US Exporters Need TPP to Boost Opportunity & Competitiveness in Asia-Pacific Region
US Coalition for TPP - July 7, 2016
With a combined population of nearly 500 million and GDP of over $10 trillion, the 11 other Trans-Pacific Partnership (TPP) countries represent the second largest combined market for US goods and services in the world ? offering an enormous opportunity for US exporters. However, US exporters are falling behind in the critical Asia-Pacific region.
- Between 2000 and 2014, the US share of total goods imports into the 15 largest Asia-Pacific markets dropped by 46 percent.
- Major reasons for the decline include steep tariff and non-tariff barriers that hinder US exports in a region in which preferential trade agreements that exclude the United States have proliferated over the past decade.
The TPP will reverse course and restore the competitiveness of US exports in the region by eliminating tariff and non-tariff barriers for goods and services and establishing new rules for 21st century trade.
In short, the TPP will not only strengthen current trade commitments with six existing US free trade agreement (FTA) partners, it will also open new markets in five countries with which the United States has no FTA in place - Brunei, Malaysia, New Zealand, Vietnam and, most importantly, Japan.
For information on the Trans-Pacific Partnership and how trade with the TPP countries benefits the United States, visit the following link.
Port of Oakland Welcomes First Train to New $100M Near-dock Facility
Port of Oakland -July 7, 2016
The Port of Oakland today welcomed the first train to use a new, $100 million near-dock rail facility at the former Army Base. The new tracks are located in the Port's Outer Harbor Intermodal Terminal area. They were designed as part of a strategy to enhance the Port's intermodal capabilities. The Port wants to attract more discretionary cargo through Oakland. Discretionary cargo is cargo which is not local to the region and can be shipped through any number of seaports in the United States, Canada or Mexico. The cargo on this train was originally destined for Canadian seaports.
The 100-car train carries agricultural products from Archer Daniels Midland Company from the Midwestern United States and headed to Asia. The cargo will be transferred from the rail cars directly into containers by Port tenant Capital River Group and delivered to the terminals for export. The Port of Oakland has seen a growing market for agricultural products, especially from California's Central and Salinas Valleys and the Midwest.
"The Port envisioned a rail yard that would bring cargo through Oakland," said Port of Oakland Maritime Director John Driscoll. "This was made possible by maritime business partners such as Union Pacific Railroad and government funding partners."
The new tracks are part of a phased rail expansion. They consist of five manifest yard tracks and eight support yard tracks. Manifest yards are used for receiving rail cars that come from Class I railroads. Support yards are used for short-term storage. There are a total 39,000 linear feet of track. Warehouses and distribution centers are also envisioned on the former Army Base.
The rail yard was built using California state Trade Corridor Improvement Funds (TCIF) and federal Transportation Investment Generating Economic Recovery (TIGER) grants.
More than 50% of small and medium size exporters are overpaying taxes.
Exim Small Business Group - July 8, 2016
IC-DISC is an IRS export tax credit program that enables small and medium business exporters to reduce their tax burden on products sold overseas.
In addition to overpaying taxes, most small business exporters are not protecting themselves from non-payment by foreign buyers. Export credit insurance is a straightforward policy that can cover up to 95% of your foreign receivables and lets you beat the competition by offering credit terms up front.
Contact EXIM or us for further information.
Details: EXIM Small Business Group
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