World Trade Center-Kansas City News: June 2024
A LETTER FROM THE DIRECTOR
Happy June from World Trade Center – Kansas City. The LGBTQ+ community is an integral part of the international trade ecosystem. We are proud to celebrate Pride Month by recognizing the impact the LGBTQ+ community has on Kansas City and by providing resources to help our LGBTQ+-owned businesses thrive. Businesses that export earn higher revenues create more jobs, pay better wages, and are less likely to go out of business. During Pride month, it is important that we ensure equity in trade and strive to make resources available, specifically to LGBTQ+ businesses, to empower them to export.
Resources:
- Mid-American LGBT Chamber of Commerce
- EXIM Bank Tools & Resources for Small Businesses
- NGLCC Supplier Diversity Initiative
As a WTC-KC client, we can create personal connections and introductions with our local representatives for organizations like EXIM Bank, the U.S. Commercial Service, and the Mid-America LGBT Chamber of Commerce. If you are an LGBTQ+-owned business needing trade assistance, please reach out to us (at any time of year)!
Events
2024 U.S.-China Agriculture Roundtable
US Heartland China Association
June 2024
Learn more
ILA Berlin Pioneering Airspace 2024
U.S Commercial Service & International Trade Administration
June 5-9, 2024
Learn more
EXIM 2024 Annual Conference
EXIM Bank
June 6-7
Register here
Managing Current Trade Trends: The Red Sea and Global Trade
International Trade Council of Greater Kansas City
June 13
Register here
Certified Global Business Professional (CGBP) training
MU International Trade Center
August 6-9
Register here
Dispatches from DC
Section 301 tariff rates are increasing this year after the completion of the U.S. Trade representative’s four year review. Increases range from 25% to 100% with the largest increases on electric vehicles, semiconductors and solar cells. All existing section 301 tariff exemptions expire on May 31, 2024. Find the full list of 2024 updates here. Section 301 tariffs fall under the “Relief from Unfair Trade Practices” and allows the U.S. to “[impose] trade sanctions on foreign countries that violate U.S. trade agreements or engage in acts that are ‘unjustifiable’ or ‘unreasonable’ and burden U.S. commerce” (Congressional Research Service).
On June 2, Claudia Sheinbaum was elected Mexico's first female president, making her the first North American female president. She will take office on October 1 from her predecessor, President Lopez Obrador. Like any nation, President Sheinbaum will face challenges upon her inauguration, but also possesses many opportunities as the U.S.'s biggest trade partner.
Mexico is becoming increasingly important to U.S. business as sanctions on China increase and many U.S. companies seek to near-shore their suppliers. Experts also see an opportunity for President Sheinbaum to prioritize the country's transition to green industry, especially given her background as a climate scientist. Read more here.
WHAT WE'RE LISTENING TO
Critical Minerals, CBAM, and AGOA
The Trade Guys
Listen here
RESOURCES
April 2024 Trade Law Update
Husch Blackwell
Learn more here
New US law doubles statute of limitations for sanctions violations
Dentons
Read here