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Trade War

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BUSINESS
January 23, 1987
Chances are slim that American and Common Market negotiators can prevent the outbreak next week of a potentially dangerous trade war, the Europeans' top trade official said. "We are still so far apart that it will take more than inventive, creative imagination to find a solution," Willy de Clercq said before flying to Washington to prepare for talks with U.S. officials.
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BUSINESS
February 13, 2013 | By Ricardo Lopez
TULARE, Calif. -- The annual World Ag Expo held in Tulare opened its gates to thousands of visitors Tuesday and organizers expect the three-day event to draw about 100,000 visitors, pumping millions of dollars into the Central Valley county's economy. Billed as the largest agricultural exposition of its kind in the world, the event is part county fair and part trade show. The massive event draws farmers and others interested in the latest cost-saving technologies or new agricultural practices.  Vendors brought massive tractors, work trucks, tomato harvesters and all sorts of gadgets to the sprawling 2.6 million square feet of exhibiting space.  "Not only do buyers and sellers come together at World Ag Expo to do business, but agricultural producers also attend the show to expand their knowledge of agricultural issues, production methods and international trade," said Jerry Sinift, the International Agri-Center's chief executive officer.   One thing, however, was clear at the expo: Dairy is king.
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NEWS
November 17, 1992
In another attempt to end the simmering dispute that threatens to become a full-scale trade war, American and European negotiators sit down in the U.S. capital beginning Wednesday to tackle the issue of agricultural subsidies. U.S. Trade Representative Carla Anderson Hills and Agriculture Secretary Edward R. Madigan will meet with top European Community officials Frans Andriessen and Ray MacSharry to seek compromise on the impasse before Dec.
BUSINESS
February 8, 2013 | By Don Lee
In an encouraging sign for the American economy, the U.S. trade deficit fell sharply in December as exports grew at a solid pace while imports of oil and many other goods shrank from the prior month, the Commerce Department reported Friday. The big drop in the deficit, to $38.5 billion in December from $48.6 billion in November, indicates that the trade picture was not as bleak at year's end as previously thought. And that should push up the fourth-quarter change in gross domestic product into positive territory from the 0.1% decline in the government's initial estimate.
CALIFORNIA | LOCAL
April 19, 1985
I find the hysterical tone of letters in The Times (April 7) regarding the U.S.-Japanese trade deficit very disturbing. A few excitable Americans seem ready to fight another Pacific war, whether it be real or imaginary. Dredged up key words like "Pearl Harbor," "sneak attack," and "stab in the back" cannot fail to stir the patriotism of our country--and revive past hatreds and prejudice. The letter writers are not entirely responsible for their actions. They are merely echoing the anti-Japanese rhetoric of their representatives in Washington.
BUSINESS
February 3, 2013 | By Ricardo Lopez, Los Angeles Times
American and Mexican tomato growers appear to have avoided a trade war - the U.S. Commerce Department has released a draft of an agreement governing the price of tomato imports from Mexico. U.S. growers in Florida had accused their Mexican counterparts of selling their tomatoes below fair market value, a practice known as dumping. The new agreement, which sets a minimum wholesale price for tomatoes, would replace a trade pact that went into effect 17 years ago. Francisco Sanchez, the undersecretary of commerce for international trade, said in a statement Saturday that the agreement puts in place "robust enforcement that will allow American workers and the U.S tomato industry to compete on a level playing field.
NEWS
April 4, 1985 | Associated Press
Treasury Secretary James A. Baker III said today that he is not sure that the United States would win a trade war with Japan. Baker told a Senate hearing that while "we do need more access to Japanese markets for beef, agricultural products, telecommunications and a lot of other things . . . I'm just not sure that the way to get there is to have an all-out trade war." "I'm not sure we'd win that," he told the Senate Appropriations subcommittee on foreign operations.
BUSINESS
July 25, 1997 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
"Euro-U.S. Trade War!" was the story the Brussels press corps was itching to write this week. But as economists and business experts predicted, it didn't happen. Europe and America, they maintained, just couldn't afford it. "We are like an old, married couple," Paul Horne, chief international economist at Smith Barney, an investment bank, said in Paris. "We may squabble, but we need each other too much." In the end, after months of white-knuckle suspense and escalating rhetoric, Boeing Co.
NEWS
May 18, 1993
A world trade war: The mere thought sends shivers down the spines of the globe's economists and business leaders. Yet the risk may be greater than at any time since the Great Depression. A World Report special edition.
NEWS
January 26, 1987 | Associated Press
Foreign ministers of the European Community instructed the bloc's top trade negotiator today to resume efforts to avert a "seriously damaging" trade war with the United States. The move comes just days before the threatened imposition of punitive U.S. import duties against Common Market farm products. The 12 ministers said they wanted to avoid an escalation of trade tensions and called on the Reagan Administration to "make its contribution" to finding an equitable compromise.
BUSINESS
February 3, 2013 | By Ricardo Lopez, Los Angeles Times
American and Mexican tomato growers appear to have avoided a trade war - the U.S. Commerce Department has released a draft of an agreement governing the price of tomato imports from Mexico. U.S. growers in Florida had accused their Mexican counterparts of selling their tomatoes below fair market value, a practice known as dumping. The new agreement, which sets a minimum wholesale price for tomatoes, would replace a trade pact that went into effect 17 years ago. Francisco Sanchez, the undersecretary of commerce for international trade, said in a statement Saturday that the agreement puts in place "robust enforcement that will allow American workers and the U.S tomato industry to compete on a level playing field.
NEWS
October 22, 2012 | By Jim Puzzanghera
President Obama and Mitt Romney both talked tough on trade relations with China during Monday's debate. But they sparred over how best to get China's currency more in line with the U.S. dollar. U.S. officials have complained for years that China was keeping its currency, the renminbi, too low relative to the dollar in order to make Chinese goods less expensive for U.S. consumers. Some in Congress have pushed the Treasury Department to formally declare China a currency manipulator, which would trigger negotiations with Beijing over the issue.
NATIONAL
September 26, 2012 | By Seema Mehta and Christi Parsons, Los Angeles Times
BEDFORD HEIGHTS, Ohio - President Obama and Mitt Romney hurled accusations at each other over their economic visions and trade policies as they sprinted across Ohio on Wednesday, a reflection of the fierce campaign being waged in this battleground state. Days before the two men meet for their first presidential debate, Romney said that Obama had failed to lead and that he would not be able to paper over his record with his oratorical skills. "A lot of people can talk. Talk is cheap," Romney told thousands of people gathered at a wire manufacturer here.
BUSINESS
September 18, 2012 | By Jim Puzzanghera and Michael A. Memoli, Los Angeles Times
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.
OPINION
April 11, 2012
Former Pennsylvania Sen. Rick Santorum unexpectedly ended his quest for the presidency Tuesday, all but ensuring that Mitt Romney will claim the GOP nomination. But with two other Republicans still in the race, Romney and his "super PAC" allies may be tempted to keep doing what they have been throughout the primary campaign: barrage his opponents with attack ads and pander to the most conservative elements of the party. We hope Romney will instead address the shortcoming that Santorum's shoestring campaign drew attention to - the lingering questions about what Romney really stands for. And in so doing, he needs to prove that he's not as far outside the American mainstream as some of the stances he's taken in the primaries suggest.
BUSINESS
January 25, 2012 | By David Pierson
President Obama fired a shot across China's bow during his State of the Union address Tueday, pledging to lure offshore jobs back to the U.S. and target unfair Chinese trade practices with a special enforcement unit. The response in China, however, was muted at best -- perhaps drowned out by the barrage of fireworks across the country as it continues to celebrate the weeklong Spring Festival national holiday. "What's worth noting is that Obama mentioned China five times in his State of the Union speech," wrote the Beijing-based Legal Evening News, one of the few Chinese newspapers to acknowledge the mention of China in the president's address.
NEWS
March 22, 1986 | NORMAN KEMPSTER, Times Staff Writer
Secretary of State George P. Shultz warned President Francois Mitterrand and Premier Jacques Chirac of France on Friday that the United States is ready to fight a trade war with the European Communities to protect its billion-dollar-a-year grain market in Spain and Portugal.
BUSINESS
November 19, 2003 | Tom Petruno, Times Staff Writer
Rising worries about U.S. trade disputes with Europe and China sent the dollar's value tumbling Tuesday, and Wall Street went with it. The euro hit its highest level against the greenback in the European currency's nearly five-year history while the yen rose to a three-year peak. In the stock market, the Dow Jones industrial average dropped 86.67 points, or 0.9%, to 9,624.16, its seventh loss in eight sessions.
OPINION
October 17, 2011
After years of partisan wrangling that has blocked Congress from taking major steps to boost the flagging economy, Republicans and Democrats finally found something they could agree on last week when they approved long-stalled free-trade agreements with Panama, South Korea and Colombia. It's a big victory for the Obama administration, the U.S. economy (which is expected to benefit from the pacts to the tune of $12 billion a year added to the gross domestic product) and for Congress itself, whose reputation as a do-nothing pack of squabblers has caused its approval ratings to plummet.
BUSINESS
October 12, 2011 | By Kathleen Hennessey, Los Angeles Times
The Senate passed legislation aimed at sanctioning China and other countries that hold down the value of their currencies and undercut American manufacturers. In a rare bipartisan vote, 16 Republicans joined with Democrats to approve the legislation, which was billed as a lifeboat for U.S. companies hurt by a flood of inexpensive Chinese imports. But for supporters, the 63-35 victory probably will be short-lived. Republican leaders in the House, as well as some U.S. business groups, have warned that the bill could trigger a trade war with China, and the House isn't expected to take up the legislation.
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