Key Currency Exchange Rates for Friday, 9/11/20
American Dollar to Canadian Dollar = 0.758163; American Dollar to Chinese Yuan = 0.146269; American Dollar to Euro = 1.184713; American Dollar to Japanese Yen = 0.009420; American Dollar to Mexican Peso = 0.046946.
https://www.x-rates.com/table/?from=USD&amount=1.00
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American Forest & Paper Association Applauds Initial US-EU Trade Deal
The American Forest & Paper Association (AF&PA) President and CEO Heidi Brock, representing U.S. pulp, tissue, paper, and paper-based packaging manufacturers, today issued the following statement:
“AF&PA appreciates the U.S. government’s engagement in securing an initial EU trade deal that will advance reciprocal, fair and balanced trade between our two economies. As non-tariff trade barrier negotiations continue – and to further support U.S. forest product producers' ability to continue shipping over $3.5 billion in essential products to the EU – we urge the Administration to secure a U.S. exemption from the EU Deforestation Regulation (EUDR).
“As recognized by USTR’s April National Trade Estimate Report, EUDR in its current form fails to recognize the realities of robust sustainable forest management (SFM) systems in the United States. Although the United States is not a source of global deforestation concerns, it is subject to many of the same burdensome obligations as countries with high deforestation risks. EUDR’s key compliance barrier, strict geolocation traceability, constitutes a significant non-tariff trade barrier, especially given the nature of U.S. pulp & paper supply chains.
Oil tops $75, highest since 2014 OPEC meeting that led to pump war
“Prices are being driven up by tight supply due to high production outages in Venezuela plus the cuts implemented by OPEC and Russia,” said Carsten Fritsch, analyst at Commerzbank. “What is more, demand appears robust.” The United States has until May 12 to decide whether to quit a nuclear deal with Iran and reimpose sanctions against the third-largest producer in the Organization of the Petroleum Exporting Countries, tightening global supplies. OPEC’s supply curtailments and the threat of new sanctions are occurring as demand in Asia, the biggest oil-consuming region, has risen to a record. Click Read More below for additional information.