International trade | GlobalPost

Japan, India to discuss military plane sales

Agence France-PresseMay 27, 2013 03:30

Japan is close to signing an agreement to supply amphibious planes to India, a report said Monday, in what would be the first sale of hardware used by the military since a weapons export ban was imposed. During a four-day visit to Tokyo by Indian Prime Minister Manmohan Singh, starting later Monday, the two sides are set firm up plans for Delhi to purchase the US-2, a domestically-developed aircraft used by Japan's armed forces.

Finance minister to point out 'limits' of quantitative easing polices at OECD meeting

Yonhap News AgencyMay 27, 2013 02:46

SEJONG, May 27 (Yonhap) -- South Korea's Finance Minister Hyun Oh-seok is expected to bring attention to the "limits" of quantitative easing steps taken by advanced countries during a meeting of the Organization for Economic Cooperation and Development (OECD) this week, his office said Monday. Hyun, who also serves as deputy prime minister in charge of economy affairs, will leave for Paris to attend the OECD Ministerial Council Meeting scheduled for Wednesday and Thursday local time, according to the finance ministry.

Next TPP trade round set for July 15-25, Japan to join near end

Kyodo News InternationalMay 25, 2013 00:15

The eleven countries involved in the Trans-Pacific Partnership free trade negotiations agreed to hold the next round of talks in Kuala Lumpur from July 15 to 25 as they concluded their 17th round of talks in Lima on Friday. After reaching agreements in some key fields, the United States and 10 other TPP members said at the end of the 10-day meeting they have decided to extend the next round by one day to July 25 to include Japan as the 12th member of the talks.

WTO panel to examine Japan-China steel duties dispute

Agence France-PresseMay 24, 2013 12:17

The World Trade Organization said Friday its dispute settlement board had agreed to a request from Japan to create a panel to examine its dispute with China over steel duties. Japan had requested for a panel to evaluate its complaint against China for imposing duties on steel tube imports, which Beijing claims were being sold at prices below market levels. Japan charged that the duties violated international agreements, in the latest volley in a slew of trade rows between China and its key trade partners that have seen tit-for-tat duties put on a range of goods.

Li visit raises landmark Swiss-China trade deal

Agence France-PresseMay 24, 2013 07:17

China's Premier Li Keqiang was poised on Friday to sign a key accord with Switzerland bringing closer a free-trade deal seen as a touchstone for Beijing's growing global ties. After high-level talks, Li and the Swiss government were scheduled to ink a memorandum of understanding on the free-trade accord, paving the way for the expected official signature in coming months. Li arrived in Switzerland late on Thursday, on the first stop of his debut visit to Europe since taking over in March in Beijing's once-in-a-decade power transfer.

Next round of TPP trade talks to be extended 1 day for Japan: source

Kyodo News InternationalMay 24, 2013 00:00

The next round of Trans-Pacific Partnership free trade negotiations will be extended by a day as countries involved will welcome Japan as the 12th member of the talks in late July, a negotiation source said Thursday. As the current round in Peru nears its end on Friday, the 11 countries involved in the talks for creating one of the world's largest free trade areas have agreed to hold the round in the Malaysian capital of Kuala Lumpur July 15-25, adding one day to the initially planned 10-day schedule through July 24, the source told Kyodo News.

Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations

The Canadian PressMay 23, 2013 16:33

WASHINGTON - A Canada-U.S. trade war is apparently looming as Ottawa threatens "retaliatory measures" against the United States in a continuing dispute over meat labelling. The U.S. government announced new regulations Thursday on "country-of-origin labelling" (COOL) that would track beef and hogs from livestock right through the meat processing and distribution systems. Tom Vilsack, U.S. agriculture secretary, said the new rules are aimed at resolving the tense trade dispute between Canada, the U.S. and Mexico.

TV importers accuse border officials of misleading advance tariff rulings

The Canadian PressMay 23, 2013 13:18

OTTAWA - Importers of popular electronics such as big-screen TVs and MP3 players are ramping up their fight against federal tariff changes, accusing the government of misleading them by offering tariff breaks that it planned to claw back later. Importers of televisions are already on the hook for about $16 million in retroactive duties from 2011 after last year's crackdown on a particular tariff exemption that has become a political football.

S Korea-US-Pacific trade talks

Yonhap News AgencyMay 23, 2013 03:45

SEOUL, May 23 (Yonhap) -- South Korea has been paying "close attention" to U.S.-led talks on forming an Asia-Pacific mega trade bloc, but it will not rush to join in on the discussion, Seoul's new ambassador to Washington said Thursday. Ambassador Ahn Ho-young, a seasoned trade diplomat set to take up the post early next month, also sounded a positive note on the U.S.-driven Trans-Pacific Partnership (TPP), saying it could help simplify the tangle of bilateral free trade agreements (FTA), which he called "the spaghetti bowl."

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.