October 4, 2010 |
Freakish fall weather has resulted in a national kimchi crisis, causing South Korean consumers to clutch at their purses, hearts and stomachs as they seek to deal with a shortage of the oblong-shaped cabbage used to make the ubiquitous spicy dish. With heavy September rains ruining much of the Napa, or Chinese, cabbage crop, prices have jumped fourfold to more than $10 a head. In response, the federal government last week announced a temporary reduction in tariffs on Chinese-imported cabbage and radishes in a plan to rush an additional 100 tons of the staples into stores this month.
October 1, 2010 |
China on Thursday warned that a bill passed by the U.S. House enabling tariffs against currency-manipulating countries could damage ties between the world's two biggest economies. Foreign Ministry spokeswoman Jiang Yu said China "firmly opposes" the legislation and told American lawmakers not to engage in protectionism. Earlier in the day, a spokesman for the Commerce Ministry told state-run media that the legislation violated free-trade rules and would do little to narrow the United States' massive trade deficit with China.
October 1, 2010
Twenty years ago, Americans were alarmed by reports of Japanese conglomerates buying major U.S. assets. Now we're worried about China selling us too many cheap consumer products. The latter problem has a much more profound effect on the U.S. economy: The enormous trade imbalance with China ? we buy far more of their goods than they buy of ours ? has caused this country to lose millions of manufacturing jobs over the past decade. The imbalance stems at least in part from China's undervalued currency, which artificially lowers the cost of the goods it exports.
September 30, 2010 |
China on Thursday warned that a bill passed by the U.S. House that would allow tariffs against currency manipulators could damage ties between the world's two biggest economies. Foreign Ministry spokeswoman Jiang Yu said China "firmly opposes" the legislation and told American lawmakers not to engage in protectionism. Earlier in the day, a spokesman for the Commerce Ministry told state-run media that the legislation violated free trade rules and would do little to solve America's trade deficit.
September 30, 2010 |
With the politically charged issue of unemployment weighing heavily in midterm elections, lawmakers took a big step Wednesday toward punishing China for holding down the value of its currency ? a policy the Obama administration and other critics say hurts U.S. companies and workers. In one of their final actions before returning to campaign in their districts, members of the House voted 348 to 79, with dozens of Republicans joining in support, for a bill that would open the way for the U.S. to slap tariffs on Chinese goods.
November 4, 2009 |
Who could resent the attention being showered on electric cars? Stylish and clean, they're the darling of the renewable-energy crowd, which is hailing the scheduled rollout of several e-powered models next year as a major blow against global warming. Well, Eduardo Leao, for one. He's executive director of the Brazil's largest sugar industry association, called UNICA, and he insists that cane-based ethanol produced in massive quantities by his members is a better alternative fuel for the environment than electricity.
September 15, 2009 |
BEIJING -- Beijing filed a World Trade Organization complaint today over new U.S. tariffs on Chinese tires, stepping up pressure on Washington in the latest in a series of trade disputes. The conflict is a potential irritant as Washington and Beijing prepare for a summit of the Group of 20 leading economies in Pittsburgh on Sept. 24-25 to discuss efforts to end the worst global downturn since the 1930s. The Chinese complaint to the WTO in Geneva triggers a 60-day WTO process in which the two sides are to try to resolve the dispute through negotiations.
September 14, 2009 |
China fired back against proposed tariffs on Chinese tires imported to the United States by announcing today that an anti-dumping and anti-subsidies investigation would be launched on American auto parts and chicken products, state media reported. The move could signal the start of more trade tensions between the massive trade partners at a time when the two economic powers were expected to lead the globe out of the financial crisis. "This case is perceived as a turning point in U.S.-China relations and likely to represent a trend toward subtle, if not overt, forms of protectionism from both sides," said James Zimmerman, a partner in the law firm of Squire Sanders & Dempsey in Beijing.
September 13, 2009 |
A White House official Saturday defended President Obama's decision to levy steep tariffs on tires from China, denying that it was an act of trade protectionism, as Chinese officials charged, or was intended to make a statement about the administration's broader strategy on trade policy. "This is certainly not an action directed against globalization," said the official, who requested anonymity when discussing White House thinking, a day after Obama moved to add a 35% duty on automobile and light-truck tires.
September 12, 2009 |
In a decision that could roil trade tensions with Beijing, President Obama agreed Friday to impose hefty tariffs on tires imported from China. The decision came after the U.S. International Trade Commission, a federal agency, determined that a surge of Chinese-made tires had disrupted the domestic market and cost thousands of jobs in the U.S. Within 15 days, the U.S. would add a duty of 35% in the first year, 30% in the second and 25% in...