VP Biden Travel to Japan, China & Republic of Korea

Vice President Biden travels to Japan, China and the Republic of Korea on Sunday, December 1st, and returns to the United States on Saturday, December 8th. The trip underscores the administration’s strong commitment to the rebalance, and to our enduring role as a Pacific power. It is an opportunity to give lift to our treaty alliances and to advance our very important relationship with China.

In Japan Vice President Biden plans to focus on progress towards a high standard Trans-Pacific Partnership agreement, seek further momentum on key alliance goals, and discuss a range of regional and global challenges. In Beijing, the Vice President will meet with key leaders to consult on global and regional issues of mutual interest. Finally, in Seoul, the Vice President will meet with key leaders to address bilateral, regional and global challenges, including in particular our close cooperation and coordination to address security threats.

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Vice President Biden’s Japan Itinerary

Vice President Biden meets with Japan’s Crown Prince Naruhito

Vice President Biden meets with Japanese Prime Minister Abe

Vice President Biden and Japanese Prime Minister Abe have a working dinner

Vice President Biden meets with members of the Diet, including Japanese Deputy Prime Minister Aso.

Vice President Biden attends an event with Ambassador for Global Women’s Issues Cathy Russell and Ambassador Caroline Kennedy to highlight the role of women in the Japanese economy and the reform agenda on this set of issues being pursued by the Japanese government.

Vice President Biden tours a local technology company that’s owned and run by a woman entrepreneur

Vice President Biden hosts a roundtable discussion to explore the challenges faced by women as they enter and remain in the workplace.

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U.S.-Japan Economic Harmonization Initiative

Launched in November 2010, the U.S.-Japan Economic Harmonization Initiative (EHI) is a new bilateral Initiative that aims to contribute to our countries’ economic growth by promoting cooperation to harmonize approaches that facilitate trade, address business climate and individual issues, and advance coordination on regional issues of common interest.

Click here for further information on business climate and individual issues, as well as cooperative issues, which the U.S. Government has highlighted for engagement with Japan under this Initiative.

U.S.-Japan Trade Facts

U.S. goods and services trade with Japan totaled $267 billion in 2011 (latest data available for goods and services trade combined). Exports totaled $113 billion; Imports totaled $154 billion. The U.S. goods and services trade deficit with Japan was $40 billion in 2011.

Japan is currently our 4th largest goods trading partner with $195 billion in total (two ways) goods trade during 2011. Goods exports totaled $66 billion; Goods imports totaled $129 billion. The U.S. goods trade deficit with Japan was $63 billion in 2011.

Trade in services with Japan (exports and imports) totaled $72 billion in 2011 (latest data available for services trade). Services exports were $47 billion; Services imports were $25 billion. The U.S. services trade surplus with Japan was $22 billion in 2011.

Exports

Japan was the United States’ 4th largest goods export market in 2011.

U.S. goods exports to Japan in 2011 were $66.2 billion, up 9.4% ($5.7 billion) from 2010, and up 1.4% from 2000. U.S. exports to Japan accounted for 4.5% of overall U.S. exports in 2011.

The top export categories (2-digit HS) in 2011 were: Optic and Medical Instruments ($7.7 billion), Machinery ($5.7 billion), Cereals (corn and wheat) ($5.6 billion), Electrical Machinery ($5.0 billion), and Aircraft ($4.8 billion).

U.S. exports of agricultural products to Japan totaled $14.1 billion in 2011, our 4th largest export market. Leading categories include: coarse grains ($3.9 billion), red meats (fresh/chilled/frozen) ($2.8 billion), wheat ($1.4 billion), and soybeans ($954 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Japan were $47.0 billion in 2011 (preliminary data), 5% ($2.3 billion) more than 2010 and 43% greater than 2000 levels. Other private services (business, professional, and technical services and financial services), travel, and the royalties and license fees categories accounted for most of U.S. services exports to Japan.

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Vice President Biden’s China Itinerary

Vice President Biden, Chinese President Xi, Vice President Li and Chinese Premier Li hold bilateral meets to cover the broad range of bilateral, regional and global issues.

Vice President Biden holds high-level, personal engagement between the top leaderships of our two countries that is an essential part of advancing the U.S.-China relationship in the 21st century that continues the progress that President Obama and President Xi started at Sunnylands, California and the 2013 G20.

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U.S.-China Trade Facts

U.S. goods and services trade with China totaled $539 billion in 2011. Exports totaled $129 billion; Imports totaled $411 billion. The U.S. goods and services trade deficit with China was $282 billion in 2011.

China is currently our 2nd largest goods trading partner with $503 billion in total (two ways) goods trade during 2011. Goods exports totaled $104 billion; Goods imports totaled $399 billion. The U.S. goods trade deficit with China was $295 billion in 2011.

Trade in services with China (exports and imports) totaled $36 billion in 2011 (preliminary data). Services exports were $25 billion; Services imports were $11 billion. The U.S. services trade surplus with China was $13 billion in 2011.

Exports

China was the United States= 3rd largest goods export market in 2011.

U.S. goods exports to China in 2011 were $103.9 billion, up 13.1% ($12.0 billion) from 2010, and up 539% from 2000. It is up 442% since 2001 (when China entered the WTO). U.S. exports to China accounted for 7.0% of overall U.S. exports in 2011.

The top export categories (2-digit HS) in 2011 were: Machinery ($12.2 billion), Miscellaneous Grain, Seed, Fruit (soybeans) ($10.7 billion), Electrical Machinery ($10.1 billion), Vehicles ($6.8 billion), and Aircraft ($6.4 billion).

U.S. exports of agricultural products to China totaled $18.9 billion in 2011, the 2nd largest U.S. Ag export market. Leading categories include: soybeans ($10.5 billion), cotton ($2.6 billion), hides and skins ($1.2 billion), and coarse grains ($843 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to China were $24.7 billion in 2011, (preliminary data), 17% ($3.6 billion) more than 2010 and 393% greater than 2000. It is up 357% since 2001. Other private services (business, professional and technical services and education services), travel, and the royalties and license fees categories accounted for most of U.S. services exports to China.

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Vice President Biden’s Korea Itinerary

Vice President Biden meets with South Korean President Park and South Korean Prime Minister Jong.

Vice President Biden delivers the keynote address at Yonsei University on the U.S.-Korea relationship, which celebrated its 60th anniversary of the alliance this year, as well as on the U.S. approach and policy towards the Asia Pacific at large.

Vice President Biden meets with both of our countries’ troops and to receive a briefing on security on the peninsula.

Vice President Biden lays a wreath at a cemetery honoring those Americans who gave their lives six decades ago to help secure a free and democratic South Korea.

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New Opportunities for U.S. Exporters Under the U.S.-Korea Trade Agreement

The entry into force of the U.S.-Korea Free Trade Agreement on March 15, 2012 means countless new opportunities for U.S. exporters to sell more Made-in-America goods, services, and agricultural products to Korean customers – and to support more good jobs here at home. If you’re an American exporter, here are resources to answer your questions about how the U.S.-Korea trade agreement can work for you:

• Check out the FTA Tariff Tool to find out the new tariff levels for your products, and other information about your market access under the agreement.

The United States and the Republic of Korea signed the United States-Korea Free Trade Agreement (KORUS FTA) on June 30, 2007.

U.S.-Korea Trade Facts

U.S. goods and services trade with Korea totaled $125 billion in 2011. Exports totaled $60 billion; Imports totaled $65 billion. The U.S. goods and services trade deficit with Korea was $6 billion in 2011.

Korea is currently our 7th largest goods trading partner with $100 billion in total (two ways) goods trade during 2011. Goods exports totaled $44 billion; Goods imports totaled $57 billion. The U.S. goods trade deficit with Korea was $13 billion in 2011.

Trade in services with Korea (exports and imports) totaled $25 billion in 2011 (preliminary data). Services exports were $17 billion; Services imports were $8 billion. The U.S. services trade surplus with Korea was $8 billion in 2011.

Exports

Korea was the United States= 7th largest goods export market in 2011.

U.S. goods exports to Korea in 2011 were $43.5 billion, up 12.0% ($4.7 billion) from 2010, and up 56% from 2000. U.S. exports to Korea account for 2.9% of overall U.S. exports in 2011.

The top export categories (2-digit HS) in 2011 were: Machinery ($6.1 billion), Electrical Machinery ($6.1 billion), Optic and Medical Instruments ($2.9 billion), Aircraft ($2.6 billion), and Mineral Fuel (oil) ($2.6 billion).

U.S. exports of agricultural products to Korea totaled $7.0 billion in 2011, the 5th largest U.S. Ag export market. Leading categories include: coarse grains ($1.8 billion), red meats (fresh/chilled/frozen) ($1.2 billion), hides and skins ($470 million), wheat ($466 million), and cotton ($394 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Korea were $16.8 billion in 2011 (preliminary data), 11% ($1.7 billion) more than 2010 and 143% greater than 2000 levels. Other private services (education and business, professional and technical services and education services), royalties and license fees, and the travel categories accounted for most of U.S. services exports to Korea.

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P .
Sorry but ProPresObama thread comments &
WH daily schedule not available 12/1/13 – 1/5/14

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