TradeLane

Trade Agreement Update: The European Union and Mercosur

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The EU and Mercosur (Brazil, Argentina, Paraguay, and Uruguay) agreed recently on a draft-free trade agreement that, if implemented, will create the largest free trade area in the world, connecting over 770 million people. The agreement has been agreed in principle and will now move to legal revision. This will lead to a final text of the agreement being sent to the member states of both blocs for approval.

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Topics: Europe, Free Trade Agreements

Some U.S. Trade Updates You Might Want to Know About

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While we wait for the US Administration to work out details on any potential trade deal with the EU, Turkey has moved to the forefront.

Section 232 steel duties on goods produced in Turkey will be doubled to 50% effective August 13th  with an increase for aluminum duties to 20% still pending. Automobile and automobile parts duty increases are still being contemplated. 

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Topics: Free Trade Agreements, United States

CETA: 10 Years in the Making

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It was June 2007 when we first started hearing talk of the possibility of a trade agreement between Canada and the European Union. With the European Union being one of Canada’s largest trade partners, second only to the United States, many importers have been eagerly awaiting this trade agreement to become a reality. 

At last, on September 21, 2017, the Canada-European Union Comprehensive Economic Trade Agreement (CETA) was provisionally implemented. 

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Topics: Europe, Free Trade Agreements, Canada

Don’t Throw the Baby Out With the Bathwater: Benefits of Free Trade

113016-freetrade-2.pngRecently there have been a lot of headlines about who will do what when it comes to trade. In the U.S. a big piece of the recent election turned to “protection” of industries, workers, etc. In fairness, I’m a free trade kinda guy. It directly pays my salary. I’m willing to bet there are a number of people who don’t realize their salary, in part at least, is also subject to free trade.

Free trade agreements don’t just work for goods that cross borders, they also play in a lot of other arenas. For instance, the service sector, which includes remediation of disputes, human rights, fair labor standards and practices.

Ever wonder why we haven’t had any “major” conflicts in the past 70 odd years? Trade in general and free trade specifically have a lot to do with it. Why would you want to go to war with your biggest customers?

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Topics: Free Trade Agreements

Compliance in South Korea, NOT North

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I used to live in the USA. I spent a year in Corvallis, Oregon when I was ten years old. I remember it as one of the happiest times in my life, except for being confused about my national identity. Most of my elementary school classmates thought that I was from North Korea. This is not surprising since the North Korea nuclear issue had been surfacing at that time during George H. W. Bush’s presidency. North Korea is still a frequent topic on the famous American TV show, Conan, to this day.

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Topics: Asia, Free Trade Agreements