G20 Summit in South Korea Split Over Geithner's Trade Plan

Photo: U.S. Secretary of the Treasury Timothy Geithner

The Group of 20 (G20), an international group of 20 national finance chiefs, are planning to meet in Gyeongju, South Korea. Bloomberg reports that the G20 are split over U.S. Treasury Secretary Timothy F. Geithner's proposed trade plan that calls for G20 members to encourage national policies that "reduce trade surpluses and deficits 'below a specified share' of their economies." Yoshihiko Noda, Japan's Financial Minister, and Rainer Bruederle, German's Economy Minister, were among the national finance ministers who reject this type of "command economy" approach, reports Bloomberg.

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ICC's Incoterms® 2010

Image: International Trade

In mid-September 2010, the International Chamber of Commerce (ICC) released its Incoterms® 2010, the 8th edition of the international standard trade terms used in global transportation documentation by freight forwarders and in international commercial sales contracts drafted by international trade lawyers. Read my article "The ICC's 2010 Revisions to International Standard Trade Terms" to learn more about some of the revisions in the ICC's Incoterms® 2010 publication and notices of upcoming seminars for practitioners.

DISCLAIMER: Because of the generality of this update, the information provided here may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. This profile may constitute attorney advertising. Prior results do not guarantee a similar outcome. Any correspondence with this blog does not constitute a client/attorney relationship. Neither the content on this blog nor transmissions between you and the blogger through this blog are intended to provide legal or other advice or to create an attorney-client relationship.