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Trade News Archive: 24 October - 30 October
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As well as providing fresh news reports every day, AmericanEconomicAlert.org offers a uniques news rating system. Each news item below has been given a rating from 1 to 5 stars, depending on its importance and relevance to U.S. international economic and trade policy.
 

Wednesday, October 29, 2014
Medical device company Volcano laying off 170 workers
Sacramento Business Journal

• Comment: "San Diego-based medical device maker Volcano Corp. will be laying off 170 manufacturing employees in Rancho Cordova by Dec. 16."
Modine Manufacturing earns work from Chinese vehicle manufacturer
Milwaukee Business Journal

• Comment: "Citing customer confidentiality, the Chinese company did not provide details about the production award. However, Modine (NYSE: MOD), which has two manufacturing plants in China, is expected to begin making the products at the facilities in 2016."

Tuesday, October 28, 2014
Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders September 2014
U.S. Census

• Comment: "New orders for manufactured durable goods in September decreased $3.2 billion or 1.3 percent to $241.6 billion, the U.S. Census Bureau announced today. This decrease, down two consecutive months, followed an 18.3 percent August decrease. Excluding transportation, new orders decreased 0.2 percent. Excluding defense, new orders decreased 1.5 percent. "
Obama taking action to push manufacturing
Fox News

• Comment: "The White House announced the executive actions Monday as part of the day's focus on manufacturing, which administration officials consider one of the bright spots of the economic recovery. Obama met with a panel of labor, academic and industry officials who have offered advice on how to boost the manufacturing sector."
China Fake Invoice Evidence Mounts as Hong Kong Figures Diverge
Bloomberg

• Comment: "China recorded $1.56 of exports to Hong Kong last month for every $1 in imports Hong Kong registered, leading to a $13.5 billion difference, according to government data compiled by Bloomberg. Hong Kong’s imports from China climbed 5.5 percent from a year earlier to $24.1 billion, figures showed yesterday; China’s exports to Hong Kong surged 34 percent to $37.6 billion, according to mainland data on Oct. 13."

Monday, October 27, 2014
CNH to lay off 150 at Mount Pleasant tractor plant
Milwaukee Business Journal

• Comment: "CNH Industrial, which makes agricultural equipment at the factory at 7000 Durand Ave., is shutting down second-shift tractor production and reducing production as the industry faces a slowdown, said Jeff Vassh, president of the United Auto Workers Local 180."
Manufacturing Key to US Competitiveness—President Provides More Funding
Industry Week

• Comment: "Smaller manufacturers will receive assistance as well as the Department of Commerce’s Manufacturing Extension Partnership, which serves over 30,000 U.S. manufacturers each year, will build new capabilities at its state-based centers and pilot a competition for $130M over five years across ten states to help small manufacturers adopt new technologies and bring new products to market."
Obama's day: Manufacturing
USA Today

• Comment: "Obama will unveil a series of new executive actions during a meeting of his Advanced Manufacturing Partnership Steering Committee. The new orders call for redirecting $300 million in federal money to new manufacturing technologies, $100 million for apprenticeship programs and $150 million to help manufacturers market new technologies."
Using Cash and Pressure, China Builds Its Chip Industry
New York Times

• Comment: "In recent months, multinational companies have faced growing pressure in China, where investigators have begun antitrust and price-fixing investigations aimed at food manufacturers, automakers and technology companies. While Qualcomm’s troubles fit the trend, they also show how China’s inquiries align with broader economic and strategic initiatives."

Sunday, October 26, 2014
'C.E.O. Confidant' Looks at China's Business Pioneers
New York Times

• Comment: "In the last five or 10 years, they didn’t have to innovate. They could make plenty of money manufacturing or copying other people’s ideas."