Trade News

3 March 2009 Sharp drop into recession suggests pain will be short The following is excerpted from the March 3rd edition of "globeandmail.com". Canada's recession is brutal. It could also turn out to be mercifully short. Gross Domestic Product contracted at an annual rate of 3.4 per cent in the…

3 March 2009 GDP decline heralds long slump The following is excerpted from the March 3rd edition of "Toronto Star". The Bank of Canada is poised to cut its benchmark overnight rate in half today as it attempts to pull the Canadian economy out of a downward spiral. The rate cut, which may or may not…

3 March 2009 What Obama's bold budget means for Canada The following is excerpted from the February 28th edition of "globeandmail.com". It was written by Jeffrey Simpson. President Barack Obama's budget is stunning, bold and radical, yet it won't be enough to set his country's finances straight. For…

3 March 2009 Big banks cut lending rates The following was reported on in the March 3rd edition of "Toronto Star". Canadians looking for mortgages and business borrowers are getting a break today as the Bank of Canada cut its influential interest rate again by a half-point to a record low of 0.5 per…

3 March 2009 EU closer to total ban on Canadian seal products THe following is excerpted from the March 3rd edition of "globeandmail.com". The European Union took another step toward a ban on Canadian seal products yesterday as a parliamentary committee rejected a proposal to label the products…

3 March 2009 USTR’s New Trade Agenda Sees Global Engagement, Approval of Pending FTAs The following was reported on in the March 3rd edition of "WorldTrade Interactive". The Office of the U.S. Trade Representative has submitted to Congress its 2009 Trade Policy Agenda and 2008 annual report on the…

3 March 2009 Ambitious [US] Trade Agenda on Hold Pending USTR Confirmation The following is excerpted from the March 3rd edition of "WorldTrade Interactive". The House Ways and Means and Senate Finance committees have established an ambitious trade agenda for the two-year session of the 111th…

3 March 2009 CBP "10+2" Information Sessions, March 2009 The following is excerpted from the 3 March 2009 news release by CBP. CBP is hosting trade outreach events in various locations around the U.S. to provide the trade community with an opportunity to learn more about the new Importer Security…

2 March 2009 Waterproof Footwear from China and Vietnam - Notice of Commencement of Preliminary Injury Inquiry The Canadian International Trade Tribunal today initiated a preliminary injury inquiry into a complaint by the Shoe Manufacturers’ Association of Canada, of Baie d’Urfé, Quebec, that it has…

2 March 2009 Central bank tactics pushed to brink The following article is excerpted from the 1 March 2009 edition of “globeandmail.com”. Bank of Canada Governor Mark Carney is approaching uncharted territory. Widely expected to reduce the benchmark lending rate to 0.5 per cent this week, Mr. Carney…

2 March 2009 [Canadian] Economy takes 3.4% dive This article is excerpted from the 2 March 2009 edition of “globeandmail.com”. Canada's economic growth cratered in the fourth quarter, as the global recession starved exporters of markets and deterred wary consumers from spending at their usual pace…

2 March 2009 Homeland Security chief says Canada-U.S. border review 'misconstrued' The following is excertped from the 27 February 2009 edition of "National Post". U.S. Homeland Security Secretary Janet Napolitano sought to reassure Canadians on Friday that a recent review of U.S-Canada border…

2 March 2009 Certain plain weave canvas fabric - Request to eliminate duty The Department of Finance [DoF] is seeking your views on a request that it has received to eliminate the duty on certain plain weave canvas fabric for use in the manufacture of apparel. DoF is proposing to add a duty-free…

2 March 2009 Canadian Chamber Economic Update - GDP Report Canada's economy contracted at an annualized rate of 3.4% in the final quarter of 2008, marking the start of the recession. This was the sharpest quarterly decline since 1991. Wide-ranging weakness was evident. - Consumer spending fell an…

2 March 2009 GCC Remains Resilient This article is by Peter G. Hall, Vice-President and Chief Economist, Export Development Canada Spreading global weakness is casting doubt on the forecasts for global economic hot spots. Gulf Cooperation Council countries defied description in the boom years, but…

2 March 2009 EU leaders reject bailout at emergency summit This article is excerpted from the 2 March 2009 edition of “globeandmail.com”. The European Union vowed to heal the rift between its Western and Eastern halves at yesterday's emergency summit as the recession threatened to shatter any sense…

2 March 2009 All Around the World, Trade Is Shrinking This article is excerpted from the 28 February 2009 edition of “The New York Times”. The world trading system, whose growth was deemed an inevitable part of globalization only a year ago, is now shrinking rapidly. Japan, a country built in large…

2 March 2009 [US] DOC Spending Bill Includes Apparel Import Monitoring Requirement This article is excerpted from the 2 March 2009 edition of “WorldTrade Interactive”. An omnibus fiscal year 2009 appropriations bill approved by the House last week includes a provision directing the Department of…

2 March 2009 CBP Commissioner W. Ralph Basham Retires The following is excerpted from a news release from US Customs and Border Protection on 27 February 2009. Commissioner W. Ralph Basham retired today as Commissioner of U.S. Customs and Border Protection (CBP) after more than 38 years of public…

27 February 2009 CBSA Message: Scheduled Maintenance Outage The following is a message from CBSA (EDI09-019). EDI General Outage: On Sunday, March 1, 2009 there will be an outage between 4:30am and 9:30am for all EDI applications including ER, RNS, CUSDEC, CADEX, ACI Marine, ACI Air, Rail and…