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Pipe makers win ITC case - a first against China |
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Written by Stumo
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Friday, 20 June 2008 |
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China's subsidies and tax breaks to its industries are tremendously
large. The alleged "low cost manufacturing" situs argument is
false. The U.S. International Trade Commission decided, in a 5-0
vote, that China subsidized its steel pipe industry to an extent
justifying 100 percent duties. The domestic steel pipe industry is the
winner.
Countervailing and anti-dumping duties are not
protectionist. They are neutralizing, not punitive. They
are pro-trade mechanisms because they eradicate trade distortion.
This is a final decision. The administration has no
discretion to alter it. The full Bloomberg article is below the
fold.
McCain has not commented. But Obama has:
Illinois Senator Barack Obama, the presumptive Democratic
nominee for president, in a statement today reacting to the
decision, said, ``The United States must always use the full
range of multilateral and bilateral tools to insist that China
and all other nations abide by the rules that govern the economic policies of nations.''
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Read more...
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U.S. backtracks on S Korea beef deal |
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Written by Stumo
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Friday, 20 June 2008 |
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The U.S. and S. Korea had a beef deal, where they would take our
beef, in spite of the mad cow fears relating to beef from animals over
30 months old. Koreans protested. A lot of them. In
the streets. Tens of thousands. Over beef.
President
Lee Myung-bak saw his approval ratings disappear. His cabinet
resigned. He told the U.S. he must renegotiate the beef
deal. The U.S. said no.
But today the NYT reports the U.S. said yes.
No beef to S. Korea over 30 months. All the while, the U.S. imports the
very same beef from proven mad cow disease haven... Canada.
Because we're "free traders." And proud of it. Even if no
one else is.
South Korea is a currency manipulator, a subsidizer, and taxes
U.S. products exported to them. None of that is addressed in the
S. Korea FTA. These are the causes of the trade deficit
worldwide. But we get a "free trade deal" and don't oppose it or
you are a "protectionist." Every other country can be a
protectionist, but not us.
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FL-Pres, OH-Pres: McCain up by 8 |
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Written by Stumo
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Thursday, 19 June 2008 |
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Rasmussen Florida: McCain leads Obama 47-39%.
The Quinnipiac poll, showing Obama with a 4 point lead, is an outlier. Pollster.com's aggregate is McCain 45.1 to Obama 42.8%.
Rasmussen Ohio: McCain basically tied with Obama 44-43%. Two recent polls had Obama up by 6 or 11. The difference is in how they weigh the voting samples.
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CO-Sen: Udall widens lead |
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Written by Stumo
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Thursday, 19 June 2008 |
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Rasmussen:
Mark Udall (D) increases his lead over Bob Schaffer (R) for the third
straight month. 49-40%. They are competing for Wayne
Allard's (R) open seat.
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Read more...
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Big energy price increases in China |
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Written by Stumo
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Thursday, 19 June 2008 |
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16-18% price increases in regulated gas and diesel prices.
President Hu Jintao and Prime Minister Wen Jiabao took the highly
unusual step on June 5 of jointly ordering that tractors and other farm
vehicles be given top priority for all supplies of diesel — usually the
kind of measure that would be handled by far more junior officials.
Farmers were exempted on Thursday night from the latest increase in
fuel prices, as were three provinces damaged in earthquakes last month:
Sichuan, Shaanxi and Gansu provinces.
Power plants that rely on oil have also been shutting down because of
high prices. While China relies mainly on coal and hydroelectric power
for electricity generation, oil-fired plants are important in
southeastern China.
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