In response to the Trump administration's tariffs on steel and aluminum imports, China has initiated tariffs against American against American food products. China placed tariffs of up to 25% on 128 kinds of products from the U.S. The FT's Tom Hancock reports: The highest additional tariffs of 25 per cent will be imposed on top of existing duties on imports of US scrap aluminium and various kinds of frozen pork, the statement said. An additional 15 per cent tariff will apply to dozens of US foods including fresh and dried fruits such as cherries, nuts such as almonds and pistachios, and wine … [Read more...]
China Started the Trade War
Greg Ip points out that the tariffs the Trump administration plans to enact on Chinese goods are not a preemptive strike. China has been engaged in predatory trade practices for years. This is well worth a full read and helps to put the tariffs into perspective . If there’s a trade war between the U.S. and China, don’t blame Donald Trump : China started it long before he became president. Even free traders and internationalists agree China’s predatory trade practices—which include forcing U.S. business to transfer valuable technology to Chinese firms and restricting access to Chinese … [Read more...]
Is China a ‘Market Economy’? U.S. Says No
Last year China made complaints to the WTO that the United States and European Union were not treating it as a market economy. In a briefing to the court in China's case, the U.S. has, for the first time, laid out why it doesn't believe China is a market economy. Jacob Schlesinger writes at The Wall Street Journal: China filed complaints late last year against both the U.S. and the EU with the WTO trade court demanding that the U.S. and EU grant it market status. The U.S. case has since stalled, but the complaint against Europe is moving forward toward hearings. What the U.S. revealed on … [Read more...]
What’s at Risk in NAFTA Talks?
Apparently your flat screen TV is at risk of seeing a price hike according to the Wall Street Journal. If NAFTA breaks down, the Journal reports, Americans will see the cost of buying a new television rise. One importer tells the Journal that even at twice the price, the TVs couldn't be made in America profitably. Robbie Whelan and Santiago Pérez report: Ending the North American Free Trade Agreement risks shifting more production of TV components to Asia, prompting higher prices for U.S. consumers and not resulting in new American jobs, according to manufacturing executives and … [Read more...]
With U.S. Out, Japan Takes the Reins on TPP
After the U.S. pulled out of the Trans Pacific Partnership, the other eleven countries involved didn't abandon the effort. Led by Japan, the nations are trying to finish the job on successfully signing the trade pact. Ben Otto reports: Led by Japan, trade negotiators are meeting in this seaside town ahead of the Asia-Pacific Economic Cooperation summit, seeking a revised version of the Trans-Pacific Partnership by suspending clauses that the U.S. had backed for years in negotiations under former President Barack Obama. Paulina Nazal, Chile’s vice minister of trade and TPP chief, said … [Read more...]
Will NAFTA Negotiations Help or Hurt?
Negotiators are looking for a "win-win-win" outcome, but they're also talking about the collapse of the trade pact. Will negotiations over NAFTA have a positive or negative effect on business in America? Jacob M. Schlesinger writes: Donald Trump’s presidency has so far been largely good for big business and investors, with deregulation in train, hopes for corporate tax cuts, and stocks hitting records. But the risk of a serious jolt now looms: the potential end of the North American Free Trade Agreement, which has governed continental commerce for a quarter-century. Because the likelihood … [Read more...]
What Can America Win in NAFTA Negotiations?
NAFTA renegotiations have begun between the three treaty members. Businesses with international operations are watching closely to see whether or not they will be affected, and if so positively or negatively. President Trump has been a harsh critic of NAFTA and its effects on the American economy, while leaders in Canada and Mexico are happier with the current treaty. The Wall Street Journal reports that leaders want to work through the renegotiation as quickly as possible in order to avoid it becoming an issue in elections next year. “Our first goal is to keep the deal in place,” said … [Read more...]
Can GE Go Local to Avoid Protectionism?
With protectionism heating up around the world, GE is adopting a strategy of localization. It's building plants and facilities in places it never otherwise would in order to avoid protectionism. Can this strategy work long term? Ted Mann and Brian Spegele write in the Wall Street Journal: In India, GE began to push harder on localization after Prime Minister Narendra Modi was elected in 2014 on a “Make in India” platform. He promised economic development fueled by major investments in India’s infrastructure. GE says it wouldn’t have won its India locomotive deal in 2015 without first … [Read more...]
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