If the American consumer doesn't buy, China doesn't export... let's make them eat it while we still have the power to do so... The EU doesn't have these problems, they aren't "free marketers" which is bullshit talk for "let's edge ever closer to a one world government"... Europeans have trade agreements with Japan, maybe with everybody that stipulate simply, one EU worth of goods in and an equal amount out... that makes eminent sense to me,. you look at your trading partners available exports and say "hmmmm what have they got that is better than what we have?" and your quality of life goes up...
Pay back time coming. http://www.bloomberg.com/apps/news?pid=20601087&sid=a7nGNZzouDOM China Probes âDumpingâ of U.S. Auto, Chicken Products (Update1) Share | Email | Print | A A A By Bloomberg News Sept. 13 (Bloomberg) -- China announced a probe into the alleged dumping of American auto and chicken products, two days after U.S. President Barack Obama imposed tariffs on imports of tires from the Asian nation. Chinese industries have complained that theyâre being hurt by âunfair trade practices,â the nationâs Ministry of Commerce said on its Web site today. The ministry is also looking into subsidies for the products, it said. It didnât specify the importsâ value. The European Central Bank said last week that rising protectionism may hamper world trade and undermine the global economyâs recovery from recession. The U.S. placed tariffs starting at 35 percent on $1.8 billion of tire imports from China, backing a United Steelworkers union complaint against the second-largest U.S. trading partner. âWhile thereâs friction, I suspect that the two nations will keep any disputes under control,â said David Cohen, an economist at Action Economics in Singapore. âThey understand that theyâre increasingly dependent as trading partners.â Dumping is selling goods for less than the cost of producing them. Chinaâs commerce ministry said yesterday that it âstrongly opposesâ the U.S. decision on tires and may refer the case to the World Trade Organization. âRetaliatory Spiralâ âA sluggish global recovery and rising unemployment may increasingly tempt governments to adopt restrictive trade policy measures, which could lead to a retaliatory spiral of ever harsher trade restrictions and tensions,â the Frankfurt-based ECB said in its monthly bulletin. A resurgence of trade protectionism would âsignificantly impair the global recovery processâ and reduce growth potential in the long run, it said. Todayâs three-paragraph statement from the Chinese commerce ministry didnât refer to the tire dispute. âChina has always steadfastly opposed trade protectionism,â the ministry said, adding that the nation was âwilling to continue acting in concert with other nations to promote a global economic recovery as soon as possible.â The dumping and subsidy probes involve âsomeâ auto and chicken imports from the U.S., it said, without specifying which ones. Tire Case The U.S. decision in the tire case was a blow to Chinese producers such as GITI Tire Pte Ltd., the largest Chinese tire maker, and U.S. retailers of low-cost imports. âBy taking this unprecedented action, the Obama administration is now at odds with its own public statements about refraining from increasing tariffs,â Vic DeIorio, executive vice president of GITI Tire in the U.S., said in a statement. âThis decision will cost many more American jobs than it will create.â The U.S. duties likely wonât spark a trade war, according to White House spokesman Robert Gibbs. âFor trade to work for everybody it has to be based on fairness and rules,â Gibbs said. âWeâre simply enforcing those rules and would expect the Chinese to understand those rules.
Would it not be interesting as to what the Chinese might do ....if the US all of a sudden changed its tax and legal structure such that production prices were immediately more competitive to that of BRIC´s in general....???? What would BRIC say then ....? Unfair taxation ...? What the politicos and Americans in general do not understand is that a dramatic changeover to a 15% consumption tax only ....would produce more tax revenue than the current structure....and would make the US far more price competitive.... Instead of US tariff impostions....the US would be squawking about other countries tariffs..... .................................................. And how about this... No taxes of any kind on any type of securities....bonds....stocks...etc.... that would be traded only on a first come first served utility type direct access electronic exchange..... The US would own all listings....and every make shift way for foreigners to participate as well....ie BATS model....
It seems like China (exporter) is the one that would hurt the most from a trade war with the US (importer).
U.S. tariff decision on Chinese tires comes at huge price BEIJING, Sept. 12 (Xinhua) -- U.S. President Barack Obama decided Friday to impose punitive tariffs on all car and light truck tires coming from China, raising speculation of surging American trade protectionism and potential damage to U.S.-China trade relations. Obama's decision came amidst enormous pressure from the United Steelworkers and other unions, which claim that tires imported from China have cost at least 5,000 American workers their jobs. However, the stiff tariff, which will ultimately raise tire prices in the U.S., could affect 100,000 tire-related jobs in America, including such sectors as imports, distribution and retail. The U.S. International Trade Commission, which ruled that a rising tide of Chinese tires into the U.S. hurts American producers, recommended a 55-percent tariff in the first year, 45 percent in the second year and 35 percent in the third year. Obama settled on slightly lower penalties -- an extra 35 percent in the first year, 30 percent in the second and 25 percent in the third, said White House press secretary Robert Gibbs. Locally, tire supplies have already been affected. Phillip Nussbaum, president of A to Z Tire in Amarillo, Texas, told ProNews 7 that many suppliers have delayed receiving shipments from China for fear that their products would be no longer competitive due to the tariff. The biggest hit would be felt by American consumers who now buy50-dollar Chinese-made tires and can't afford U.S. brands that cost as much as 150 dollars, many distributors warned. Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics in Washington, D.C., said Obama may have bowed to the pressure to placate the unions and pro-labor Democrats important to the passage of his deadlocked health care reforms. It is a huge regret that crucial China-U.S. trade relations are once again disrupted by political disputes in the United States. The biggest price may be the wrong message the U.S. government sent across a world that is still struggling to combat the worst economic recession in decades despite early signs of recovery. Many countries have suggested that the United States talks tough against protectionism only when its own industries are not threatened. U.S. rhetoric on free trade has already been in doubt due to a "Buy American" provision in the U.S. stimulus package. Vic DeIorio, executive vice president of GITI Tire, the largest tire manufacturer in China, said the U.S. government has jeopardized its image as a supporter of free trade by taking "this unprecedented action." "The Obama administration is now at odds with its own public statements about refraining from increasing tariffs above current levels," DeIorio said. The president may face even stronger pressure at the economic summit of the Group of 20 leading rich and developing nations in Pittsburg on Sept. 24-25. That's because at the summit the leaders are expected to reaffirm their commitment to anti-economic crisis measures. To generate jobs and restore the economic health, U.S. trade policy must focus on cooperation rather than confrontation with its trading partners, said Patrick Rossenstie, executive director of the U.S. Trade Alliance to Promote Prosperity. The American government has to draw a lesson from the Great Depression in the 1930s when it imposed heavy import tariffs, a move that triggered a global trade war and exacerbated the crisis. Seventy years on, smarter actions are required to prevent a repeat of that painful history. The latest U.S. decision was not one of them. http://news.xinhuanet.com/english/2009-09/12/content_12041545.htm
Enough politics on China; try something different from China: http://www.youtube.com/watch?v=BVMXEnL8liM&feature=PlayList&p=142F94836EF0AAD3