Remarks by Wilbur L. Ross at the U.S.-Mexico CEO Dialogue Leadership Dinner

April 11, Commerce Secretary Wilbur Ross addresses the U.S.-Mexico CEO Dialogue Leadership Dinner in Merida, Yucatan, Mexico

Wilbur Ross said: “The bonds between our two countries are deep. We share democratic values and cultural ties. Millions of Americans trace their heritage to Mexico.”

“Mexico is our second largest export market and is our third largest trading partner. Our integrated economies generated over $678 billion in two-way trade in goods and services last year. We also share significant cross-border investment.” Wilbur said. ” In 2017, U.S. foreign direct investment in Mexico totaled more than $109 billion.Mexico’s investment in the United States now tops $35 billion.”

” Our economic relationship supports growth, opportunity, and good jobs for millions of citizens in both our countries. The United States has developed an excellent working relationship with President López-Obrador. And we again thank the administration for its support on the many issues of mutual concern.”

White House: Statement of the United States Regarding China Talks

At President Donald J. Trump’s direction, officials from the United States traveled to Beijing for negotiations on the trade relationship between the United States and China. The United States delegation was led by United States Trade Representative Robert E. Lighthizer and Secretary of the Treasury Steven T. Mnuchin. Vice Premier Liu He led the talks for the Chinese side.

The two parties continued to make progress during candid and constructive discussions on the negotiations and important next steps.

The United States looks forward to the meetings planned with Vice Premier Liu He and the Chinese delegation in Washington next week.

USDA Announces Investments in Water and Wastewater Infrastructure in 23 States

WASHINGTON, March 26, 2019 – Acting Assistant to the Secretary for Rural Development Joel Baxley today announced that USDA is investing $116 million to help rebuild and improve rural water infrastructure for 171,000 rural Americans in 23 states.

“Helping to bring modern water and wastewater infrastructure to rural communities will increase economic opportunities and improve the quality of life for rural residents,” Baxley said. “The investments USDA is announcing today are foundational to health, safety and economic development in rural communities across America.”

USDA is working with local partners to provide financing for 49 water and environmental infrastructure projects. The funding is being provided through the Water and Waste Disposal Loan and Grant program. It can be used for drinking water, stormwater drainage and waste disposal systems for rural communities with 10,000 or fewer residents.

Eligible communities and water districts can apply online on the interactive RD Apply tool or through one of USDA Rural Development’s state or field offices.

Below are some examples of the investments USDA is making:

In Arkansas, Lake City will use a $2.3 million loan to modernize its wastewater treatment and collection system, which serves more than 2,000 residents. This project will improve the system’s capacity and reliability.
Rensselaer, Ind., is receiving a $3.4 million loan and a $1.7 million grant to connect three unserved areas of the city to the sewer system and to replace the main lift station. The homes that will be connected are currently served by individual septic systems. This project will benefit nearly 6,000 residents.
The city of Franklin, Idaho, is receiving a $900,000 loan and a $522,000 grant to increase the supply of water available to the Franklin Water System. The city’s water storage and spring boxes will be rehabilitated, and approximately two miles of pipe that connect the springs to the water system will be replaced. This project will also add two backup wells. It will provide more than 600 of the city’s residents and businesses with reliable water quantity and quality.
USDA is making investments in rural communities in: Alabama, Arkansas, Arizona, California, Georgia, Iowa, Idaho, Illinois, Indiana, Kentucky, Maine, Michigan, Mississippi, North Carolina, Nebraska, New Mexico, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, Utah and Washington.

In April 2017, President Donald J. Trump established the Interagency Task Force on Agriculture and Rural Prosperity to identify legislative, regulatory and policy changes that could promote agriculture and prosperity in rural communities. In January 2018, Secretary Perdue presented the Task Force’s findings to President Trump. These findings included 31 recommendations to align the federal government with state, local and tribal governments to take advantage of opportunities that exist in rural America. Increasing investments in rural infrastructure is a key recommendation of the task force.

Upcoming: USA pavilion at 2019 China  International Fair for Trade in Services

American International Chamber of Commerce (AICC) will host a USA pavilion at 2019 China  International Fair for Trade in Services (CIFTIS) to promote exports and promote American brands, products and services. AICC welcomes U.S. enterprises to participate into the USA pavilon in 2019 CIFTIS.

2019 China  International Fair for Trade in Services (CIFTIS) co-hosted by the Ministry of Commerce and the People’s Government of Beijing Municipality, has been successfully held for five years, becoming a leading exhibition of trade and services in China and the largest comprehensive fair for trade in services in the world. 2019 CIFTIS  will be held in Beijing from May 28 to June 1 in the theme of “Opening-up, Innovation, Intelligence and Integration”.

This year’s CIFTIS has 5 major features:

Highlight expansion of opening-up in service industry and trade in services, and contribute to building a new pattern of comprehensive opening-up. Implement China’s strategy of expanding opening-up, display the 68 achievements made during the first two batches of Beijing’s expansion of opening-up in service industry and China’s opening-up measures such as free trade pilot zone, promote Beijing’s new round of pilot policies for expansion of opening-up in service industry, standards of trade in services, rule-making and system construction, advance further opening-up and cooperation in global trade in services and contribute to building a community of shared future for mankind.

Stress internationalization and deepen the “Belt and Road” international cooperation on trade in services. Invite countries along the “Belt and Road”, top 30 countries and regions of trade in services, 14 countries that signed trade in services agreements with China, international trade associations and well-known enterprises in service industry and trade in services to participate in the fair.

Stress innovation-driven, intelligent development, integration and improvement, and lead the innovation and development of service industry and trade in services. Actively implement the innovation-driven development strategy, exhibit new models, businesses, and services that new technologies such as artificial intelligence and 5G are applied in service field; Promote innovation achievements in intelligent manufacturing, healthcare, and life, the digitization and intelligence of service industry and trade in services; Facilitate the integrated development between service industries including modern service industry and advanced manufacturing, culture and tourism, and that between trade in services and service consumption.

Emphasize negotiation trade, and enable participating enterprises to achieve practical cooperation. This year’s CIFTIS, with serving customers as the fundamental goal and facilitating negotiation trade as the core, collects demands for project trade and carries out trade matching in advance; Push ahead negotiation and cooperation with more than 100 promotion and negotiation activities.

Make a new exhibition layout, magnify CIFTIS’ role as a platform. This year’s CIFTIS uses the form of “one main venue assisted by multiple others” for the first time, which is to set up the main venue at China National Convention Center and the neighboring Beijing International Convention Center & the Olympic Celebration Square, other venues at Wangfujing Business Street, Financial Street, Central Business District, Sub-center, Huilonguan and Tiantongyuan areas, etc.As a state-level, international and comprehensive trading platform for trade in services, CIFTIS is important in serving national politics, economy, diplomacy, reform and opening up, development, and achieving the expansion of opening-up in China’s service industry and the high-quality development of trade in services.

The AICC team welcome your participation!

Contact:

Mr. Jason Quin
American International Chamber of Commerce
355 S. Grand Ave., Suite 2450
Los Angeles, CA 90071
Email: jasonquin@aiccus.org

Ms. Wendy Liu
AICC Beijing Office
9 Jianwai Street, DRC 7-3-43
Chaoyang, Beijing, 100600
Email: beijing@aiccus.org

Apply Now!

Link:

CIFTIS website

The 2019 Symposium on ASIA-USA Partnership Opportunities(SAUPO) will be held in Shanghai

SAUPO
Friday, May 17, 2019
Renaissance Shanghai Yu Garden Hotel, Shanghai, China

The Asian Studies Program at Kennesaw State University (KSU) presents the next Symposium on ASIA-USA Partnership Opportunities (SAUPO), to be held on Friday May 17, 2019 at the Renaissance Shanghai Yu Garden Hotel. As the largest Asia business conference in the U.S., SAUPO provides opportunities for information exchange, network building, global visibility and investment to/from Asia. About 300 business, community, academic and political leaders from the U.S., Asia, Europe, and Africa will participate. The SAUPO Planning Committee and SAUPO Advisory Board welcome your participation.

Future SAUPO Forecast:

Friday May 17, 2019 @ Shanghai, China
Friday April 17, 2020 @ Atlanta, USA
Friday May 14, 2021 @ Tokyo, Japan
Friday April 22, 2022 @ Atlanta, USA

Contact:

Dr. May Gao 
SAUPO Chair 
Professor of Communication and Asian Studies
Kennesaw State University, 
MD #2207
1000 Chastain Road, 
Kennesaw, GA 30144

U.S. Commerce Secretary Wilbur L. Ross was present the Minority Business Development Agency 50th Anniversary Celebration

March 5th, U.S. Commerce Secretary Wilbur L. Ross was present and remarks at the Minority Business Development Agency (MBDA) 50th Anniversary Celebration in Washington.

Ross said, A lot of dedicated, passionate people have made it possible for the Minority Business Development Agency to achieve such a milestone. Congratulations! And thank you — to all the people who work in the small but mighty MBDA — for maintaining a five-decade tradition of excellence. Your service is needed now more than ever to assure the success and growth of minority-owned businesses throughout our nation.<

Ross said, The professional staff of MBDA have worked every day for 50 years with minority businesses throughout the country. When the agency was created, there were a scant 400,000 minority-owned businesses in the United States. Today, there are 11 million, up from four million in 2002.

When we look at minority employer firms, they generate $1.3 trillion in annual sales and have created more than 8.7 million jobs. That is a very big number, but with today’s fast-growing minority population, we need a lot more that we can grow to size and scale.

Since the agency’s inception, it is estimated that MBDA has worked with more than 13 million minority firms in the United States.  And, in just the last five fiscal years, MBDA helped facilitate almost $29 billion in contracts and financing to minority enterprises impacting 111,000 jobs.

One of the most promising avenues to individual prosperity and financial security is owning your own company. It is part of the American heritage and the American dream. And it is the reason so many aspiring people elsewhere in the world want to come to the United States: because it is relatively easy to start a business.

A great feature of the American society is we do not hold failure against anyone who tries. Every serial entrepreneur has had some failures, but they are outweighed by the subsequent successes. Most business start-ups consist of just one or two people initially, and they ramp up from there. With the advent of eCommerce and social media, it is easier than ever before for new companies to gain the attention of large numbers of customers.

Gross Domestic Product, Fourth Quarter and Annual 2018 (Initial Estimate)

Real gross domestic product (GDP) Feb 28th, increased at an annual rate of 2.6 percent in the fourth quarter of 2018, according to the “initial” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.4 percent.

Due to the recent partial government shutdown, this initial report for the fourth quarter and annual GDP for 2018 replaces the release of the “advance” estimate originally scheduled for January 30th and the “second” estimate originally scheduled for February 28th.

The Bureau emphasized that the fourth-quarter initial estimate released today is based on source data that are incomplete or subject to further revision by the source agency. Updated estimates for the fourth quarter, based on more complete data, will be released on March 28, 2019.

The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, private inventory investment, and federal government spending. Those were partly offset by negative contributions from residential fixed investment, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.

The deceleration in real GDP growth in the fourth quarter reflected decelerations in private inventory investment, PCE, and federal government spending and a downturn in state and local government spending. These movements were partly offset by an upturn in exports and an acceleration in nonresidential fixed investment. Imports increased less in the fourth quarter than in the third quarter.

Current dollar GDP increased 4.6 percent, or $233.2 billion, in the fourth quarter to a level of $20.89 trillion. In the third quarter, current-dollar GDP increased 4.9 percent, or $246.3 billion.

The price index for gross domestic purchases increased 1.6 percent in the fourth quarter, compared with an increase of 1.8 percent in the third quarter. The PCE price index increased 1.5 percent, compared with an increase of 1.6 percent. Excluding food and energy prices, the PCE price index increased 1.7 percent, compared with an increase of 1.6 percent.

Personal Income

Current-dollar personal incomeincreased $225.1 billion in the fourth quarter, compared with an increase of $190.6 billion in the third quarter. The acceleration in personal income reflected an upturn in farm proprietors’ income and accelerations in personal dividend income and personal interest income. Compensation of employees decelerated.

Disposable personal income increased $218.7 billion, or 5.7 percent, in the fourth quarter, compared with an increase of $160.9 billion, or 4.2 percent, in the third quarter. Real disposable personal income increased 4.2 percent, compared with an increase of 2.6 percent.

Personal saving was $1.06 trillion in the fourth quarter, compared with $996.0 billion in the third quarter. The personal saving rate — personal saving as a percentage of disposable personal income — was 6.7 percent in the fourth quarter, compared with 6.4 percent in the third quarter.

Updates to third quarter GDI

For the third quarter of 2018, the percent change in real GDI was revised from 4.3 percent to 4.6 percent based on newly available tabulations from the BLS Quarterly Census of Employment and Wages program.

2018 GDP

Real GDP increased 2.9 percent in 2018 (from the 2017 annual level to the 2018 annual level), compared with an increase of 2.2 percent in 2017.

The increase in real GDP in 2018 primarily reflected positive contributions from PCE, nonresidential fixed investment, exports, federal government spending, private inventory investment, and state and local government spending that were slightly offset by a small negative contribution from residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.

The acceleration in real GDP from 2017 to 2018 primarily reflected accelerations in nonresidential fixed investment, private inventory investment, federal government spending, exports, and PCE, and an upturn in state and local government spending that were partly offset by a downturn in residential investment.

Current-dollar GDP increased 5.2 percent, or $1.02 trillion, in 2018 to a level of $20.50 trillion, compared with an increase of 4.2 percent, or $778.2 billion, in 2017.

The price index for gross domestic purchases increased 2.2 percent in 2018, compared with an increase of 1.9 percent in 2017. The PCE price index increased 2.0 percent, compared with an increase of 1.8 percent. Excluding food and energy prices, the PCE price index increased 1.9 percent, compared with an increase of 1.6 percent.

During 2018 (measured from the fourth quarter of 2017 to the fourth quarter of 2018), real GDP increased 3.1 percent, compared with an increase of 2.5 percent during 2017. The price index for gross domestic purchases increased 2.1 percent during 2018, compared with an increase of 1.9 percent during 2017.