January 11, 2013 |
WASHINGTON -- A spike in American imports of consumer goods, autos and other products led to a sharp increase in the U.S. trade deficit in November from the prior month, the government said Friday. One immediate implication of the unexpectedly big widening of the trade deficit, to a seven-month high of $48.7 billion, is that the U.S. economic growth rate for last year's fourth quarter is likely to be marked lower, probably closer to a measly 1% annual rate. Yet the latest trade report may not be as bad as it looks.
November 30, 2012
Re "Gay rights? Not in Uganda," Editorial, Nov. 27 Of course you are spot-on when you write that "Americans should perhaps not be too smug in opposing the Ugandan law" proposing life imprisonment for being gay and imposing a duty to report homosexuality on the community at large. But the rationale for the admonishment goes much deeper than our own history. It has been widely reported that much of Uganda's recent fervor for passing such harsh laws has been instigated and encouraged primarily by religious zealots from the U.S. See, for instance, the much-honored documentary, "Call Me Kuchu.
November 27, 2012 |
As Japan grapples with its neighbors over contested islands, Japanese goodwill toward China and South Korea has hit record lows, a new government survey has found. Disputes over the Senkaku and Takeshima islands -- known by other names to China and South Korea -- has already taken an economic toll, helping drag down Japanese exports to their lowest point since the economic slowdown three years ago, Bloomberg News reported last week. Shipments to China, the biggest market for Japanese exports, slumped 11.6%.
November 17, 2012 |
Los Angeles Times WASHINGTON - When Susan Yip stood before a federal judge in San Antonio last month, she apologized tearfully for her role in smuggling American technology to Iran. Yip, a Taiwanese businesswoman, was sentenced Oct. 24 to two years in prison after pleading guilty to obtaining or trying to obtain more than $2.6 million worth of parts and materials that could be used in nuclear weapons, missile guidance systems and radio jammers. The scheme involved 599 transactions with 63 U.S. companies.
November 13, 2012 |
Step back, Saudi Arabia and Russia. The U.S. will become the world's top producer of oil by 2020, a net exporter of oil around 2030 and nearly self-sufficient in energy by 2035, according to a new report from the International Energy Agency. It's a bold set of predictions for a nation that currently imports some 20% of its energy needs. Recently, however, an "energy renaissance" has begun in the U.S., marked by a boost in oil, shale gas and bioenergy production made possible by new technologies such as hydraulic fracturing, or fracking, and horizontal drilling, said the report by the Paris agency, which acts as an energy watchdog for industrialized nations.
November 8, 2012 |
WASHINGTON -- U.S. exports rebounded strongly in September and helped narrow the monthly trade deficit to nearly a two-year low -- an encouraging sign for the economy in the face of slowing global growth. American exports have been one of the stars of the economic recovery but fell in the summer months amid recessions in the Eurozone and weaker growth in the Chinese economy. September, however, marked a sharp turnaround: Exports of goods and services surged 3.1% to a seasonally adjusted $187 billion, a new record high, the Commerce Department said Thursday.
November 7, 2012 |
If you're wondering what happened to cheap U.S. fuel, look to Mexico, Canada and even OPEC member Venezuela. U.S. refiners are selling diesel and gasoline to those and other countries at historically high levels, making the nation a net exporter of fuel for the first time since 1949, according to the Energy Department. Such enthusiastic exporting is one of the reasons that gasoline and diesel prices have been so high, energy experts say. Consumer advocates see it as harming motorists because gallons exported aren't available to U.S. gas pumps.
September 19, 2012 |
WASHINGTON — The U.S. current account trade deficit decreased more than 12% to $117.4 billion from April through June as exports increased along with money flowing into the country from foreign investments, the Commerce Department said Tuesday. The current account figure — a comprehensive gauge that includes trade in goods and services, as well as income and government transfers — came in below analysts' expectations. The deficit for the first quarter was a revised $133.6 billion.
September 18, 2012 |
WASHINGTON - The United States and China have filed international trade complaints against each other, escalating trade tensions amid a weakening global economy and a heated U.S. presidential race. The Obama administration launched a new enforcement action Monday with the World Trade Organization, alleging that China was illegally subsidizing exports of automobiles and auto parts. Beijing filed its own WTO complaint earlier Monday, challenging anti-dumping duties that Washington had levied on $7.2 billion in goods from China - including steel, tires and kitchen appliances - that the U.S. said were sold here below cost.
September 17, 2012 |
WASHINGTON -- The Obama administration is set to launch a new enforcement action with the World Trade Organization against China on Monday, alleging that the Asian economic giant is putting U.S. manufacturers at a competitive disadvantage by illegally subsidizing exports of autos and auto parts. The president, blending his roles as candidate and incumbent officeholder, will announce the move at the first of two campaign stops scheduled Monday in Ohio, a state where 1 in 8 jobs is tied directly or indirectly to auto manufacturing.