07042020Sat
Last updateFri, 03 Jul 2020 5pm

Manufacturers Urge Change in Product Safety Law

The National Association of Manufacturers this week joined a rally on Capitol Hill to urge Congress to make changes in the Consumer Product Safety Commission Improvement Act.

Along with senators, members of Congress, industry representatives and scientists, the trade group’s President John Engler on April 1 said the law caused unintended harm to consumers and businesses by applying the same criteria to a wide range of products, regardless of their intended use.

Source: Journal of Commerce

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U.S. May Lose More Jobs After Unemployment Hits 8.5%

The U.S. may suffer further job losses in the coming months after employers cut payrolls by 663,000 in March and the unemployment rate jumped to a 25-year high of 8.5 percent.

A host of companies -- from manufacturers such as Johnson Controls Inc. and Dana Holding Corp. to service providers like International Business Machines Corp. and even the U.S. Postal Service -- have announced plans to eliminate jobs in the face of depressed demand from their customers.

Source: Bloomberg

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Survey Finds Chinese Manufacturing Worsening

The contraction in China's manufacturing worsened in March, data showed Wednesday, and President Hu Jintao told a state news agency that the country's economic problems are increasing.

The purchasing managers index by brokerage CLSA Asia-Pacific Markets -- based on a survey of some 400 companies -- showed manufacturing shrank for an eighth month.

Source: Associated Press

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The Economy: Gloom on Jobs, Hope on Manufacturing

Wall Street wasn't in a jovial mood as April Fools' Day 2009 got underway. Investors were greeted by news of a much larger than anticipated decline in private payrolls in the ADP employment survey for March. The news caused some jitters about the size of U.S. job losses to be revealed in the government's employment report for March, scheduled for release on Apr. 3. It also weighed on major stock indexes, which had closed out March by posting their strongest monthly gains in six years in the previous session.

Source: Business Week

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U.S. To Fight New Types of Trade Barriers

US exports are facing a proliferation of new types of trade protection, and officials will move aggressively to remove them, the US trade representative’s office said on Tuesday.

In its annual report to Congress on trade barriers, USTR said that bans on food and biotech products and requirements to test, certify and inspect imports were all being used as tools of protectionism, and promised litigation where necessary.

Source: Financial Times

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