From Belfast Telegraph
''The tiny Caribbean nation of Antigua and Barbuda intends to pursue
retaliatory sanctions against US commercial services and intellectual
property as part of its David vs Goliath trade battle with the United
States, the islands' finance minister has announced.
Antigua Finance
Minister Harold Lovell said the tiny country of less than 90,000 people
has tried unsuccessfully for years to negotiate a "fair settlement" with
the US.''
Showing posts with label trade war. Show all posts
Showing posts with label trade war. Show all posts
Monday, December 10, 2012
Sunday, September 30, 2012
''European Union closer to trade war with U.S.''
From Post Bulletin
''The European Union inched closer to a trans-Atlantic trade war Thursday, saying it would seek to impose up to $12 billion a year in sanctions against the United States in retaliation for U.S. government subsidies to Boeing.
The European Commission, the EU executive, said it was seeking the sanctions to compensate for the impact of illegal subsidies to Boeing that it said gave Boeing an unfair advantage over its European archrival, Airbus.The move, which follows a similar trade threat against Europe made by Washington this year, is the latest salvo in a seven-year battle over aircraft subsidies.''
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''The European Union inched closer to a trans-Atlantic trade war Thursday, saying it would seek to impose up to $12 billion a year in sanctions against the United States in retaliation for U.S. government subsidies to Boeing.
The European Commission, the EU executive, said it was seeking the sanctions to compensate for the impact of illegal subsidies to Boeing that it said gave Boeing an unfair advantage over its European archrival, Airbus.The move, which follows a similar trade threat against Europe made by Washington this year, is the latest salvo in a seven-year battle over aircraft subsidies.''
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Tuesday, August 28, 2012
''Gold standard: Global powers would risk new trade war''
From Economic Times
''Gold prices would likely surge to $10,000 an ounce, the greenback's credibility would vanish and global superpowers would risk a new trade war if Republicans were to restore the link between the U.S. dollar and gold that was severed 40 years ago. But that isn't stopping Republicans from considering the idea, who will call for a commission to look at restoring a fixed value for the dollar, according to a draft of the party platform to be adopted at the Republican National Convention that begins on Monday in Tampa, Florida.''
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''Gold prices would likely surge to $10,000 an ounce, the greenback's credibility would vanish and global superpowers would risk a new trade war if Republicans were to restore the link between the U.S. dollar and gold that was severed 40 years ago. But that isn't stopping Republicans from considering the idea, who will call for a commission to look at restoring a fixed value for the dollar, according to a draft of the party platform to be adopted at the Republican National Convention that begins on Monday in Tampa, Florida.''
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Wednesday, July 11, 2012
''Argentina protests against U.S., Japan at WTO''
From NTN24
''Argentina has lodged complaints at the World Trade Organization against the United States and Japan over import restrictions on meats and lemons, the foreign ministry said Tuesday.
"The unjustified restrictions of the United States and Japan add to the traditional protectionist practices -- such as agricultural subsidies -- that maintain an uneven system of multilateral trade and show yet again the difference in treatment between developed countries and developing countries in terms of international trade," the ministry said in a statement.''
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''Argentina has lodged complaints at the World Trade Organization against the United States and Japan over import restrictions on meats and lemons, the foreign ministry said Tuesday.
"The unjustified restrictions of the United States and Japan add to the traditional protectionist practices -- such as agricultural subsidies -- that maintain an uneven system of multilateral trade and show yet again the difference in treatment between developed countries and developing countries in terms of international trade," the ministry said in a statement.''
read more
Friday, April 6, 2012
''Former World Bank adviser on possible "trade war" with China''
From Channel News Asia
"However, Mr Dahlman has warned in his new book, "The World Under Pressure", that tension towards China is rising not just from America but other countries like Brazil - which has implemented measures like levies on Chinese imports.
And there is a growing global concern over the world's second largest economy buying up natural resources from Africa and the Middle East.
Mr Dahlman said: "When you have big changes in relative power, they tend to lead to trade wars, resource wars, cold wars like what we had with Russia, or worst yet, conventional wars. In my analysis, I am not expecting it to happen, I am just saying that there are these big tensions which are growing and they have to be defused."
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"However, Mr Dahlman has warned in his new book, "The World Under Pressure", that tension towards China is rising not just from America but other countries like Brazil - which has implemented measures like levies on Chinese imports.
And there is a growing global concern over the world's second largest economy buying up natural resources from Africa and the Middle East.
Mr Dahlman said: "When you have big changes in relative power, they tend to lead to trade wars, resource wars, cold wars like what we had with Russia, or worst yet, conventional wars. In my analysis, I am not expecting it to happen, I am just saying that there are these big tensions which are growing and they have to be defused."
read more
Sunday, March 25, 2012
India: "Govt prepares for trade war with European Commission"
From Times of India
"NEW DELHI: After a carbon tax levied on aviation by the European Union, the government is now preparing for a possible trade war with the European Commission imposing a similar levy on shipping business as well - a move that can increase freight rates by 3-15%.
With EU mulling a tax on the shipping industry that will impose a levy based on carbon emissions on ships entering European waters., the Indian government has prepared a policy document to examine impacts of such a move and list measures to retaliate what it sees as a unilateral move."
read more
"NEW DELHI: After a carbon tax levied on aviation by the European Union, the government is now preparing for a possible trade war with the European Commission imposing a similar levy on shipping business as well - a move that can increase freight rates by 3-15%.
With EU mulling a tax on the shipping industry that will impose a levy based on carbon emissions on ships entering European waters., the Indian government has prepared a policy document to examine impacts of such a move and list measures to retaliate what it sees as a unilateral move."
read more
Wednesday, March 21, 2012
''Threat of global trade war over airline emission charges''
From The Telegraph
"The question is, are you [the European Union] provoking the world into a trade war?'," the official told Reuters."
read more
"Chinese airlines have cancelled $14bn (£8.8bn) of orders with European aircraft manufacturer Airbus following the introduction of the charges and a senior Indian official has now warned there are "lots of measures" that India could take if the EC does not back down.
"The question is, are you [the European Union] provoking the world into a trade war?'," the official told Reuters."
read more
Wednesday, March 7, 2012
Trade War: ''China lambasts U.S. trade bill, won't adjust yuan''
"A U.S. trade bill targeting Chinese imports goes against international rules and Beijing will not adjust the value of its currency to try to bridge a trade deficit that is Washington's problem to fix, China's commerce minister said on Wednesday.
President Barack Obama is set to sign the bill into law to allow duties to be imposed on subsidized goods from China and Vietnam, which the White House says will protect American jobs."
Saturday, March 3, 2012
''China's Tougher Car Procurement Policy Provokes European Threats''
"Following China’s move to block officials from purchasing foreign brand cars, the Europe Union’s main lobbying group has warned Beijing that its national carmakers, such as Great Wall Motor Company Limited and Geely Automobile Holdings, might be prevented from opening new factories on the continent."
from eeo....
from eeo....
Thursday, February 2, 2012
''U.S. - China Energy Trade War Imminent?''
"Hardly surprising, as during the period January-November China’s surplus balance of trade with the U.S. reached $272 billion, almost 8 percent higher than that registered during the corresponding period in the previous year, as U.S. consumers become more dependent on Chinese producers than ever before."
from oilprice.com....
from oilprice.com....
Monday, December 5, 2011
''Trade war with China on the horizon''
from community.nasdaq......
"The Financial Times suggested this weekend that with the European economy on the precipice of melting down, the risk of a trans-Pacific trade war is rising.
"We are following a dual approach - trying to bring China into the international system and get it to take responsibility for being one of a small group of countries responsible for making the international system work well," an unnamed senior administration official told the British paper. "And, at the same time, push them hard when they take actions that contravene the rules"....................READ MORE
"The Financial Times suggested this weekend that with the European economy on the precipice of melting down, the risk of a trans-Pacific trade war is rising.
"We are following a dual approach - trying to bring China into the international system and get it to take responsibility for being one of a small group of countries responsible for making the international system work well," an unnamed senior administration official told the British paper. "And, at the same time, push them hard when they take actions that contravene the rules"....................READ MORE
Tuesday, October 18, 2011
Thursday, October 13, 2011
'From Smoot-Hawley to the Yuan Controversy'
from national interest........
On May 5, 1930, President Herbert Hoover received a petition from 1,028 U.S. economists with a stark and urgent warning: Don’t sign the Smoot-Hawley tariff bill that was wending its way through Congress. “Countries cannot permanently buy from us unless they are permitted to sell to us,’’ the economists explained, “and the more we restrict the importation of goods from them by means of even higher tariffs, the more we reduce the possibility of our exporting to them.’’ Moreover, warned the economists, the tariff would slam the finances of Americans who had invested in foreign ventures—to the tune of an estimated $12.5 billion to $14.5 billion, as of January 1, 1929. Restrictive duties, said the economists, would thwart the foreign debtors’ ability to pay interest to American investors.
Hoover ignored the advice and signed the tariff bill on June 17, 1930. In doing so, he sealed the fate of the global economy—and his own political fate as well"............READ MORE
On May 5, 1930, President Herbert Hoover received a petition from 1,028 U.S. economists with a stark and urgent warning: Don’t sign the Smoot-Hawley tariff bill that was wending its way through Congress. “Countries cannot permanently buy from us unless they are permitted to sell to us,’’ the economists explained, “and the more we restrict the importation of goods from them by means of even higher tariffs, the more we reduce the possibility of our exporting to them.’’ Moreover, warned the economists, the tariff would slam the finances of Americans who had invested in foreign ventures—to the tune of an estimated $12.5 billion to $14.5 billion, as of January 1, 1929. Restrictive duties, said the economists, would thwart the foreign debtors’ ability to pay interest to American investors.
Hoover ignored the advice and signed the tariff bill on June 17, 1930. In doing so, he sealed the fate of the global economy—and his own political fate as well"............READ MORE
Tuesday, October 11, 2011
'Trade War? We Already Had A Free Trade War And Communist China Won'
from oped news.....
"The free traders have devastated the first world economies and rewarded the greater slave and totalitarian capitalist powers over once more free, democratic, and independent nations. So-called "free trade" has been a disaster for human rights, democracy, the environment, domestic production and independence and national sovereignty. Its been a big win for global corporate fascism and the top one per cent, and that is why they want more of it"..........READ MORE
"The free traders have devastated the first world economies and rewarded the greater slave and totalitarian capitalist powers over once more free, democratic, and independent nations. So-called "free trade" has been a disaster for human rights, democracy, the environment, domestic production and independence and national sovereignty. Its been a big win for global corporate fascism and the top one per cent, and that is why they want more of it"..........READ MORE
'China currency bill passes U.S. Senate'
Friday, October 7, 2011
'China currency sanctions bill moves toward vote in Senate'
from wapo.........
"A measure designed to punish China for undervaluing its currency cleared a key procedural hurdle in the Senate on Thursday morning as a bipartisan majority embraced the populist effort intended to boost the country’s trading position with Beijing".............READ MORE
"A measure designed to punish China for undervaluing its currency cleared a key procedural hurdle in the Senate on Thursday morning as a bipartisan majority embraced the populist effort intended to boost the country’s trading position with Beijing".............READ MORE
Thursday, October 6, 2011
'US seeks WTO action on China, India subsidies'
from afp........
"The United States said Thursday it has enlisted the World Trade Organization to obtain detailed information on subsidy programs in China and India.
US Trade Representative Ron Kirk said that Washington had submitted information to the WTO identifying nearly 200 subsidy programs that China has failed to notify as required under WTO rules, as well as information on 50 subsidy programs in India not previously notified.
The United States is seeking the "prompt provision of detailed information and data from China and India" regarding the operation of these subsidy programs, Kirk said in a statement".............READ MORE
Wednesday, October 5, 2011
'Lawmaker calls out China on Internet ‘trade war’'
from wash times........
"The chairman of the House intelligence committee is demanding that the U.S. and its allies “confront Beijing” over what he calls “a massive and sustained intelligence effort by [its] government to blatantly steal commercial data and intellectual property” over the Internet from U.S. and other firms trying to compete with China.
"The chairman of the House intelligence committee is demanding that the U.S. and its allies “confront Beijing” over what he calls “a massive and sustained intelligence effort by [its] government to blatantly steal commercial data and intellectual property” over the Internet from U.S. and other firms trying to compete with China.
“Beijing is waging a massive trade war on us all,” Rep. Mike Rogers, Michigan Republican, told a hearing on cyberthreats Tuesday".............READ MORE
Monday, October 3, 2011
'Protectionism beckons as leaders push world into Depression'
from the telegraph..........
"Bank of England Governor Mervyn King called recently for a "grand bargain" of the world's major powers to break the vicious circle and ensure that the burden of adjustment does not fall on debtors alone.
"Bank of England Governor Mervyn King called recently for a "grand bargain" of the world's major powers to break the vicious circle and ensure that the burden of adjustment does not fall on debtors alone.
"The need to act in the collective interest has yet to be recognised. Unless it is, it will be only a matter of time before one or more countries resort to protectionism. That could, as in the 1930s, lead to a disastrous collapse in activity around the world," he said.
We are not there yet, but a global double-dip would take us to the edge. US democracy cannot allow America’s precious stimulus to leak out to countries that have bent their exchange rates, tax systems, and industrial structures towards predatory export advantage. It cannot let broad (U6) unemployment ratchet up to 20pc or more".............READ MORE
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