Free Republic

It was virtually guaranteed to happen, the only unknown was the actual timing of when they would execute their self-interested plan.  Remember, there are trillions at stake and the multinationals will not give up their power, influence and control over the U.S. economy. The media are reporting on a “group” of lobbyists “uniting” in a common strategy to oppose President Trump, ahead of the mid-terms, based on Chinese tariffs.  Those who have followed this “group”, also known as “the big club”, for decades know full well the lobbyists are financed through Wall Street multinational corporations and foreign money (hint: China).  The foreign...

President Donald Trump’s trade war may soon escalate if the U.S. slaps more tariffs on import goods from China. Mohamed El-Erian, chief economic adviser at the Allianz Group and former CEO of PIMCO, assuaged U.S. investors by noting that the chance of the U.S. getting a better deal from the trade war is 3-in-4. “I think it’s really important to make a distinction between the journey and the destination,” El-Erian said on Yahoo Finance’s The Final Round on Tuesday. “The journey will involve lots of noise, lots of rhetoric about trade wars, and the technically vulnerable asset classes, such as...

When President Trump promised to make America great again, the employees at Mid Continent Nail in Missouri probably didn’t expect he would put them out of work. But the steel tariffs imposed in June have the company hanging by a thread. Mid Continent is the largest nail manufacturer in the U.S. and has been in Missouri for more than 25 years. It had 500 employees at its Popular Bluff plant and was the second largest employer in the small town before the Trump tariffs hit. The trouble for Mid Continent is that foreign producers making nails abroad use low-price steel...

Bloomberg link only

Ford won’t be moving production of a hatchback wagon to the United States from China — despite President Donald Trump’s claim Sunday that his taxes on Chinese imports mean the Focus Active can be built in America. Citing Trump’s new tariffs, Ford on Aug. 31 said it was dropping plans to ship the Focus Active from China to America. Trump took to Twitter Sunday to declare victory and write: “This is just the beginning. This car can now be BUILT IN THE U.S.A. and Ford will pay no tariffs!” But in a statement Sunday, Ford said “it would not be...

Analysis: As the Trump administration continues to express greater support for Taiwan, China is exerting more effort in peeling away as many of Taiwan’s remaining 17 allies as it can, as a way to further isolate the island. Moving into regions so close, geographically and politically, to Washington is akin to the Soviet Union moving into traditional U.S. zones of influence in the Caribbean (Cuba) and Latin America during the Cold War.

U.S. President Trump tweeted on Saturday that Apple Inc (AAPL.O) should make products inside the United States if it wants to avoid tariffs on Chinese imports. The company told trade officials in a letter on Friday that the proposed tariffs would affect prices for a “wide range” of Apple products, including its Watch, but it did not mention the iPhone. Trump, speaking on Friday aboard Air Force One, said the administration had tariffs planned for an additional $267 billion worth of Chinese goods. Trump tweeted that “Apple prices may increase because of the massive Tariffs we may be imposing on...

The Commerce Department says the deficit in goods and services — the difference between what America sells and what it buys from other countries — rose to $50.1 billion in July from $45.7 billion in June. Exports slipped 1 percent to $211.1 billion. Imports increased 0.9 percent to a record $261.2 billion.

U.S. stock markets surged Monday after President Trump announced the United States and Mexico have reached a preliminary trade agreement, which is part of the Trump administration’s effort to rewrite the North America Free Trade Agreement (NAFTA). Does this mean the new deal is a “huge” improvement over NAFTA? Not exactly.President Trump has called NAFTA the “worst” trade deal in history, but an analysis of key provisions finds limited improvements, some compromises, and quite a few flaws in this new agreement.The biggest improvement is with respect to digital trade, something missing from the NAFTA agreement established in 1990, when...

No Deal! Trade Talks with Canada Conclude for the Week with No Agreement | Breitbart http://bit.ly/2LJgJn2 via @BreitbartNews 6:51 PM - 1 Sep 2018 MAKE AMERICA GREAT AGAIN! 6:53 PM - 1 Sep 2018 We shouldn’t have to buy our friends with bad Trade Deals and Free Military Protection! 6:55 PM - 1 Sep 2018

EU Trade Commissioner Gives Ground: We’re Willing To Drop Auto Tariffs To Zero (If The US Will Do The Same)(Full Title) President Trump’s hard line on tariffs has won a significant concession from the European Union, at least the promise of one. Trump has been warning all summer that he could add a tariff on automobile imports which would have a significant impact on automakers in Europe (as well as Japan and Mexico). Today the European Union Trade Commissioner Cecilia Malmstrom said the EU was willing to drop all of its existing tariffs on cars and other goods to zero...

On June 20, 2018 (83 FR 28710), the U.S. Trade Representative (Trade Representative) provided notice of an initial action in the Section 301 investigation of the acts, policies, and practices of the Government of China related to technology transfer, intellectual property, and innovation. The initial action was the imposition of an additional 25 percent ad valorem duty on products of China with an annual trade value of approximately $34 billion, effective July 6, 2018. The proposed modification is to maintain the original $34 billion action and the proposed $16 billion action, and to take further action in the form of...

Investors cheered Monday’s announcement of a trade deal with Mexico, and appropriately so. A final agreement is not yet in hand, but if maintained, it could alleviate a portion of the significant trade-related uncertainty investors have been dealing with for more than a year. The agreement would offer a few notable adjustments to the original 1994 North American Free Trade Agreement (NAFTA), which primarily dealt with the trade in goods. The world has changed dramatically since 1994, however, and the value-add of manufacturing skills has been diluted by a proliferation of production capabilities around the world. A nation’s economic worth,...

WASHINGTON—High-stakes trade negotiations between Canada and the U.S. were dramatically upended on Friday morning by inflammatory secret remarks from President Donald Trump, after the remarks were obtained by the Toronto Star. In remarks Trump wanted to be “off the record,” Trump told Bloomberg News reporters on Thursday, according to a source, that he is not making any compromises at all in the talks with Canada — but that he cannot say this publicly because “it’s going to be so insulting they’re not going to be able to make a deal.” In a remark he did not want published, U.S. President...

President Donald Trump wants to move ahead with a plan to impose tariffs on $200 billion in Chinese imports as soon as a public-comment period concludes next week, according to six people familiar with the matter. Companies and members of the public have until Sept. 6 to submit comments on the proposed duties, which cover everything from selfie sticks to semiconductors. The president plans to impose the tariffs once that deadline passes, according to the people familiar with the matter, who spoke on condition of anonymity because the discussions aren’t public. U.S. stocks fell on the news.

... Turning to labor standards, I find nothing in the TPP that comes close to the 75 percent regional auto content, including parts, up from about 62.5 percent under NAFTA. TPP’s auto content rules were set at 45 percent, meaning most of the value of a vehicle could be sourced from China and still have obtained TPP treatment. An even greater standards improvement is the requirement in the U.S.-Mexico deal for $16 an hour pay for 45 percent of auto-production content and 40 percent of auto parts content; that’s about four times what Mexican auto parts workers currently make and...

OTTAWA — Shortly after his election in late 2015, Prime Minister Justin Trudeau declared “Canada is back,” promising a renewed Canadian presence on the world stage. Trudeau has taken political hits since then for minor lapses, such as a luxury family holiday visit to a Caribbean island and an ill-fated trip to India, but his biggest challenge, just a year before Canadians go to the polls, has come from the leader of Canada’s longtime military ally and economic partner. Now, Canadians worried that their government has been sidelined in crucial trade talks and may be forced to back down on...

WASHINGTON (Reuters) - Canada’s top trade negotiator joins her Mexican and U.S. counterparts in Washington on Tuesday in a bid to remain part of a trilateral North American trade pact, as U.S. officials expressed optimism a deal could be reached this week. Ottawa is under pressure to accept new terms on auto trade and dispute settlement rules after the United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA). Canadian Foreign Minister Chrystia Freeland rejoins the year-long talks following a hiatus of several weeks as the United States and Mexico ironed out outstanding bilateral...

Pennsylvania, a state that helped put President Donald Trump in the White House, isn’t too keen on the president’s tariff push, a new NBC News/Marist poll finds, as a near majority fears that the ongoing trade war will ultimately damage the U.S. economy. Forty-five percent of Pennsylvania adults believe that tariffs and other import barriers will raise costs of consumer goods and hurt the country’s economy. By comparison, 27 percent believe they will protect American jobs and help the economy. The administration’s trade policy is unpopular across virtually all demographic groups in the NBC/Marist poll — the only groups where...

President Donald Trump says the United States is close to a “big Trade Agreement” with Mexico and he’s citing improving ties between the two countries. […] He’s spoken of better relations with America’s neighbor following the rise of Mexican President-elect Andres Manuel Lopez Obrador. The U.S. and Mexico have been discussing a trade deal as part of negotiations over the North American Free Trade Agreement. The Trump administration is seeking a revised version of that trade deal with Mexico and Canada. …