China’s Vice Premier Liu to sign US trade deal in Washington next week

China’s Vice Premier Liu He gestures as he arrives for U.S.-China trade negotiations in Washington, U.S., October 10, 2019. REUTERS/Yuri GripasChina’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday. Liu will visit Washington on Jan. 13-15, said Gao Feng, spokesman at the commerce ministry. The move could make it harder for Beijing to meet import commitments in a Phase


China’s Vice Premier Liu He gestures as he arrives for U.S.-China trade negotiations in Washington, U.S., October 10, 2019.
REUTERS/Yuri GripasChina’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday.
Liu will visit Washington on Jan. 13-15, said Gao Feng, spokesman at the commerce ministry.
The move could make it harder for Beijing to meet import commitments in a Phase
China’s Vice Premier Liu to sign US trade deal in Washington next week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09
Keywords: news, cnbc, companies, china, vice, quotas, states, sign, united, trump, washington, week, trade, deal, chinas, phase, gao, liu, premier


China's Vice Premier Liu to sign US trade deal in Washington next week

China’s Vice Premier Liu He gestures as he arrives for U.S.-China trade negotiations in Washington, U.S., October 10, 2019. REUTERS/Yuri Gripas

China’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday.

Liu will visit Washington on Jan. 13-15, said Gao Feng, spokesman at the commerce ministry.

Negotiating teams from both sides remain in close communication on the particular arrangements of the signing, Gao told reporters at a regular briefing.

U.S. President Donald Trump said on Dec. 31 that the Phase 1 deal with China would be signed on Jan. 15 at the White House. Trump also said he would sign the deal with “high-level representatives of China”, and that he would later travel to Beijing to begin talks on the next phase.

The United States launched a trade war against Beijing a year and half ago over allegations of unfair trade practices, such as theft of U.S. intellectual property and subsidies that unfairly benefit Chinese state-owned companies.

The Phase 1 deal reached last month is expected to cut tariffs and boost Chinese purchases of U.S. farm, energy and manufactured goods while addressing some disputes over intellectual property.

But no version of the text has been made public, and Chinese officials have yet to publicly commit to key points such as increasing imports of U.S. goods and services by $200 billion over two years.

China will not increase its annual low-tariff import quotas for corn, wheat and rice to accommodate stepped-up purchases of farm goods from the United States, senior agriculture official Han Jun said on Tuesday, according to local media group Caixin.

The move could make it harder for Beijing to meet import commitments in a Phase 1 trade deal due to be signed next week. U.S. President Donald Trump said last month the agreement would likely double China’s $24 billion in pre-trade war purchases to $40-$50 billion annually.

When asked if China would have to reduce grain imports from other countries in order to meet its U.S. commitments, Gao said that China will continue to improve the administration of tariff quotas for wheat, corn and soybeans in accordance with WTO commitments, and will make full use of quotas according to market conditions.

This is not inconsistent with expanding agricultural imports from the United States, said Gao.


Company: cnbc, Activity: cnbc, Date: 2020-01-09
Keywords: news, cnbc, companies, china, vice, quotas, states, sign, united, trump, washington, week, trade, deal, chinas, phase, gao, liu, premier


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China keeps grain import quotas unchanged despite promise to buy more American, report says

China remains vague on how much the country will increase purchases of U.S. farm goods, considered a critical part of a trade agreement with Washington. Han Jun, vice minister of agriculture and rural affairs, confirmed to Chinese financial news site Caixin that import quotas for wheat, corn and rice will not increase. “These are global quotas. We will not adjust them just for one country,” Han told Caixin, according to a CNBC translation of his Chinese-language quotes in an article published Tu


China remains vague on how much the country will increase purchases of U.S. farm goods, considered a critical part of a trade agreement with Washington.
Han Jun, vice minister of agriculture and rural affairs, confirmed to Chinese financial news site Caixin that import quotas for wheat, corn and rice will not increase.
“These are global quotas.
We will not adjust them just for one country,” Han told Caixin, according to a CNBC translation of his Chinese-language quotes in an article published Tu
China keeps grain import quotas unchanged despite promise to buy more American, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: evelyn cheng
Keywords: news, cnbc, companies, vice, despite, trade, translation, washingtonhan, report, unchanged, quotas, import, grain, keeps, country, caixin, wheat, promise, buy, vague, china, told


China keeps grain import quotas unchanged despite promise to buy more American, report says

China remains vague on how much the country will increase purchases of U.S. farm goods, considered a critical part of a trade agreement with Washington.

Han Jun, vice minister of agriculture and rural affairs, confirmed to Chinese financial news site Caixin that import quotas for wheat, corn and rice will not increase.

“These are global quotas. We will not adjust them just for one country,” Han told Caixin, according to a CNBC translation of his Chinese-language quotes in an article published Tuesday.


Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: evelyn cheng
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Poor training and quotas threaten The RealReal’s pledge of ‘no fakes’ on its site

For example, Prada handbags, wallets and pouches were sent to the authentication team, while shoes and garments were not. Our authentication team receives daily training updates to stay ahead of the latest developments from brands and counterfeiters.” The RealReal’s use of copywriters to authenticate items is not new. Emily Bobb, a former copywriter who worked at the Secaucus warehouse, said she tried her best to authenticate items, with limited training. She said only “high risk” items are sent


For example, Prada handbags, wallets and pouches were sent to the authentication team, while shoes and garments were not.
Our authentication team receives daily training updates to stay ahead of the latest developments from brands and counterfeiters.”
The RealReal’s use of copywriters to authenticate items is not new.
Emily Bobb, a former copywriter who worked at the Secaucus warehouse, said she tried her best to authenticate items, with limited training.
She said only “high risk” items are sent
Poor training and quotas threaten The RealReal’s pledge of ‘no fakes’ on its site Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: scott zamost andrea day jennifer schlesinger waverly colvill, scott zamost, andrea day, jennifer schlesinger, waverly colville, caroline skinner
Keywords: news, cnbc, companies, threaten, fakes, training, poor, team, copywriters, pledge, realreal, chanel, site, authentication, items, quotas, realreals, company, authenticate


Poor training and quotas threaten The RealReal's pledge of 'no fakes' on its site

Wendy Meltzer prides herself on knowing fashion. “I would say I’m extremely savvy,” she said. “I’m comfortable when I go to buy something, I’m getting a fair deal, if not a steal.” So she found what she thought was a perfect solution to clearing out her closets by selling her clothes and bags to The RealReal, the world’s largest marketplace for authenticated luxury consignment. But after years as a happy customer selling and buying from the company, she says she is now not only unhappy but outraged. “If your name is The RealReal, inexcusable. Don’t say you’re The RealReal with authenticators and not be able to stand behind it,” Meltzer said.

Wendy Meltzer, The RealReal Customer Source: CNBC

She is not alone. Of nearly 1,400 reviews of the company found online, the top complaints are fakes, damage and poor customer service. The complaints include wrong sizes and that the photos online were misleading because they did not match the appearance of the item. The RealReal, launched in 2011, went public this year on June 28. That day, CEO and founder Julie Wainwright said on CNBC’s “Squawk on the Street” that “every single item has already been inspected, authenticated before it gets on the site.” And in 2016, she told CNBC, “There’s no fakes on our site.” This promise is key to the brand’s identity: the idea that the company takes an extra step to ensure items are authentic. Several analysts said that its valuation could be hurt if consumers stopped trusting this promise. At the start of November, the company was valued at about $2 billion, but the shares have yet to return to the high set on the day it debuted.

The RealReal exterior Soruce: CNBC

The company’s high profile dovetails with the increasing popularity in luxury online shopping and benefits from a consumer who is more willing to buy secondhand merchandise. A report by Cowen Equity Research estimates $200 billion worth of U.S. luxury goods are available for resale, saying The RealReal is “the only platform currently that offers a vast product offering with 100% authentic luxury items.” On its Facebook page, The RealReal proclaims “with an expert behind every item, we ensure everything we sell is 100 percent real.” A CNBC investigation found real questions about that claim, after interviewing nearly three dozen former employees, speaking to unsatisfied customers around the country and obtaining an internal company document from 2018 that shows copywriters in the Secaucus, New Jersey, warehouse have been tasked with authenticating some of the items that go on The RealReal’s site. Copywriters said they had little training on how to spot fakes and were hired to write descriptions of the items to post on the website. Broadly speaking, there isn’t any formal training or certification for authenticators who handle luxury items in the industry. But those who do this type of work say fakes are becoming more and more difficult to spot. Other internal company documents clearly spell out strict quotas that employees have been expected to meet or face discipline. This means some obvious problems with merchandise can be overlooked.

‘Obviously a major error’

Meltzer said it was inexcusable that The RealReal sold her a scarf that was mislabeled. She showed CNBC the scarf from designer Loro Piana that she bought from The RealReal for $537. She said she thought she was getting a great deal because The RealReal’s listing valued the scarf at $3,325. When the scarf arrived at her home, Meltzer said she discovered the price tag attached to it belonged to a women’s coat from Loro Piana. CNBC sent the scarf to Loro Piana, which confirmed the wrong tag was attached but the scarf was authentic. After Meltzer complained, a RealReal employee admitted in a text message to her that it was “obviously a major error.” CNBC found that this was not an isolated case. In September, celebrity shoe designer Amina Muaddi called out The RealReal on her Instagram page for selling a fake shoe on the site. “I was disappointed to see a website like @therealreal selling an overpriced fake version of the shoe which I never even made in a flat version,” Muaddi wrote on her Instagram page. “I don’t want you to risk purchasing fake product.”

Cherish Garcia The RealReal Customer Soruce: CNBC

Cherish Garcia, who lives in the Philippines, was also a satisfied customer until she bought what was advertised as a Prada dress. “I was pretty excited,” Garcia said. “And then when the dress arrived, it’s like what you hear about when you order on the internet — expectation versus reality. It was a cheap-looking polyester. And the lining was cheap too. I have Prada dresses, so I know the quality.” She said TheRealReal insisted the dress was authentic. But she said she got even more suspicious when she saw a very similar dress from a lower-end brand on the site. That’s when she took her complaint to Diet Prada, a popular Instagram account that calls out fake items. The day after that was published, she said, TheRealReal offered to take back the dress. “I honestly don’t think that dress was thoroughly checked. I think maybe they’ve just gotten too big and are not willing to put the time to really check each item,” Garcia said. CNBC made repeated requests to The RealReal for interviews with Wainwright or a company official, which were declined. After CNBC asked for specific comment about the copywriters and quotas, the company emailed a statement, which did not address those issues. The statement said, in part, “Unlike most resale companies, The RealReal takes possession of all items and physically evaluates every one to authenticate it. All items are put through a thorough, brand-specific authentication process by our trained team of luxury experts before they are accepted for consignment.”

Former employees speak out

Dozens of former employees — most who were afraid to be quoted by name — said the company’s claim of expert authentication was not accurate. Chanice Parchment said she felt it was important to speak out. “It was almost like a nightmare,” said Parchment, who worked at The RealReal for nearly 3½ years. Parchment, who described her job as a team leader tasked with spotting mistakes, said the explosive growth of the company and demands on employees made it unbearable to work there.

Chanice Parchment, Former Employee Soruce: CNBC

“In the beginning, I loved it. It was awesome,” she said. But, she said, the quotas were unreasonable and led to mistakes. “Everyone is supposed to authenticate everything at the end of the day,” she said. “That should be part of your skill, but there were certain items, like Chanel, Louis (Vuitton), Yeezy, Prada, that would go to our authentication team.” Parchment and other former employees said that copywriters, who often examined the items, did not have sufficient training to spot fakes. “It’s so much product. It’s really hard for someone to properly authenticate something when they’re not probably the best qualified to be even doing that in the first place,” she said. “And they’re being rushed to hit a goal.” An internal chart from 2018 obtained by CNBC shows which products and items were being authenticated by copywriters. For example, Prada handbags, wallets and pouches were sent to the authentication team, while shoes and garments were not. Hermes garments and shoes were being authenticated by copywriters, as were Gucci hats, scarves, belts and shoes. All Chanel went to the authentication team, but for Lady Dior it was only handbags. Some of the most counterfeited brands in the world include Chanel and Gucci, according to a 2015 World Customs Organization Report. The RealReal told CNBC that the company employs more than 100 gemologists, horologists and “brand experts on staff, as well as hundreds of additional trained authenticators. We make every effort to accurately authenticate the items we receive, arming our authenticators with tools and technology as well as authentication guides. Our authentication team receives daily training updates to stay ahead of the latest developments from brands and counterfeiters.” “Authentication is extremely complex. It’s both an art and science. We stand by our authentication process and will always work with our customers to make things right,” the company said in a statement. The RealReal said it will refund the price of an item if there is a question about its authenticity and that it has a zero-tolerance policy for counterfeiting. Asked for additional comment, Erin Santy, head of public relations, said, “What I provided is our final statement.” But Parchment said, in her experience, corrections were frequent. “I don’t think anyone had enough training at the end of the day,” Parchment said. “The fakes are getting really good. And when you have such a high volume that you have to get through and you’re worried about hitting your goal, at the end of the day, I don’t really think they cared whether it was real or not anyway.” Internal documents stated copywriters have been subject to disciplinary action if a minimum of 50% of their daily quota was not met. “It is expected that copywriters will reach their daily quota during their shift,” a document marked “updated Feb. 1, 2019” stated. “Daily quotas are set depending on the category the copywriter is in. Copywriters are expected to consistently reach their daily quotas.” In the ready-to-wear category, the daily quota was 105 items for an eight-hour shift and 131 items for a 10-hour shift. In contemporary ready-to-wear, it was 128 items for an eight-hour shift and 160 items for a 10-hour shift. The RealReal’s use of copywriters to authenticate items is not new. Greta Stehr, a former luxury manager in Los Angeles for The RealReal, said she saw that firsthand during an employee tour of the Secaucus warehouse in 2015. “The first time that I became aware of something like this happening was when we had a company tour of the Secaucus warehouse during one of our annual summits,” Stehr said. What she witnessed shocked her. “So instead of the top-tier authenticators taking a long time, a sufficient amount of time to review each piece, most pieces were being handled by the copywriters, and only very, very high-value items, it seemed, were being authenticated by the actual lead authenticators,” she said. “It was very surprising because I was under the impression, even as an employee, that every item was authenticated by an expert. And it didn’t really seem to be the case when we saw what was actually happening,” she said. Stehr compared the company’s culture to a “rat race.” “Everyone was racing around so intensely and so aggressively that it almost felt unreal,” she said. “I have never been in a corporate environment like that before.” Stehr left the company after three years to work for a competitor. The RealReal sued her, accusing her of

taking its clients, which she denies. The case was eventually settled. A former supervisor in Los Angeles, who oversaw a team of employees, confirmed that “there is a huge amount of pressure to get this stuff on the site.” Another former manager said The RealReal’s authenticity claim should be revised. “In general, I don’t think many companies can say 100%. Maybe they should switch to something else,” the former manager said, adding that copywriters should not be authenticating any items.

The thing about authentication is that there’s no formal training, so it’s kind of like the wild West in a sense. There’s not a roboticism to it. There’s some level of human error and opinion involved. Anthony Velez Owner, Bagriculture

A former senior level manager, who said he could not be identified because of his non-disclosure agreement with the company, described quotas as “benchmarks” that any company would need to set up to achieve success. The company’s goal, he said, was to have “zero fakes.” Emily Bobb, a former copywriter who worked at the Secaucus warehouse, said she tried her best to authenticate items, with limited training. “We had slideshows which helped you authenticate an item,” Bobb said. “So I would use that to kind of help me out. And I sort of had an idea of, you know, how to authenticate a handbag. So I would go in and do it myself, praying that it was authentic.” “We had such a big number to hit every single day, 10 hours a day, four days a week, you know? And it’s overwhelming. And all you focused on is, ‘I have to hit this goal, so I could be good for the month.'” “I had training. I wouldn’t say I had enough because I obviously had some bags that I published on the site that were fake,” said Bobb, who worked at The RealReal for about one year and left in August. She said a manager had alerted her to the fake items she had published. Bobb posted a photo from the CNBC interview on her Instagram account.

Emily Bobb, former employee Soruce: CNBC

Two days after the interview, she received a letter from a law firm representing The RealReal warning her that she was bound by a non-disclosure agreement she signed when she took the job. “We are aware that you have met with reporters from CNBC,” the letter dated Sept. 19 said. “We write this letter to express our concern that in the course of those interviews, you may have used and disclosed The RealReal’s highly sensitive, proprietary information you may have unlawfully taken from The RealReal.”

Chanel files lawsuit

Issues with authentication were also raised in a lawsuit filed last year by Chanel Inc. against The RealReal. In the suit, Chanel claims The RealReal has sold counterfeit Chanel handbags. “Only Chanel itself can know what is genuine Chanel,” the suit said. In a statement to CNBC, a Chanel spokesperson said, “Chanel would like to reassure its clients about the fact that they are, of course, completely free to resell, give or offer any item they have purchased at Chanel. In this precise matter, the House has brought this lawsuit to reaffirm its commitment to protect consumers seeking to purchase Chanel products.” The luxury designer said its goal was that “customers are not deceived or mislead by false marketing or advertising efforts which imply that this platform can guarantee the authenticity of Chanel products whereas several counterfeited items were available among the displayed products.” In response, The RealReal said in court documents that “Chanel’s objective is not to police the market for counterfeit goods, but rather to stifle the legitimate secondary market by harassing (The RealReal) with meritless litigation.” It also said that “bad actors sometimes try to pass off counterfeit products and TRR fights against this reality by employing a team of trained authenticators.” The case is pending in federal court in the Southern District of New York.

Chief authenticator departs

The RealReal’s chief authenticator, Graham Wetzbarger, abruptly left in October. Wetzbarger was the face of the authentication department and appeared in numerous videos on the site that explained the steps of the company’s vetting process, reassuring potential customers that all the items on the site were real. Reached by phone, Wetzbarger said in a brief conversation that his departure was unrelated to any issues with the authentication process. “I won’t discuss why I left the company,” he said. “I am working as an independent appraiser. I’m looking to see what’s next.” He also would not respond to questions about the copywriters’ duties and quotas. However, late Monday during the company’s earnings call, Wainwright acknowledged that copywriters do authenticate certain items. She said only “high risk” items are sent to the expert authentication team. This was the first time she has publicly addressed this issue.

Anthony Velez, Bagriculture Owner Soruce: CNBC


Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: scott zamost andrea day jennifer schlesinger waverly colvill, scott zamost, andrea day, jennifer schlesinger, waverly colville, caroline skinner
Keywords: news, cnbc, companies, threaten, fakes, training, poor, team, copywriters, pledge, realreal, chanel, site, authentication, items, quotas, realreals, company, authenticate


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China to scrap foreign investment quotas to attract more money into its stock, bond markets

Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China. China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital. It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China


Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China. China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital. It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China
China to scrap foreign investment quotas to attract more money into its stock, bond markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11
Keywords: news, cnbc, companies, quotas, yuan, capital, bond, investment, money, stock, attract, markets, qfii, china, investors, overseas, outflows, scrap, foreign, exchange, chinas


China to scrap foreign investment quotas to attract more money into its stock, bond markets

Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China.

China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital.

While underlining China’s thirst for overseas funding as its economy slows amid a debilitating trade war with the United States, the move also appears largely symbolic, as two-thirds of the existing quotas remain unused.

China’s State Administration of Foreign Exchange (SAFE) would remove quotas on the dollar-dominated qualified foreign institutional investor (QFII) scheme and its yuan-denominated sibling, RQFII, it said in a statement on its website.

It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China’s bond and stock markets more broadly accepted by international markets.”

The removal of quotas comes amid an escalating Sino-U.S. trade war that threatens growth in the world’s second-biggest economy.

Beijing hopes that foreign capital inflows could help to offset rising outflows and lend support to its yuan, which has dropped to its lowest levels against the U.S. dollar since the onset of the global financial crisis in 2008.

Inflows could also help bolster China’s balance of payments, as some analysts fear the country is slipping dangerously towards twin deficits in its fiscal and current accounts.

The removal “is a clear signal that policymakers want to encourage capital inflows,” wrote Win Thin, Global Head of Currency Strategy at Brown Brothers Harriman.

“The corollary is that they are still very worried about capital outflows and so will make sure to avoid any steps that might increase them,” he said.

China in January doubled the QFII quota to $300 billion, but only $111.4 billion of the limit had been used by foreign investors by the end of August.

China’s securities regulator also published draft rules earlier this year that would combine the QFII and RQFII programmes while also simplifying access for overseas investors.


Company: cnbc, Activity: cnbc, Date: 2019-09-11
Keywords: news, cnbc, companies, quotas, yuan, capital, bond, investment, money, stock, attract, markets, qfii, china, investors, overseas, outflows, scrap, foreign, exchange, chinas


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Here’s exactly how much oil OPEC members and allied nations intend to cut in 2019

Six weeks after agreeing to slash production, major oil producers are finally giving investors some clarity on exactly how much crude they’ll take off the market. OPEC on Friday released a table laying out production quotas for each of its 14 members and the 10 allied countries participating in the deal. However, over the following weeks, international benchmark Brent crude prices fell another 18 percent. The continued slide reportedly prompted OPEC to urge oil producers to publicly release thei


Six weeks after agreeing to slash production, major oil producers are finally giving investors some clarity on exactly how much crude they’ll take off the market. OPEC on Friday released a table laying out production quotas for each of its 14 members and the 10 allied countries participating in the deal. However, over the following weeks, international benchmark Brent crude prices fell another 18 percent. The continued slide reportedly prompted OPEC to urge oil producers to publicly release thei
Here’s exactly how much oil OPEC members and allied nations intend to cut in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: tom dichristopher, bloomberg, getty images
Keywords: news, cnbc, companies, slash, nations, allied, production, producers, opec, 2019, prices, cut, quotas, deal, members, intend, heres, crude, oil, weeks, exactly


Here's exactly how much oil OPEC members and allied nations intend to cut in 2019

Six weeks after agreeing to slash production, major oil producers are finally giving investors some clarity on exactly how much crude they’ll take off the market.

OPEC on Friday released a table laying out production quotas for each of its 14 members and the 10 allied countries participating in the deal. The two dozen nations agreed last month to slash a combined 1.2 million barrels per day in order to prevent a repeat of the oil glut that caused crude prices to tank from 2014 to 2016.

However, over the following weeks, international benchmark Brent crude prices fell another 18 percent. The continued slide reportedly prompted OPEC to urge oil producers to publicly release their production quotas to boost the market’s confidence in the cuts.

While oil prices have risen for the last three weeks, OPEC has nevertheless decided to publish the output levels under the deal, which runs through the first six months of 2019. The so-called OPEC+ alliance meets April 17-18 to assess the impact of the cuts.

Here’s how much each of the countries in the deal will endeavor to keep off the market:


Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: tom dichristopher, bloomberg, getty images
Keywords: news, cnbc, companies, slash, nations, allied, production, producers, opec, 2019, prices, cut, quotas, deal, members, intend, heres, crude, oil, weeks, exactly


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Melinda Gates: It’s essential the US ‘do something to accelerate women in business’

“Sometimes quotas make sense for a time, to get things going,” said Gates. “One of the countries that has the most number of women parliamentarians is Rwanda. It’s because President Kagame came in and said, ‘We will have at least 40 percent of women parliamentarians.’ Berkhemer-Credaire is also the chief executive officer at 2020 Women On Boards. Gates said that while she remains unsure of whether quotas are the way to create real progress in the U.S., “I know we need to do something to accelera


“Sometimes quotas make sense for a time, to get things going,” said Gates. “One of the countries that has the most number of women parliamentarians is Rwanda. It’s because President Kagame came in and said, ‘We will have at least 40 percent of women parliamentarians.’ Berkhemer-Credaire is also the chief executive officer at 2020 Women On Boards. Gates said that while she remains unsure of whether quotas are the way to create real progress in the U.S., “I know we need to do something to accelera
Melinda Gates: It’s essential the US ‘do something to accelerate women in business’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: harriet taylor
Keywords: news, cnbc, companies, companies, parliamentarians, california, corporate, quotas, melinda, business, owners, women, 2020, accelerate, gates, boards, way, essential


Melinda Gates: It's essential the US 'do something to accelerate women in business'

At the 3,000 largest publicly traded companies in the U.S., 84 percent of corporate board members are male, according to data collected by 2020 Women on Boards, which advocates for increasing the percentage of women on U.S. company boards to at least 20 percent by 2020. In that same group, 17 percent did not have one female director, according to research firm Equilar.

That includes 86 companies in California.

“Sometimes quotas make sense for a time, to get things going,” said Gates. “One of the countries that has the most number of women parliamentarians is Rwanda. It’s because President Kagame came in and said, ‘We will have at least 40 percent of women parliamentarians.’ They are way over that now.”

Advocacy groups behind the bill believe government-mandated quotes are the only way to go because change thusfar without them has been painfully slow.

“Women have been knocking on the doors of corporate board rooms for years — here in California, we had a resolution five years ago to urge corporations to listen to the drumbeat of the issue, but that doesn’t work,” said Betsy Berkhemer-Credaire, a corporate partner of the National Association of Women Business Owners owners, California, which co-sponsored the bill. Berkhemer-Credaire is also the chief executive officer at 2020 Women On Boards.

“Nothing works because the system is so entrenched,” she said. “It is a historic decision — not just in the state but in the influence it would have in the country.”

Gates said that while she remains unsure of whether quotas are the way to create real progress in the U.S., “I know we need to do something to accelerate women in business.”

Video by Mary Stevens .

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Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: harriet taylor
Keywords: news, cnbc, companies, companies, parliamentarians, california, corporate, quotas, melinda, business, owners, women, 2020, accelerate, gates, boards, way, essential


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Trump signs proclamation allowing targeted relief on steel, aluminum quotas

U.S. President Donald Trump has signed proclamations permitting targeted relief from steel and aluminum quotes from some countries, the U.S. Commerce Department said on Wednesday. Trump, who put in place tariffs on steel and aluminum imports in March, signed proclamations allowing relief from the quotas on steel from South Korea, Brazil and Argentina and on aluminum from Argentina, the department said in a statement. “Companies can apply for product exclusions based on insufficient quantity or q


U.S. President Donald Trump has signed proclamations permitting targeted relief from steel and aluminum quotes from some countries, the U.S. Commerce Department said on Wednesday. Trump, who put in place tariffs on steel and aluminum imports in March, signed proclamations allowing relief from the quotas on steel from South Korea, Brazil and Argentina and on aluminum from Argentina, the department said in a statement. “Companies can apply for product exclusions based on insufficient quantity or q
Trump signs proclamation allowing targeted relief on steel, aluminum quotas Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, allowing, states, tariffs, average, trump, exports, relief, aluminum, united, quota, steel, targeted, quotas, proclamation, imports, signs


Trump signs proclamation allowing targeted relief on steel, aluminum quotas

U.S. President Donald Trump has signed proclamations permitting targeted relief from steel and aluminum quotes from some countries, the U.S. Commerce Department said on Wednesday.

Trump, who put in place tariffs on steel and aluminum imports in March, signed proclamations allowing relief from the quotas on steel from South Korea, Brazil and Argentina and on aluminum from Argentina, the department said in a statement.

“Companies can apply for product exclusions based on insufficient quantity or quality available from U.S. steel or aluminum producers,” the statement said.

“In such cases, an exclusion from the quota may be granted and no tariff would be owed.”

Trump, citing national security concerns, placed tariffs of 25 percent on steel imports and 10 percent on aluminum imports.

The tariffs on steel and aluminum imports from the European Union, Canada and Mexico took effect on June 1, and Commerce Secretary Wilbur Ross said on May 31 that arrangements had been made with some countries to have non-tariff limits on their exports of the two metals to the United States.

Ross said the arrangement with South Korea was for a quota of 70 percent of average steel exports to the United States in the years 2015 to 2017.

The Brazilian government said at the time the U.S. quotas and tariffs on Brazil’s steel and aluminum exports were unjustified but that it remained open to negotiate a solution.

Brazilian semi-finished steel exports to the United States are subject to quotas based on the average for the three years from 2015 to 2017, while finished steel products will be limited to a quota of 70 percent of the average for those years.


Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, allowing, states, tariffs, average, trump, exports, relief, aluminum, united, quota, steel, targeted, quotas, proclamation, imports, signs


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US extends tariff exemptions for European Union and other allies

The May 1 deadline for steel and aluminum tariff exemptions for U.S. allies has been extended, the White House said. Instead, the White House has decided to postpone the decision on some allies, including the European Union, for 30 days to allow further discussions. U.S. Trade Representative Robert Lighthizer is leading the process for country exemptions, except for the European Union, which Commerce Secretary Wilbur Ross is leading. The May 1 deadline on the tariff exemptions was set in a presi


The May 1 deadline for steel and aluminum tariff exemptions for U.S. allies has been extended, the White House said. Instead, the White House has decided to postpone the decision on some allies, including the European Union, for 30 days to allow further discussions. U.S. Trade Representative Robert Lighthizer is leading the process for country exemptions, except for the European Union, which Commerce Secretary Wilbur Ross is leading. The May 1 deadline on the tariff exemptions was set in a presi
US extends tariff exemptions for European Union and other allies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-30  Authors: everett rosenfeld
Keywords: news, cnbc, companies, steel, union, trade, quotas, national, exemptions, allies, reached, white, administration, aluminum, european, tariff, extends


US extends tariff exemptions for European Union and other allies

The May 1 deadline for steel and aluminum tariff exemptions for U.S. allies has been extended, the White House said.

Instead, the White House has decided to postpone the decision on some allies, including the European Union, for 30 days to allow further discussions.

Those extensions will affect the EU, Canada and Mexico. As for Argentina, Australia and Brazil, a senior White House official said agreements have been reached in principle, and they will also receive a 30-day extension so details can be finalized.

South Korea’s exemption from tariffs is permanent because it agreed to quotas as part of a new trade deal. Administration officials have asked other countries what level of quotas they would agree to.

One person briefed by the administration told CNBC: “Quotas are an active part of the discussion with every country on the exemption list.”

U.S. Trade Representative Robert Lighthizer is leading the process for country exemptions, except for the European Union, which Commerce Secretary Wilbur Ross is leading. The Department of Commerce is also spearheading the process for product exemptions. The National Security Council is overseeing the entire process.

The May 1 deadline on the tariff exemptions was set in a presidential memorandum on the topic.

Here’s the statement on the extensions:

Today, President Donald J. Trump issued two proclamations authorizing modifications of the Section 232 tariffs on steel and aluminum. The Administration has reached a final agreement with South Korea on steel imports, the outlines of which were previously announced by U.S. Trade Representative Robert Lighthizer and Republic of Korea Minister for Trade Hyun-chong Kim. The Administration has also reached agreements in principle with Argentina, Australia, and Brazil with respect to steel and aluminum, the details of which will be finalized shortly. The Administration is also extending negotiations with Canada, Mexico, and the European Union for a final 30 days. In all of these negotiations, the Administration is focused on quotas that will restrain imports, prevent transshipment, and protect the national security.

These agreements underscore the Trump Administration’s successful strategy to reach fair outcomes with allies to protect our national security and address global challenges to the steel and aluminum industries.

—CNBC’s Lori Ann LaRocco and Kayla Tausche contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-04-30  Authors: everett rosenfeld
Keywords: news, cnbc, companies, steel, union, trade, quotas, national, exemptions, allies, reached, white, administration, aluminum, european, tariff, extends


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Trump administration is likely to extend steel and aluminum tariff exemptions beyond May 1, sources say

The May 1 deadline for steel and aluminum tariff exemptions for U.S. allies is likely to be extended, according to sources who have been in discussions with the Trump administration. The extensions may vary in length for each country, based on the progress made in talks on this and other trade issues. U.S. Trade Representative Robert Lighthizer is leading the process for country exemptions, except for the European Union, which Commerce Secretary Wilbur Ross is leading. The May 1 deadline on the


The May 1 deadline for steel and aluminum tariff exemptions for U.S. allies is likely to be extended, according to sources who have been in discussions with the Trump administration. The extensions may vary in length for each country, based on the progress made in talks on this and other trade issues. U.S. Trade Representative Robert Lighthizer is leading the process for country exemptions, except for the European Union, which Commerce Secretary Wilbur Ross is leading. The May 1 deadline on the
Trump administration is likely to extend steel and aluminum tariff exemptions beyond May 1, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-27  Authors: kayla tausche, getty images
Keywords: news, cnbc, companies, sources, likely, talks, steel, aluminum, say, extension, extend, country, security, tariff, trump, administration, quotas, exemptions, trade, commerce


Trump administration is likely to extend steel and aluminum tariff exemptions beyond May 1, sources say

The May 1 deadline for steel and aluminum tariff exemptions for U.S. allies is likely to be extended, according to sources who have been in discussions with the Trump administration.

The extensions may vary in length for each country, based on the progress made in talks on this and other trade issues. For instance, Canada and Mexico would be granted an extension because they have made progress on steel and aluminum issues in NAFTA talks, which resume late next week. It’s unclear where talks with Brazil, Australia and Argentina stand.

South Korea’s exemption from tariffs is permanent because it agreed to quotas as part of a new trade deal. Administration officials have asked other countries what level of quotas they would agree to.

One person briefed by the administration told CNBC: “Quotas are an active part of the discussion with every country on the exemption list.”

U.S. Trade Representative Robert Lighthizer is leading the process for country exemptions, except for the European Union, which Commerce Secretary Wilbur Ross is leading. The Department of Commerce is also spearheading to process for product exemptions. The National Security Council is overseeing the entire process.

The May 1 deadline on the tariff exemptions was set in a presidential memorandum. An extension would be granted in that same way. The final decision on granting an extension will be up to President Donald Trump.

The USTR declined to comment. The White House, the Commerce Department and the National Security Council did not respond to requests for comment before publication.


Company: cnbc, Activity: cnbc, Date: 2018-04-27  Authors: kayla tausche, getty images
Keywords: news, cnbc, companies, sources, likely, talks, steel, aluminum, say, extension, extend, country, security, tariff, trump, administration, quotas, exemptions, trade, commerce


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Trump says considering tariffs, quotas on US steel, aluminum imports

U.S. President Donald Trump said on Tuesday that he is considering a range of options to address steel and aluminum imports that he said are unfairly hurting U.S. producers, including “tariffs and/or quotas.” Trump made his comments during a meeting with a bipartisan group of U.S. senators and representatives — some who favored curbs on imports, others who cautioned him on the impact on U.S. manufacturers. “What we’re talking about it tariffs and/or quotas,” Trump said to the group. “Part of the


U.S. President Donald Trump said on Tuesday that he is considering a range of options to address steel and aluminum imports that he said are unfairly hurting U.S. producers, including “tariffs and/or quotas.” Trump made his comments during a meeting with a bipartisan group of U.S. senators and representatives — some who favored curbs on imports, others who cautioned him on the impact on U.S. manufacturers. “What we’re talking about it tariffs and/or quotas,” Trump said to the group. “Part of the
Trump says considering tariffs, quotas on US steel, aluminum imports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-02-13  Authors: afp, getty images
Keywords: news, cnbc, companies, quotas, considering, unfairly, imports, andor, tariffs, options, aluminum, talking, united, steel, substantial, trump


Trump says considering tariffs, quotas on US steel, aluminum imports

U.S. President Donald Trump said on Tuesday that he is considering a range of options to address steel and aluminum imports that he said are unfairly hurting U.S. producers, including “tariffs and/or quotas.”

Trump made his comments during a meeting with a bipartisan group of U.S. senators and representatives — some who favored curbs on imports, others who cautioned him on the impact on U.S. manufacturers.

“What we’re talking about it tariffs and/or quotas,” Trump said to the group.

“Part of the options would be tariffs coming in. As they dump steel, they pay tariffs, substantial tariffs, which means the United States would actually make a lot of money.


Company: cnbc, Activity: cnbc, Date: 2018-02-13  Authors: afp, getty images
Keywords: news, cnbc, companies, quotas, considering, unfairly, imports, andor, tariffs, options, aluminum, talking, united, steel, substantial, trump


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