04/19/2018

News

U.S. Net Energy Imports in 2017 Fall to Their Lowest Levels Since 1982

Total net energy imports to the United States fell to 7.3 quadrillion British thermal units (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower. Gross energy imports have been generally decreasing from a high of 34.7 quads in 2007; however, […]

Read More

Trade Deficit Hits Near Decade High, Raising Specter of Twin Deficits

The U.S. trade position worsened in February, raising the stakes in the Trump administration’s intensifying effort to narrow the gap between what the U.S. imports and what it sells abroad. The trade deficit in goods and services rose to $57.6 billion in February, the Commerce Department said Thursday, the sixth straight monthly increase and the […]

Site has paywall
Read More

Is this the end for the neoliberal world order?

Some of Trump’s actions, notably the proposed tariffs, may be crude and even wrong-headed but other moves, notably focus on China’s buying of American technology assets, expose the fundamental weakness of the neoliberal trade regime. Trump’s policy agenda would never have risen if neoliberalism was able to improve the lives of the vast majority of […]

Read More

China’s Exports Surge Despite Trade Tensions

China’s exports surged unexpectedly in February, further widening its global trade surplus at a time when the Trump administration has put a special focus on the U.S. trade deficit with Beijing. Chinese exports jumped 44.5% in February from a year earlier, the General Administration of Customs said Thursday. Economists polled by The Wall Street Journal […]

Site has paywall
Read More

California export trade gets off to strong start in 2018

Coming off a strong 2017, California’s merchandise export trade maintained momentum rolling into 2018. Golden State businesses shipped merchandise valued at $13.7 billion in January, up from 3.2 percent $13.27 billion at the start of 2017, according to Beacon Economics’ analysis of U.S. trade statistics released by the U.S. Census Bureau.

Slow website
Read More

U.S. Trade Deficit Widened in January to Post-2008 High

The trade deficit widened further in early 2018, a deteriorating backdrop to President Donald Trump’s ramped-up efforts to close the gap with the help of tariffs. The U.S. trade gap in goods and services expanded 5.0% from the prior month to a seasonally adjusted $56.60 billion in January, the Commerce Department said Wednesday. It was […]

Site has paywall
Read More

There’s a Global Race to Control Batteries—and China Is Winning

There is a world-wide race to lock up the supply chain for cobalt, which will likely be in even greater demand as electric-car production rises. So far, China is way ahead. Chinese imports of cobalt from Congo, the world’s biggest producer of cobalt, totaled $1.2 billion in the first nine months of 2017, compared with […]

Site has paywall
Read More

California ports celebrate a merry Christmas

The logistics of Christmas morning are immensely complex and immensely important to California, which for decades has been the primary portal for the goods that Asia exports in huge quantities to America.

That’s especially true in Southern California, whose twin ports of Los Angeles and Long Beach have become vital economic powerhouses since the virtual collapse of the region’s aerospace industry in the 1990s.

Read More

California exports dip

California’s export trade dipped in October, according to a Beacon Economics’ analysis of U.S. trade statistics by the U.S. Census Bureau.

Foreign shipments by California businesses totaled $14.82 billion for the month, a nominal 2.6 percent decline from the $15.21 billion recorded in October 2016.

The state’s exports of manufactured goods fell 4.6 percent to $8.87 billion from $9.30 billion one year earlier. Exports of non-manufactured goods (chiefly agricultural products and raw materials) ebbed slightly by 0.4 percent to $2.31 billion from $2.32 billion. Re-exports, meanwhile, rose by 1.7 percent to $3.65 billion from $3.59 billion.

Read More

L.A., Long Beach ports adopt plan to slash air pollution and go zero-emissions

Port officials said the plan seeks to accelerate pollution reductions while remaining sensitive to the economic effects of transforming the complex, which handles about 40% of U.S. imports and support hundreds of thousands of jobs across Southern California. Though the volume of shipments moving through the L.A.-Long Beach ports has tripled since the mid-1990s, they face increasing competition from East and Gulf Coast ports, which have less stringent environmental mandates.

By adopting the plan, the ports are expecting businesses and taxpayers to foot the bill. They are also sending a signal to manufacturers that there will be demand for cleaner trucks and freight-moving equipment, and, eventually, models with no tailpipe emissions.

Read More

How important is international trade to each US state’s economy? Pretty important for a lot of our states

How important was international trade for each US state’s economy in 2016? The map and table above help to answer that question. The table above shows GDP for each US state (data here) in 2016, the total trade volume (exports + imports, data here for merchandise trade only, data on trade in services aren’t available by state) last year, and the volume of international trade activities as a share of each state’s GDP, ranked from highest to lowest. Ignoring the District of Columbia, the average trade share for US states in 2015 was 16.7%, and ranged from a low of 4.7% for South Dakota to a high of nearly 39.0% for Michigan. The trade shares by state are also displayed graphically in the map above — the greater the share of state trade activities (exports + imports) in relation to state GDP, the darker the shade of blue.

Read More

China’s Road to Electric-Car Domination Is Driven in Part by Batteries

Batteries have emerged as a critical front in China’s campaign to be the global leader in electric vehicles, but foreign auto makers and experts say it is rigging the market to favor domestic suppliers.

Tianjin Lishen Battery Co. here in eastern China recently agreed to sell its battery packs to Kia Motors for the EVs the South Korean company makes in China and is now in talks to supply General Motors , Mercedes-Benz and Volkswagen , a supervisor for the Chinese company said.

But that is largely because Tianjin Lishen has little foreign competition.

Foreign batteries aren’t banned in China, but auto makers must use ones from a government-approved list to qualify for generous EV subsidies. The Ministry of Industry and Information Technology’s list includes 57 manufacturers, all of them Chinese.

Read More

The Panama Canal’s Big Bet Is Paying Off

Ships nearly three times as large as the ones crossing before the expanded locks opened in June of 2016 are bringing tens of millions of additional dollars in tolls and a trading boom to U.S. East Coast ports, allaying some fears that investments to cater to the bigger vessels wouldn’t see enough returns.

Since the start of the year, transiting tonnage at the Panama Canal has increased by nearly 23%, canal executives say. Last week marked the 2,000th transit of a ship that wouldn’t have fit through the old locks.

. . . The widened waterway means importers as far inland as Tennessee could find it cheaper to bring in Asian goods to ports like New York, Savannah, Ga., and Charleston, S.C., rather than move them by rail and truck from West Coast ports, which handle about two-thirds of Asia-to-Americas trade.

Site has paywall
Read More

California exports edge upwards

California accounted for 11.4 percent of the nation’s overall merchandise export trade in August. Through the first seven months of 2017, the state’s exports are running 5.3 percent ahead of last year.

Read More

State merchandise exports slip a bit in July

In what has been an up-and-down year, California businesses exported merchandise valued at $13.3 billion in July, down a modest 1.5 percent from shipments valued at $13.51 billion in July 2016.

Slow website
Read More