Faria CEO to testify at trade hearings

WASHINGTON – Dave Blackburn, president and CEO of Thomas G. Faria Corp., will testify before the U.S.-China Economic and Security Review Commission tomorrow on behalf of Faria – a manufacturer of marine gauges – and the National Marine Manufacturers Association, regarding the damage Chinese-made counterfeit goods have on American companies, NMMA said in a recent release.

The commission was created by Congress “to monitor, investigate and submit to Congress an annual report on the national security implications of the bilateral trade and economic relationship between the U.S. and the People’s Republic of China, and to provide recommendations, where appropriate, to Congress for the legislative and regulatory action,” NMMA reported.

The hearing will help the commission better understand the impact that trade with China has on American industries, including the harm caused by the importation of counterfeit goods. Blackburn agreed to testify in order to share his company’s experience with Chinese counterfeiters and to advocate for protection from the overseas counterfeiting of trademarked goods. Reproductions of Faria gauges bearing their registered trademark have appeared in the U.S. and international markets.

“Dave Blackburn has been a powerful voice for the industry and has worked tirelessly to draw attention to this important issue,” said NMMA Vice President of Government Relations Monita Fontaine. “His efforts along with NMMA’s work in Washington will protect the boating industry and boaters alike from unscrupulous counterfeiters.”

The hearing is to be held Jan. 13 at the Bell Harbor International Conference Center in Seattle. In addition to Blackburn, witnesses will include members of Congress from Washington State, economists, university professors and representatives from the aerospace, software, agriculture and forest products sectors.

Trade deficit reaches record levels

Tomorrow’s hearing will take place after news today that the U.S. trade deficit reached an all-time high of $60.3 billion in November, reflecting record levels for imports of everything from oil and consumer goods to farm products, the Associated Press reported in a story this morning.

The Commerce Department said the November deficit was up 7.7 percent from an imbalance of $56 billion in October, which had been the previous monthly record. The new record surprised private economists, who had been forecasting a slight narrowing of the gap.

“This caught a lot of us by surprise. We had been anticipating a pull back in the November deficit because of a decline in the price of oil,” Jason Schenker, an economist at Wachovia Bank in Charlotte, N.C., told AP.

The trade deficit through November totaled $561.3 billion, well above the previous annual record of $496.5 billion set in 2003, and put the country on track to record a trade imbalance topping $600 billion when the December figures are added.

The November deficit reflected record imbalances with a number of countries including Canada, South Korea and Russia. The largest deficit was with China, although the $16.6 billion gap was down slightly from October, AP reported.

  • For more of the latest news, click here.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button