Trade

Jellaluna via Flickr

Consumers could see a sharp rise in the cost of tomatoes if the U.S. Department of Commerce pulls out of a trade agreement it has maintained with Mexico since the 1990s. Experts say that price hike could have a ripple effect on other foods – even (gulp) pizza.

Pixabay

From Texas Standard:

Volatility is high on Wall Street right now, and it’s affecting everyone, not just those with a stock portfolio.

Angelos Angelou of Angelou Economics says so many are affected, in part, because 40 percent of the U.S. workforce has individual retirement accounts with investments in the stock market. Angelou says many factors have contributed to the volatility, especially the trade war with China.

Morgan Childers/Flickr (CC BY-NC-ND 2.0)

From Texas Standard:

As the clock approached midnight  Sunday, word began to spread that Canada was ready to sign on the dotted line of the new trade agreement with the U.S. and Mexico. Formerly known as the North American Free Trade Agreement, or NAFTA, the retooled trilateral deal is called the United States-Mexico-Canada Agreement, or USMCA. But the new name is only a small part of the changes.

Updated at 5:40 p.m. ET

The United States and Mexico have reached an "understanding" on several critical trade issues following bilateral talks to renegotiate the North American Free Trade Agreement. They will now likely re-engage with Canada to reach a final deal on NAFTA, a primary goal of the Trump administration.

Speaking at the White House on Monday, President Trump said he wanted to change the NAFTA name to the U.S. Mexico Free Trade Agreement. He also reframed the negotiations as two bilateral trade deals.

Updated at 8:15 a.m. ET

As the day dawned across the U.S. on Friday, a new economic reality dawned with it: The tariffs long threatened against billions of dollars in Chinese goods took effect just at midnight ET while many Americans were sleeping — but Beijing was ready immediately with a wake-up call of its own.

Andrea Garcia for KUT

President Donald Trump is threatening tariffs again, this time on more than $200 billion of goods from China. The administration earlier this year began taxing imports of a variety of products, including washing machines, lumber, steel and aluminum. While many of those tariffs won't be felt for some time, there are some Austin businesses already making adjustments.

CoolingTowersNT /Wikimedia Commons [CC BY 4.0]

From Texas Standard:

We’ve been hearing the word tariffs an awful lot recently, But the conversation about whether and how much started back in March when President Donald Trump announced new duties on steel and aluminum imports – at that time he granted exemptions to some major trading partners, including Canada, Mexico and the European Union, or EU. But late this week, the Trump administration said those countries will face steel and aluminum tariffs of up to 25 percent, in order to protect American national security interests.

Travis Wise/Flickr (CC BY 2.0)

From Texas Standard.

Something is happening in far west Texas that could be a harbinger for the rest of the state. El Paso has no place to send recycled trash. China, which is a destination for much of what we recycle in the U.S., doesn’t want it anymore.

Henry Jordan

From Texas Standard.

President Donald Trump has brought or threatened tariffs against many U.S. trading partners in an effort to bring them to the negotiating table. China threatened back, promising to bring tariffs against many U.S. imports. That trade battle may seem far away, but it is making a lot of farmers in Texas nervous.

Jorge Sanhueza-Lyon/KUT News

From Texas Standard.

Facing potential new tariffs with China, some Texas agricultural producers say they’re concerned about extra taxes on the products they ship to China. But the state’s Agriculture Commissioner Sid Miller says most Texas producers won’t be affected.

Kumar Appaiah/Flickr (CC BY-NC-SA 2.0)

From Texas Standard.

According to the Dallas Federal Reserve’s monthly Texas Manufacturing Outlook Survey, activity at Texas factories expanded in March. But the report also indicated that the production index, a key measure of state manufacturing conditions, fell 15 points – the sixth biggest drop since 2004. So what does this mean for the state and its manufacturing industry?

Joy Diaz

From Texas Standard.

China said on Friday that it plans to impose tariffs on American fruit, pork and wine among other products. The announcement comes a day after President Trump signed a memo proposing $60 billion in tariffs on Chinese-made products.

Gabriel C. Pérez/KUT

From Texas Standard.

In the middle of all of the hype surrounding South By Southwest, the European ambassador to the U.S. has landed in the Texas capitol city.

Ambassador David O’ Sullivan is representing the EU at SXSW’s Cities Summit.

Sarangib/Pixabay (Public Domain)

From Texas Standard:

During the 2016 presidential campaign, Donald Trump famously criticized NAFTA as the “worst trade deal ever signed in this country.” President Trump is now taking a somewhat softer line on NAFTA. A draft letter from the White House emerged this week that indicates the administration wants to re-negotiate the trade agreement with Mexico and Canada, leaving some provisions in place, while seeking changes to others. The document contains few details, but it does indicate that the president would like the ability to impose tariffs on some imported products. Re-opening NAFTA negotiations would require Congressional approval.

Jorge Sanhueza-Lyon/KUT News

From Texas Standard:

Texas Agriculture Commissioner Sid Miller announced a trade agreement Wednesday between the state and a group of settlers on the West Bank of Israel. Neither the U.S. government nor the United Nations recognizes the settlements.

Image via Twitter/GregAbbott_TX

From Texas Standard:

Gov. Greg Abbott is on his third official international trip since being sworn in last January. Yesterday in Jerusalem, the Governor met with Israeli Prime Minister Benjamin Netanyahu. Last week Abbott said the purpose of the upcoming meeting was to promote business ties abroad.

However, since news broke over the weekend of the U.S. prisoner swap and an end to sanctions against Iran, Monday's meeting seemed more like a political trip. That’s left some scratching their heads, and others nodding in approval.

 


Image via Flickr/Oliver Townend (CC BY-ND 2.0)

From Texas Standard:

Texas Gov. Greg Abbott has been in Cuba this week talking trade. He arrived in Havana on Monday with a delegation of 25 people to explore business opportunities between the formerly embargoed country and the Lone Star State.

Image via Flickr/Gobierno de Chile (CC BY 2.0)

From Texas Standard:

The biggest trade agreement in history has been out of the headlines the past week as the international community has been focused on terrorist events. But the Trans-Pacific Partnership shouldn't be ignored. The deal establishes trade relations between the United States and eight other countries. Several Asian countries are part of the deal, but China isn't.