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Keyword: trade

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  • Free Trader Paul Krugman Admits Failure of Globalization for American Workers: ‘Major Mistake’

    10/14/2019 6:18:09 AM PDT · by Mr. Mojo · 67 replies
    Breitbart ^ | 13 Oct 2019 | JOHN BINDER
    Economist Paul Krugman, the longtime defender of global free trade and a member of the failed “Never Trump” movement, now admits that globalization has failed American workers. In a column for Bloomberg titled “What Economists (Including Me) Got Wrong About Globalization,” Krugman admits that the economic consensus for free trade that has prevailed for decades has failed to recognize how globalization has skyrocketed inequality for America’s working and middle class workers. Krugman, though, writes that he and his fellow free trade economists “had no way to know” that globalization of the American economy or a surge in trade deficits “were...
  • Trump says Chinese demand after 'greatest deal ever made' may overwhelm US farmers

    10/12/2019 10:32:07 AM PDT · by 2ndDivisionVet · 71 replies
    Fox Business News ^ | October 12, 2019 | Megan Henney
    President Trump lauded the partial trade agreement he struck with China this week, calling it the “greatest and best” deal in a tweet Saturday morning. As part of the deal -- which Trump and President Xi Jinping could sign as soon as next month -- China agreed to raise its agricultural purchases to between $40 billion and $50 billion from $8 billion to $16 billion and to make certain reforms on intellectual property and financial services. The U.S. will not raise tariffs on Oct. 15 from 25 percent to 30 percent. It’s still unclear whether Trump plans to halt another...
  • Trump Announces 'Very Substantial' But Partial China Trade Deal

    10/11/2019 3:56:42 PM PDT · by Aquamarine · 65 replies
    International Business Times ^ | Oct. 11, 2019 | Douglas Gillison
    President Donald Trump on Friday hailed a breakthrough in his drawn-out trade war with China, saying the two sides reached an initial deal that included a surge in purchase of American farm products. With the agreement -- which also covers intellectual property, financial services and currencies -- the White House will hold off on a massive tariff increase planned for next week, and as negotiations progress new tariffs planned for December also could be called off, US officials said. The interim bargain could allow both economic powers to claim success, while averting damaging escalation in the trade war and leaving...
  • Day 1 of U.S.-China trade talks ends with hopes for limited deal

    10/11/2019 6:23:28 AM PDT · by Aquamarine · 13 replies
    Reuters ^ | Oct. 10 2019 | David Lawder, Echo Wang
    WASHINGTON (Reuters) - Top U.S. and Chinese negotiators wrapped up a first day of trade talks in more than two months on Thursday as business groups expressed optimism the two sides might be able to ease a 15-month trade war and delay a U.S. tariff hike scheduled for next week. U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer met with Vice Premier Liu He and other senior Chinese officials for about seven hours at the USTR’s headquarters near the White House...... “We had a very, very good negotiation with China,” U.S. President Donald Trump told reporters after...
  • The US involvement in the HK “Democracy Now” movement.

    10/09/2019 4:42:00 PM PDT · by vannrox · 16 replies
    Metallicman ^ | September 2019 | editorial staff
    This is the full post, minus the photos and some formatting. If you don't know who Jimmy Lai is, how the NED is funded through the CIA, and what John Bolton is all about, this article is for you. Here, in this article, we look at the United States involvement with HK. We [1] study how the United States uses Hong Kong to exert pressure on China for trade and geopolitical advantage. We also [2] take a look at the various people “behind the scenes” that are pushing for American involvement, for their own personal gain. Finally, [3] we study...
  • COSCO Tankers Go Dark

    10/09/2019 3:38:22 PM PDT · by ameribbean expat · 43 replies
    About a third of the tankers owned by COSCO Shipping Tanker (Dalian) have shut off their AIS systems after the U.S. imposed sanctions on the company for allegedly shipping Iranian crude, reports Reuters. Ship tracking data from Refinitiv Eikon indicates that in the week ending October 7, 14 tankers, including nine VLCCs, have gone dark. The U.S. imposed sanctions on the company on September 25. At the time, the U.S. Department of State said the company, along with five others, knowingly engaging in a significant transaction for the transport of oil from Iran in defiance of sanctions set in place...
  • China Trade Deal Hopes Revive On Soybean Offer; Can Dow Jones Rally Last?

    10/09/2019 12:56:07 PM PDT · by 2ndDivisionVet · 31 replies
    Investor's Business Daily ^ | October 9, 2019 | Jed Graham
    This pivotal week of China trade talks started with a slap in the face, but Beijing may be turning the other cheek. Despite the Trump administration ban on sales to 28 Chinese tech firms accused of a role in the government's human rights abuses, China is still talking about buying more soybeans. Beijing's determination to reach a deal, however small, sparked a Wednesday rebound for the Dow Jones and broader stock market after Tuesday's 314-point drubbing. The Financial Times reported that China is willing to boost soybean purchases by 10 million tons, worth about $3.5 billion at current prices. That...
  • Who is Paying for the Trade War with China?

    10/09/2019 5:36:36 AM PDT · by BeauBo · 5 replies
    EconPol ^ | Nov 2018 | Benedikt Zoller-Rydzek and Gabriel Felbermayr
    The greatest share of the tariff burden falls not on American consumers or firms, but on Chinese exporters... a 25 percentage point increase in tariffs raises US consumer prices on all affected Chinese products by only 4.5% on average, while the producer price of Chinese firms declines by 20.5%. The US government has strategically levied import duties on goods with high import elasticities, which transfers a great share of the tariff burden on to Chinese exporters.
  • Trump Rids Major U.S. Container Port of Chinese Communist Control

    10/08/2019 4:00:00 PM PDT · by jazusamo · 77 replies
    Judicial Watch ^ | October 8, 2019
    Under a long-term deal sealed by the Obama administration, a Chinese Communist company was set to control the second-busiest container port in the United States. In an unreported Trump administration victory, the Communists are out after a drawn-out national security review forced a unit of China-based COSCO Shipping Holdings Co. (Orient Overseas Container Line—OOCL) to sell the cherished container terminal business, which handles among the largest freight of imports into the U.S. It all started with a 40-year container terminal lease between the Port of Long Beach in southern California and Hong Kong. The Obama administration proudly signed the agreement...
  • Remarks by President Trump at Signing of the U.S.-Japan Trade Agreement and U.S.-Japan Digi

    10/07/2019 11:37:04 PM PDT · by ransomnote · 2 replies
    whitehouse.gov ^ | 10/7/19 | Whitehouse
    Remarks by President Trump at Signing of the U.S.-Japan Trade Agreement and U.S.-Japan Digital Trade Agreement Roosevelt Room 3:59 P.M. EDT THE PRESIDENT: Well, thank you very much everybody. I want to start by wishing my very good friend, Prime Minister Abe of Japan, a very happy birthday. He’s 39 years old today. (Laughter.) So please extend my wishes to the Prime Minister. He’s a great gentleman and we have had tremendous success. As you know, in addition to what we’re talking about today, they’re building — Japan — many car plants in the United States, which they weren’t doing...
  • President Donald J. Trump Has Secured a Tremendous Victory For American Farmers and Businesses

    10/07/2019 11:21:19 PM PDT · by ransomnote · 4 replies
    whitehouse.gov ^ | 10/7/19 | Whitehouse
    President Donald J. Trump Has Secured a Tremendous Victory For American Farmers and Businesses With New Japan Trade Agreements Issued on: October 7, 2019 This is a huge victory for America’s farmers, ranchers, and growers. And that’s very important to me. President Donald J. Trump IMPROVING TRADE WITH JAPAN: The United States and Japan are signing two new agreements to improve our strong trade relationship. Today, the United States and Japan are signing two new agreements on trade: one on agricultural exports and another on digital trade. President Donald J. Trump is continuing to deepen and modernize our trade relationship...
  • Watch: Trump signs US-Japan trade deals at White House

    10/07/2019 1:23:08 PM PDT · by 2ndDivisionVet · 18 replies
    CNBC ^ | October 7, 2019 | Kevin Breuninger
    President Donald Trump on Monday is set to sign two agreements at the White House related to the U.S. trade relationship with Japan. Trump is set to sign the U.S.-Japan Trade Agreement and U.S.-Japan Digital Trade Agreement, according to the White House. The president is sealing those deals with Japan days before his negotiators are set to resume high-level trade talks with a delegation of senior Chinese officials. The two economic superpowers are working to hash out a sweeping deal that addresses issues including trade deficits, intellectual property theft and forced technology transfers.
  • ADOT widens I-10, but will it be enough?

    10/06/2019 8:27:48 PM PDT · by Tolerance Sucks Rocks · 14 replies
    Arizona Public Media ^ | October 1, 2019 | Jake Steinberg
    Interstate 10 is now three lanes both ways between Tucson and Casa Grande, but your commute probably won’t get faster. The Arizona Department of Transportation projects I-10 could be bumper-to-bumper all the way to Casa Grande during rush hour by 2035. The route currently carries around 60,000 vehicles daily, and that could quadruple depending on the region’s growth, according to an ADOT spokesperson. John Moffatt, director of economic development for Pima County, said those backups won’t just be bad for commuters. He said they will hurt trade with Mexico. “Trucks are like water. They find the path of least resistance...
  • HOUSE REPUBLICAN: Tariffs are 'only way' to change US-China relationship

    TWEET SHARE MORE 10/1/2019 Rep. Tim Burchett (R-Tenn.) defended President Trump’s ongoing trade war with China, arguing that such a hardline approach is the only way to fundamentally change diplomatic relations with Beijing. “The president is correct — it’s the only way,” Burchett, a member of the House Foreign Affairs Committee, told Hill.TV during an interview that aired on Tuesday, referring to Trump’s tariffs on Chinese goods. “This diplomacy they’ve been doing in the past is basically us giving them our checkbook and Congress is basically gutless when it comes to China,” he added. “We need to stand up them...
  • Blue collar voters fear the Democrats have abandoned them

    10/05/2019 7:02:09 PM PDT · by Hojczyk · 52 replies
    New York Post ^ | October 5,2019 | Salena Zito
    This cohort leans Republican now more than ever; a Gallup poll this year shows they favor the GOP by a whopping 25 percentage points. It was as if the Democratic Party didn’t understand how much they needed labor. Oddly, it appears they still don’t. “The working-class voters in my county tend to wonder if the party still wants them,” says Mark Hackel, the Democratic chief executive of Macomb County, Mich., where voters favored Trump over Clinton by 11 percentage points. “They’re not really sure where they fit in.” Mike Mikus, a Democratic strategist who helped guide Pennsylvania Gov. Tom Wolf’s...
  • Unemployment Rate Falls to Lowest Level Since 1948, U.S. Adds 136K in September (Unexepectedly)

    10/04/2019 6:07:14 AM PDT · by abb · 37 replies
    Peoples Pundit Daily ^ | October 4, 2019 | Staff
    Black, Hispanic Unemployment Rates at All-Time Lows The U.S. unemployment rate in September fell to 3.5%, the lowest level since May 1948, and total nonfarm payrolls increased by 136,000. The unemployment rate for black (5.5%) and Hispanic (3.9%) workers are at record lows. Forecasters were expecting a low of 120,000 to a high of 179,000. The consensus forecast was 145,000. However, the U.S. economy added more than 40,000 jobs than the last two jobs reports indicated. The labor force participation rate held steady at a very positive 63.2%, beating the consensus forecast expecting a 0.1% decline. The employment-population ratio, though...
  • Samsung ends mobile phone production in China

    10/03/2019 8:56:33 PM PDT · by BeauBo · 41 replies
    Investing.com (Reuters) ^ | 2 Oct 2019 | Ju-min Park
    Samsung Electronics Co Ltd (KS:005930) has ended mobile telephone production in China, it said on Wednesday, hurt by intensifying competition from domestic rivals in the world's biggest smartphone market. The shutdown of Samsung's last China phone factory comes after it cut production at the plant in the southern city of Huizhou in June and suspended another factory late last year, underscoring stiff competition in the country. The South Korean tech giant's ceased phone production in China follows other manufacturers shifting production from China due to rising labor costs and the economic slowdown. Sony also said it was closing its Beijing...
  • WTO rules in favor of US in Airbus dispute, paving way for tariffs.....(Winning!)

    10/03/2019 11:56:38 AM PDT · by caww · 5 replies
    Washington Exaniner ^ | 9/2/2019 | by Sean Higgins
    The World Trade Organization ruled in favor of the United States Wednesday in a long-running dispute with the European Union over subsidies to Airbus, paving the way for the U.S. to hit the EU with $7.5 billion in retaliatory tariffs........ The U.S. and EU have been fighting since 2004 over whether their respective aerospace industry policies toward Airbus and Boeing amount to unfair practices. The WTO's ruling said the EU subsidized Airbus by giving it preferential treatment on interest rates. "The Appellate Body upheld the Panel’s findings that Airbus paid a lower interest rate ... than would have been available...
  • Finnish president uses White House press conference to troll Donald Trump over trade and the...

    10/02/2019 2:58:40 PM PDT · by RummyChick · 27 replies
    dm ^ | 10/2/2019 | martosko
    President Sauli Niinistö of Finland played a passive-aggressive game with Donald Trump on Wednesday at the White House, peppering a joint press conference with jabs subtle enough to fly under his radar. Trump, preoccupied with spitting nails over House Democrats' latest impeachment development, hardly seemed to notice. Niinistö described his time browsing Washington's sprawling museums, noting the Smithsonian Institution's traditionalist American history collection and a ceremony he witnessed at Arlington National Cemetary. He also heaped praise on the National Museum of the American Indian and the still new-ish National Museum of African American History and Culture, spotlighting racial diversity and...
  • Dow loses nearly 500 points on fears that US economy is weakening

    10/02/2019 3:05:29 PM PDT · by Berlin_Freeper · 47 replies
    nypost.com ^ | October 2, 2019 | Kevin Dugan
    Stocks got slammed for the second day in a row on Wednesday after weak payroll numbers stoked fears that President Trump’s trade wars were slowing down the US economy. The Dow Jones Industrial Average dropped by nearly 600 points, to a low of 25,974.12, after data from ADP showed that private US employers had hired fewer workers than expected. The Dow ended the day down 494.42 points, or 1.9 percent, to 26,078.62. The report, a precursor to the Labor Department’s more comprehensive jobs report due Friday, followed dismal numbers on US manufacturing Tuesday that showed activity was at its lowest...