Trade News

11 December 2008 Canada's trade surplus better than expected The following was reported on in the 11 December 2008 edition of “globeandmail.com”. Canada's international trade surplus narrowed in October to $3.78-billion, the smallest since January, Statistics Canada said Thursday, as Canadians…

11 December 2008 A Carbon Tax vs Cap-and-Trade The Canadian Chamber of Commerce has released an economic paper titled “A Carbon Tax vs Cap-and-Trade” analysing the two systems of reducing the buildup of greenhouse gas emissions. The paper is written by the Chamber’s Senior Economist, Tina Kremmidas…

11 December 2008 U.S. Trade Deficit Rose in October The following is excerpted from the 11 December 2008 edition of “New York Times”. The spiraling financial crisis has hit American businesses where it hurts: exports are falling as foreign economies stumble, undercutting a pillar of the economy. The…

11 December 2008 Unexpected Drop in China’s Imports and Exports The following is excerpted from the 11 December 2008 edition of “New York Times”. Chinese exports registered their largest drop in nearly a decade last month, suggesting that the global recession could be far worse than many economists…

11 December 2008 ACE Capabilities on Entry Processing, Manifests, Etc. to be Expanded The following was reported on in the 11 December 2008 edition of “WorldTrade Interactive”. U.S. Customs and Border Protection is working to expand the capabilities of the Automated Commercial Environment over the…

10 December 2008 Recall of Pork and Pork Products from Ireland The following news release was issued by the CFIA on 9 December 2008; this is available on their web site at http://www.inspection.gc.ca/english/fssa/concen/2008irpore.shtml . The Canadian Food Inspection Agency is monitoring a Food…

10 December 2008 Orders in Council Available The following Orders in Council are available on the Canada Gazette website: 1. PC 2008-7759, Rules Amending the Tax Court of Canada Rules of Procedure respecting the Customs Act (Informal Procedure) http://canadagazette.gc.ca/partII/2008/20081210/html…

10 December 2008 Update to CFIA AIRS website Chapter 01 was published to add a new end use to the following HS codes for the USA for the end use: display in zoo. 01.06.19.2070.02 Coatis. This new requirement created a change of version for the following HS codes: 01.06.19.2070.03 - Kinkajous. 01.06…

10 December 2008 Big banks keep slice of deep rate cut The following article is excerpted from the 10 December 2008 edition of the “Toronto Star”. The Bank of Canada slashed its key interest rate yesterday by three-quarters of a percentage point to the lowest level in half a century and confirmed…

10 December 2008 New Year’s Border Tie-Ups Possible Unless US Adopts Contingency Plan for Electronic Collection of Border Crossing Fees: CTA This is an excerpt from a news release issued by the Canadian Trucking Association on 8 December 2008. The Canadian Trucking Alliance says the implementation…

10 December 2008 Port of Montreal not content to contain itself The following article is excerpted from the 9 December 2008 edition of “globeandmail.com”. The global economy might be slowing down and with it international trade, but so far it is having little effect on the Port of Montreal…

10 December 2008 China unveils new forwarder standards This article is excerpted from the 9 December 2008 edition of “American Shipper”. The Chinese government has issued new standards for its domestic freight forwarding industry, the Hong Kong Shipping Gazette reported Tuesday. The new standards…

10 December 2008 Dire Forecast for Global Economy and Trade This article is extracted from the 10 December 2008 edition of “The New York Times”. The world economy is on the brink of a rare global recession, the World Bank said in a forecast released Tuesday, with world trade projected to fall next…

10 December 2008 [US] Auto bailout could be finalized today This article is excerpted from the 10 December 2008 edition of “globeandmail.com”. U.S. officials struck an agreement in principle Tuesday on providing $15-billion (U.S.) in emergency loans to the failing auto industry and hoped to finalize…

10 December 2008 SOS Container ship lines struggle to survive what could be an extended bust This article is extracted from the 10 December 2008 edition of “The Journal of Commerce”. What will the container shipping industry look like when it emerges from its current funk? When will global…

9 December 2008 Methodology for the 2009 allocations to eligible softwood lumber exporters The following methodology will be applied in regard to the Allocations of Regional Quota Volume (RQV) in Option B Regions as follows: Quebec The 2009 allocation methodology will remain the same as the…

9 December 2008 CBSA Message: Scheduled CIG outage The following message is from CBSA (EDI08-098). Please note that on Wednesday, December 10, 2008 at 1:00 am (Eastern Time), for maintenance purposes, there will be a 20 minute interruption in processing inbound and outbound data over the Customs…

9 December 2008 Update to CFIA AIRS website Chapter 06 was published to change the release recommendation from "Refer to CFIA-ISC" to "Approved" for the following HS Codes for the Continental United States. 06.04.91.0045.42 - Foliage, branches - fresh - Willow 06.04.91.0047.13 - Foliage, branches -…

8 December 2008 Bank of Canada cuts rates to 50-year low This article is excerpted from the 9 December 2008 edition of “Reuters Canada”. The Bank of Canada unexpectedly cut its key interest rate on Tuesday by three-quarters of a percentage point to a 50-year low of 1.50 percent and declared the…