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Aggressively Pursuing – and Winning – Cases at the World Trade Organization:Today, the United States Trade Representative (USTR) is launching a new trade enforcement action against China at the World Trade Organization (WTO) targeting China’s unfair subsidies for its aluminum industry. This is the 25th WTO challenge of this Administration and the 16th against China alone. The United States has brought more WTO challenges over the last eight years than any other country. And we’ve won every single one of these challenges that has been decided.
Levying Anti-Dumping and Countervailing Duty Penalties on Foreign Industries and Trading Partners at the Highest Rate in 14 Years, Particularly Important to the Steel Industry: The Department of Commerce, U.S. Customs and Border Protection (CBP), and Immigration and Customs Enforcement (ICE) are enforcing 370 trade remedy orders that address dumped goods or unfairly subsidized imports and level the playing field for American workers and businesses.
New York: Producers in China and six other countries sold cold-rolled steel at unfairly low prices in the US market and will be taxed as much as 266% on the price, the Commerce Department said in a preliminary decision on Tuesday.
Except this is against our allies. I can understand the logic behind tariffs on countries who are dumping and driving down the costs. I can't understand starting trade wars with our allies.
Such as Brazil, who buys OUR COAL to process their steel.
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Except this is against our allies. I can understand the logic behind tariffs on countries who are dumping and driving down the costs. I can't understand starting trade wars with our allies.
Such as Brazil, who buys OUR COAL to process their steel.
This also is not a good time for a trade war with China. Just like coal and steel are interconnected for Brazil, national security and steel are interconnected for China, but not in the way Trump is alleging with these national security metals tariffs.
Trade agreements are made for several reasons ... only one being economic benefits with political and national security concerns other key factors.
Sure, we "paid" for the Chinese accession to the WTO with jobs. That payment, however, is made, the jobs gone with manufacturing jobs in the US again increasing as our economy adapts to the impact of higher imports from China and climbs out of the recession.
It is NOW that we need to call in our chips from China with the situation in Korea. If the talk is to be of "wars," we've already lost our soldiers but are now to make that sacrifice in vain?
Historically trade wars have often led to shooting wars. The American Revolution was partly due to a trade war. That's why the Boston Tea Party involved dumping of product off of a Brit ship into the harbor. The Brits were trying to squeeze the colonists w/ trade policy.
WWI and WWII both stemmed partly from trade wars. German U-boats sank US (and others') merchant ships by U-boats. There was a trade war issue in WWII. Various countries had imposed tariffs on Japan, which needed to be able to export its goods in order to import raw materials that it could not get domestically.
This was actually one of my reasons why I did not vote for Trump. Trade wars often lead to shooting wars. I was born after WWII. I do not wish to see WWIII in my lifetime.
Trump just throws *** at the wall to see what will stick. He doesn't care or even attempt to predict what his actions will provoke. It's all random pot shots. You have to be amused at the people that think that this idea is part of some bigger brilliant strategy Trump has in the wings.
Absolutely it could lead to serious consequences. That's the reason why every single President since WWII has moved carefully when it comes to the trade balance. This is just another play to the base. Does not matter a bit if what he is doing is dangerous or destructive as long as it has the appearance of "decisiveness".
This also is not a good time for a trade war with China. Just like coal and steel are interconnected for Brazil, national security and steel are interconnected for China, but not in the way Trump is alleging with these national security metals tariffs.
Trade agreements are made for several reasons ... only one being economic benefits with political and national security concerns other key factors.
Sure, we "paid" for the Chinese accession to the WTO with jobs. That payment, however, is made, the jobs gone with manufacturing jobs in the US again increasing as our economy adapts to the impact of higher imports from China and climbs out of the recession.
It is NOW that we need to call in our chips from China with the situation in Korea. If the talk is to be of "wars," we've already lost our soldiers but are now to make that sacrifice in vain?
Trump's timing is terrible.
Based upon my limited knowledge.... I agree with this.
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Here's why a trade war is no use -- China alone produces 50% of world's steel (the big green color slice). And, Trump said without steel, there is no country.
Heard some interviews in China last week. They couldn't care less, this has almost zero effect on them.
People don't seem to understand that it would take a trillion dollars of investment to bring the US primary metals industry up to the technological level of China or Japan. The idea that we are going to have thousands of new jobs suddenly appear in the US Steel industry is a pipe dream. Sure there will be a few, but NO ONE is going to invest the enormous sums to build new steel plants here in the USA. The old steel mills are pretty much ancient hulks of a former industry. Should know because I've been in a lot of them.
Aggressively Pursuing – and Winning – Cases at the World Trade Organization:Today, the United States Trade Representative (USTR) is launching a new trade enforcement action against China at the World Trade Organization (WTO) targeting China’s unfair subsidies for its aluminum industry. This is the 25th WTO challenge of this Administration and the 16th against China alone. The United States has brought more WTO challenges over the last eight years than any other country. And we’ve won every single one of these challenges that has been decided.
Levying Anti-Dumping and Countervailing Duty Penalties on Foreign Industries and Trading Partners at the Highest Rate in 14 Years, Particularly Important to the Steel Industry: The Department of Commerce, U.S. Customs and Border Protection (CBP), and Immigration and Customs Enforcement (ICE) are enforcing 370 trade remedy orders that address dumped goods or unfairly subsidized imports and level the playing field for American workers and businesses.
New York: Producers in China and six other countries sold cold-rolled steel at unfairly low prices in the US market and will be taxed as much as 266% on the price, the Commerce Department said in a preliminary decision on Tuesday.
I've said it before but it's worth repeating. There are antidumping and subsidy trade cases for unfair trade that are basically administrative - while they occur under a specific Administrations, outcomes do not reflect a policy nor a President decision.
Country dumps / subsidies ---> hurts US company or labor union that complains ---> US agencies investigate ---> Customs places tariffs in the amount that offsets the dumping or subsidy.
There are other types of cases that do involve a Presidential determination where, yes, Obama has been more aggressive than Bush. Here, the trade is "fair" but still impacting a US industry. While these cases may lead to trade "disputes" with WTO resolutions, they still follow an accepted path hence no talk of trade wars.
Trump is side-stepping the above with a never-before used "security provision" that comes across as bogus - hence the talk of trade wars.
The details don't come across well on tweets and may bore here but there are completely relevant to our real-world trade partners (and allies).
Heard some interviews in China last week. They couldn't care less, this has almost zero effect on them.
The other thing that people forget is that it would take a trillion dollars of investment to bring the US primary metals industry up to the technological level of China or Japan. The idea that we are going to have thousands of new jobs suddenly appear in the US Steel industry is a pipe dream. Sure there will be a few, but NO ONE is going to invest the enormous sums to build new steel plants here in the USA. The old ones are pretty much ancient hulks of a former industry. Should know because I've been in a lot of them.
Good point, not to mention the uncertainty that would have to be factored into the decision to build or expand a plant. A company could invest hundreds of millions of dollars in a new plant and have Trump tweet that he's removing the tariffs.
Good point, not to mention the uncertainty that would have to be factored into the decision to build or expand a plant. A company could invest hundreds of millions of dollars in a new plant and have Trump tweet that he's removing the tariffs.
THIS is a HUGE problem.
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