If you’re involved in international business, the country to watch right now is Russia. Moves by the country which seems intent on isolating itself could impact your business. Russia recently announced its plans to ban or limit agricultural imports from countries that had imposed sanctions on it. Dmitri A. Medvedev, Russia’s prime minister, announced that “all beef, pork, fruit, vegetables and dairy products from the European Union, the United States, Canada, Australia and Norway” would be banned for one year.
Why do anti-dumping measures benefit U.S. steel manufacturers? On August 22nd, U.S. Steel producers were handed a big win in an international trade case against six nations for dumping gas and oil pipe onto the United States market. This decision comes after a complaint was filed last year by U.S. steel companies against foreign manufacturers who were, according to the U.S., “negatively impacting the U.S. steel production companies with their unfair trading standards.”
Recently, the Government Accountability Office (GAO) returned from the Labor Day Holiday to determine whether the Department of the Army properly picked its role play partner. The Army’s Request for Proposals (RFP) sought offers to provide civilians the chance to perform battlefield role-player services for military exercises. The Army’s RFP stated that it would award the contract to the lowest-priced, technically acceptable offeror. As is typical in the world of government procurement, nothing is quite that simple.
Apple, Inc. made headlines this year when it managed to avoid over $70 million in taxes that the U.S. said the company owed to the federal government. Estimates vary as to the amount of money Apple keeps offshore, but the numbers are consistently in the billions of dollars range. In fact, forty and fifty billion dollars are numbers seen in some recent news stories on international tax.
The Apple issue is not an uncommon issue with large corporations. You could replace the name Apple with almost any other famous company (Starbucks, GE, Facebook, etc.), and you’d see similar news
What is a decrease in the trade deficit and what does it mean for U.S. Jobs Numbers?
Businesses involved in international trade were pretty happy recently when the Commerce Department announced that the total July exports of $198.0 billion and imports of $238.6 billion resulted in a goods and services deficit of $40.5 billion, down from the $40.8 billion in June.
More specifically, July imports were $1.6 billion more than June imports of $237.0 billion. This is the lowest deficit since January. Overall, the Commerce Department has reported that the growth in exports has steadily outpaced the
What do Maine, International Trade, and Lobster have in common?
When one thinks of Maine, a few things come to mind: fresh lobster, cold winters, its beautiful coastline bordering the Atlantic Ocean. Next on the list: international trade? While it’s not currently the first thing to pop into the mind when thinking about Maine, that could soon change. Maine has a strong international trade center, aptly named the Maine International Trade Center (MITC), which was recently approved by the federal government to receive a grant of over $800K to promote exports from and attract foreign
International Business Customs in Business Practices
If you’re engaged in international business, chances are at some point, you’ll need to travel to the country in which you have or conduct business. Whether it’s China, Russia, Vietnam, France, or some other country, knowing the international business customs is imperative. In fact, since English is the business language for most countries, it is often more important than knowing the local language. There are some unique international business customs around the world and today’s blog seeks to highlight just a few of them.
Due to its proximity to the United States, expanding operations into Canada is a natural progression for many companies, particularly those based out of northern states. Despite its physical proximity, businesses expanding into Canada still face the challenges of conducting an international business. One such challenge is knowing and ensuring compliance with foreign laws; consulting with an attorney is always recommended if you want to move past our northern border.
US-China Relations: Where the Rubber Meets for the Road
US-China relations is a fascinating case study in international law. The two superpowers seem to butt heads on everything. From trade rules to human rights, it seems more newsworthy when the two countries agree than when they disagree.
Recent news foreshadowed what may be the next source of tension between the countries: tires. The US International Trade Commission (US ITC) voted to begin an investigation into possible “dumping” of tires imported from China.
US ITC vs. WTO
Based on the results of its investigation, a determination will
Will WTO ruling intensify or lessen Chinese-U.S. tensions?
The World Trade Organization (WTO) Appellate Body issued a decision this week in an appeal by China to overturn a U.S. law, Public Law 112 – 99, as inconsistent with international trade rules. Who won? It depends on who you ask, although both sides have issued statements claiming victory. The U.S. rule stands, but the body ruled in favor of China on another related issue.
Law Aimed at Countering Trade Subsidies
The U.S. law at issue was signed into law by President Obama in 2012 with the goal of countering unfair trade subsidies