Trade Correspondent, Washington DC, USA
Krista's Feed
Mar 25, 2015

U.S. business groups push for Export-Import Bank extension

By Krista Hughes

(Reuters) – U.S. business groups on Wednesday pushed
lawmakers to approve a long-term extension for the U.S.
Export-Import Bank, keeping up the pressure to defy
conservatives who want the bank to shut.

Closing the bank, which will shut on June 30 if its mandate
is not renewed, would hurt exports, said the U.S. Chamber of
Commerce, Business Roundtable, National Foreign Trade Council,
National Association of Manufacturers and 10 other industry
associations including those representing small business,
aerospace, financial services, nuclear energy and engineering

Mar 21, 2015

White House stands by pledge to end Ex-Im backing for coal plants

WASHINGTON (Reuters) – The White House said on Friday it would press ahead to end government financing for most coal-fired power plants overseas, a day after a bipartisan bill sought to overturn limits on those projects financed by the U.S. Export-Import Bank.

Lawmakers are trying to hammer out a plan to save the U.S. Export-Import Bank, which provides support for U.S. exporters and the buyers of U.S. goods, before its mandate expires on June 30.

Mar 19, 2015

‘Huge amounts’ of beef going to China despite ban: U.S. official

By P.J. Huffstutter and Krista Hughes

CHICAGO and WASHINGTON D.C. (Reuters) – “Huge amounts” of American beef are bypassing China’s import bans, a top U.S. trade official said this week, even as the Chinese government cracks down on agricultural smuggling.

The meat enters through Hong Kong, Deputy U.S. Trade Representative Robert Holleyman said at the National Lieutenant Governors Association conference on Wednesday.

Mar 19, 2015

U.S. senators launch bipartisan Export-Import Bank blueprint

WASHINGTON, March 19 (Reuters) – A bipartisan plan to save
the U.S. Export-Import Bank seeks to extend the bank’s term
until 2019, increase lending to small businesses and overturn
limits on coal-fired power plants projects, according to
documents released on Thursday.

The bill seeks a middle ground between some conservatives
who want to close the export credit agency, other Republicans
who want reforms and many Democrats who would prefer a
longer-term mandate and an expansion of the bank’s activities.

Mar 19, 2015

Senators release new Export-Import Bank blueprint

WASHINGTON (Reuters) – A bipartisan plan to save the U.S. Export-Import Bank seeks to extend the bank’s term until 2019, increase lending to small businesses and overturn limits on coal-fired power plants projects, according to documents released on Thursday.

Republican Senator Mark Kirk and Democrat Joe Manchin have been working on a bill which they described as a bid to find middle ground, given some conservatives want to close the export credit agency and many Democrats want to expand its activities.

Mar 19, 2015

U.S.-Mexico sugar pact gets U.S. trade commission okay

WASHINGTON, March 19 (Reuters) – U.S. regulators on Thursday
approved a controversial trade deal with Mexico that imposes a
quota on sugar imports and sets minimum prices, rejecting
challenges from domestic cane refiners and bringing a year-long
trade battle closer to resolution.

The decision by the U.S. International Trade Commission
paved the way for a suspension agreement between the U.S. and
Mexican governments that establishes floor values and puts a
caps on volumes for imports from Mexico.

Mar 18, 2015

Global push aims to change China’s mind on bank rules-US official

WASHINGTON, March 18 (Reuters) – The United States has
joined forces with Japan and the European Union to pressure
China on new bank cybersecurity rules that have upset foreign
companies, a senior U.S. official said on Wednesday.

Deputy Trade Representative Robert Holleyman said the United
States would keep lobbying China to put a hold on the rules,
which would force technology vendors to Chinese banks to hand
over secret source code and adopt Chinese encryption algorithms,
until there was a “satisfactory resolution.”

Mar 18, 2015

U.S., New Zealand launch challenge to Indonesian import barriers

WASHINGTON, March 18 (Reuters) – The United States and New
Zealand on Wednesday challenged Indonesia’s import restrictions
on food and other farm products, saying barriers to goods
ranging from potatoes to poultry breached international trade

Their request for a World Trade Organization dispute
settlement panel to look at the import barriers kicks off a
process that could lead to sanctions.

Mar 13, 2015

China puts tech bill that concerns West on hold: U.S. official

WASHINGTON (Reuters) – China has put a hold on a draft counter-terrorism law that would require technology firms to hand over sensitive information to government officials, a senior U.S. official said in a good sign for Western businesses who saw the rule as a major impediment to working in the world’s second largest economy.

President Barack Obama said in an interview with Reuters on March 2 that he had raised concerns about the law directly with Chinese President Xi Jinping.

Mar 12, 2015

U.S. lender Hencorp Becstone settles charges of false Ex-Im Bank claims

By Krista Hughes

(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.

    • About Krista

      "I write about trade from Washington DC, where I moved in August 2013. IN nine years with Reuters, I have written about the Latin American economy from Mexico City and European Central Bank from Frankfurt. In a previous life, I worked in Australia and covered the economy and national politics for local news agency AAP."
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