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United States Trade Representative Katherine Tai Monday announced that she will host the 21st U.S.–sub-Saharan Africa Trade and Economic Cooperation Forum (AGOA Forum) in Washington, D.C., from July 24 to 26, 2024. The ministerial program will feature plenary sessions on the present and future of AGOA and U.S.–Africa trade and investment cooperation, as well as breakout sessions on various topics. It will be preceded on July 24 by a Civil Society and Organized Labor Forum and a Private Sector Forum.
Following on the June 18 Indictments of Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a Mexico-based money launderer and China-based members of a money laundering organization with criminal links to the Sinaloa Cartel Monday..
The United States is working with Chinese authorities to target illicit financing networks, including those linked to the fentanyl trade. Chinese Money Laundering Organizations are now one of the key actors laundering money professionally in the United States and worldwide, and are rapidly becoming one of the most prominent money laundering threat actors facing the U.S. financial system.
The volume of world merchandise trade turned up in the first quarter of 2024 after remaining flat throughout 2023, according to the latest trade statistics released by the WTO.
Merchandise trade …
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $75.1 billion in May, up $0.6 billion from $74.5 billion in April, revised.
May exports were $261.7 billion, $1.8 billion less than April exports. May imports were $336.7 billion, $1.2 billion less than April imports.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $0.9 billion to $100.2 billion and an increase in the services surplus of $0.3 billion to $25.1 billion.
On July 1-2, 2024, the United States and the Philippines met under the U.S.- Philippines Trade and Investment Framework Agreement (TIFA). The TIFA meeting was co-chaired by Assistant U.S. Trade Representative for Southeast Asia Sarah Ellerman and the Philippine Department of Trade and Industry Undersecretary for International Trade Group Allan Gepty.
During the TIFA meeting, the United States and the Philippines discussed a range of bilateral trade and investment issues, including agriculture, labor, government procurement, intellectual property, environment, automotive safety standards, and supply chains.
The Office of the United States Trade Representative (USTR) announced that Danielle Fumagalli will serve as Acting Assistant United States Trade Representative for Japan, Korea, and Asia-Pacific Economic Cooperation (APEC) Affairs. Ms. Fumagalli has most recently served as Deputy Assistant United States Trade Representative (DAUSTR) in the same office.
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