August 6, 2019 — This week, for the first time in over a decade, China’s currency fell below the psychologically important exchange rate of CNY 7.00 (USD 1.00, EUR 0.89) per U.S. dollar.
The news-making milestone will add to the pessimism in many Chinese boardrooms this summer over the long-term prospects for the country’s economy as the dispute between China and its largest customer – the United States – continues.
August 2, 2019 — U.S. President Donald Trump tweeted Thursday, 1 August, that once again a trade deal had fallen through with China, and as a result, the United States would seek to impose a 10 percent tariff on the remaining USD 300 billion (EUR 270 billion) in goods the U.S. imports from the world’s most populous country.
“We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing,” Trump stated.
August 2, 2019 — One lesser-known impact of the trade war between the United States and China is the abrupt end to reform of China’s seafood and soy trading system, which had been underway as part of a package that would also address the country’s underperforming commodities exchanges.
In the past decade, there has been discussion in China in favor of dismantling the system of state supports for the grain and oilseed sector so that prices come into line with the international market. There was also talk of a fish futures contract in Dalian and even much reported rumors of a Chinese takeover of the Chicago Stock Exchange as part of greater Chinese participation in international commodity price-setting institutions. However, all of those moves appear to be parked for now as China uses soy purchases as a weapon in its trade dispute with the U.S.
July 29, 2019 — Trump administration infighting is holding up approval of the first major U.S. offshore wind energy project, with agencies sparring over whether the proposal does enough to protect the fishing industry, according to interviews and agency documents.
The delays are a setback to President Donald Trump’s efforts to fast-track big energy infrastructure projects and could threaten the administration’s plans to launch a promising new domestic industry.
How the problem is resolved will shape the regulatory blueprint for a growing list of offshore wind developers seeking to tap in to rising U.S. demand for renewable energy, but who face objections from fishermen worried the turbines will affect commercial species or make fishing more difficult.
The Trump administration has sought to fire up development of the nascent offshore wind industry by streamlining permitting and carving out areas off the coast for leasing – part of its policy to boost domestic energy production and jobs.
Vineyard Wind, a joint venture between Copenhagen Infrastructure Partners and Avangrid Inc (AGR.N), was scheduled to begin construction this year 14 miles (23 km) off the coast of Massachusetts to power more than 400,000 homes by 2021 – making it the first large-scale offshore wind development in the United States.
July 12, 2019 — All four members of Maine’s US congressional delegation are asking president Donald Trump to personally intervene against the implementation by the National Oceanic and Atmospheric Administration (NOAA) of new lobster trap rules that they say could impose unnecessary economic hardships on harvesters in the state.
The rules, which are intended to preserve endangered North Atlantic right whales, are expected to go into effect in two years, forcing a 50% reduction in lobster trap lines. However, the members of Congress suggest in a three-page letter sent to the White House on Wednesday that “there is no credible evidence indicating the rules would have real impacts on the agencies’ stated goals”.
“Your administration has made a point of targeting regulations that you believe are ill-conceived or overly burdensome,” says the letter, signed by Democratic representatives Jared Golden and Chellie Pingree and senators Susan Collins, a Republican, and Angus King, an independent. “By applying the same logic to Maine’s lobster industry and intervening in the implementation of NOAA’s regulations on Maine lobstermen, you can prevent unfair harm to an iconic Maine industry and save many good American jobs.”
July 3, 2019 — The Environmental Protection Agency on Monday moved to ensure it has a role negotiating the terms of any permit for the massive Pebble Mine planned near Alaska’s Bristol Bay, a move that may bolster the permit’s chances of approval.
The EPA’s action comes as the U.S. Army Corps of Engineers evaluates how the proposed gold, copper and molybdenum mine would affect the region’s water, land and thriving salmon fishery. In comments filed with the Army Corps, the EPA invoked a provision in a federal clean-water law that would allow top officials from both agencies to work out disagreements over a potential mine permit.
The EPA last week decided to resume consideration of proposed water pollution restrictions that threatened the project since the Obama administration outlined the restrictions in 2014.
The EPA’s continued involvement could be welcomed by supporters of the mine, developer Pebble LP and its parent company, Northern Dynasty Minerals Ltd.
However, the EPA stressed that its action should not be viewed as a decision on the project or what to do about those five-year-old proposed restrictions. Regional EPA officials are coordinating with the Army Corps “to ensure that the EPA can continue to work with the Corps to address concerns raised during the permitting process,” the agency said in letters and formal comments made public Tuesday.
July 3, 2019 — Environmentalists and business advocates, who are often divided over issues affecting the Jersey Shore, joined together Tuesday to oppose the Trump administration’s efforts to allow drilling for oil and gas in the Atlantic Ocean.
Standing on the Pier Village boardwalk overlooking a stretch of sand filled with sunbathers and beach umbrellas, U.S. Rep. Frank Pallone Jr., D-N.J., said New Jersey residents must continue to fight efforts to open this region to oil and gas exploration.
The issue has divided President Donald J. Trump’s administration and politicians in coastal states.
Pallone said such activity would threaten $700 billion worth of coastal property in the Garden State and the half-million jobs that depend on a healthy tourism industry.
July 1, 2019 — A pair of Democratic lawmakers announced on Wednesday, 26 June, that they have filed legislation to amend the Magnuson-Stevens Act to enable the federal government to expand the scope of fishery disasters to include trade wars.
In a joint release, Oregon U.S. Senator Ron Wyden and Massachusetts U.S. Representative Seth Moulton said their bills would require the Department of Commerce to consider the economic impact the Trump Administration’s embargoes, and the retaliatory ones implemented by nations like China.
According to NOAA Fisheries website, there have been 87 fishery disasters either approved or awaiting approval since 1985.
Moulton said the ongoing trade war is taking money away from hard working fishermen and making families’ grocery bills more expensive.
“The president’s lack of strategy and the uncertainty in our local economy is the perfect storm for local fishermen who are already doing more with less,” he said. “Until the president ends his misguided trade war, Congress should step up and provide some relief.”
A number of industries have been affected by the tariffs, Wyden said, including American fisheries.
June 19, 2019 — Lobster is Maine’s top export. Like many Americans with something to sell, Maine’s trappers benefited from positive turns in China’s economic development. The movement of tens of millions of people out of poverty and into the middle class increased demand for a source of protein—and a Chinese New Year delicacy—that Maine could happily provide.
Yet in the wake of President Donald Trump’s trade war, American lobster sales to China have decreased by 70 percent. China’s 25 percent retaliatory tariff on American lobster was only the start. Beijing has actively helped Chinese grocers and restaurants by also reducing the costs of their finding new, non-American suppliers. It has cut the Chinese tariff on lobster bought from Canada, Maine’s fierce rival in the lobster business. As a result, Canada has seen its lobster exports to China nearly double. Maine may never recover its previously dominant position in this export market.
This story is not singular. Trump started the trade war by levying new taxes on $250 billion worth of Chinese exports. China retaliated both by increasing the duties Americans face and by decreasing the tariffs that confront everyone else: It has cut tariffs on thousands of products from the rest of the world’s fisheries, farmers, and firms.
June 17, 2019 — An environmental group sued the Trump administration Thursday for failing to designate critical habitat for two species of seals that rely on sea ice off Alaska’s northwest coast.
The Center for Biological Diversity sued the Department of Commerce and the National Marine Fisheries Service for not designating critical habitat for threatened ringed and bearded seals. Agency spokeswoman Julie Speegle said by email the agency does not comment on ongoing litigation.
Designation of critical habitat for a threatened species is required by the Endangered Species Act a year after a listing. Federal agencies that authorize activities such as oil drilling within critical habitat must consult with wildlife managers to determine if threatened species will be affected.
Center for Biological Diversity attorney Emily Jeffers, who drafted the lawsuit, said by phone from Oakland, California, that additional protections are needed for ringed and bearded seals, which already are losing habitat because of climate warming.
“It’s where the rubber hits the roads in terms of actual protections,” she said.
Read the full story from the Associated Press at the Courthouse News Service