(Reuters) – Miami-based lender Hencorp Becstone Capital L.C.
has agreed to pay $3.8 million to settle allegations that it
made false statements and claims to obtain loan guarantees from
the Export-Import Bank, the U.S. Department of Justice said on
The DOJ said the government alleged a Peruvian-based former
Hencorp business agent created false documents to obtain Ex-Im
Bank guarantees for fake export transactions, then diverted the
funds to himself, friends and associates.
WASHINGTON (Reuters) – Law professors from around the United
States on Wednesday urged lawmakers to keep rules to protect
foreign investors out of trade pacts, warning they would give
big companies too much power.
The letter from more than 100 law professors, from schools
including Columbia and Harvard, is the latest step in a campaign
against investor-state dispute settlement, or ISDS, laws.
WASHINGTON, March 5 (Reuters) – The U.S. trade office on
Thursday urged a crackdown on website name registrars who fail
to take action against sellers of illegal goods such as
counterfeit medicines and warned that turning a blind eye puts
public safety at risk.
The U.S. Trade Representative also said it is keeping an eye
on China’s Alibaba Group Holding Ltd’s consumer
shopping website for sales of fake and pirated goods, but
refrained from putting the site back on its piracy blacklist.
WASHINGTON (Reuters) – Trade unions stepped up their
campaign against legislation to streamline the passage of trade
deals through the U.S. Congress on Wednesday, appealing to
lawmakers to oppose the plan.
Nearly 400 union members and allies descended on Capitol
Hill to meet with lawmakers on the so-called fast track
legislation that would allow Congress to set negotiating
objectives for trade deals in exchange for a yes-or-no vote,
WASHINGTON, March 3 (Reuters) – Bipartisan talks on how to
speed trade deals through the U.S. Congress are deadlocked and
legislation is unlikely to come up for debate before April, a
senior Republican senator said on Tuesday, tightening the
timeframe to finish a Pacific trade pact before the U.S.
Senate Finance Committee Chairman Orrin Hatch said talks on
the trade bill, seen as key to finalizing the 12-nation
Trans-Pacific Partnership (TPP), were “stuck” over Democratic
demands to allow unsatisfactory deals to be taken off the fast
WASHINGTON (Reuters) – Senior U.S. officials on Tuesday briefed Democrats in the House of Representatives on a Pacific trade pact, as the administration pushed to overcome skepticism about trade deals among members of President Barack Obama’s own party.
U.S. Trade Representative Michael Froman and National Economic Council Director Jeff Zients updated Democrats on negotiations on the Trans-Pacific Partnership (TPP) and plans for further meetings with lawmakers, some of those present said.
BEIJING/WASHINGTON, Feb 27 (Reuters) – China is weighing a
far-reaching counterterrorism law that would require technology
firms to hand over encryption keys and install security
“backdoors”, a potential escalation of what some firms view as
the increasingly onerous terms of doing business in the world’s
second largest economy.
A parliamentary body read a second draft of the country’s
first anti-terrorism law this week and is expected to adopt the
legislation in the coming weeks or months.
WASHINGTON, Feb 25 (Reuters) – U.S. lawmakers are drafting
battle plans to punish foreign rivals accused of currency
manipulation but a growing chorus of critics argue the battle is
already won and warn the push may derail a massive trade pact.
A bipartisan bill introduced this month and proposals from
other lawmakers seek to stop trading partners such as China and
Japan from manipulating exchange rates to make their goods
cheaper for overseas buyers.
WASHINGTON (Reuters) – U.S. senators said on Wednesday they are working on a bipartisan plan to keep the U.S. Export-Import Bank open but the treatment of coal-fired power projects is holding up a final deal.
Republican Mark Kirk and Democrat Joe Manchin said they wanted to craft a compromise to satisfy both Democrats who support the bank and Republicans who want changes.
JAKARTA/WASHINGTON (Reuters) – The United States is pressing Indonesia to relax local-content rules it believes will handicap efforts of tech firms such as Apple to expand into one of the world’s last big markets where demand for high-end smartphone has yet to really take off.
The regulation, which would come into force on Jan. 1, 2017, requires companies that sell smartphones and tablets in the fast-growing economy of 250 million people to produce 40 percent of their content locally.