Bilateral Trade Overview Between USA and Czech Republic
Explore the bilateral trade relationship between the USA and Czech Republic, including trade figures, commodities, and services exchanged in 2017. Gain insights into the economic ties and mutual economic relations discussed during the Territorial Workshop held in Prague on August 23, 2018.
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Territorial Workshop USA: Mutual Economic Relations Prague, August 23, 2018 NADPIS PREZENTACE (upravit v p edloze) Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade
Bilateral Trade Overview CZ-US Trade 2010 - VI. 2018 (ths. USD) 4,000,000 3,000,000 2,000,000 1,000,000 0 2014 2010 2011 2012 2013 2015 2016 2017 I-VI 2018 -1,000,000 Export Import Balance Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
Bilateral Trade Overview Commodities (2017) Export Item Import Item HS ths. USD 191 746 HS ths. USD 236 442 8411 Turbo-jets, turbo-propellers and other gas turbines 8411 Turbo-jets, turbo-propellers and other gas turbines Motor cars and other motor vehicles principally designed for the trans Powered aircraft "e.g. helicopters and aeroplanes"; spacecraft, incl. Medicaments of mxd/unmixed prods for therap/prophltc uses, in dosage Automatic data proces mach;optical reader,mach for transcribg data,etc Telephone sets, incl. telephones for cellular networks or for other wi Parts of aircraft and spacecraft of heading 8801 or 8802, n.e.s. Instruments and appliances used in medical, surgical, dental or veteri Human blood;anim blood for therap use...;antisera...;vaccine,toxin... 4011 New pneumatic tires, of rubber Parts and accessories for tractors, motor vehicles for the transport o Pumps for liquids,w/n fitted with a measuring device; liquid elevators Tubes, pipes and hollow profiles, seamless, or iron or steel Electrical apparatus for switching or protecting electrical circuits, Automatic data proces mach;optical reader,mach for transcribg data,etc Boards, panels, consoles, desks, cabinets and other bases, equipped wi Electron microscopes, proton microscopes and diffraction apparatus Electrical lighting or signalling equipment (excl. lamps of heading 85) 169 454 8703 225 988 8708 154 673 8802 223 390 8413 154 653 3004 170 936 7304 142 750 8471 109 329 8536 111 858 8517 104 170 8471 111 203 8803 85 247 8537 105 897 9018 80 655 9012 74 038 3002 74 231 8512 72 655 8542 Electronic integrated circuits; parts thereof 73 268 TOTAL (2017) TOTAL (2017) 3 741 913 3 912 567 Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
Bilateral Trade Overview Services (2017) CZ export of service to the US (2017) - TOP 15 CZ import of services from the US (2017) - TOP 15 ths. USD 336 129 242 707 139 463 114 815 88 562 88 087 56 753 56 749 55 937 38 727 36 928 32 910 31 204 26 283 23 519 1 559 908// % ths. USD 382 826 30,9 % 169 444 13,7 % 114 956 9,3 % 105 445 8,5 % 102 228 8,3 % 30 713 2,5 % 28 979 2,3 % 25 956 2,1 % 25 163 2,0 % 18 324 1,5 % 16 704 1,4 % 15 827 1,3 % 14 289 1,2 % 13 928 1,1 % 13 410 1,1 % 1 237 146// % Other IT services Other Computer Software Management consulting Research and development services Original computer software Repairs and maintenance License fees - R&D Original audio-visual TV Air freight transport Accounting and auditing services Other business services Telecommunication services Road freight transport License fees - software distribution Scientific and technical services TOTAL 21,5 % 15,6 % 8,9 % 7,4 % 5,7 % 5,6 % 3,6 % 3,6 % 3,6 % 2,5 % 2,4 % 2,1 % 2,0 % 1,7 % 1,5 % Repairs and maintenance Courier services Road freight transport Management consulting Other IT services License fees - franchising License fees - audio-visual. License fees - IPR Other business services Lawyer services Air freight transport Railway freight transport Accounting and auditing services Telecommunication services Scientific and Technology services TOTAL Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
Overview of EU/CZ-US relations Largest trade and investment partners Every day trade (goods and services) flows worth 2,9 bil. EUR EU and US are its largest investors: EU investment account for 72% of inward FDI, in stocks: 2.74 trillion US investment 2.39 trillion Preferential trade relations? No, the EU and US do not have a free trade agreement -> MFN tariffs How EU and US enhance economic relations? Transatlantic Economic Council (2007) direction of economic cooperation High Level Working Group report -> launch of Transatlantic Trade and Investment Partnership negotiations (2013-2016) Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
Current issues of EU-US trade relations Tariffs on steel and aluminium since June 1 the US applies additional tariff of 25 % on EU exports of steel and 10 % on EU exports of aluminium products based on S. 232 Trade Expantions Act 1962 Product coverage: Steel: HS 720610 - 721650, HS 721699 - 730110, HS 730210, HS 730240 - 730290, HS 730410 - 730690. Aluminium: HS 7601, HS 7604, HS 7605 to 7609, HS 7616.99.51.60, HS 7616.99.51.70 Possibility of individual exemptions upon decision of Department of Commerce Impacts: on EU level exports worth 6,4 bil. EUR, CZ exports worth 200 mil. USD EU in response adopted rebalancing measures since June 22nd additional tariffs are applied towards US imports worth 2,8 bil. EUR (http://trade.ec.europa.eu/doclib/press/index.cfm?id=1868) Ongoing investigation of imports of cars and car parts Investigation based on S. 232 Product scope and intended measures are still unknown Impacts on EU are estimated to be 52 bil. EUR*, of which 330 mil. EUR* represent CZ exports (*indirect exports are not included) Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
Deescalation of trade dispute and new chapter in EU-US relations? Trump-Juncker meeting on July 25 2018 in Washington outlines a new phase of EU-US partnership Outlines from the Joint statement: launch of work towards a bilateral tariff agreement Strengthening of strategic cooperation in the area of energy including more imports of US LNG Voluntary dialogue on regulatory cooperation Stronger cooperation on multilateral/WTO issues address unfair trading practices (IPR, forced technology transfer, SOEs, overcapacity). Leaders also agreed that no further tariffs would be applied and current tariff measures will be resolved. = No tariffs on cas and car parts And tariffs on steel and aluminium and EU retaliatory measures will be resolved Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
Representation of Czech Republic in USA Souvisej c obr zek CzechInvest West Coast Contact: Miroslav Tenkl california@czechinvest.org General Consulate in New York Contact: Karel Sm kal, commerce_newyork@mzv.cz General Consulate in Chicago Contact: Tom Trnka tomas_trnka@mzv.cz CzechInvest East Coast Contact: Jan Chmel k, newyork@czechinvet.org CzechTrade office in Chicago Contact: Jan Kubata, jan.kubata@czechtrade.cz Embassy of the Czech Republic in Washington Contact: Ji Jan ek, eco_washington@embassy.mzv.cz General Consulate in Los Angeles Contact: Marino Rada i commerce_losangeles@mzv.cz Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
Thank you for your attention Lenka Fo tov Americas Unit Ministry of Industry and Trade fortova@mpo.cz Lenka Fo tov , fortova@mpo.cz Americas Unit, Ministry of Industry and Trade Territorial Workshop USA
