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We need to rebuild the middle class & we also need manufacturing jobs to return to this country. Is this the beginning of that process ??
Rather than merely raising taxes on imported goods -- acts that are subject to international treaties -- nations including the United States are finding creative ways to engage in protectionism through domestic policy decisions that are largely not governed by international law. Unlike a classic trade war, there is little chance of containment through, for example, arbitration at the World Trade Organization in Geneva. Additionally, such moves are more likely to have unintended consequences or even backfire on the stated desire to create domestic jobs.
But the number of measures, both proposed and enacted, from the Obama administration and Congress in recent months has raised an alarm among foreign governments, pundits and news media outlets. The buy American provisions in the stimulus package, signed into law in February, were just the beginning. Last week, Obama unveiled a series of proposals aimed at increasing taxes by nearly $200 billion over the next decade on U.S. companies doing business abroad.
http://www.washingtonpost.com/wp-dyn...051404241.html
Also....
Europe and US have imposed numerous trade protection measures against the import of Chinese textiles and apparels. In a letter sent to the National Council of Textile Organizations, President Obama has assured to impose a programme to monitor the textile, and apparel imports from China. He has expressed his intention to introduce a fair trading system regarding foreign exchange practices. He had promised to impose emergency restrictions against the import surge of Chinese goods. Due to the protection measures imposed by other countries with a view to protect their own economy, export trading environment in China is weakening.
http://www.fibre2fashion.com/industr...rt-market1.asp
Rather than merely raising taxes on imported goods -- acts that are subject to international treaties -- nations including the United States are finding creative ways to engage in protectionism through domestic policy decisions that are largely not governed by international law. Unlike a classic trade war, there is little chance of containment through, for example, arbitration at the World Trade Organization in Geneva. Additionally, such moves are more likely to have unintended consequences or even backfire on the stated desire to create domestic jobs.
But the number of measures, both proposed and enacted, from the Obama administration and Congress in recent months has raised an alarm among foreign governments, pundits and news media outlets. The buy American provisions in the stimulus package, signed into law in February, were just the beginning. Last week, Obama unveiled a series of proposals aimed at increasing taxes by nearly $200 billion over the next decade on U.S. companies doing business abroad.
http://www.washingtonpost.com/wp-dyn...051404241.html
Also....
Europe and US have imposed numerous trade protection measures against the import of Chinese textiles and apparels. In a letter sent to the National Council of Textile Organizations, President Obama has assured to impose a programme to monitor the textile, and apparel imports from China. He has expressed his intention to introduce a fair trading system regarding foreign exchange practices. He had promised to impose emergency restrictions against the import surge of Chinese goods. Due to the protection measures imposed by other countries with a view to protect their own economy, export trading environment in China is weakening.
http://www.fibre2fashion.com/industr...rt-market1.asp
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