states has indicated it is open to a free trade agreement (fta) with new zealand, new zealand’s trade minister said on sunday. todd mcclay visited washington for high-level trade talks with the administration of u.s. president donald trump this week, meeting with commerce secretary wilbur ross, newly appointed u.s. trade representative robert lighthizer and other advisors to the president.“i’ve welcomed their interest in an fta as a demonstration of the good shape our trading relationship is in,” mcclay said in a statement. mcclay said his center right government wants free-trade agreements to cover 90 percent of goods exported by 2030, up from just over half cur...






on his 100th day in office, trump ofders review of free trade agreements


the executive order signing in pennsylvania highlights an emphasis on trade in first 100 days.         






free trade agreements: sezs keen on fta rates, commerce ministry working on prop


new delhi: the commerce ministry is working on a proposal to allow special economic zone (sez) units to sell products outside these tax-free enclaves at concessional duty rates. an sez area is considered to be a foreign territory for trade operations and duties and are mainly set up for the export purpose. however, goods can be supplied from an sez unit to a dta (domestic tariff area or outside sez) buyer on payment of appropriate customs duty as products coming from these zones are treated as imports into the country. the sez players have demanded that they be allowed to sell their goods in dta on same terms as applicable under free trade agreements (ftas) signed by india with different countries. in essence, they want that the benefit of low or nil duty under an fta should be extended to






on his 100th day in office, trump to order review of free trade agreements


the executive order signing in pennsylvania highlights an emphasis on trade in first 100 days.         






join nafta and tpp after brexit britain urged


london: the uk is being urged to join the multilateral trade agreements being abandoned by us president donald trump and australia's high commissioner in london, alexander downer says australia would have no objection to britain joining the trans-pacific partnership trade deal.leading figures on global trade addressing the 2017 prosperity conference in westminster, said the uk should focus on joining existing trade agreements when britain leaves the eu, expected by march 31, 2019.  signatories to the tpp include australia, brunei, canada, chile, japan, malaysia, mexico, new zealand, peru, singapore and vietnam. since this 2015 photo the us has backed out. photo: suppliedthe conference coincided with reports from washington that the us may withdraw from north american free trade ...






trump to order review of trade agreements, including wto


by: pti | washington | published:april 29, 2017 3:16 pm president donald trump (ap photo/carolyn kaster, file)president donald trump was set to sign an executive order issuing directions to review all international trade agreements inked by the us, including the wto, in a bid to address trade “violations and abuses”. the order will not just outline the problem, but will also provide alternative solutions to them.“as far as i can tell there has never been a systematic evaluation of what has been the impact of the world trade organisation (wto) agreements on the country as an integrated whole. so it’s trying to find violations and abuses,” us commerce secretary wilbur ross told reporters at a white house news conference.“it calls for a report within 180 days. it calls for no...






timeline for australia-eu free trade deal extends as europe eyes new realities


london: plans for a free trade agreement between australia and the european union have hit another big delay, which trade minister steven ciobo has blamed on the eu.the minister said on thursday that negotiations are not expected to start until the "middle to end of this year" – pending a scoping study which was expected to be finished last year, but which european countries still cannot agree on.fair work grilled over domino's investigationvideo duration01:59previous slidenext slidevideo duration02:04australia in free trade talks with eu, ukaustralia in free trade talks with eu, ukaustralia's trade minister steve ciobo is scoping out future free trade agreements post-brexit. fair work grilled over domino's investigationvideo duration01:59video duration01:59fair work grille...






trump’s newest trade move reveals scaled-back approach


president donald trump (alex brandon/associated press)president trump plans to sign an executive order saturday that would launch a six-month review of all existing u.s. trade agreements and propose ways to amend any of these agreements, reflecting the white house’s more cautious approach to trade issues after threatening more sweeping moves earlier this week.trump had planned to sign a much more confrontational executive order saturday that would have started the process of withdrawing the united states from the north american free trade agreement. but top advisers, the leaders of canada and mexico, and scores of business executives pushed back on this idea. trump agreed to halt the effort.instead, trump has decided to renegotiate nafta. his changed approach to nafta comes after he h...






trump’s newest trade move reveals scaled-back approach


president donald trump (alex brandon/associated press)president trump plans to sign an executive order on saturday that would launch a six-month review of all existing u.s. trade agreements and propose ways to amend any of these agreements, reflecting the white house’s more cautious approach to trade issues after threatening more sweeping moves earlier this week.trump had planned to sign a much more confrontational executive order on saturday, which would have started the process of withdrawing the united states from the north american free trade agreement. but top advisers, the leaders of canada and mexico, and scores of business executives pushed back on this idea. trump agreed to halt the effort.instead, trump has decided to renegotiate nafta. his changed approach with nafta comes a...






trump’s blindness on trade is all too easy to see


president trump’s international economic team is still a work in progress, though based on two early top nominations — robert lighthizer as u.s. trade representative and peter navarro to head a new national trade council — he fully intends to keep the protectionist promises of the campaign trail. certainly a newly released administration document, “the president’s 2017 trade policy agenda,” reflects the influence of mr. lighthizer and mr. navarro. the six-page statement rehearses once again their critique of u.s. trade policy since the cold war’s end: multilateral trade agreements and institutions such as the north american free trade agreement and world trade organization have sacrificed american sovereignty, to the ultimate cost of u.s. jobs, especially manufacturing jobs...






india improving its business environment: envoy


by: pti | singapore | published:april 22, 2017 5:38 pmindia will continue to do more to make it easier to do business in the country while remaining one of the most open economies to trade and investment, indian envoy to singapore jawed ashraf has said. responding to a question on whether protectionism was on the rise in india and india was retreating from free trade agreements (ftas) at the asean-india business forum, he reiterated, “we are open and will continue to be more and more easy to do business.”“openness should not be conflated with ftas. india’s openness and embrace of the global economy is evident,” he said at the forum attended by some 500 delegates from the regional business community here yesterday.“in terms of investment flows, we are perhaps some of the ...






president donald trump’s trade officials prefer trilateral nafta deal, say us se


by: reuters | washington | published:may 17, 2017 8:10 am robert lighthizer speaks after he was sworn as us trade representative during a ceremony at the white house in washington. (source: reuters)the trump administration’s top trade officials hope to keep the north american free trade agreement as a trilateral deal in negotiations with canada and mexico to revamp the 23-year-old pact, senators said on tuesday.several members of the senate finance committee said commerce secretary wilbur ross and new us trade representative robert lighthizer told them in a closed door meeting that they would prefer the current three-nation format but left open the possibility of parallel bilateral agreements with canada and mexico.“their preference is trilateral,” democratic senator debbie stab...






india, ethiopia sign agreements on trade, communication: ram nath kovind


by: pti | addis ababa | published:october 5, 2017 11:11 pm ram nath kovind said india has created jobs and contributed to the prosperity of ethiopia.related newsindia and ethiopia thursday signed agreements on trade, communication and media to boost bilateral ties as president ram nath kovind held talks with his ethiopian counterpart mulatu teshome here. kovind and teshome discussed economic relations, with the agreements on trade, communication and media signed in their presence, according to the president’s twitter page.india also thanked ethiopia for its participation in the international solar alliance (isa), established in 2015.the aim of the isa is to provide a dedicated platform for cooperation among solar resource rich countries and promote the use of solar energy.the presid...






the delusion that openness has impoverished america


lawrence summers is a professor at and past president of harvard university. he was treasury secretary from 1999 to 2001 and an economic adviser to president obama from 2009 through 2010.trade agreements have been central to u.s. politics for some years. the idea that renegotiating trade agreements will “make america great again” by substantially increasing job creation and economic growth swept donald trump into office.more broadly, the idea that past trade agreements have damaged the american middle cl and that the prospective trans-pacific partnership would do further damage is now widely accepted in both major u.s. political parties.as daniel patrick moynihan once observed, participants in political debate are entitled to their own opinions but not their own facts. the reality is that






at governors gathering, trudeau takes case to preserve nafta directly to states


providence, r.i. — canadian prime minister justin trudeau made an impassioned defense of free trade here friday, appealing to the nation’s governors to help spread a positive message ahead of the renegotiation of the north american free trade agreement demanded by president trump.trudeau’s keynote speech marked the first time a foreign leader of trudeau’s rank has addressed the national governors association. his appearance underscored the efforts by both canada and mexico to court state executives as potential allies at a time when the president’s trade rhetoric has raised doubts about the u.s. commitment to multinational free trade agreements.trudeau stressed that nafta has provided enormous benefits to all three countries and underscored his belief that the vitality of the rel...






at governors gathering, trudeau takes case to preserve nafta directly to states


providence, r.i. — canadian prime minister justin trudeau made an impassioned defense of free trade here friday, appealing to the nation’s governors to help spread a positive message ahead of the renegotiation of the north american free trade agreement demanded by president trump.trudeau’s keynote speech marked the first time a head of state has addressed the national governors association. his appearance underscored the efforts by both canada and mexico to court state executives as potential allies at a time when the president’s trade rhetoric has raised doubts about the u.s. commitment to multinational free trade agreements.trudeau stressed that nafta has provided enormous benefits to all three countries and underscored his belief that the vitality of the relationship between the...






at governors gathering, trudeau takes case to preserve nafta directly to states


providence, r.i. — canadian prime minister justin trudeau made an impassioned defense of free trade here friday, appealing to the nation’s governors to help spread a positive message ahead of the renegotiation of the north american free trade agreement demanded by president trump.trudeau’s keynote speech marked the first time a foreign head of state has addressed the national governors association. his appearance underscored the efforts by both canada and mexico to court state executives as potential allies at a time when the president’s trade rhetoric has raised doubts about the u.s. commitment to multinational free trade agreements.trudeau stressed that nafta has provided enormous benefits to all three countries and underscored his belief that the vitality of the relationship bet...






democrats target trump on trade


wilkes-barre, pa. — democrats facing reelection next year in states president trump won are seizing on trade at this early stage as a crucial issue and a republican vulnerability.but rather than jeer trump’s protectionist positions, democrats are echoing them and amplifying them, arguing that trump has failed to fulfill his dramatic campaign promise to rip apart trade deals.“when we say renegotiating nafta, we mean a transformation, something substantial, not just going through the motions,” sen. robert p. casey jr. (d-pa.) told union leaders recently, referring to the administration’s talks over the north american free trade agreement.for democrats, casey’s pitch signals a wholehearted revival of their labor roots and a sharp departure from the free-trade tilt of the past two ...






democrats target trump on trade


wilkes-barre, pa. — democrats facing reelection next year in states president trump won are seizing on trade at this early stage as a crucial issue and a republican vulnerability.but rather than jeer trump’s protectionist positions, democrats are echoing them and amplifying them, arguing that trump has failed to fulfill his dramatic campaign promise to rip apart trade deals.“when we say renegotiating nafta, we mean a transformation, something substantial, not just going through the motions,” sen. robert p. casey jr. (d-pa.) told union leaders recently, referring to the administration’s talks over the north american free trade agreement.for democrats, casey’s pitch signals a wholehearted revival of their labor roots and a sharp departure from the free-trade tilt of the past two ...






democrats target trump on trade


wilkes-barre, pa. — democrats facing reelection next year in states president trump won are seizing on trade at this early stage as a crucial issue and a republican vulnerability.but rather than jeer trump’s protectionist positions, democrats are echoing them and amplifying them, arguing that trump has failed to fulfill his dramatic campaign promise to rip apart trade deals.“when we say renegotiating nafta, we mean a transformation, something substantial, not just going through the motions,” sen. robert p. casey jr. (d-pa.) told union leaders recently, referring to the administration’s talks over the north american free trade agreement.for democrats, casey’s pitch signals a wholehearted revival of their labor roots and a sharp departure from the free-trade tilt of the past two ...






uk looking to replicate eu’s external trade deals after brexit, says pm theresa


by: reuters | osaka | published:august 30, 2017 11:25 am british prime minister theresa maytop newsbritain is looking at ways to replicate the trade deals that the european union has with countries outside the bloc when it exits the eu in march 2019, prime minister theresa may said on wednesday. the freedom to strike new trade deals independently of the eu has been highlighted by the government as a major benefit of brexit, but businesses have repeatedly voiced concerns about how existing trade relationships will work after leaving the bloc.speaking on a business trip to japan designed to reassure investors that the british economy will flourish after brexit, may indicated that the first step in recasting britain as a world leader in free trade would be to copy eu trade agreements.“...






the delusion that openness has impoverished america


lawrence summers is a professor at and past president of harvard university. he was treasury secretary from 1999 to 2001 and an economic adviser to president obama from 2009 through 2010.trade agreements have been central to u.s. politics for some years. the idea that renegotiating trade agreements will “make america great again” by substantially increasing job creation and economic growth swept donald trump into office.more broadly, the idea that past trade agreements have damaged the american middle cl and that the prospective trans-pacific partnership would do further damage is now widely accepted in both major u.s. political parties.as daniel patrick moynihan once observed, participants in political debate are entitled to their own opinions but not their own facts. the reality is that






no inherent objection to free trade agreement with india: us


by: pti | washington | published:april 26, 2017 1:34 pm while there is no such move in this regard right now, the previous us administrations have been open to the idea of a india-us fta. (file photo)the trump administration has no inherent objection to the india-us free trade agreement though there have been no serious discussions with new delhi over the issue, us commerce secretary wilbur ross has said.the us does not have a free trade agreement (fta) with india and as a result india-us trade relationship is currently governed under the world trade organisation (wto), ross told reporters at a white house news conference yesterday.however, he said there have been no serious discussion on this with india.“i don’t believe that there have been any serious discussions with india of l...






how much power does president trump actually have over trade deals?


president trump’s pledge to shake up existing trade agreements and negotiations has already had tangible impact in one sense: it has given pause to many u.s. companies that depend on exports and imports to do business.one of the president’s stated concerns is the north american free trade agreement, or nafta, the u.s. accord with two of its largest trading partners, mexico and canada. president trump has vowed to renegotiate—and possibly scrap—the 1993 pact, which was designed to eliminate trade barriers and promote fair competition among the three countries.the uncertainty is not just about what president trump might do with nafta. there’s also considerable debate about what the law allows him to do. adding to the confusion is how mexico might respond to any protectionist u.s. t...






labor, greens, xenophon team likely to link with cory bernardi to block china ex


a china-australia extradition treaty 10 years in the making looks set to be killed off in the senate next week with labor, the greens and the crossbench expected to team up to stop ratification.chinese premier li keqiang is currently in australia for discussions on trade, security and the extradition treaty, which was signed by john howard back in 2007 but has never been ratified.cheryl grimmers brother speaksvideo duration01:52previous slidenext slidevideo duration00:58chinese/australian free trade deal boostedchinese/australian free trade deal boostedprime minister malcolm turnbull and chinese premier li keqiang have signed a deal to further boost trade between the two countries, including an agreement to boost chilled beef exports.cheryl grimmers brother speaksvideo duration01:52vid...






one democratic attempt to block trump that’s actually working


employees remove stalks from avocados in the global fruit packing company in uruapan, in michoacan state, mexico, on jan. 31. (carlos jasso/reuters)since coming into office 90 days ago, president trump has been slow to make progress on one major campaign pledge: renegotiating the north american free trade agreement.the delay, trade experts say, is partly because the administration has not been able to get confirmed the man who would lead those negotiations. although congressional democrats have tried and failed to stall many of trump's nominees, they appear to be succeeding in delaying the confirmation of robert lighthizer, the administration’s nominee for u.s. trade representative.the trump administration came into office with bold plans for trade agreements, including reworking naft...






one democratic attempt to block trump that’s actually working


employees remove stalks from avocados in the global fruit packing company in uruapan, in michoacan state, mexico, on jan. 31. (carlos jasso/reuters)since coming into office 90 days ago, president trump has been slow to make progress on one major campaign pledge: renegotiating the north american free trade agreement.the delay, trade experts say, is partly because the administration has not been able to get confirmed the man who would lead those negotiations. although congressional democrats have tried and failed to stall many of trump's nominees, they appear to be succeeding in delaying the confirmation of robert lighthizer, the administration’s nominee for u.s. trade representative.the trump administration came into office with bold plans for trade agreements, including reworking naft...






new rifts emerge as trump administration rejects free trade statement at g-20 me


baden-baden, germany – the trump administration on saturday rejected a statement from other leading economies that warned against the perils of trade protectionism, the latest sign of how the administration’s more combative approach to diplomacy could create rifts with u.s. allies and leave traditional partners in the dark about the direction of u.s. policy.treasury secretary steven mnuchin, appearing at a gathering of economic ministers and central bankers from the 20 largest economists, rebuffed multiple entreaties from german officials to include in the meeting’s joint statement language stressing the importance of free trade and that it should be conducted in a “rules based” manner, following existing standards and agreements.by rejecting language that would have said the u.s...






world leaders signal free-trade plans — whether trump joins or not


in a pointed challenge to president trump’s “america first” agenda, leaders of the world’s biggest economies this week are touting an approach that breaks with the past 20 years of global trade — sidestep the united states entirely.in the days leading up to this week’s group of 20 summit in hamburg, leaders from germany, japan and elsewhere are discussing new free-trade agreements that exclude u.s. automakers and manufacturers. their leaders are vigorously pushing back against trump’s threat of new u.s. tariffs or regulations on imported steel. and many are making public comments that affirm their commitments to fashioning pacts with or without the united states.german chancellor angela merkel, who faces elections in september in a country where trump is deeply unpopular, has...






one democratic attempt to block trump that’s actually working


employees remove stalks from avocados in the global fruit packing company in uruapan, in michoacan state, mexico, january 31, 2017. reuters/carlos jassosince coming into office 90 days ago, president trump has been slow to make progress on one major campaign pledge: renegotiating the north american free trade agreement.the delay, trade experts say, is partly because the administration has not been able to get confirmed the man who would lead those negotiations. while congressional democrats have tried and failed to stall many of trump's nominees, they appear to be succeeding in delaying the confirmation of robert lighthizer, the administration’s nominee for united states trade representative.the trump administration came into office with bold plans for trade agreements, including rewo...






new rifts emerge as trump administration rejects free trade statement at g-20 me


baden-baden, germany — the trump administration on saturday rejected a statement from other leading economies that warned against the perils of trade protectionism, the latest sign of how the administration’s more combative approach to diplomacy could create rifts with u.s. allies and leave traditional partners in the dark about the direction of u.s. policy.treasury secretary steven mnuchin, appearing at a gathering of economic ministers and central bankers from the 20 largest economies, rebuffed multiple entreaties from german officials to include in the meeting’s joint statement language emphasizing the importance of free trade and that it should be conducted in a “rules based” manner, following existing standards and agreements.by rejecting language that would have said the un...






new rifts emerge as trump administration rejects free trade statement at g-20 me


baden-baden, germany — the trump administration on saturday rejected a statement from other leading economies that warned against the perils of trade protectionism, the latest sign of how the administration’s more combative approach to diplomacy could create rifts with u.s. allies and leave traditional partners in the dark about the direction of u.s. policy.treasury secretary steven mnuchin, appearing at a gathering of economic ministers and central bankers from the 20 largest economies, rebuffed multiple entreaties from german officials to include in the meeting’s joint statement language emphasizing the importance of free trade and that it should be conducted in a “rules based” manner, following existing standards and agreements.by rejecting language that would have said the un...






trump fills the swamp with another billionaire


closeskip in skipxembedxshare vice president mike pence broke a 50-50 tie in the u.s. senate to confirm betsy devos as the new u.s. secretary of education. devos, a proponent of school choice, was a controversial nominee. (dwight adams/indystar) wochitafter a 50-50 tie in the senate, vice president mike pence cast the deciding vote to confirm betsy devos as education secretary.her primary and perhaps only qualification is that she is married to the billionaire heir to the amway fortune and has contributed millions and millions and even more millions of dollars to the republican party.during her hearings sen. bernie sanders said, “there is a growing fear that ... we are moving toward what some would call an oligarchic society, where a small number of very wealthy billionaires control, to so