International trade | GlobalPost

S Korea-Japan-trade balance

Yonhap News AgencyMay 23, 2013 01:01

SEOUL, May 23 (Yonhap) -- South Korea's trade deficit with Japan soared in April from a year earlier, data showed Thursday, as the weak Japanese currency dented local exports. Asia's fourth-largest economy saw its trade deficit with Japan reach 248.2 billion yen (US$2.39 billion) in April, up 45.7 percent from a year earlier, according to the data compiled by Japan's finance ministry. It marked the fourth shortfall South Korea has registered with Japan this year since January, when the deficit came to 88.8 billion yen.

choline chloride-anti-dumping duties

Yonhap News AgencyMay 22, 2013 19:30

SEOUL, May 23 (Yonhap) -- The country's trade commission said Thursday that it has recommended yet another extension of punitive duties on choline chloride imports from four countries, including the United States and China. The country has been imposing anti-dumping duties of between 22.19 percent and 27.32 percent since October 2004 on shipments of choline chloride from the U.S., Canada, China and India. Choline chloride is an organic compound often used as an additive in feed for animals.

GDP growth may drop 1 point by joining TPP: researchers

Kyodo News InternationalMay 22, 2013 03:15

Japan's gross domestic product growth could be pushed down by 1.0 percentage point, or 4.8 trillion yen, if it joins the envisaged Trans-Pacific Partnership free trade agreement, a group of Japanese researchers said Wednesday. The estimate, covering the impact of tariff elimination on farming and increases in exports to other countries, contrasts with the government estimate released in March that the pact could boost growth by 0.66 point, or 3.2 trillion yen.

U.S. not respecting WTO ruling on meat labeling: Mexico

Thomson ReutersMay 21, 2013 21:02

By Adriana Barrera MEXICO CITY (Reuters) - The United States is not respecting a World Trade Organization (WTO) ruling on meat labeling, Mexico's Agriculture Minister Enrique Martinez said on Tuesday, saying it was hurting local industry. The WTO ruled in late June last year that a U.S. program for labeling imported meat unfairly discriminated against Mexico and Canada, putting pressure on the United States to bring the scheme in line with global country-of-origin meat-labeling rules.

Spain posts first trade surplus since 1971

Agence France-PresseMay 17, 2013 16:01

Spain announced Friday its first monthly trade surplus since 1971 as imports slumped because of a collapse in demand in the midst of a recession and record unemployment. The eurozone's fourth biggest economy posted a surplus of 634.9 million euros ($817 million) in March, compared to a deficit of 3.245 billion euros a year earlier, the Economy Ministry said. Imports in March plunged by 15 percent from a year earlier to 19.653 billion euros while exports grew two percent to 20.288 billion euros.

Alberta announces major expansion of trade offices in U.S., India, Brazil

The Canadian PressMay 17, 2013 14:03

CALGARY - The Alberta government is expanding or opening trade offices on three continents to open up markets and reduce dependence on markets in the United States. "We can no longer rely primarily on one customer for our resources, goods and services (exports)," Cal Dallas, the international and intergovernmental relations minister, announced at the University of Calgary on Friday. "Eighty-six per cent of those resources went to one customer, the U.S."

Spain registers 1st monthly trade surplus since 1971

Agencia EFEMay 17, 2013 10:48

Madrid, May 17 (EFE).- Spain posted a monthly trade surplus of 634.9 million euros (roughly $820 million) in March, its first since records began to be kept in 1971, the Economy Ministry said Friday. That monthly surplus caused the country's accumulated trade deficit for the year to fall by 62 percent to 4.05 billion euros. Spain's first-quarter exports were valued at 56.59 billion euros, up 3.9 percent relative to the same three-month period of 2012, while imports fell 6.9 percent to 60.63 billion.

Japan likely to miss most of July TPP trade talks

Kyodo News InternationalMay 17, 2013 07:46

Japan is likely to miss most of the next round of Trans-Pacific Partnership free trade negotiations in July as it is being arranged to start before the country becomes the 12th member of the talks, a senior Malaysian government official said Friday. The 18th round is set to be held July 15 to 24 in Kuala Lumpur, while Japan waits for the United States to complete its 90-day notice to Congress around July 24 to officially admit it as a new member of multilateral talks for creating one of the largest free trade zones in the world.

Strong Italian trade data driven by exports

Agence France-PresseMay 16, 2013 05:45

Italy reported a strong trade surplus for March on Thursday with the country's export machine picking up pace, driven by trade with non-EU countries. The statistics institute Istat said that Italy achieved a trade surplus of 3.2 billion euros ($4.1 billion) in March, with exports up 1.2 percent on a month, while imports were up 0.2 percent. Exports were up 2.0 percent for non-EU countries and 0.4 percent for countries within the EU.

EU says China may be dumping mobile network equipment but suspends case, seeking settlement

The Canadian PressMay 15, 2013 13:45

BRUSSELS - A senior EU official says China may be illegally dumping and subsidizing the import into Europe of mobile telephone networks and their essential elements. But Competition Commissioner Karel De Gucht says an official investigation, while approved by the European Commission, won't be launched now as officials seek an amicable resolution. Wednesday's announcement came as the Commission, the EU's executive arm, is nearing the end of an investigation into whether China illegally dumped solar panels into the EU.