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WORLD
January 11, 2011 | By John M. Glionna, Los Angeles Times
Even before the deterioration last year of already tenuous relations between North and South Korea, Pyongyang was suffering from a severe foreign trade slump, analysts say. The decline in trade, attributed in large part to international sanctions over North Korea's nuclear weapons program, was the largest for the reclusive nation since 1998, according to a new report by Seoul-based Korea Finance Corp. Total North Korean trade amounted to $3.41 billion in 2009, down 10.6% from 2008, the report says.
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CALIFORNIA | LOCAL
April 10, 2013 | George Skelton, Capitol Journal
SACRAMENTO - You know things are going splendidly for a governor when he can arrange a weeklong jaunt through China and not have to pay a cent himself - or even dip into the public till. The fact that it's sort of a 75th birthday bash for Gov. Jerry Brown and that the roughly 90 invitees - mostly special interests, but also some longtime chums - are willing to pay $10,000 each, plus trans-Pacific airfare, is particularly impressive. Oh, OK, it's a "trade and investment mission.
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CALIFORNIA | LOCAL
May 27, 1989
President Bush has used welcome moderation and careful targeting in putting together a list of alleged unfair trading practices under the so-called Super 301 provisions of the new trade law adopted last year. He has, in other words, made the best of a law that could, if not used with great care, trigger trade wars. Japan's angry and stubborn response will not help matters, because it once again fails to face up to the extensive protectionism, overt and covert, that operates in Japanese markets and also fails to recognize that Bush's findings under the new law merely set the stage for negotiations.
WORLD
December 28, 2012 | By Barbara Demick, Los Angeles Times
BEIJING - Shunned by the most of the world as a pariah state, North Korea is cementing ties with its old patron, China, with trade volume between them hitting new highs, according to South Korean statistics. The trade volume in 2011 soared a record 60% to $5.63 billion and although final data is not yet available, analysts expect 2012 to be another banner year. The dramatic increase reflects a conscious decision by Beijing in 2011 to prop up its failing ally. Shortly before his death a year ago, North Korean leader Kim Jong Il made three trips to China to secure support for rebuilding his ruling Workers' Party, the equivalent of the Communist Party in China.
BUSINESS
March 12, 2001 | Stephen Gregory
The U.S. Customs Service and importers have been talking about how to expedite the processing of foreign goods entering the United States. One proposal under consideration is to give importers a month after a shipment arrives to pay entry duties and allow them up to 18 months to make any corrections on payments without penalty. On Wednesday, the Foreign Trade Assn. of Southern California invites three foreign trade experts to share their thoughts. The event is scheduled from 8 to 11 a.m.
BUSINESS
November 20, 2000
Learn the basics of foreign trade at a three-hour seminar Wednesday offered by the Los Angeles Office of International Trade. The session covers such issues as identifying products and markets, formulating a business plan, networking, import and export regulations, finance and marketing strategies. The program is scheduled to start at 8:30 a.m. at LAOIT's downtown office, 350 S. Figueroa St., Suite 172. For more information, call (213) 680-1888.
CALIFORNIA | LOCAL
May 8, 1991
Lancaster and Palmdale announced Tuesday they plan to ask the federal government to designate the land around Air Force Plant 42 as a foreign trade zone that would have customs and tax incentives to attract new industries. Officials of the two cities say they have the backing of U.S. Sen. John Seymour of California and the Antelope Valley's congressional delegation. Palmdale Mayor Pete Knight and Lancaster Councilman George Theophanis said they hope for a decision by early next year.
BUSINESS
March 13, 1998 | From Associated Press
Consumers spent with abandon in January and February as warm weather and falling interest rates gave the economy a solid push to start the year. But foreign trade, the economy's one weak spot, continued to worsen with the 1997 deficit in goods, services and investment posting the second-worst imbalance in history. Retail sales rose 0.
BUSINESS
March 3, 1989 | KIMBERLY L. JACKSON, Times Staff Writer
The premier of British Columbia formally opened Orange County's first foreign trade office Thursday, making Irvine the base from which the Canadian province will solicit Southern California trade, conventioneers and tourists. British Columbia is targeting Southern California because of its booming economy and strong high-tech and manufacturing base. Being central to Los Angeles and San Diego, Orange County is the best location to cover the entire Southern California region, trade officials said.
BUSINESS
September 14, 2000 | From Reuters
The U.S. current account deficit widened to a new record in the second quarter as imports outpaced exports, but import price rises remained muted despite the rising cost of oil, the government said Wednesday. The Commerce Department said the current account deficit, the nation's broadest measure of foreign trade, swelled 4.6% to $106.14 billion in the second quarter, surpassing the record set in the previous quarter of $101.51 billion.
BUSINESS
October 2, 2012 | By Tracy Wilkinson and Ricardo Lopez, Los Angeles Times
MEXICO CITY - Mexico and the United States are gearing for a costly showdown over fresh tomatoes - a $3.5-billion business for the two countries - in a move that could boost the fortunes of some American tomato farmers but raise prices for U.S. consumers. Growers in Florida have demanded cuts in imports from Mexico, and Washington appears inclined to support the Floridians and the few farmers from other states who have joined the complaint. That would require ending a 16-year-old trade agreement and endanger tens of thousands of jobs on both sides of the border, especially in California and other border states, advocates for the Mexican tomatoes say. It also would probably increase the cost to U.S. consumers of fresh tomatoes, though it's unclear by how much.
BUSINESS
August 9, 2012 | By Ronald D. White
California's exporters enjoyed a big month in June, posting impressive gains compared to the same month a year earlier, according to an analysis by Beacon Economics of foreign trade data released Thursday by the U.S. Commerce Department. The gains came in spite of the fact that the value of the U.S. dollar rose in comparison to other world currencies, making U.S. goods more expensive overseas, the report said. The strong showing also came even as many customers of U.S. goods were in the throes of weak economic recoveries.
BUSINESS
April 3, 2011 | By Nathaniel Popper, Los Angeles Times
Dorothy Ouma began trading foreign currencies after seeing a TV commercial touting it as a way to make extra money, something she could use as a single mother raising three children. "The ads made me think, 'This is easy,'" said Ouma, 52, an administrator with the Grand Prairie, Texas, police department. Ouma used her credit card to fund an account with an online currency broker. Within a few weeks of swapping dollars for yen and euros, she said, her $3,000 of borrowed money was gone.
BUSINESS
April 3, 2011 | By Nathaniel Popper, Los Angeles Times
Here's an example of how a currency trade might work: • A person who believes that the European economy is strengthening decides to buy euros, thinking this currency will become more valuable in relation to the dollar. • The person opens an account with one of 13 registered foreign exchange broker-dealers for home investors, downloads the dealer's proprietary trading platform onto his computer and deposits $500, typically the minimum stake. • Opening the trading platform, the customer sees that the dealer is willing to sell a euro for $1.45000.
WORLD
January 11, 2011 | By John M. Glionna, Los Angeles Times
Even before the deterioration last year of already tenuous relations between North and South Korea, Pyongyang was suffering from a severe foreign trade slump, analysts say. The decline in trade, attributed in large part to international sanctions over North Korea's nuclear weapons program, was the largest for the reclusive nation since 1998, according to a new report by Seoul-based Korea Finance Corp. Total North Korean trade amounted to $3.41 billion in 2009, down 10.6% from 2008, the report says.
BUSINESS
April 10, 2009 | E. Scott Reckard
After months of nearly unmitigated gloom, glimmers of improvement are emerging in the U.S. economy. On Thursday, retail sales figures showed that the decline in consumer spending that began with a miserable Christmas shopping season might be stabilizing. Wells Fargo & Co. surprised analysts by saying it expected to report a record first-quarter profit despite setting aside $4.6 billion for potential loan losses.
BUSINESS
September 24, 1991 | HARRY BERNSTEIN
The United States government rarely moves against its allies who flagrantly violate the rights of workers in their countries. So it came as a shock when the government wisely gave in to pressure recently and stopped promoting U.S. investments in South Korea because of blatant repression of workers there. But the opposite side of U.S. policy is evident in countries such as El Salvador, where our government is helping to finance an advertising campaign to persuade U.S.
BUSINESS
February 22, 1989 | From Times wire services
Foreign trade failed to make headway in 1988 due to production of shoddy goods, a fluctuating international economy and a failure of joint ventures to perform as expected, a newspaper said today. "Last year did not see any considerable rise in Soviet foreign trade, estimated at 132 billion rubles ($213.8 billion)," the Government Herald said.
BUSINESS
February 8, 2009
Re: David Lazarus' consumer column, "Stimulus proposal revives bad idea," Feb. 1: Kudos for the excellent article on the "buy American" provisions in the stimulus bill. As a former chair of the U.S. International Trade Commission, I know well what can happen when protectionists take control of economic policy: Less competition will lead to higher prices and lower quality. Protectionism and Buy America provisions will only exacerbate and prolong the recession. Susan Liebeler Malibu -- Lazarus fell for the usual "economist perspective" on foreign trade.
WORLD
November 5, 2007 | Edmund Sanders, Times Staff Writer
A rhythmic clamor of pounding hammers, buzzing grinders and clanging metal reverberates from the stone gateway of Eritrea's oldest open-air market. At first glance, the dusty bazaar behind downtown Asmara appears to be little more than a sprawling junkyard of rusted car parts, broken appliances and scraps of steel. But this isn't where old metal comes to die. It comes to be reborn. Used artillery shells are recast as combs for beauty salons. Empty vegetable-oil tins morph into coffee pots.
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