Bloomberg News carried an explosive account of a November 12th meeting of the World Trade Organization Committee on Budget, Finance & Administration at which the US raised “the possibility of blocking the approval of the institution’s biennial budget and effectively halting its work starting next year.” If a budget isn’t approved by consensus of the […]
Chinese leaders unhinged as economy weakens
Trade correspondent L.C. reports: An economic summit of world leaders held in Papua New Guinea ended in acrimony yesterday, the Wall Street Journal reported today, “as a fight over Chinese trade practices cast doubt over the ability of Washington and Beijing to resolve their trade battle soon. For the first time in the Asia-Pacific Economic […]
With NAFTA 2 concluded, will President join allies against China trade misbehavior?
Trade correspondent L.C. reports: The NAFTA renegotiation was finally concluded with the October 1st release of the text of the revised agreement. This will allow it to be signed by the three member countries before Mexican President Enrique Peña Nieto leaves office on December 1st. Getting the NAFTA re-do out of the way raises the […]
Trump threatens Japan and Canada with ruinous auto tariffs
Trade correspondent L.C. reports: President Trump threatened Japan with unspecified action over its persistent trade surplus with the US. The threat came in a telephone conversation with Wall Street Journal assistant editor James Freeman, who quoted the President as saying that the US has “good relations” with Japan but that he “is still bothered by […]
US-EU “deal” — a quick fix but no long-term clarity
Trade correspondent L.C. reports: President Trump met with European Commission President Jean-Claude Juncker for over three hours at the White House on July 25th. The leaders emerged with what they claimed to be a significant deal on trade, though the meeting was not a formal negotiation and the outcome was vague and mainly pointed to […]
