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September 22, 1996 | RONE TEMPEST, TIMES STAFF WRITER
A Barbie doll is for sale at the Anaheim Toys "R" Us store in a bright cardboard-and-cellophane box labeled "Made in China." The price is $9.99. But how much will China make from the sale of the pert fashion doll marketed around the world by Mattel Inc. of El Segundo? About 35 cents, according to executives in the Asian and American toy industry--mostly in wages paid to 11,000 young peasant women working in two factories across the border from Hong Kong in China's Guangdong province.
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BUSINESS
October 10, 2009 | Neil Irwin, Irwin writes for the Washington Post
Friday's news that the trade deficit narrowed in August shows the silver lining from dollar's steep drop. The greenback has been declining relative to other major currencies for months. Concerns are growing that foreign investors might curtail their investments in dollar assets. But so long as the slide remains gradual and orderly, economists generally view it as a plus for the U.S. economy. Though a weak dollar makes imported goods such as oil more expensive, it boosts the competitiveness of U.S. exporters, helping to rebalance an economy that has been skewed away from exports for years.
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BUSINESS
February 7, 2008 | From Reuters
The Commerce Department on Wednesday set preliminary anti-dumping duties of as much as 210% on millions of off-road tires from China that it said were being sold in the United States at unfairly low prices. The tires were the sixth Chinese product to be hit with U.S. anti-dumping duties since the start of the year. The others include nails, certain steel pipe, a teeth-whitening ingredient and laminated woven sacks used to package items such as dog food and bird seed.
BUSINESS
February 12, 2009 | Associated Press
The U.S. trade deficit fell to the lowest level in nearly six years in December as the recession depressed demand for imports. In 2008, the trade deficit fell for a second straight year and economists expect an even bigger decline this year. The Commerce Department said Wednesday that December's deficit fell 4% to $39.9 billion from $41.6 billion in November. That was higher than the $36 billion deficit economists expected. For the year, the deficit shrank 3.3% to $677.1 billion.
BUSINESS
September 18, 1995 | Times Staff Reports
Tracking Trade and the Peso: A clue as to whether Southern California exporters are adjusting to the effects of Mexico's peso devaluation will be presented Wednesday when the U.S. Department of Commerce releases July balance of trade figures. Local exporters who had been reaping big rewards from the North American Free Trade Agreement have been hammered by the Mexican currency crisis that began last December.
BUSINESS
May 25, 1990 | ROBERT E. DALLOS, TIMES STAFF WRITER
Japan Air Lines, which already owns more Boeing 747s than any other airline in the world, Thursday placed firm orders for 20 of the latest 747-400s and took options on 34 more in a transaction that could ultimately be worth $9.34 billion. If all of the options are exercised, the last of the planes would delivered in 1999. JAL has already taken delivery of five 747-400s and is awaiting delivery of 15 others from an earlier order. The orders will give an important boost to the U.S.
BUSINESS
June 30, 1988 | Associated Press
Led by General Motors, Ford and Boeing, the nation's top exporters had a banner 1987, as a cheaper dollar pushed overseas sales up and in turn helped chip away at the trade deficit, Fortune magazine says. Exports by Fortune's 50 top-ranked companies rose 8% to nearly $80 billion last year, while total U.S. exports jumped 11% to $253 billion, the largest one-year increase this decade, the magazine said in its July 18 issue. And more encouraging, the trend shows no sign of abating.
BUSINESS
May 21, 1992 | KAREN TUMULTY, TIMES STAFF WRITER
The nation's trade deficit surged 77% in March as consumers stepped up their purchases of imported goods and overseas sales of U.S. products sagged, the Commerce Department reported Wednesday. The March deficit of $5.8 billion was a sharp setback, coming a month after the trade shortfall had dropped to its lowest level in nine years.
BUSINESS
June 1, 1988 | KARL SCHOENBERGER, Times Staff Writer
Japan's trade minister urged the chief executives of 302 leading manufacturers Tuesday to help reduce the country's stubborn trade surplus by importing more foreign products, even if it means buying more goods from their own overseas operations.
BUSINESS
October 11, 2008 | From the Associated Press
The U.S. trade deficit edged down in August as foreign oil imports retreated from a record high the previous month, a drop that more than offset a setback in exports. The Commerce Department said Friday that the trade deficit declined by 3.5% in August to $59.1 billion, the smallest imbalance since June. The deficit is expected to shrink even further in coming months as a severe economic slump in the U.S. depresses demand for oil and other imported goods.
BUSINESS
September 18, 2008 | From the Associated Press
The deficit in the broadest measure of American trade widened in the spring, reflecting a big jump in the country's foreign oil bill. The Commerce Department on Wednesday reported that the current account trade deficit increased 4.3% to $183.1 billion in the April-June quarter, compared to a revised deficit of $175.6 billion in the first quarter.
BUSINESS
June 21, 2008 | From the Associated Press
U.S. steel pipe manufacturers, who have been battling a surge in imports from China, won a major victory Friday when the International Trade Commission cleared the way for the imposition of stiff penalty tariffs for the next five years. The commission voted 5 to 0 that the U.S. industry was being harmed by the import of circular steel pipe. The decision marked the first time a U.S. industry had won a decision to impose tariffs on a Chinese product based on the argument that the Chinese government was unfairly subsidizing an industry.
BUSINESS
June 12, 2008 | From the Associated Press
China's overall trade surplus shrank 10% in May from a year earlier, though its contentious gaps with the United States and Europe continued to expand -- suggesting more trade tensions ahead. Meanwhile, the government also reported Wednesday that China's index for producer prices, an indicator of inflation, jumped 8.2% in May, the fastest rise in more than three years, thanks to higher costs for oil and other raw materials compared with a year earlier.
BUSINESS
May 16, 2008 | From Times Wire Services
The Bush administration has declined to cite China for manipulating its currency to gain unfair trade advantages against the United States. The finding came despite pressure in Congress for penalties because of America's growing trade deficit with China, which last year hit an all-time high of $256.3 billion. The administration said China needed to address the "substantial undervaluation" of its currency compared with the dollar.
BUSINESS
March 12, 2008 | From the Associated Press
The United States' trade deficit grew larger in January as imports -- including crude-oil prices -- zoomed to all-time highs. The latest snapshot of trade activity, reported by the Commerce Department on Tuesday, showed that the country's trade gap increased to $58.2 billion. That was up from a trade shortfall of $57.9 billion in December and was the highest since November. Imports of goods and services climbed to a record high of $206.4 billion in January. The United States' voracious appetite for imported crude oil, with prices skyrocketing to the loftiest on record, figured into the increasing demand for overall imports.
BUSINESS
March 22, 1995 | MARTHA M. HAMILTON, WASHINGTON POST
Mexico had its first monthly trade surplus in more than four years in February, according to preliminary figures compiled by the central bank. It is a sign that one of the anticipated benefits of the devastating peso devaluation may be emerging. Analysts and U.S. government officials said the speed with which the turnaround in trade apparently occurred suggests that Mexico ultimately may be able to pull out of its economic nose dive.
BUSINESS
December 22, 2002 | James Flanigan
An ancient Chinese proverb begins with the observation that "a horse cannot gain weight if not fed with extra fodder during the night." In that same spirit, China's economy is putting on the pounds, importing huge amounts of material from around the globe as it tries to make the transition from socialism to capitalism -- all while still being ruled by the Communist Party. The rise of China as an exporter is, of course, well established.
BUSINESS
February 15, 2008 | From Bloomberg News
The U.S. trade deficit shrank more than forecast in December and showed the first annual drop since 2001 as the faltering economy eroded demand for imported autos and consumer goods. The gap narrowed 6.9% from November to $58.8 billion, the Commerce Department said Thursday. Imports fell 1.1%, and exports rose 1.5%.
BUSINESS
February 7, 2008 | From Reuters
The Commerce Department on Wednesday set preliminary anti-dumping duties of as much as 210% on millions of off-road tires from China that it said were being sold in the United States at unfairly low prices. The tires were the sixth Chinese product to be hit with U.S. anti-dumping duties since the start of the year. The others include nails, certain steel pipe, a teeth-whitening ingredient and laminated woven sacks used to package items such as dog food and bird seed.
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