China joins carbon tax protest

Financial Times ^ | 7/3/09

[FromLori]

Beijing on Friday joined a growing clamour of complaint about US plans for a carbon tax on imports from countries without their own emission caps, warning it could set off a global trade war.

The warning follows the passage of a cap-and-trade bill in the US House of Representatives last weekend, which contained tough provisions to impose carbon tariffs to ensure that American companies would not lose competitive advantage. A recent report by the World Trade Organisation and the UN said such taxes could in theory be crafted to be compatible with WTO law, but it would be hard to prove they were not an illegal disguised restriction on international trade.

“It has always been China’s position that the international society should fight climate change together, but the proposal of some developed countries to slap a carbon tariff on some imported products violates the WTO’s basic principles and is trade protectionism in the disguise of environmental protection,” said Yao Jian, spokesman for China’s ministry of commerce.

Earlier this week, Jairam Ramesh, the Indian environment minister, described carbon tariffs as “pernicious” and flatly rejected the idea of negotiating climate change at the WTO.

After the passage of the House bill by a narrow vote last week, President Barack Obama warned imposing carbon border taxes might send a protectionist signal. “I think there may be other ways of doing it than with a tariff approach,” he said. The bill now moves to the Senate, where it is likely to receive an even rougher ride from moderate Democrats concerned about imposing more costs on US businesses.

The Chinese government also said it believed the carbon tax proposal violated the principle set out in the Kyoto protocol that developed and developing countries should respond to climate change together but with different responsibilities. “

[Kansas58]

Never have I ever thought that I would be grateful to China, of all places!
Well, who will buy our debt if China tells Obama to stick his carbon tax?

[EGPWS]

Beijing on Friday joined a growing clamour of complaint about US plans for a carbon tax on imports from countries without their own emission caps, warning it could set off a global trade war.

Everyone gets it but the soon to be previous only super power.

[EagleUSA]

Beijing on Friday joined a growing clamour of complaint about US plans for a carbon tax on imports from countries without their own emission caps, warning it could set off a global trade war.
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Duh. Yes. I agree. Everyone agrees, with the exception of the tax-crazy DemoRat socialists who want to tax America into oblivion.

[Blood of Tyrants]

I never thought that China would be more free on trade than the US.

[Greenpees]

They’re not about free trade, they’re about free rides. They don’t care a bit if Obama blasts American business with this Cap/Trade fraud, but they aren’t going to do thier so-called “bit” to reduce anything. Now, if they’d come out and call it B.S. science, that would impress me.

[xcamel]

Carbon Tax, Cap & Scam Ping - (POGW)

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Strange, if true..

[UCANSEE2]

I never thought Pravda would be a better news source than the NYT.

I never thought the President would step into a private company and fire people.

I never thought I would see Congress and Senate staffed by admitted sexual perverts, and multi-felony criminals.

I never thought I’d see the President of the US tell Israel to give up Jerusalem.

I never thought I’d see a person who seemed to be a Muslim become President.

I never thought I’d see children punished at school for wearing Jesus shirts, or saying a prayer.

And that’s the short list....

[parsifal]

More like, who will make all our stuff? Maybe Americans?

parsy, who can see different ways this could go.

[Blood of Tyrants]

Actually, the Chinese are quite worried about the US. They currently hold about $350 billion in US debt and don’t want to see the dollar slide any further because that will make their debt worth less. OTOH, Obama is doing all he can to destroy the wealth that the people have accumulated by inflating the dollar.

[alloysteel]

This “carbon tariff” plan is an almost exact analogue of the Smoot-Hawley Tariff Act that went into effect in 1930, and probably contributed to the almost total collapse of international trade in the early part of the Great Depression.

Remarkably, FDR did NOT repeal the Smoot-Hawley tariff act in its entirety, but continued the protectionist provisions throughout the rest of his successive administrations, by relying on “Reciprocal Trade Agreements” worked out with other nations individually, starting in 1934. Of course, by the time the Second World War broke out, any tariffs were a moot point anyway.

[musicman]

[musicman]

"Actually, the Chinese are quite worried about the US. They currently hold about $350 billion in US debt and don’t want to see the dollar slide any further because that will make their debt worth less. OTOH, Obama is doing all he can to destroy the wealth that the people have accumulated by inflating the dollar."

[Freedom'sWorthIt]

Just another unintended consequence of this massive destruction bill called Cap and Trade....or Crap and Tax.

[ding_dong_daddy_from_dumas]

It has always been China’s position that the international society should fight climate change together

ROTLLMAO! "Together" means "You do it, we are not that stupid!"

[steelyourfaith]

 

Beam me to Planet Gore !