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Trade News Archive: 11 September - 17 September
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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.
 

Tuesday, September 16, 2014
Boeing, Airbus evenly matched most places, but not in China: roundup
Chicago Business Journal

• Comment: "The Boeing Co. is winning the battle for market share among low-cost carriers starting up in China, and that could be good news for Wichita. According to a report from the Seattle Times, Boeing says it has about 70 to 80 percent of the sales to that market in the past year, a marked difference from the roughly even split between Boeing and Airbus from the large, state-owned carriers."
MAPI Predicts 'Broad-based Growth' for US Manufacturing
Industry Week

• Comment: "High-tech industrial production, which accounts for just 5% of total production, will grow much faster than the rest of manufacturing, MAPI predicts. While non-high-tech production will grow 3.2% in 2014, 3.8% in 2015 and 3.2% in 2016, production of computers and electronic products will rise 4.7% in 2014, 8.5% in 2015 and 10.4% in 2016."
U.S. Ex-Im Bank extension seen likely though mid-2015: lawmakers
Reuters

• Comment: "The U.S. Export-Import Bank is likely to have its charter renewed through mid-2015 this week, even though lawmakers in both parties said on Tuesday they see the extension as a second-best solution."
China Tells Domestic Companies -- Go Make Overseas Acquisitions
Industry Week

• Comment: "China has been actively acquiring foreign assets, particularly energy and resources, to power its economy, with firms encouraged to "go out" and make overseas acquisitions to gain market access and international experience. Officials have said overseas direct investment (ODI) could exceed FDI this year."
Globalization Is in Retreat? Not So Fast
New York Times

• Comment: “I don’t agree that China’s moment is coming to an end,” said Karl P. Sauvant at the Columbia Center on Sustainable Investment. “The most important determinant of investment is market size and market growth, and China remains a big market and continues to grow at a reasonable pace.”
U.S. Steel cancels expansion projects
Pittsburgh Business Times

Monday, September 15, 2014
Autos Weigh on U.S. Factory Output; Outlook Still Upbeat
New York Times

• Comment: "Factory production dropped 0.4 percent last month as motor vehicle production fell sharply after surging in July, the Federal Reserve said. The drop, which followed a gain of 0.7 percent in July, confounded economists' expectations for a 0.3 percent rise."
GOP Senate no slam dunk on trade for Obama Read more: http://www.politico.com/story/2014/09/2014-election-gop-senate-trade-110937.html#ixzz3DRojjySq
Politico

• Comment: "There’s a silver lining for Barack Obama if Republicans take over the Senate: His ambitious global trade agenda could actually take off. But there’s also a risk it could run into a brick wall if he ignores a big red flag raised by Republicans."
INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
Federal Reserve

• Comment: "The index of industrial production edged down 0.1 percent in August, and the index for manufacturing output decreased 0.4 percent; the declines were the first for each since January"

Sunday, September 14, 2014
Funding for Trade Financing Gets Reframed
Wall Street Journal

• Comment: "House Financial Services Committee Chairman Jeb Hensarling has spent much of this year waging a very public fight against the U.S. Export-Import Bank, saying the agency tasked with helping U.S. exports is a form of corporate welfare and crony capitalism."

Saturday, September 13, 2014
Nevada Woos Tesla Plant in Tax Deal, but Economic Benefits Prompt Debate
New York Times

• Comment: "That model predicted an increase in economic output over the next 20 years of more than $100 billion, or about 80 times an incentive package of about $1.3 billion. The incentives kick in as more money is invested; the factory is supposed to employ 6,500 people, but that is not what the tax breaks are tied to."

Friday, September 12, 2014
Nev. governor enacts Tesla tax break package
Fox News

• Comment: "The "gigafactory" is expected to bring more than 20,000 jobs and $100 billion to Nevada's economy over the next 20 years. It will be the biggest lithium battery factory in the world and is critical to the electric car-maker's plans to begin mass marketing a more affordable line of the vehicles within three years."
U.S. Steel cleared to expand plant
Pittsburgh Business Times

• Comment: "As a result of the extension, Minntac will be expanded by 483 acres, extending the life of the mine by 16 years and ensuring the long-term competitiveness of the facility. About 100 jobs have been created as a result of the project."

Thursday, September 11, 2014
Initial Jobless Claims Surge Most Since June
Zero Hedge

• Comment: "For the 2nd week in a row, initial claims missed expectations and on the heels of last week's dismal payrolls data (which was "unbelievable" according to the smartest people in the room) it surged to 315k - the highest since June. Perhaps most critically, on both an adjusted and unadjusted basis, initial claims are highher year-over-year (SA 315k vs 307k, NSA 234k vs 229k respectively). Is this noise? It has been 7 weeks now from the mid-July lows... and the 4-week-average many look at, has risen for 4 of the last 5 weeks."
China Fines Volkswagen and Chrysler for Antitrust Violations
New York Times

• Comment: "The fines, which totaled $46 million, were the latest in a series of tough measures by China against what it considers monopolistic practices. In recent months, foreign companies in a range of industries including automobiles, technology, pharmaceuticals and food packaging have faced increased scrutiny, including raids and allegations of unfair practices."
China Steps Up Defense of Probes as Foreign Businesses Complain
Bloomberg

• Comment: "Pressure has been building on Chinese authorities to respond after probes of global companies drew protests in the past month from European and U.S. trade groups, warning that such scrutiny was undermining the country’s appeal. As the world’s second-largest economy slows, Li sought to counter such concerns this week by pledging to improve conditions for attracting foreign investment."