Chinese state entities argue they have ‘sovereign immunity’ in U.S. courts

BEIJING (Reuters) – Some Chinese state-owned entities, backed by the key government agency that oversees major state industrial companies, have adopted a controversial defense when they face U.S. lawsuits: You can’t touch us because we enjoy sovereign immunity. [Matthew Miller & Michael Martina| May 11, 2016 |Reuters] Aviation Industry Corporation of China (AVIC), China’s biggest state-owned…

Ralph Gomory: America Rethinks Free Trade

This extraordinary primary season has clearly shown that Americans, whether Democrats or Republicans, have finally rebelled against “free trade.” [Ralph Gomory| May 11, 2016 |The Huffington Post] It is high time. There is an enormous gap between free trade as it is taught in textbooks and advocated by those who benefit from it and free…

Wall St. groups threaten to sit out trade pact push

Power players in the financial services industry are threatening to sit out the push for President Obama’s Pacific Rim trade deal unless the administration addresses one of their main objections to the pact. [Vicky Needham| May 12, 2016 |The Hill] Banks, insurance companies and other financial companies oppose a provision in the 12-nation Trans-Pacific Partnership…

Sen. Franken will oppose TPP

In the coming months, Congress will likely face a vote on the Trans-Pacific Partnership, a massive trade deal covering 12 countries and 40 percent of global trade. It’s the largest trade deal the United States has ever negotiated, and would have an enormous effect on workers in every corner of the country. [Senator Franken| May 07,…

Failure of Korean Trade Deal Voids TPP

On the fourth anniversary of the Korean trade deal, its lofty promises have been revealed as putrid pie in the sky:  More jobs lost. No exports gained. [Leo Gerard| May 9, 2016 |Huffington Post] Just like NAFTA, just like China’s entry into the World Trade Organization (WTO), free traders swore that the Korean deal would…