International Trade Update December 27, 2010

U.S. Trade Representative Ron Kirk has announced that the U.S. and Yemen had successfully concluded bilateral market access negotiations as part of Yemen’s efforts to accede to the World Trade Organization (WTO). The bilateral agreement provides new market access opportunities for U.S. providers of agriculture, goods and services, and sets the stage for Yemen to complete accession negotiations with WTO Members.

China, which supplies more than 90 percent of the world's rare earth minerals, will raise the export taxes for some elements to 25 percent 2011, the Ministry of Finance said.

The U.S. House of Representatives on Wednesday approved the extension of a preferential trade deal that allows the duty-free import of many Colombian products. "The overwhelming vote in favor of the extension of the Andean Trade Promotion and Drug Eradication Act (ATPDEA) in the House of Representatives shows bipartisan support for this program and Colombia," the country's ambassador to Washington, Gabriel Silva, said in a press release.

FOZ DO IGUACU, Brazil, Dec 15, 2010 (AFP) – South America's Mercosur trade partners signed a preferential tariff deal Wednesday with several developing nations including India, officials said. Argentina, Brazil, Paraguay and Uruguay formed Mercosur in 1991 with the aim of eventually creating a South American common market.

WASHINGTON (Dec. 15) -- The Obama administration said Wednesday that two days of talks with a high-level delegation from China produced results that should benefit U.S. companies ranging from manufacturers of computer software and wind turbines to beef producers.

GENEVA (Reuters) – Members of the World Trade Organization are showing new energy and determination to reach a global trade deal but must now abandon fixed positions to clinch the agreement, the head of the WTO said on Tuesday.

Geneva, 13 Dec (Kanaga Raja) -- In line with the proposed intensification of work on all fronts of the Doha Round of trade negotiations at the World Trade Organization (WTO) from the beginning of next year, the WTO Negotiating Group on Rules is now set to accelerate its own work on the issues of anti-dumping and fisheries subsidies. This emerged during informal meetings of the Rules Group last week.

BRASILIA (Reuters) - Nearly a dozen developing countries led by Brazil and India will sign an accord this week to cut tariff barriers and boost trade among themselves, a senior Brazilian government official said on Monday. Negotiations under the Global System of Trade Preferences Among Developing Countries were relaunched in 2005 in an attempt to diversify developing countries' trade revenue and reduce their dependence on rich countries.

SHANGHAI -(Dow Jones)- China will apply lower import duties on over 600 energy-related, basic material items and certain electronic parts in 2011 to meet demand and foster economic structure adjustments, the Ministry of Finance said in a statement Tuesday. The ministry didn't specify changes in the size of the import duties. But it said items such as propane and butane will be added to the list of temporarily lowered import duties for the first time.