WTO Ready for U.S. Sanctions

Reuters ^ | Thursday November 25, 11:07 AM EST | Unknown

[Navydog]

GENEVA (Reuters) - The World Trade Organization cleared the way on Thursday to impose $150 million of trade sanctions on the United States, sought by the European Union and others, after lawyers resolved a legal wrangle.

[hiredhand]

LOL! Define hostile.

Ah...poor choice of words! I should have said "leftist" instead.

But now that I think about it, when you peel off the diversity embracing, deep thinking, envoronmentally "aware", NPR donating, godless, intellectual exterior, you usually find a hateful SOB who is about to have an aneurism because GWB retained the executive office. Once you break them down to the least common denominator (so to speak), they ARE hostile!

[sevry]

chinese currency peg

What's that?

[oceanview]

the chinese currency does not float, so the exchange rate for it is not set by the market. the chinese maintain an artificial peg, it guarantees them that no matter what the dollar does and what happens in the internal chinese economy, the exchange rate remains the same. so our abysmal trade picture with them, cannot improve based on currency moves.

[TheForceOfOne]

let me get this straight, they're threatening us to stop buying crap not made in the USA, reduce the trade deficit, put more Americans to work, and send their markets which depend on us into a deeper decline? is this a joke?

this is like fish boycotting water.

[sevry]

an artificial peg,

But I wondered just what that was. What is it?

[GGpaX4DumpedTea]

"...we'll just deduct the WTO fines from next year's UN appropriation."

The rule of thumb in these situations is 7 times for first offense and 70 times 7 for subsequent offenses against us. :)

And then we let the European Commies (Socialists) make up the difference in the UN. This might end their foolishness.

[F.J. Mitchell]

Hostile,does seem properly definitive in this case, then.

[Paperdoll]

Thanks to William Jefferson Clinton, it looks like we've been sold down the river with the WTO, NAFTA and GAT. Can
GWB repeal those agreements, and what would it take to do so? The price of our goods must look mighty tempting to the EU people for the WTO to impose sanctions against us.

[Paperdoll]

So what else is new? What did we expect entering all these world agreements? As far as I know, we still maintain a shred of sovereignty in this country. So what's with all this International Law "waste product"
stuff, anyway? Make the tariffs on their goods higher in retaliation, and eventually the entire world will be bankrupt.

We are not to return evil for evil, but I doubt the Good
Lord expects us to commit financial suicide.

[oceanview]

their currency does not float, it is set at a fixed exchange rate by their government.

[Once-Ler]

Either your with us or your against us!

Choose wisely you members of WTO!

LOL!

[ATOMIC_PUNK]

[THEBEAK]

Hummn.....There's more to this than meets the eye.

[Grand_Capitalism_04]

No problem, we'll just deduct the WTO fines from next year's UN appropriation

YOU MEAN MY TAXES ACTUALLY SUPPORT THE U.N ?!?!?!

[Veritas et equitas ad Votum]

I think so, but I have looked several times for info on the UN site detailing where it's cash comes from with no luck.

There was a good thread recently talking about NY staters getting fed up with the UN bureaucrats in their state...

http://www.freerepublic.com/focus/f-news/1288891/posts

[Veritas et equitas ad Votum]

Here's some info I found after looking AGAIN...

http://www.un.org/geninfo/ir/ch5/ch5.htm

How much does the UN cost?

The regular budget of the UN is some $1.3 billion per year. It pays for UN activities, staff and basic infrastructure but not peacekeeping operations, which have a separate budget. All States of the UN are obligated by the Charter – an international treaty – to pay a portion of the budget. Each State's contribution is calculated on the basis of its share of the world economy.

[Just another Joe]

You are completely correct on all counts, pillbox.

All they want is to use the cheap labor overseas to be able to lower the prices long enough to run any homegrown US business OUT of business.

Screw 'em and start a trade war and let's see how long they last.

[t_skoz]

whoops!

I hit abuse on my own post... I pasted that to the wrong window!!!

Many apologies!