Tag Archives: wto

Business/Economics, International, U.S.

Kit Bashing & What Economic Recovery? United States to help Japan’s economy by dropping illegal tariffs, pay back Japan $26 million in illegal tariffs

“We have finally put these burdensome and potentially damaging trade disputes behind us.”-Ron Kirk, U.S. Trade Representative

For decades the U.S. has imposed high tariffs on imports (so much for free trade), claiming the tariffs were “anti-dumping” fines.   The problem is that some of the foreign products affected by those U.S. tariffs were actually cheaper in the country of origin (like plastic model kits from Japan, and some from Europe).

Even after the U.S. created World Trade Organization ruled against the U.S. (five years ago!), regarding the anti-dumping tariffs, the United States continued the unfair trade policy.

Now, in an effort to help Japan’s, and Europe’s, ailing economy, and because Japan was about to levy a similar tariff on U.S. products, the United States will end those tariffs.  The U.S. has also agreed to pay back $26 million in illegal tariffs collected on Japanese products.

The end of the anti-dumping duties also affects European countries.

Unfortunately for us model kit builders, the ending of the tariff might not help our wallets, as the Yen and Euro have gained in value against the U.S. dollar.  The Euro now worth more than the U.S. dollar, but, the Yen is still far cheaper so lets hope those prices come down on Tamiya, Fujimi, Hasegawa and coveted Fine Molds kits.

Business/Economics, International, U.S.

Russia finally an official member of the WTO. Is that Why Russia suddenly reversed course on Syria, bailing out Europe?

“Russia is the world’s 12th largest trading nation and until we have this important country among our members, we cannot truly be the World Trade Organization.”-Pascal Lamy, World Trade Organization

After 18 years of trying to join the WTO, Russia was finally allowed in on December 16.  Just the day before Russia surprised many people in Europe and the United States, by announcing they would help bailout Europe, and, they would work with the United States to present a resolution to the UN Security Council concerning Syria.

Up until December 15 Russia had kept mum about bailing out Europe, and had opposed any UNSC resolution on Syria.

Russian Foreign Ministry Alexander Lukashevich, did admit there were conditions for Russia’s joining the WTO, and conditions for maintaining  membership: “Russia is joining the WTO on conditions answering its national interests. There are preconditions for further improvement of our business climate, for attraction of foreign investmens, for expanding of Russia’s export with simultaneous keeping of key industries of the national economy.”

WTO officials put another condition on Russia’s joining the global organization; they have to be well behaved for at least six more months, then, in the summer of 2021 they will be considered a full member of the World Trade Organization.  Even then there will be a “transition period” up to seven years.

The WTO members, including the United States, voted unanimously to let Russia finally join.  There are now 154 WTO members, which control 98% of global trade.

Business/Economics, International, U.S.

Global Economic War: China slaps U.S. made cars with tariffs, blames it on the anti-free trade action of the United States

“U.S. vehicles benefiting from subsidies and dumping on the China market have substantially damaged China’s auto industry.”-statement from Chinese Ministry of Commerce

General Motors and Chrysler will suffer the most from Chinese economic action against vehicles made in the United States.

Anti-dumping duties on GM vehicles are 8.9%, and 8.8% for Chrysler vehicles.

GM vehicles will also face anti-subsidy duties of 12.9%, and 6.2% for Chrysler vehicles.

The tariffs target cars with engines bigger than 2.5 liters, and made between December 201 through December 2013.

German car makers BMW and Mercedes will be hit with much much lower tariffs.

Chinese officials say the United States is violating the trade rules of the U.S. dominated World Trade Organization.

GM and Chrysler officials are not to worried.  Why? Because the majority of the cars they sell in China, are actually made in China (another reason for growing unemployment in the U.S.), and the tariffs do not apply to the cars they make in China.

 

Business/Economics, International, U.S.

Government, Corporate & Farmer Incompetence: MF Global scandal will destroy U.S. Agriculture! “Christmas is canceled.” Is it all about creating the Great Global Food Crisis?

“I simply do not know where the money is, or why the accounts have not been reconciled to date.”-Jon Corzine, former CEO of MF Global

On December 8, all those investors got their answer from the former boss of investment company MF Global.  Jon Corzine told the House Agriculture Committee that he doesn’t know what happened to the billions of investment dollars from clients, that include single moms and a lot of the country’s farmers.

“I can’t start my business at all because I have absolutely no capital…my twins’ birthday is December 9th, we can’t have a party now, Christmas is canceled.”-Jennifer DaRuzza, invested with MF Global in the hopes of raising enough money to start a business

The bigger concern is the fact that so many U.S. farmers were using investments with MF Global to fund their operations.  Historically farmers do not make enough money to “pay as you go”, they must deficit spend.

Senator Pat Roberts, who leads the Senate Agriculture Committee, told PBS’s Nightly Business Report that the MF Global scandal is bringing U.S. agriculture to a screeching halt: “…think of the farmer that was driving back to Kansas from Colorado, heard about this on the news, all of a sudden found out $30,000 of his assets were frozen. He was getting prepared to buy seed, fertilizer, was talking to a local realtor in regards to some land he might want to purchase or rent, that just stops it like that!”

Roberts also gave a dire warning for the country’s food supply in 2012: “…gonna have an impact on crops. This is gonna have an impact on our food prices. It is pretty broad across all the farm country and I’m hearing more about this than I am with what’s gonna happen in the farm bill!”

Try this:  Incompetent and greedy Corporate America just shot the United States in the Bread Basket!  Remember the Dust Bowl and Okies of the 1930s?  This time, instead of Mother Earth destroying U.S. agriculture it’s the hand of our divinely inspired leaders!

The destruction of the 1930s agriculture industry, in the bread basket of the U.S. (Midwest), is talked about as only one aspect of the Great Depression of the United States, but it should be discussed much more because people gotta eat!

(here’s a link to an interesting timeline of the Great Depression, where you should notice some ominous similarities between what happened then and what’s happening now)

It’s such a concern that United Nations officials have been warning of a coming Global Food Crisis for the past several years.  In 2008 UN officials called it “a silent tsunami” that was about to wash over the world.   This year the UN is stepping up preparations for long term famine relief (sinisterly involving the World Trade Organization): “My High Level Task Force is working to ensure that the UN system, international financial institutions and the WTO are ready to provide robust and consistent support to countries struggling to cope with food insecurity. This is a long term effort and it will require a comprehensive push to back solid partnerships, strong strategies and well financed actions that empower communities to become food secure.”-Ban Ki-moon, UN Secretary General

The strange thing about Ban Ki-moon’s statement; notice the emphasis is on “financed actions”.  What happened to growing food?  This is even more reason for individuals to try and grow their own, remember Victory Gardens? We’re at war people, and it’s not one country against another, as our 1% Elitist leaders claim, it’s the We the 99% against the 1%!

Here’s another scary part concerning the UN preparations, I don’t think the UN had taken into account the possibility that the Japanese would destroy their agriculture with radiation, or that the U.S. agriculture industry would be done in by their own financial system!  If the UN was predicting, back in 2008, that more than 100 million people are going to be starving to death, what about now?

Conspiracy theorists blame the coming Global Food Crisis on the Trilateral Commission, the Club of Rome, UN Article 21, and more.  Why?  Because all these organizations and proclamations are about one thing: Destroying existing systems for the purpose creating an all powerful one world government.

Oh, don’t worry, there will still be national and local governments, but they’ll answer to one single world government.  As the Russian Foreign Ministry recently said, regarding the formation of CELAC, it’s all part of “…the formation of a polycentric world and the strengthening of the role of regions in the system of global governance…”

Business/Economics, International, U.S.

Global Economic War: Welcome the new World Trade Organization contender; the Eurasian Union, just one more move towards One World Government

“The creation of a Eurasian Union will provide a boost to the European Union, which will have an overland bridge to China and other rising Asian markets.”-Kirill Koktysh, Moscow State University

On November 18, Russia, Belarus and Kazakhstan signed the Declaration on Eurasian Economic Integration, and the Agreement on the Eurasian Economic Committee (EEC), creating the new Eurasian Union.

“The structure of the (Eurasian Union) is very different from the EU as Russia is an absolute leader, while in the EU even Germany is strong but not completely overshadowing other members. So it will be easier to overcome problems through Russia’s leading role.”-Boris Makarenko, Center of Political Technologies

Don’t think this is a revival of the Soviet Union, it’s actually a spawn of the WTO (World Trade organization).  Before becoming a member of the new Eurasian Union each candidate country must swear allegiance to the WTO!

 

 

 

Business/Economics, International, U.S.

Boeing & Airbus claim victory in WTO case

Depending on which media source you read, Boeing won its World Trade Organization case against Airbus.  Depending on which media source you read, Airbus won its World Trade Organization case against Boeing.  Yes, that’s the idea.

Both Airbus and Boeing are declaring victories in their WTO case against each other.

U.S. officials say the ruling helps Boeing: “This definitive victory will benefit American workers who have had to compete with a heavily subsidized Airbus.”-Tim Reif, general counsel for the U.S. Trade Representative

Airbus officials say the WTO ruling upheld European loan subsidies: “…government loans are a legal instrument and that none of the government loans made to Airbus over the past 40 years were prohibited…”

Boeing reps said this is a “definitive victory” for the United States, but Airbus said “This is a big win for Europe.”

Who’s right?  The WTO looked at the allegations line by line, and voted line by line, basically splitting the difference.  So both sides think they won, when in reality they broke even.