Friday, 23 August, 2019

Trump's trade demand to China is pathetically small

U.S. pork in a meat case Trump's trade demand to China is pathetically small
Patty Aguilar | 07 March, 2018, 21:25

For years, US businesses have complained about Chinese misappropriation of trade secrets and copyrighted works, as well as flagrant violations of patent and trademark rights.

The news comes amid White House furore over trade policy, with President Donald Trump's top economic advisor Gary Cohn announcing his resignation late Tuesday after losing a bruising internal battle over whether to impose punishing tariffs on steel and aluminium.

What Our Economists Say Tariffs on solar panels and washing machines, implemented just recently, were advertised well in advance, prompting foreign producers to rush to get goods onshore ahead of time in the fourth quarter. "Last year we had a trade deficit of nearly 800 billion dollars".

Trump says in a separate tweet that the U.S.is "acting swiftly" on intellectual property theft.

There are fears that the tariffs could jeopardize talks on the North American Free Trade Agreement (NAFTA) linking Canada, Mexico and the United States. While Chinese officials have sometimes intervened on behalf of aggrieved US companies, Chinese IP thieves are notorious for continuing their operations at different locations or under different names, eluding prosecution. Trump ordered a renegotiation of the trade pact to offer terms more favorable to Washington.

DA leader says Cape Town will not hit 'day zero' this year
Maimane applauded the magnificent response of residents who rolled up their sleeves and "got stuck in" to solve the issue. With a population of about 6 million, Cape Town has been hit by the worst drought in history.

Oil prices fall as Cohn departure raises trade war fears
The United States will be the largest oil producer in the world by 2023, the International Energy Agency said Monday. Production in 2017 rose by 670,000bpd as drillers added 200 rigs, "beating all expectations", the IEA said.

Uber's self-driving trucks begin hauling freight in Arizona
The limiting factor for the self-driving effort now is city navigation. During the trip, an Uber employee was monitoring the autonomous truck.

The report also said the goods deficit widened to USD76.5 billion in January from USD73.7 billion in December, while the services surplus inched up to USD19.9 billion from USD19.8 billion.

The figures also put trade on track to subtract from GDP growth in the first quarter.

Meanwhile, the Commerce Department said the value of imports edged down by less than a tenth of a % to USD257.5 billion in January. Exports fell 1.3 percent from December, the most in more than a year, while imports were little changed. But exports of consumer goods rose to a record high and those of motor vehicles, parts and engines were the highest since July 2014. Imports were unchanged at $257.5 billion in January amid declines in imports of cellphones and civilian aircraft.

Imports sat at $2.9 trillion in 2017, above $2.3 trillion in exports. This put January up 16.2 per cent over January of 2017, with exports trailing imports.

In a third report on Wednesday, the Labor Department said worker productivity was flat in the fourth quarter instead of declining at a 0.1 percent rate as it had reported last month. Sluggish productivity could make it hard for the Trump administration to achieve its 3 percent growth target.

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