If you’re like most Americans, you are more familiar with Davos Seaworth from Game of Thrones than with the little ski town of Davos, Switzerland. But this week in Switzerland, China’s president and a representative from Mr. Trump’s Administration both said they’d like to avoid a trade war.
About Andrea Durkin
Andrea Durkin is the Editor-in-Chief of TradeVistas and Founder of Sparkplug, LLC. Ms. Durkin previously served as a U.S. Government trade negotiator and has proudly taught international trade policy and negotiations for the last fifteen years as an Adjunct Professor at Georgetown University’s Master of Science in Foreign Service program.
Entries by Andrea Durkin
China argues it should be granted “market economy status” by all WTO Members. Some of the world’s major economies, including the United States, think it depends on the specific situation. American producers of industrial commodities such as steel say China is not operating on market principles in their sector.
According to a new study, reducing tariffs on LED light bulbs by 3.6 percent would save American households $320 million each year. How? Lowering the tariff on imported LED bulbs makes it cheaper to buy them. Lower prices also raises demand, leading to greater usage. Using more energy efficient light bulbs could cut electric bills by $129.6 million and lower the number of kilowatt hours in the United States by 238 million every year.
Kicking-off the 2016 holiday season, Americans broke spending records on Black Friday and Cyber Monday. But the big story was how people shopped – online – and increasingly using their phones not just their computers.
Mr. Trump ran on a platform that rejects the notion that trade agreements have worked to America’s favor. He promised some major reversals of trade policies. Will he dump trade?
President-elect Trump is already marching through his first 100-day agenda. Near the top of that list is withdrawing from NAFTA—or re-negotiating it. He should work with Mexico and Canada to create a North American Infrastructure Bank instead of re-opening an outdated NAFTA agenda.
Globally, e-commerce sales are projected to surpass $3.5 trillion within the next five years. China and the U.S. account for over 55 percent of global e-commerce, but digital consumption is growing around the world even in markets that still heavily operate on a cash-on-demand basis, like India. The major American e-commerce platforms Amazon and eBay are growing their share in overseas markets but they face stiff competition from companies vying for new online shoppers around the world.
The WTO Information Technology Agreement (ITA), which removes tariffs on information and communication technologies (ICTs), got an overdue upgrade last year when 24 participants representing 53 WTO members agreed to nearly double the products included in the agreement.
Last year, real estate research group Zillow determined that homes located within a quarter-mile of a Starbucks coffee shop increased in value by 96 percent. Starbucks is a premium brand. So is North America. We’re lucky in the United States because Canada and Mexico are the kind of neighbors that increase our value.
On the average day, approximately $2.4 billion worth—2 million tons—of goods move between the United States, Canada, and Mexico. Co-production of world-class products made has given North America an advantage over other regions in the world.