US-China Trade Deficit Relief with | VERITY-EPEM (CHINA) Agreement
Press Release 01.08.2019 Boca Raton Florida USA, Beijing China.
VERITY International, Ltd. has recently engaged in an agreement with EPEM (1) for an exclusive provision and Agreement (2) to validate and provide custom Made in USA Certified® and Product of USA Certified® Country of Origin Labeling “COOL“ Claims for US-made products and services through industry-leading verification and validation services regarding imports into China.
Providing balance and transparency for the U.S. | China Trade deficit both Presidents U.S. Donald Trump and China Xi Jinping are working to narrow.
The Advanced Technology from this the Joint Venture will be to provide COOL verification for both import and export from the Chinese market for complete transparency using Internet of Things (IoT), Blockchain and Artificial Intelligence (AI).
(1) EPEM is a wholly owned subsidiary of the Chinese Government Commercial Network Construction and Development Center.
(2) Agreement is exclusive for verification and validation services for the official “Made in China Certified™” claim to increase the perceived quality and brand of Chinese products in the international market.
Included in agreement VERITY has an exclusive provision to provide all Country of Origin COOL verification and validation services regarding imports into China with “Made in USA and Product of USA Certified” claims, to help balance out and provide transparency for the U.S. | China Trade deficit and all COOL claims
Tags, Made in USA Certified®, Product of USA Certified®, Made in China Certified™, President Donald Trump, President Xi JinPing, U.S. China Trade Deficit
Nearly eight months after President Donald J. Trump signed his executive order “Buy American and Hire American,” an expert on certifying whether goods are made in the United States shared with Big League Politics the challenges in certification and enforcing Trump’s intentions.
A source familiar with how the White House drafted the executive order told Big League Politics: “There are zero teeth in it, you know? Let’s of fanfare, lots of publicity, back-slapping and hand-shaking with Trump–and now, it is getting resisted, like as if it meant nothing.”
According to the president’s directive, all agencies were supposed to have turned into both the Department of Commerce and the Office of Management and Budget how they plan to comply. These plans are to include, searchable databases of certified vendors, storage arrangements for the documents and simplifications of their internal procurement procedures.
Reiser said Trump’s executive order was the president’s attempt to bring federal procurement back in synch with the law.
The Buy American Act of 1933 was signed by President Herbert Hoover the day before he handed over the White House to President Franklin D. Roosevelt. The Act was championed by Rep. Joseph W. Byrne, (D.-Tenn.), then the chairman of the House Appropriations Committee and later Speaker of the House.
Byrne’s idea was that given support by the Hearst newspapers and by Hoover’s Commissioner of Customs Francis F.A. Eble, who would go on to start the Buy American Club.
“The law says that the U.S. government has to show preferential treatment to U.S. manufacturers,” Reiser said. “It is so the government has to buy from its own.”
Reiser said that from the 1970s, the federal government has been providing waivers to the 1933 law. “In the 1980s and 1990s, it has picked up big-time.”
When the president signed Executive Order 13788, the White House was optimistic.
A senior administration official speaking on background on Easter Monday, the day before the executive order was signed in the headquarters of the tool company Snap-On in Kenosha, Wisconsin, said the executive order would correct the abuse of the Buy American Act waiver process.
“Okay, so the culture immediately changes across the agencies. We have a lax enforcement, lax monitoring, lax compliance,” the official said. Continue reading “Adam Reiser: Trump administration struggles to enforce ‘Buy American’ EO 13788”
Top executives from Detroit automakers met Monday with Vice President Mike Pence and other administration officials and aired their concerns about changes the Trump administration is seeking to the North American Free Trade Agreement.
Trump has pushed for companies to construct more auto assembly plants in the U.S., while also pushing for major changes to NAFTA that the automakers oppose. U.S. negotiators have proposed significant changes to the so-called rules of origin for autos in a bid to ensure more U.S.-made parts are used in vehicles assembled in North America, a change that the auto industry has warned could undercut Trump’s America-first goals.
“We view the modernization of NAFTA as an important opportunity to update the 23-year-old agreement and set the stage for an expansion of U.S. auto exports,” Matt Blunt, a former Missouri governor who leads the American Automotive Policy Council, a trade association representing Ford Motor Co., General Motors Co., and Fiat Chrysler Automobiles NV said in a statement. “We also appreciate the opportunity to directly address the industry’s concerns with the administration’s rule of origin proposal.”
Blunt said there are other things the group would like to have added to NAFTA, including a provision to guard against currency manipulation by Mexico and Canada.
Fiat Chrysler Chief Executive Officer Sergio Marchionne, GM CEO Mary Barra and Joe Hinrichs, Ford’s president of global operations, attended the White House meeting. U.S. Trade Representative Robert Lighthizer and National Economic Council Director Gary Cohn were also scheduled to attend the meeting, Pence’s office said earlier on Monday.
President Donald Trump’s proposed border tax on products made outside of the United States but intended for American customers poses a major problem for many companies that rely on imports.
Apple Inc. AAPL investors have reason to be concerned over Trump’s proposal, but perhaps they shouldn’t be as there may be an easy solution.
Brian White, an analyst with Drexel Hamilton, was a guest on CNBC’s “Squawk Box” segment on Thursday and offered his solution. Specifically, the analyst noted that there will be a lot of pressure among American companies to bring manufacturing jobs back to the United States, and Apple could take advantage of this by selling a “Made in America” special-edition iPhone at a $100 to $200 premium.
Doing so would also alleviate some of the financial pressure associated with moving some of the production of Apple’s devices back to the States.
“If I where Apple that’s what I would do,” he continued. “I would make an entire marketing campaign — you can actually boost your margins if you did that.”
White also believes Apple should also take advantage of another Trump proposal of making it more lucrative than before to repatriate overseas cash. Apple’s cash hoard stands at more than $200 billion, and this could be used to fund domestic manufacturing and even boost the per share dividend.