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Trade News
Trade News
09
Jan
WASHINGTON, D.C. - The U.S. Department of Commerce’s International Trade Administration (ITA) is proud to announce its 2024 achievements, highlighting key efforts to enhance the competitiveness of U.S. businesses and workers, strengthen supply chains, and drive innovation in international trade.
“2024 was yet another impressive year for U.S. competitiveness across international markets,” said Under Secretary for International Trade Marisa Lago. “From strengthening supply chains to sustaining U.S. leadership in technology and innovation, ITA continues to enhance U.S. economic security and promote...
09
Jan
Tentative Agreement on New Six-Year Master Contract Reached by ILA and USMX
In an announcement last evening, the United States Maritime Alliance (USMX) and the International Longshoremen's Association (ILA) said they have tentatively agreed on all terms of a new six-year Master Agreement.
In order for USMX members to confirm the conditions of the final contract, the two parties decided to keep working under the current agreement until the union could convene its whole Wage Scale Committee and set up a...
08
Jan
On January 2, 2025, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) Export Enforcement published its 2024 Year in Review, spotlighting key accomplishments in protecting U.S. national security. In this report, BIS highlights its expanded enforcement capabilities, impactful actions against illicit procurement networks, and collaborations with industry, academia, and international partners.
Key Highlights of the 2024 Year in Review
1. Disruptive Technology Strike Force Expansion
BIS expanded the geographic reach of its Disruptive Technology Strike Force by adding new units in...
06
Jan
Last week, the Commerce Department’s Bureau of Economic Analysis announced that GDP and personal income increased in almost every U.S. state according to the latest data from their report on Gross Domestic Product by State and Personal Income by State, 3rd Quarter, 2024.
Real gross domestic product increased in 46 states and the District of Columbia. The nation's GDP grew at an annual rate of 3.1 percent in the third quarter and has grown by 12.6% under the Biden-Harris Administration.
In addition, Americans continue to make and...
06
Jan
The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) are set to resume contract negotiations ahead of a January 15 deadline. Perhaps the threat of liner operators implementing surcharges if the strike happens helped get the ball rolling again. Regardless, the hope is that the issues regarding wages and working conditions for East Coast port workers will be resolved. Many in the industry are concerned about further disruptions, especially in light of other issues the supply chain is...
20
Dec
Paris, France – This week, Export-Import Bank of the United States (EXIM) Chair Reta Jo Lewis delivered remarks during the International Economic Forum of the Americas’ (IEFA) Conference of Paris and met with industry leaders in the pharmaceutical, finance, and renewable energy sectors. Over the course of the week, Chair Lewis highlighted EXIM’s efforts to promote U.S. technologies that can reduce emissions and support U.S. jobs.
In remarks during a panel titled, “Scaling Lower Carbon Economies at Speed,” Chair Lewis said...
19
Dec
Bipartisan legislation will modernize the EDA and other regional commissions whose mission is to spur economic growth in communities across the country
The U.S. Department of Commerce’s Economic Development Administration (EDA) celebrates its historic reauthorization by Congress, allowing it to continue its legacy of promoting American innovation and competitiveness by providing grants and support to communities across the country. Since 1965, EDA has led some of the nation’s most impactful programs to strengthen public works and infrastructure, job creation and workforce development,...
17
Dec
WASHINGTON, D.C. - This week, Assistant Secretary of Commerce for Industry and Analysis Grant T. Harris traveled to New York City to advance the U.S. Department of Commerce’s efforts to strengthen U.S. supply chains. During his visit, he participated in the Financial Times: Investing in America Summit and met with industry leaders to advance the Department’s mission.
At the Financial Times Summit, Assistant Secretary Harris delivered the keynote address, where he highlighted the Biden-Harris Administration’s efforts to develop stronger supply...
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