U.S. and Bolivia to Enhance Trade By Recognizing Each Other’s Alcohol Beverages Bolivia’s foreign minister, exchanged letters in Washington to start the process by U.S. to designate singani as a distinctive product of Bolivia and the South American country to designate bourbon whiskey and Tennessee whiskey as distinctive U.S. products. The U.S. Treasury is expected…
China Lowers Tax Rates On Food In Hopes Of Increasing Foreign Trade China has reduced the tax rates for multiple imported food items to promote foreign trade and fulfill local demand for products that are short in supply. Out of the total 859 imported items 80 were food and beverage related. The lower provisional tax…
Anti-Corruption Chapter Included in USMCA Anti-coruption has been addressed in the trade agreement between the US, Mexico, and Canada. The United States-Mexico-Canada Agreement (USMCA) was signed into law by President Trump on January 29, 2020 includes the first ever chapter on corruption. This new chapter represents a commitment to support each nation’s efforts to combat…
USDA Helps Hemp Producers With Insurance Programs The USDA has introduced two programs to help protect hemp producers from natural disasters. The first insurance program through Multi-Peril Crop Insurance (MPCI) provides coverage against loss of yield because of insurable causes of loss for hemp grown for fiber, grain, or Cannabidiol (CBD) oil. The Noninsured Crop…
Supply Chains Are At Risk Moving Into 2020 Incidents such as hurricanes destroying Pfizer’s facilities in Puerto Rico in 2017 which caused them to suffer approximately $195m in damage, as well as the typhoons in 2018 for Toyota and the US-China trade war in 2019 that cost around $455b highlight the importance of companies’ approach…
Kentucky Nation’s Leading Whiskey Exporter Gov. Andy Beshear announced today that Kentucky is the nation’s leading whiskey exporter, which includes bourbon and rye, according to 2019 export reports. In 2019 Kentucky exports also continued to grow reaching more than $33 billion in goods and services shipped abroad. Kentucky grew its exports by 4% over the…
LBX Donating $500 To AHA For Every Link-Belt Excavator It Sells In February The American Heart Association (AHA) is teaming up with companies in Kentucky. LBX is a leading Kentucky participant and this is their fourth year donating $500 per February sale. The company donated $48,500 in 2017; $47,500 in 2018; and $51,000 in 2019.…
UPS & SOS Partner to Help Combat Coronavirus SOS provided protective medical gear weighing more than 10,000 pounds and UPS provided the transportation to Shanghai, China in order to combat the shortage of medical supplies due to the lock-down in Wuhan and surrounding areas resulting from the coronavirus. Read the Press Release
University of Kentucky MBA Students Develop Solutions with World Trade Center Kentucky World Trade Center Kentucky (WTC-KY) has partnered with the University of Kentucky’s Gatton College of Business and Economics for the eighth year for a three day international trade training session. Students were taught about trade policy, market entry strategies, import/export transactions, business culture…
China and Coronavirus: Manufacturing Problems in Wuhan Only the Beginning Just about every factory in the great coastal manufacturing hubs of Guangdong Province and Shenzhen, the Shanghai — Suzhou — Nanjing coridor, or around Chongqing in Sichuan Province has some workers who went home to Wuhan or another contagion area for the holiday. This year…