US-China Trade Deficit Relief with | VERITY-EPEM (CHINA) Agreement

 

 

 

 

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

 

Verity:  http://verity.bz
EPEM: http://www.1p1m.cn
Press Contact press@verity.bz
Phone: 561.279.2855

VERITY | Chinese Govt | Made in USA

VERITY TRUTH MATTERS

Verity International Ltd. has executed a Monumental Strategic Partnership Agreement with China-based EPEM Electronic Technology Co., Ltd, (EPEM). EPEM is a subsidiary of the Chinese Government Commercial Network Construction and Development Center.

Office pic epem

Bejing China

This 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 this 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 examples: Made in Canada, Made in Australia, Made in Italy and many more, for import into the Chinese market to provide product transparency using Internet of Things (IoT), Blockchain and Artificial Intelligence (AI). 

Product of USA Certified Made in USA Certified Seal

Press Release Link:

Contact info:

Adam Reiser
561.279.2855
press@verity.bz
http://verity.bz

US TRADE GAP WIDENS TO $45.7 BILLION IN JANUARY

(AP) — The U.S. trade deficit rose in January as American exports fell for a fourth straight month, the Commerce Department said Friday. Read more of this post

Growing trade deficit with China cost the U.S. economy $37.0 billion in lost wages in 2011

Posted on 30 September 2013 by Ellen Croibier.

Reposted from the Economic Policy InstituteUS China trade gap

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The trade deficit with China cost the U.S. economy $37.0 billion in lost wages in 2011, a new Economic Policy Institute report finds. Annual wage losses will increase if the U.S. trade deficit with China increases, as it did in 2012. In Trading Away the Manufacturing Advantage: China Trade Drives Down U.S. Wages and Benefits and Eliminates Good Jobs for U.S. Workers, EPI Director of Trade and Manufacturing Policy Research Robert E. Scott shows that even when reemployed in non-trade industries, the 2.7 million workers displaced by the U.S. trade deficit with China lost $13,505 per worker in 2011, for a wage loss total of $37.0 billion.

Minorities, in particular, suffered large trade-related wage losses, with net wage losses totaling $10.1 billion.“The displacement of manufacturing and trade-related jobs has been extremely costly for the economy, hitting America’s working families especially hard,” said Scott. “Allowing the U.S.-China trade deficit to continue growing would eliminate many more jobs in manufacturing—a bedrock of the U.S. economy—and further erode the wages of U.S. workers.”Minority workers were particularly hard hit, suffering trade-related wage losses of $10,485 per worker in 2011. For all 958,800 minority workers displaced by growing China trade deficits, net wage losses totaled $10.1 billion per year.Average wages in manufacturing are 16.1 percent higher than average wages in the economy, and 18.4 percent higher than average wages in all other industries. The displacement of these jobs has been particularly hard on workers with a high school degree or less education. Nearly half (47.7 percent) of manufacturing workers have a high school degree or less education.

Access to employer-sponsored health insurance has also declined. More than two-thirds of manufacturing workers (67.8 percent) have employer-sponsored health insurance,15.5 percentage points more than the average “strongly attached” private-sector worker in the total workforce (only 52.3 percent of such workers have employer-sponsored health benefits).

In addition, the U.S.-China trade deficit displaced nearly 1.1 million jobs in computer and electronic equipment between 2001 and 2011, including a large number of high-wage jobs for college educated workers. 52.5 percent of workers in computer and electronics had a bachelor’s degree or more education (compared with 33.8 percent of workers in non-traded goods industries), and nearly three-fourths (74.3 percent) of the workers in this industry earned wages in the top half of the income distribution. Some of the best minority job opportunities in the country were displaced by growing trade deficits with China in the computers and electronic equipment industry between 2001 and 2011. The loss of more than 1 million jobs in computers and electronic equipment between 2001 and 2011 eliminated a net 369,000 good minority jobs (34.7 percent of the jobs displaced in this industry). This was 2.5 percentage points more than the minority share of total U.S. employment (32.2%).

Scott said, “At a time when we are still digging our way out of the recession and good jobs with fair wages are hard to find, policymakers should eliminate China’s currency manipulation and other unfair trade practices, which will greatly reduce the trade deficit and will support creation of millions of good {or: U.S.} jobs in the United States.”

To learn more about Made in USA Certification please visit our website: www.USA-C.com

Made in USA Certified

 

Treasury: China Isn’t Currency Manipulator Under US Law

China isn’t a currency manipulator under U.S. law, though the yuan “remains significantly undervalued” and needs to rise further, the Treasury Department said.

China “has substantially reduced the level of official intervention in exchange markets since the third quarter of 2011,” the Treasury said in a statement accompanying its semi- annual currency report to Congress yesterday. The yuan has gained 9.3 percent in nominal terms and 12.6 percent in real terms against the dollar since June 2010, the Treasury said.

“It appears that the strategy of the last two administrations to use diplomacy rather than confrontation in dealing with the yuan’s value is having some positive results,” William Reinsch, president of the National Foreign Trade Council, a Washington-based business group, said in an e-mail after the report. “There is clearly room for further appreciation, however.”

In declining to brand China a manipulator, the Treasury cited the reduced intervention and “steps to liberalize controls on capital movements, as part of a broader plan to move to a more flexible exchange-rate regime.” The U.S. hasn’t designated another nation since 1994, when it named China.

Critics of China’s exchange-rate policies, including former Republican presidential candidate Mitt Romney, say the nation deliberately suppresses the value of its currency, making its goods cheaper in overseas markets and costing jobs in the U.S.

Same Rules

“This report all but admits China’s currency is being manipulated, but stops short of saying so explicitly,” U.S. Senator Charles Schumer, a New York Democrat, said in a statement. “The formal designation matters because there can be no penalties without it. It’s time for the Obama administration to rip off the Band-Aid, and force China to play by the same rules as all other countries.”

Read more of this post

FDA Says Brazil’s Orange Juice Is Safe, But Still Illegal

 

Antonio Scorza/AFP/Getty Images Oranges for sale at a market in Rio de Janeiro.

Antonio Scorza/AFP/Getty Images Oranges for sale at a market in Rio de Janeiro.

NPR      by DAN CHARLES  February 22, 2012

If you happen to notice sometime later this year that you’re suddenly paying a lot more for orange juice, you can blame America’s food safety authorities. The U.S. Food and Drug Administration, after several weeks of deliberation, has blocked imports of frozen, concentrated orange juice from Brazil, probably for the next 18 months or so, even though the agency says the juice is perfectly safe.

The FDA’s explanation is that its hands are legally tied. Its tests show that practically all concentrated juice from Brazil currently contains traces of the fungicide carbendazim, first detected in December by Coca-Cola, maker of Minute Maid juices. The amounts are small — so small that the U.S. Environmental Protection Agency says no consumers should be concerned.

The problem is, carbendazim has not been used on oranges in the U.S. in recent years, and the legal permission to use it on that crop has lapsed. As a result, there’s not a legal “tolerance” for residues of this pesticide in orange products. Read more of this post

How to Save U.S. Manufacturing Jobs

By Howard Wial @CNNMoney February 23, 2012: 5:34 AM ET

Howard Wial is a fellow for the Brookings Institution Metropolitan Policy Program.

At first glance, manufacturing jobs would appear to be a dying breed.

The United States lost 6 million manufacturing jobs between early 2001 and late 2009. And despite small gains during the last two years, the trend in manufacturing employment for the last 30 years has been downward.

That has led some to argue that long-term job loss in the industry is inevitable. But our research shows otherwise.

There are two common versions of the “inevitability” argument. One holds that U.S. manufacturing wages are too high to be internationally competitive. The other maintains that manufacturing job losses are the result of productivity growth. Both arguments are wrong. Read more of this post

This Column Was 100% Made in America

A Hyundai ad that ran during Super Bowl coverage showed workers from the company's plant in Montgomery, Ala.

A Hyundai ad that ran during Super Bowl coverage showed workers from the company's plant in Montgomery, Ala.

By   Published: February 15, 2012

BLUE-COLLAR workers in fields like manufacturing — particularly when they make products on American soil — are again becoming a favorite subject for white-collar workers on Madison Avenue.

The trend was born of the economic worries that followed the financial crisis in 2008. Recently, it is gaining steam — appropriate, since the ads often use blasts of steam to signal something is being built — with proposals in Washington to offer incentives to encourage the location or relocation of factories in the United States.

“We continue to see very heavy emotional response to anything that would leverage against the bad economy,” said Robert Passikoff, president at Brand Keys, a brand and customer-loyalty consulting company in New York. Read more of this post

Obama Takes Fresh Aim at China, Touts “Insourcing”

 

ReutersBy Laura MacInnis | Reuters

MILWAUKEE (Reuters) – President Barack Obama kept up his attack on Chinese trade practices during a campaign-style visit on Wednesday to a Midwest factory, where his call to bring jobs back home was intended to resonate with voters in an election year.

The day after meeting China’s leader-in-waiting, Vice President Xi Jinping, at the White House, Obama cited America’s chief rival a number of times in a speech to promote the potential of “insourcing” jobs back to America from overseas.

“I will not stand by when our competitors don’t play by the rules,” he told workers at Master Lock, a company he lauded in his State of the Union address last month for having moved back about 100 union jobs from China since mid-2010.

“That’s why I directed my administration to create a Trade Enforcement Unit with one job: investigating unfair trade practices in countries like China,” he said in prepared remarks.

Obama took a firm line over trade on Tuesday during his Oval Office meeting with Xi, who is in line to assume the Chinese presidency in March 2013.

This tough stance should appeal to voters in election battleground states like Wisconsin, where Beijing is often blamed for killing American jobs.

Republican presidential hopeful Mitt Romney, a former private equity executive, accuses Obama of being too soft on China and lacking the executive or other leadership experience to steer the U.S. economy toward lasting recovery.

Master Lock, a unit of Fortune Brands Home & Security, is the world’s largest manufacturer of padlocks and related products to secure homes, cars and bicycles. Its story is a positive one for Obama, who must tout his economic leadership to secure another White House term.

The firm says its Milwaukee plant is running at full capacity for the first time in 15 years – an example the White House is eager to replicate as the November 6 election nears.

“They’re deciding that if the cost of doing business here is no longer much different than the cost of doing business in countries like China, they’d rather place their bets on America,” said Obama.

It was his first stop in a three day campaign-style swing when the Democrat will raise funds in California and stop at aircraft manufacturer Boeing in Washington state.

How to cope with a rising China – and compete against cheap Chinese exports – is one of the toughest challenges for Obama to navigate as the election approaches, particularly as opinion polls showing rising U.S. voter frustration with the Asian economic powerhouse.

(Reporting By Laura MacInnis; Editing by Peter Cooney and Cynthia Osterman)

Can Manufacturing Jobs Come Back? What We Should Learn From Apple and Foxconn

business
The Huffington Post

David Paul – President, Fiscal Strategies Group  –  Posted: 02/13/2012 8:30 am

Apple aficionados suffered a blow a couple of weeks ago. All of those beautiful products, it turns out, are the product of an industrial complex that is nothing if not one step removed from slave labor.

But of course there is nothing new here. Walmart has long prospered as a company that found ways to drive down the cost of stuff that Americans want. And China has long been the place where companies to go to drive down cost.

For several decades, dating back to the post World War II years, relatively unfettered access to the American consumer has been the means for pulling Asian workers out of deep poverty. Japan emerged as an industrial colossus under the tutelage of Edward Deming. The Asian tigers came next. Vietnam and Sri Lanka have nibbled around the edges, while China embraced the export-led economic development model under Deng Xiaoping.

While Apple users have been beating their breasts over the revelations of labor conditions and suicides that sullied their glass screens, the truth is that Foxconn is just the most recent incarnation of outsourced manufacturing plants — textiles and Nike shoes come to mind — where working conditions are below American standards. Read more of this post

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