Trump’s Tariffs Could Spark Trade War, Florida Chamber Warns

The statewide pro-business group warns of a negative impact on Florida as a global trade hub.

The Florida Chamber of Commerce, a statewide business group closely aligned with Gov. Rick Scott, warned Tuesday that new tariffs could spark a trade war and hurt Florida jobs and families.

President Donald Trump has proposed steel and aluminum tariffs on some of America’s closest allies, including Canada, Mexico and the European Union.

“The increasing prospect of a trade war could put Florida’s economy at risk and negatively impact consumers, families and jobs,” the Chamber warned in a statement. The group said unfair trade practices by “bad actors” are best addressed “in a targeted and focused manner.”

“Extending the tariffs to our allies and trade and investment partners is triggering harmful targeted retaliation,” the group said.

 

Read the complete article in the Tampa Bay Times’ The Buzz.

Florida Chamber of Commerce Celebrates World Trade Month

Encourages Renewal of NAFTA

 TALLAHASSEE Fla. (May 1, 2018)— The Florida Chamber of Commerce is celebrating May as World Trade Month and is reinforcing the important role global trade plays in creating jobs, growing opportunities for small businesses and increasing foreign direct investment.

Despite the flurry of trade actions on exports and imports, the Florida Chamber remains committed to Florida succeeding as a global hub for trade, in order to ensure we remain competitive in a global marketplace. Expanding rules-based trade and investment is a key engine for Florida’s growth. The Florida Chamber is actively working to advance these efforts on behalf of the business community, every day.

“Florida is not just a great place to live and do business, but has an incredibly diversified economy” said BOB GRAMMIG, Chair, Florida Chamber of Commerce and Partner, Holland & Knight. “By expanding Florida’s role as the global hub for trade and logistics, we are creating jobs, attracting and retaining talent and providing more opportunities for businesses who want to grow or expand in our state.”

The Florida Chamber of Commerce has a long-standing history of supporting free trade, expanding international trade and investment opportunities for Florida’s business community, advocating for fair and equitable market access for Florida-origin exports abroad, and eliminating barriers that are harmful to Florida’s competitiveness as a global hub for trade.

Consider the Economic Impacts of Trade in Florida:

  • Florida ranks sixth in the nation in terms of foreign direct investment employment—with foreign companies employing more than 327,000 Floridians,
  • International trade supports more than two million jobs in Florida, that’s one in five jobs,
  • International business accounts for about 17 percent of Florida’s economy, and
  • In 2017, Florida’s total merchandise trade reached $147.7 billion.

Yesterday, the Florida Chamber and Ontario Chamber of Commerce announced their partnership supporting continued cross-border trade agreements between Florida and Ontario, and encouraged the renewal of the North American Free Trade Agreement (NAFTA) during the current renegotiation process.

“With nearly 500 Canadian companies employing Floridians, it is important that we continue to maintain and expand our relationship with Ontario and Canada to fuel economic growth,” said MARK WILSON, President and CEO of the Florida Chamber of Commerce.  “The Florida Chamber is proud to join the Ontario Chamber in support of free trade and modernization and renewal of NAFTA.”

Members of the Florida Chamber of Commerce will travel to Washington, D.C., in the coming days to encourage Florida’s Congressional Delegation to support Florida job creators, and to work to ensure that trade continues to benefit the U.S. and Floridians.

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The Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations, aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.

Florida and Ontario Chambers of Commerce Call for Strengthening Cross-Border Trade

Chambers Advocate for Continued Relationship Between Florida and Ontario

 

TALLAHASSEE, Fla. (April 30, 2018)–  The Florida Chamber of Commerce (Florida Chamber), Ontario Chamber of Commerce (OCC), Canada-Tampa Bay Chamber of Commerce, and Canada-Florida Chamber of Commerce, are partnering together in support of continued cross-border trade agreements between Florida and Ontario. The chambers are actively encouraging the renewal of the North American Free Trade Agreement (NAFTA) during the current renegotiation process.

 

“With nearly 500 Canadian companies employing Floridians, it is important that we continue to maintain and expand our relationship with Ontario and Canada to fuel economic growth,” said MARK WILSON, President and CEO of the Florida Chamber of Commerce.  “The Florida Chamber is proud to join the Ontario Chamber in support of free trade and modernization and renewal of NAFTA.”

 

Florida and Ontario share a substantive, significant relationship – particularly in tourism and trade cooperation. Trade between Florida and Ontario is mutually beneficial and growing, generating $4.9 billion annually. Key sectors such as furniture, iron and steel structures, computer and computer peripherals, autos, fruit and vegetable juices, and coffee are currently at stake.

 

“As many Ontarians consider Florida their second home, we must continue to build upon the strong substantive relationship between our two jurisdictions, said ROCCO ROSSI, President and CEO of the Ontario Chamber of Commerce. “The OCC believes cross-border trade agreements and the renewal of NAFTA will continue to drive economic growth for Ontario and Florida.”

 

All organizations are urging their governments to explore opportunities to strengthen cross-border partnerships between the two regions. Continued cross-border trade benefits all parties involved, contributing to the economic prosperity of both regions.

 

What Others Are Saying:

 

“The economic and social ties between Ontario and the Tampa Bay region are long-standing and remarkable, not just during the holidays or vacation break but throughout the year.  Personal and educational visits often develop into commercial exchange; and business activities typically precede a decision to invest.  At the Canada-Tampa Bay Chamber we see this first hand.  A modernized NAFTA and a friendly regulatory environment generally are critical to continued prosperity and broader growth on a bilateral basis.”  Andrew McIntosh, President of Canada-Tampa Bay Chamber of Commerce 

 

“The Canada Florida Chamber of Commerce is excited about and supportive of the cross-border cooperation that the Florida Chamber of Commerce and the Ontario Chamber of Commerce are jointly advocating for in order to foster and promote cross border trade and investment.”  Glenn Cooper, President, Florida-Canada Chamber of Commerce

 


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Established in 1916 as Florida’s first statewide business advocacy organization, the Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as crucial to secure Florida’s future. The Florida Chamber works closely with its Florida Political Operations and the Florida Chamber Foundation. Visit www.FLChamber.com for more information. 136 South Bronough Street, Tallahassee, FL 32301

Trade Report from U.S. International Trade Commission

Shifts in U.S. Merchandise Trade, 2016 is now available on the U.S. International Trade Commission (USITC) web site.

The report focuses on changes in U.S. exports and imports with respect to ten sectors (agriculture, footwear, forestry, textiles, electronics, minerals, transport, chemicals, energy, and machinery) and bi-lateral trade with eight trading partners and/or regions (Canada, Mexico, the NAFTA area, China, the European Union, Asia, OPEC, and sub-Saharan Africa).

 

Take Aways for Top U.S Trading Partners in 2016 

European Union (EU) as a regional trading block continues to be the U.S.’s largest merchandise trade (imports + exports) partner accounting for 18.9 percent of total U.S. merchandise trade.

  • EU became the top ranking U.S. export market in 2016, surpassing Canada, which had ranked as the largest export market in 2015.
  • Leading U.S. exports to the EU included civilian aircraft, engines, and parts; medicaments (medicines); blood fractions (e.g., antiserum) and refined petroleum products
  • Leading U.S. imports were passenger motor vehicles, medicaments, blood fractions, refined petroleum products, and parts of turbojets or turbopropellers.
  • The EU was also the United States’ largest trading partner in terms of private services in 2016, accounting for 32.8 percent of total U.S. trade in private services (services exports).

 

China, for the second year in a row China remained the United States’ largest single-country trading partner based on two-way merchandise trade, accounting for 15.9 percent of total U.S. merchandise trade.

  • China was the United States’ fourth-largest single-country trading partner based on two-way services trade of $69.0 billion. U.S. services trade with China continued to increase in 2016, with particularly strong growth in U.S. exports, which resulted in a $4.2 billion increase (to $37.0 billion) in the U.S. services trade surplus with China.
  • S. merchandise trade deficit with China decreased $20.1 billion in 2016, it remained higher than that with any other trading partner.
  • Leading U.S. exports to China in 2016 were civilian aircraft, engines, and parts; soybeans; passenger motor vehicles; processors and controllers; and machines for semiconductor or integrated circuit manufacturing.
  • Leading U.S. imports from China were cellphones; portable computers and tablets; telecommunications equipment; tricycles, scooters, and related toys; and computer parts and accessories.

 

Canada was the United States’ second-largest single-country trading partner after China for the second consecutive year accounting for 14.9 percent of total U.S. merchandise trade with the world.

  • The value of U.S. merchandise trade with Canada fell 5.7 percent to $544.0 billion in 2016, U.S. exports to Canada were $266.0 billion in 2016, while U.S. merchandise imports from Canada were $278.1 billion.
  • Leading U.S. exports to Canada in 2016 included passenger motor vehicles; motor vehicles for goods transport; civilian aircraft, engines, and parts; and light petroleum oils.
  • Top U.S. imports from Canada included crude petroleum, passenger motor vehicles, natural gas, and coniferous sawn wood.
  • Canada remained the second-largest single-country U.S. trading partner for services in 2016, after the United Kingdom. Two-way services trade with Canada fell in 2016 to $83.0 billion, while the U.S. surplus in services narrowed to $24.4 billion, down 10.9 percent from $27.4 billion the year before.

Click here to visit The Florida Scorecard to Learn More About Imports and Exports in Florida.

Florida Chamber Supports Trans-Pacific Partnership American Trade Policy

> DOWNLOAD Our Letter to Congresswoman Kathy Castor

> DOWNLOAD Our Letter to Congresswoman Debbie Wasserman-Schultz

> DOWNLOAD Our Letter to Congressman Ted Yoho

 

Florida’s current business agenda puts jobs, growth and economic opportunity in the driver’s seat. Florida has been able to grow our economy exponentially due to a smart and business-friendly environment. The Florida Chamber of Commerce supports the Trans-Pacific Partnership (TPP) American trade policy as it will have a significant impact on the strength of our economy and the lives of Floridians.

The TPP agreement will provide Florida with the opportunity to increase goods and services trade with emerging markets across the globe. It will accomplish this by removing several challenges that our businesses face when they attempt to bring their goods to international markets. This monumental trade deal will create a level playing field between U.S. companies of all sizes with some of our strongest trading partners.

Florida already has good trade ties with several of the TPP countries. Florida exported $1.6 billion in goods and $3.3 billion in services in 2014 to these countries. The TPP will remove nearly 18,000 tariffs American businesses face, which will undoubtedly increase exports tot he TPP partner countries.

The U.S. Department of Commerce Bureau of Economic Analysis shows that Canadian and Japanese companies alone employed approximately 57,200 employees  in Florida in 2013. More than 1,300 Florida businesses are subsidiaries of companies based in TPP countries, serving as an important source of business investment and job creation in the state. Statewide there are nearly 942,000 jobs supported by the TPP trade in Florida.

Florida will benefit from the opportunities created by the TPP and we encourage Congress and the President to enact legislation that will implement it.

Florida’s Agriculture Industry Benefits from International Trade

FOR IMMEDIATE RELEASE
CONTACT: Edie Ousley, 850-521-1231 or 850-251-6261
eousley@flchamber.com

 

TALLAHASSEE, FL. (May 12, 2015) – Nine of the top 10 markets for Florida agricultural exports are located in the Americas, according to research from the Florida Chamber’s Global Florida Program.

“The Americas present a large portion of Florida’s international trade opportunity, especially for Florida’s agriculture industry,” said Alice Ancona, Director of Global Outreach for the Florida Chamber of Commerce. “Canada continues to be Florida’s number one destination for Florida agriculture products, while Brazil continues to rank as Florida’s top trading partner and export destination. Florida has a once in a lifetime opportunity to take advantage of changing trade routes and become the global hub for international trade.”

Florida ranks eighth in the United States for “Fresh from Florida” exports of agricultural commodities, valued at an all-time record of $4.2 billion, supporting more than 109,000 jobs and representing an economic value of more than $13 billion.

Canada also tops the list as the top international country for visitors and dollars spent in Florida- with more than $4 billion spent. Growing trade relationships with countries like Chile, Colombia, Venezuela, Argentina and Peru work to create a competitive environment for Florida’s exporters – 95 percent of which are small-to-mid-sized businesses— to grow and thrive. In fact, the Florida Chamber recently led a Florida delegation along with Lieutenant Governor Carlos Lopez-Cantera, to Peru to sign a Memorandum of Understanding (MOU) to help promote trade and investment opportunities between Peru and the United States.

The impact of international trade to Florida’s economy cannot be denied. International business and foreign direct investment accounts for approximately 17 percent of Florida’s economic activity, and directly supports more than 1 million Florida jobs. Florida is the seventh largest exporter of state-origin products with Florida-origin exports totaling more than $58.6 billion and exports from Florida supporting 275,221 U.S. jobs in 2013.

“International trade is critical not only for Florida’s overall economy, but for individual families and communities across the state, as well as visiting consumers,” said  Doug Wheeler, President and CEO, Florida Ports Council. “Increasing trade creates jobs and brings a better quality of life to our state.”

The Florida Chamber’s Global Florida Program’s mission is to educate and promote business opportunities, collaborate and advance policy initiatives in each of the four major geographic regions:  Americas, Asia Pacific, Europe and Middle East/Africa. Agriculture Commissioner Adam Putnam recently sponsored the Florida World Trade Month resolution, which was signed by Governor Scott, Attorney General Pam Bondi and CFO Jeff Atwater.

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The Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations, aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.

Did You Know Florida is the 7th Largest Exporter of State-Origin Products?

The impact Florida’s international relationships have on our economy cannot be denied. As the seventh largest exporter of state-origin products, Florida-origin exports total more than $58.6 billion and exports from Florida supported 275,221 U.S. jobs in 2013.

“Florida has come a long way in building international economic development efforts, but our work is far from over,” said Doug Davidson, Market Executive of Global Commercial Banking at Bank of America Merrill Lynch. “At Bank of America, we support the Florida Chamber Foundation’s research in trade and logistics because we know that Florida’s future lies in being globally competitive.”

International business and foreign direct investment account for approximately 17 percent of Florida’s economic activity, and directly support more than 1 million Florida jobs. But as our economy grows, Florida must also continue to diversify export destinations- one of the strategies recommended in the Florida Chamber Foundation’s Florida Trade and Logistics Study 2.0.

From the Americas and beyond, Florida is quickly becoming the hub for global trade, especially in emerging markets such as Africa, Latin America and the Middle East- where growth projections remain higher than in developed markets and where purchasing power continues to increase.

The U.S. currently has five free trade agreements in the Middle East region. U.S. free trade agreements have helped expand Florida’s export opportunities. In fact, more than one-third of Florida exports go to countries that have trade agreements with the United States.

When oil exports are excluded, Florida is the number one exporter to Central and South America, with Florida exporting more than $30 billion in goods to that region in 2014.

While Florida’s top trade partners are Brazil and Canada, many emerging countries from several regions make Florida’s top 10 importers list, such as Peru (the site of a recent Enterprise Florida economic development mission trip that was attended by Alice Ancona, Director of Global Outreach for the Florida Chamber of Commerce), United Arab Emirates and Germany.

DYK_Chart_Exporters

As global trade and economic activity expand over the coming decades, international commerce will continue to play a role as an essential driver of Florida’s future. Diversifying Florida’s export destinations is a strategic step in accomplishing this and is outlined in the Florida Chamber Foundation’s Florida Trade and Logistics Study 2.0.

Florida can create a stronger global economy and jobs for future generations through increased investment in ports and infrastructure projects and expanded export manufacturing and value-added services.

The Florida Chamber is committed to connecting Florida’s business community to global opportunities and leveraging resources and investments to maintain and expand Florida’s position as an international trade leader. The International Business Council is launching a new program to support Florida businesses as they explore opportunities to diversify into new export markets. GLOBAL FLORIDA will focus on connecting them to resources, policy initiatives and business intelligence on market trends for four of the major geographic regions of the world: Americas, Asia Pacific, Europe and Middle East/Africa.

Together we can help Florida become the number one hub for global trade. Join the state’s international business community at the Florida Chamber’s International Days – a two-day event where the top international trade and industry experts will convene to discuss topics such as export diversification.

 

Share Your Story:

Can’t make International Days? Tell us your story and why international relationships matter to Florida by contacting Alice Ancona at aancona@flchamber.com.

About the Florida Scorecard:

The Florida Scorecard, located at www.TheFloridaScorecard.com, presents metrics across Florida’s economy. Each month, the Florida Chamber Foundation produces a Scorecard Stat that takes an in-depth look at one aspect of Florida’s economy. If you would like additional information on the Weekly Scorecard Stat or on the Florida Scorecard, please contact Dr. Jerry Parrish with the Florida Chamber Foundation at 850.521.1283.

Did You Know: In 2014 More Than 97 Million Visitors Came to Florida

Florida has seen four years in a row of record tourism as millions of visitors come to enjoy our beaches, attractions and Florida’s hospitality.

Did you know:

  • Last year an estimated 97.3 million visitors from throughout the U.S. and other countries came to Florida.
  • These record breaking numbers include 11.5 million visitors from overseas and 3.8 million Canadian visitors, representing more than 10 percent of the estimated 35.5 million Canadian residents.

Increased investments in tourism marketing have led to substantial increases in overseas visitors, who stay longer and spend more in Florida than domestic visitors. Many international visitors also shop while they are in our state, spending substantial amounts on taxable goods. A recent study by the Economic and Demographic Research (EDR) office of the Florida legislature estimated that tourists paid 12.5 percent of General Revenue from Sales Taxes in the most recent fiscal year.

Chart_SalesTax

Chart Source: Return on Investment for VISIT FLORIDA. Office of Economic and Demographic Research. January 1, 2015.

The economic impact of tourists can’t be denied. Every 85 visitors to Florida creates one Florida hospitality job. Additional indirect and induced jobs are also created. For every 1,000 jobs created, only 507 of those are in traditional tourism sectors-the other 493 jobs are created in categories such as retail trade, administrative services, construction, transportation and warehousing. The estimated average salary of those jobs is $43,750.

“Florida’s investments in marketing are matched at nearly two-to-one with private-sector funds,” said Will Seccombe, CEO of VISITFLORIDA. “This successful combination creates jobs in many sectors of the Florida economy and provides substantial increases in tax revenues for our state”.

The estimated return on investment for VISITFLORIDA’s marketing was estimated by EDR to be 3.2 dollars for every state dollar invested. This means that for every public dollar spent on tourism marketing, $3.20 was returned to the state in the form of tax collection. 

Share Your Story:

Tourism not only creates jobs, but it also keeps taxes Floridians low because visitors pay sales taxes, bed taxes and taxes on their activities while they are in Florida. How has your community benefitted from Florida tourism? Share your story by contacting the Florida Chamber Foundation’s Chief Economist Jerry Parrish at jparrish@flfoundation.org.

About the Florida Scorecard:

The Florida Scorecard, located at www.TheFloridaScorecard.com, presents metrics across Florida’s economy. Each month, the Florida Chamber Foundation produces a Scorecard Stat that takes an in-depth look at one aspect of Florida’s economy. If you would like additional information on the Weekly Scorecard Stat or on the Florida Scorecard, please contact Dr. Jerry Parrish with the Florida Chamber Foundation at 850.521.1283.