Chinese demand for imported oil, iron ore, food and other goods has cooled as economic growth slowed, falling to a five-year low of 7.3 percent in the quarter ending in September. Major markets for Chinese goods including the United States should "stage a slight recovery this year, which should provide support to Chinese exports," said Julian Evans-Pritchard of Capital Economics in a report. [...] demand in China is "likely to remain subdued" and hopes for a rebound in investment or the real estate industry "will be disappointed," said Evans-Pritchard. The gap between strong exports and weak Chinese demand meant the country's global trade surplus nearly doubled in December, expanding 94 percent over a year earlier to $49.6 billion.
The state's largest manufacturing export category was petroleum and coal products, which accounted for $60.6 billion of Texas' total goods exports in 2013. Oil refiners have been helped by cheaper crude oil flowing in from the Eagle Ford Shale and the Permian Basin. If Congress lifts an export ban on crude oil — as producers are pushing for — Texas' export sales probably would jump significantly because of booming drilling activity in its shale regions. The Obama administration will need fast-track authority for both TPP and T-TIP from Congress before either trade agreement can stand a chance for enactment. Fast-track requires Congress to take an up-or-down vote on negotiated trade agreements without amendments. After Froman's briefing to invited San Antonians on trade talks, a session closed to media coverage, San Antonio Chamber of Commerce CEO and President Richard Perez said he puts the odds of fast-track approval by the end of President Barack Obama's term at 50-50. The chamber usually communicates its policy preferences with local members of Congress, Perez said, but might begin lobbying nonlocal members when it comes to broadening U.S. trade agreements, Perez said.
Join the U.S. Department of Commerce, US-Mexico Chamber of Commerce, CMTC - California Manufacturing Technology Consulting, Tijuana Economic Development Corporation (DEITAC), and Center for International Trade Development on a trade mission to the most important manufacturing supply chain trade show in Northwest Mexico -BajaMak - which will be held in Tijuana, Mexico.
The governor's office says Cuba, now preparing for an influx of tourists with the end of U.S. trade sanctions, imports more than 80 percent of its food and needs to have long neglected infrastructure rebuilt.
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