(Editorial note: China continues to restrict its currency to a “trading band” rather than an inflexible peg.) On July 21, 2005 Chinese monetary policy makers surprised the country’s trade partners by revaluing the yuan 2.1% higher against the dollar, ending a fixed exchange-rate regime that angered officials in the U.S., Europe and Japan and…
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Twelve Democratic senators are calling on the conference committee for a pending customs and trade enforcement bill to delete proposed language that would prevent the United States from negotiating provisions on climate change in trade agreements, amid doubts that the conference will happen at all. [Reposted from Inside US Trade | July 20, 2015] In…
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IBM is advancing rapidly into new fields like data analytics, cloud computing and mobile applications. And while the technology company’s second-quarter results showed encouraging progress in those businesses, it was not enough to translate into growth for the company as a whole. [ by Steve Lohr | July 20, 2015 | NY Times ]…
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The U.S. International Trade Commission (“USITC”) made a preliminary determination of injury yesterday and said that investigations will continue on unfairly traded imports of corrosion-resistant steel from five countries. [ by Zacks Equity Research | July 17, 2015 | Zacks.com ] The USITC found reasonable indications that a barrage of subsidized imports of certain…
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Just three weeks ago, lawmakers quietly let the little-known Export-Import Bank expire, handing Republican conservatives one of their biggest victories since they took control of Congress. [Reposted from Politico | Seung Min Kim and Lauren French | July 20, 2015] But now an effort to resurrect the bank, led by Democrats and business-backed Republicans, could…
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A quote from Warren E. Buffett’s November, 2003 FORTUNE Magazine article titled America’s Growing Trade Deficit Is Selling the Nation Out From Under Us. Here’s a Way to Fix the Problem–And We Need to Do It Now., follows: [ by Hugh Campbell | July 15, 2015 | OpEdNews ] “We were taught in…
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The CPA “American Trade Hero” award, displayed in the office of Representative Tim Ryan (OH 13) CPA Awards Over 250 Members of Congress ‘Certificate for American Trade Hero’ For Supporting Jobs and Growth by Opposing Fast Track FOR IMMEDIATE RELEASE July 17, 2015 Contact: Sara Haimowitz, Development Director202 688 5145, [email protected] CPA Awards Over…
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(Editorial note: Here is an example of how one Senator has been responding in a good way regarding Fast Track. Interesting to note even though the vote is over.) EDWARD J. MARKEY MASSACHUSETTS 218 RUSSELL SENATE OFFICE BUILDINGWASHINGTON, DC 20510(202) 224-2742 United States Senate July 16, 2015 Dear Ellen: Thank you for contacting…
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Micron Technology would be a less than super deal for China. Beijing sees its reliance on foreign tech as a strategic weakness, and has already struck several small deals to bolster its own semiconductor industry. Yet a reported $23 billion purchase of the American memory-chip maker would be a much tougher proposition. [ by…
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Preventing currency manipulation should be a key goal in any future free trade agreement. As ex-Fed Chairman Paul Volcker has said: “Trade is more affected by ten minutes of movements in exchange rates than by ten years of trade negotiations.” Without free trade in currencies, free trade in goods is simply impossible. [by Rep.…
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