Tag Archives: protectionism

The take-away: "Negotiations must be equal, and China will not accept any consultation under unilateral coercion,” Gao said." China (and Russia) demand to be treated as equals, which would mean the US accepting multipolarity.  Is the US willing to go to the mat to maintain unipolarity? Stay tuned.ReutersChina warns U.S. not to open Pandora's Box, unleash trade ills on world Se Young Lee and Yawen Chen

By Marc Chandler This post was first published on Marc to Market While the pundits are talking trade wars, Chinese officials are taking the latest US provocations in stride. Pressure on China’s trade practices are not new. The US has been complaining about intellectual property violations since Bill Clinton was President. China’s trade practices have also raised the ire or US and Europe, which has resulted in tens of dozens of anti-dumping actions. China’s emergence on the...

I am generally not in favour of trade protection. I grew up in a country that had very extensive protection (tariffs, import quotas) on manufacturing goods, which was justified on a number of grounds – capacity to shift to defense industries; stable employment; and more abstractly, an expression of becoming a ‘modern’ nation, leaving our agrarian roots behind. The initial move to impose high tariffs was that a young industry would take time to develop – the so-called infant industry...

“At the same time, we are concerned about the negative impact as you consider remedial actions under Section 301 of the Trade Act could have on America’s working families,” the letter stated. “Applying any additional broad-based tariff as part of a Section 301 action would worsen this inequity and punish American working families with higher prices on household basics like clothing, shoes, electronics, and home goods.”... ReutersLarge U.S. retailers urge Trump not to hit China with tariffs...

MMT without specifically mentioning MMT. Seems to be the new tactic? Why Trump Is So Clumsy About Fighting 'Free Trade'There are better ways than simply slapping tariffs on imported goods. Marshall Auerback / AlterNetSee also at AlterNetBlowing Up Some of the Biggest Myths About the Economy and the Deficit Paul Sliker, Michael Palmieri and Dante Dallavalle / Democracy at WorkalsoBeat the PressWashington Post Says Stronger Patent and Copyright Protections Are "Free-Trade" Dean Baker |...

Trump’s series of threats this week was a one-two punch. First, he threatened to impose national security tariffs on steel and aluminum, primarily against Canada and Mexico (along with Korea and Japan). Then, he suggested an alternative: He would exempt these countries IF they agree to certain U.S. demands. But these demands make so little economic sense that they should be viewed as an exercise in what academia used to call power politics. Or in Trump’s world, Us versus Them, a...

Let me conclude that while I agree with Dean that lowering the value of the dollar may will certainly tend to increase the quantity of exports and lower the quantity of imports as well as tend therefore to increase employment somewhat, this does not mean that I necessarily support a "talking down the dollar" policy. One obvious problem, mentioned by Summers, is that a too obvious and aggressive such nationalist policy is likely to call forth retaliation from other nations, just as an...

European Central Bank chief Mario Draghi took a swipe at Washington on Thursday for talking down the dollar, a move he said threatened a decades-old pact not to target the currency and might force his bank to change its own policy. ReutersECB hits out at Washington for talking down the dollarBalazs Koranyi, Francesco Canepa

Bannon-backed Ray Moore defeated the  Trump-backed establishment candidate in the Alabama GOP rimary for senator. Fresh from victory, Bannon now smells blood in the water. Trump is now isolated between the GOP establishment he needs to get things done in Washington and his anti-establishment base that wants the "swamp" drained, which means the establishment of both parties. US business is bound at the hip to China as a result of Chinamerica policy. Since the GOP establishment is funded...

The BRICS group of emerging economies must promote trade liberalization and an open world economy, Chinese President Xi Jinping said at a business meeting on Sunday at the start of a three-day summit being held in southeastern China.The heads of state from Brazil, Russia, India, China and South Africa will gather in the city of Xiamen through Tuesday, giving China as host its latest chance to position itself as a bulwark of globalization in the face of U.S. President Donald Trump’s “America...