Tag Archives: trade

Trump’s anti-WTO rhetoric hurts America first

Source: Reuters
by Gina Chon

“Trump’s trade chief Robert Lighthizer will emphasize national sovereignty over multilateralism at meetings in Buenos Aires this week. His push for WTO reforms and fair trade policies has tamped down expectations for this year’s gathering, when reducing agricultural subsidies is on the agenda. During his presidential campaign, Trump threatened to pull out of the WTO and has repeatedly said the United States has been treated unfairly. Yet America, the most frequent WTO complainant, has won more than 90 percent of the cases it has brought over the last 20 years.” (12/11/17)

https://www.reuters.com/article/us-trade-wto-breakingviews/breakingviews-trumps-anti-wto-rhetoric-hurts-america-first-idUSKBN1E52FE

Japan: Trump reiterates desire to screw US consumers

Source: Politico

“President Donald Trump on Monday took a shot at Japan over trade and called on the country to manufacture more cars in the United States, unleashing a direct criticism of the host country on the first leg of his 12-day tour of Asia. ‘Try building your cars in the United States instead of shipping them over,’ Trump implored during a briefing with business executives before asking, ‘That’s not rude?’ … Trump is expected to lodge similar complaints throughout the swing through Asia, which will include stops in South Korea, China, Vietnam and the Philippines.” (11/05/17)

https://www.politico.com/story/2017/11/05/trump-to-japan-make-more-cars-in-the-us-244582

Trump regime takes another shot at destroying US industries with corporate welfare

Source: Deutsche Welle [Germany]

“The US Commerce Department has said Canada unfairly subsidized the aircraft maker and announced that it will impose duties of 220 percent on every Bombardier C Series plane imported into the United States. The decision by the US Commerce Department announced on Tuesday, follows a complaint by American manufacturer Boeing, which had claimed that Bombardier unfairly benefited from state subsidies in selling its C Series aircraft below cost to Delta Airlines. … Last week, Canadian Prime Minister Justin Trudeau already threatened to call off a $5.2 billion purchase of 18 Boeing Super Hornet jet fighters from the US unless the case was dropped.” (09/27/17)

http://www.dw.com/en/us-slaps-steep-tariffs-on-canadian-planemaker-bombardier/a-40701003

China: Regime bans North Korean iron, lead, coal imports as part of UN sanctions

Source: Washington Post

“China announced a ban on imports of iron ore, iron, lead and coal from North Korea on Monday, increasing the economic pressure on the Pyongyang regime, as it moved to implement a package of sanctions put together by the U.N. Security Council. The ban will take effect from Tuesday, the Ministry of Commerce announced, although China will continue to clear goods that have already arrived in port until Sept. 5. But at the same time, Beijing warned the Trump administration not to split the international coalition over North Korea by provoking a trade war between China and the United States. The warning comes as President Trump is expected to sign an executive memorandum Monday afternoon instructing his top trade negotiator to launch an investigation into Chinese intellectual property violations, a move that could eventually result in severe trade penalties.” (08/14/17)

https://www.washingtonpost.com/world/china-bans-north-korea-iron-lead-coal-imports-as-part-of-un-sanctions/2017/08/14/a0ce4cb0-80ca-11e7-82a4-920da1aeb507_story.html

Trump ponders trade war with China

Source: Deutsche Welle [Germany]

“While US President Donald Trump presses China to step up pressure against North Korea, he is considering sparking a trade war with the world’s second largest economy. On Monday, Trump plans to sign an executive order asking his trade office to investigate China for its alleged theft of American technology and intellectual property [sic]. … The commissioned report may take a year to compile but could lead to US sanctions against Beijing.” (08/13/17)

http://www.dw.com/en/us-president-donald-trump-ponders-trade-war-with-china/a-40072810

Sources: Trump regime to take trade action against China

Source: Politico

“The Trump administration is preparing to take action against China over trade as soon as this week, two administration officials familiar with the issue told POLITICO. President Donald Trump will soon call on U.S. Trade Representative Robert Lighthizer to open an investigation against China under Section 301 of the Trade Act of 1974 for violations of U.S. intellectual property rights and forced technology transfers. As POLITICO reported earlier this week, senior Trump aides held a series of high-level meetings in recent days to finalize the decision, which is the culmination of three months of regular huddles on trade.” (08/01/17)

http://www.politico.com/story/2017/08/01/trump-china-trade-241233

Officials: Trump growing frustrated with China, weighs trade steps

Source: Reuters

“President Donald Trump is growing increasingly frustrated with China over its inaction on North Korea and bilateral trade issues and is now considering possible trade actions against Beijing, three senior administration officials told Reuters. The officials said Trump was looking at options including tariffs on steel imports, which Commerce Secretary Wilbur Ross already has said he is considering as part of a national security study of the U.S. steel industry. Whether Trump would take any steps against China remains unclear.” (06/28/17)

http://www.reuters.com/article/us-usa-trump-china-idUSKBN19I1XF

APEC trade ministers omit protectionism pledge in statement

Source: Bloomberg

“Asia-Pacific trade ministers issued a diluted ‘actions’ statement after a weekend meeting in Vietnam, suggesting further pressure from the U.S. to avoid explicit pledges to combat protectionism. The statement came after a dispute over wording, particularly whether to include language about protectionism. Instead, the Asia-Pacific Economic Cooperation document focused on issues like regulation and red tape. ‘We call on officials to accelerate work to deepen APEC’s structural reform agenda to remove barriers to trade and investment,’ it said.” (05/21/17)

Should US imports be taxed to subsidize exports?

Source: National Center for Policy Analysis
by David Ranson

“The tax debate in Congress has shifted away from simply cutting taxes to restructuring the tax system. There is no shortage of reform proposals, but current initiatives in tax and trade policy are no longer pointing in the right direction.” [summary — full paper available as PDF download] (04/17)

http://www.ncpa.org/sub/dpd/index.php?Article_ID=26745

Economic nationalists should be the very LAST people to endorse the use of retaliatory subsidies

Source: Cafe Hayek
by Don Boudreaux

“If subsidies are generally economically beneficial — if governments are generally good at ‘picking winners’ — there is no need or cause for the U.S. government to wait for other governments to use subsidies before it uses subsidies. Yet most of us Americans are justifiably skeptical of subsidies. We correctly understand that subsidies doled out by the national, state, and local governments generally inflict damage on the American economy. We realize that subsidies slow economic growth. We know that governments are losers at picking winners. We grasp the reality that subsidies misallocate resources. We sensibly conclude that subsidies make us, on the whole, poorer than we would be without subsidies. The major exception to this healthy hostility to subsidies is the set of subsidies said to be in retaliation for foreign-government subsidization of foreign industries that compete with American industries.” (03/24/17)

http://cafehayek.com/2017/03/42498.html