The United States is challenging China at the World Trade Organization, alleging that the Chinese government unfairly subsidizes exports in seven industries. [Reposted from the ABC News site | February 11, 2015 | Paul Wiseman] The Office of the U.S. Trade Representative said Wednesday that China designates certain export companies as “demonstration bases” that receive…
Details
WASHINGTON — An odd marriage of convenience between liberal Democrats and Tea Party Republicans is squeezing President Obama on his ambitious trade agenda, forcing the White House and top Republicans to fight a two-front war on an international economic effort the president hopes to secure before he leaves office. [Reposted from The New York Times …
Details
WASHINGTON — The United States trade deficit in December widened sharply to its highest level since 2012 as a stronger dollar appeared to suck in imports and weigh on exports. [Reposted from Reuters | February 5, 2015] The Commerce Department said on Thursday that the trade deficit jumped 17.1 percent to $46.6 billion, the largest…
Details
Trans-Pacific Partnership Barely Noticed By Weeknight News Over The Past 18 Months Weeknight television news programs have given little attention to the Trans-Pacific Partnership (TPP), a sweeping trade agreement between the United States, Canada, and 10 nations from the Asia-Pacific region. Although the nations involved in the negotiations create a huge amount of economic activity,…
Details
Asia does not do free trade, they pursue national strategies. China is first among them. We are in a global competition of national interests, but are losing because our policy leaders don’t even know the game we are in. Richard McCormack at Manufacturing & Technology News (subscription required) reports that China’s high speed rail manufacturing…
Details
Article I, Section 8 of the Constitution states: “The Congress shall have the power…to regulate commerce with foreign nations,” among other duties and responsibilities. [Reposted from Mesquite Local News | Frank Shannon | January 28, 2015] Fast Track/Trade Promotion Authority is being sought by President Obama as a means of passing new trade agreements through…
Details
The US is helping China become the next superpower. That is the conclusion of a US intelligence analyst, Michael Pillsbury, who wrote the recent book: “The Hundred-Year Marathon: China’s Secret Strategy to Replace America as the Global Superpower.” Manufacturing & Technology News (subscription required) reports: Pillsbury, who spent 40 years as a China analyst…
Details
Executive summary U.S. trade and investment agreements have almost always resulted in growing trade deficits and job losses. Under the 1993 North American Free Trade Agreement, growing trade deficits with Mexico cost 682,900 U.S. jobs as of 2010, and U.S.-Mexico trade deficits and job displacement have increased since then. [Reposted from the EPI blog | …
Details
Members of the Senate Finance Committee welcomed United States Trade Representative Michael Froman to their chamber in late January, with most members lavishing praise on him as the public persona of President’s Obama’s embrace of free trade. [Reposted from Manufacturing and Technology News | Richard McCormack | January 30, 2015] Save for a few Democrats…
Details
Roubini’s unconventional truth: The world has too much supply and not enough demand Moreover, there is still slack in real-estate markets where booms went bust (the United States, the United Kingdom, Spain, Ireland, Iceland, and Dubai). And bubbles in other markets (for example, China, Hong Kong, Singapore, Canada, Switzerland, France, Sweden, Norway, Australia, New Zealand)…
Details