International Trade News :

Mexico to impose $2.4 billion in retaliation over cross-border truck program
Mexico announced March 16 that it will retaliate against $2.4 billion worth of U.S. exports after President Obama signed into law last week a bill that terminates a cross-border trucking pilot program. According to press reports, Mexican Economy Minister Gerardo Ruiz Mateos said tariffs will be imposed on nearly 90 agricultural and industrial products from 40 states. More...

Mexican tariff hike on U.S. exports gets quick reaction
Mexico’s decision this week to reimpose tariffs on $2.4 billion worth of U.S. exports in retaliation for the cancellation of a cross-border trucking pilot project has drawn a swift reaction from those affected. At least one lawmaker is seeking to overturn the program’s termination, while U.S. businesses are calling on Congress and the Obama administration to resolve the dispute quickly. More...

Multinational companies brace for crackdown on international tax issues
Two business associations released recently a report defending the global activities of multinational corporations. The report comes as Congress and the Obama administration are preparing to crack down on what they see as some MNCs’ evasion of U.S. taxes on income they earn abroad. More...

House, Senate launch efforts to change Cuba trade policy
Efforts to ease trade with Cuba are beginning to move forward in Congress. Both the House and Senate took steps this week to expand bilateral commerce with the island nation, which has been under a U.S. embargo for over 40 years. Supporters say opening the Cuban market could provide a significant boost to the struggling U.S. economy. More...

Countries pursuing FTAs as part of economic recovery effort
Even as concerns continue to mount that the global economic downturn will spawn a rash of protectionist measures, some countries are heading the other direction. Press reports this week indicate that free trade agreements are continuing to move forward around the globe, driven by the conviction that expanding trade will help economic recovery efforts rather than hinder them. More...

Brazil working toward adoption of ATA Carnet
Brazil is moving toward adoption of the ATA Carnet. This so-called “merchandise passport” allows duty-free temporary imports of merchandise and equipment. While Brazilian law already allows for such treatment there is a lot of bureaucratic red tape involved, making it difficult to conduct certain types of foreign trade. Now, however, following an analysis by Brazil’s internal revenue, foreign trade (Itamaraty) and civil cabinet authorities, the Brazilian Congress is considering the adoption of the Istanbul Convention governing the use of ATA Carnets. More...

WTO forecasts 9% fall in global trade
Collapsing global demand will send the volume of world goods trade plunging by 9 per cent this year, the largest drop since the second world war, the World Trade Organisation predicted on Monday. This compares with anaemic growth of 2 per cent in 2008, reflecting the sharp downturn in the global economy late in the year, and 6 per cent in 2007. More...

Featured Trade Lead :

Buyer seeking large volume of mining belts

World Trade Center Nashville has a buyer seeking a large volume of coal mining belts.

HTS code: 4010.12.9000, CONVEYOR BELTS/BELTING,OF VULCANIZED RUBBER, REINFORCED ONLY WITH TEXTILE MATERIALS.

For details and product specifications please contact:

Mark Condon
843 670 4243
mark@centradex.com

Did you know?
KWTC members have access to a full database of trade leads, available at wtca.org. For questions, contact marie.davis@kwtc.org.

Featured Events :

International Update Series:

"Do You Know What Commercial Terms Govern Your International Transactions?  It Might Not Be What You Thought"

Presented by Frost Brown Todd

Friday, March 27
12:00-1:15pm

Join  Powell Starks and David Walulik of Frost Brown Todd in a discussion of the Vienna Convention and its implications for your international transactions.

Presentation available in these Frost Brown Todd locations:
Louisville, Lexington, Cincinnati, Columbus, Nashville

Click here to view flyer
and registration info

2009 Basic Export Compliance Seminar

Presented by
Expeditors International

Instructor:
John McCarthy

Wednesday, May 20
9:00am-4:00pm

Expeditors International
4800 Crittenden Drive
Louisville, KY 40209

$150.00 per person (includes continental breakfast and lunch)

Click here to view flyer
and registration info

Check out our
Calendar of Events!

Member News :

Big Ass Fans expands facility to keep pace with growth

Big Ass Fans, Inc., the Lexington-based manufacturer of industrial fans, is about to complete another chapter in its continuing story of growth and success. This week, the company is nearing completion of phase one of a new facility that will become home — headquarters, testing lab and manufacturing facility — for an organization that has gained national attention for innovation, creativity and continuous growth.

Read more...

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Trade Corner :

Incoterms 3000 to be released Fall 2010

Frank Reynolds, the U.S. Delegate to the International Chamber of Commerce's (ICC) Incoterm's drafting committee, said that the revised version of Incoterms 2000 should be released in the fall of 2010. Once released, the new Incoterms will take effect on January 1, 2011. The new version of the Incoterms will be known as Incoterms 3000 in order to avoid the expectation that they will be revised every ten years.

The ICC introduced the first version of Incoterms, short for "International Commercial Terms," in 1936. There are currently 13 Incoterms.  The Incoterms have been revised six times in order to reflect international trade developments.

When Incoterms 3000 is released, the Kentucky World Trade Center will host a seminar for member companies on the topic.

KWTC membership means global business opportunities.
Don't miss out! For membership information, click here.