Vol. 2, Issue 4

Pacific NW Trade eNews Year in Review - 2019

US-China Agreement Phase One: Tariff Reductions Suspension of scheduled 12/15 tariffs of 15% on $160 billion (cell phones, laptops, toys, clothing, etc.) Cancellation of China's retaliatory tariffs, including 25% on US autos Cut the 15% Sept 1 tariffs on about $120 billion of consumer goods to 7.5%

China Purchase Increases China has agreed to buy wheat, rice, corn, energy, pork, soy beans, pharmaceuticals, and financial services at $200 billion above the 2017 annual level. Agricultural product purchases are said to target $40 billion vs. the $24 billion bought in 2017 before the Trade War. There could be challenges, however, in reaching these levels. The deal also includes articles on IP protection, currency, enforcement mechanisms, and improved access to the Chinese financial services market according to the Office of the US Trade Representative.

USMCA Replaces NAFTA Improvements include:  a new chapter on intellectual property new enforcement provisions more protection for trade secrets a new digital trade chapter

More highlights can be found at the Office of the US Trade Representative . The revised, bipartisan bill has been praised for the pressure put on trading partners to raise wages, working conditions, labor organizing rights, emissions regulation, and other commercial and industrial standards closer to US levels.

Tacoma: City for Startups Tacoma is becoming the city of choice for startups, with a growing ecosystem such as that being provided with Startup 253. Here is what they accomplished in 2019. The City of Tacoma’s "Make it Tacoma" website was another milestone for 2019.

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