275


WTO rules against Trump's trade war
By on September 20, 2020
share68 Share chat_bubble_outline1 Comment

WTO rules against Trump's trade war
A panel of experts ruled that the tariffs were inconsistent with the global trade rules and asked the United States to bring its measures into conformity with its obligations.
On Tuesday, September 15, 2020, the World Trade Organization said that American tariffs on Chinese goods violated international rules, thus undermining Donald Trump's justification of his trade war against China and other neighboring countries. While the US helped design those rules, Trump's actions violated the United States' own principles with regard to facilitating the global trade. In 2018, the Trump administration imposed levies on $400 billion in Chinese exports to the United States. The administration also imposed tariffs on Canadian aluminum, arguing that its reliance on foreign suppliers was a threat to its national security. Very quickly, China and Canada responded with retaliatory tariffs on US goods. As a result, American consumers are paying more now and imports from other countries have significantly gone up. The tariffs threatened the US economy as they had a negative effect on consumer spending, which is the most important driver of American economy. And the US trade deficit surged, hitting its highest level in 12 years since 2008. The trade war confounded American businesses as they became more and more uncertain of their raw material costs. Last September, it was estimated that the trade war had cost the United States about 0.3% of its GDP and 300,000 jobs, according to Moody's corporation, an American firm that provides information on global capital markets. Farmers were the most affected by the trade war as agricultural exports went down, creating a surplus of perishable goods stuck in limbo and equipment prices increased. The Trump administration had to bail out the sinking agricultural sector by giving farmers $28 billion of taxpayer money and promised to add $20 billion more. Created in 1995, the World Trade Organization joined the Bretton-Woods family of global financial institutions with the mission of regulating trade and reducing tariffs within member countries.


27


More pain than gain: How the US-China trade war hurt America
By on October 03, 2020
share3 Share chat_bubble_outline Reply

More pain than gain: How the US-China trade war hurt America
Trump's trade wars have significantly hurt the American economy without solving the underlying economic concerns that the trade war was meant to resolve.
American consumers are paying higher prices. Manufacturing jobs are not back. And the trade war has allowed China to advance its interests abroad and oppress its own people.
Source:
brookings.edu

157

Too Much and Never Enough:
How My Family Created the World's Most Dangerous Man, by Mary L. Trump

share84 chat_bubble_outline2

94

We cannot beat COVID-19 without including refugees
By on May 28, 2020
share26 chat_bubble_outline

68

Activists demand accountability after Toronto Black woman fell off the balcony and died while police were inside her apartment
By on May 28, 2020
share15 chat_bubble_outline

399

Affaire Félicien Kabuga. Quand la justice internationale se met à l’épreuve!
By on May 28, 2020
share95 chat_bubble_outline6

244

Racism is about economics
By on May 28, 2020
share64 chat_bubble_outline1

151

Trump team killed rule designed to protect health workers from pandemic like COVID-19
By on May 27, 2020
share46 chat_bubble_outline

347

Video: How George Floyd was executed
By on May 26, 2020
share82 chat_bubble_outline5

180

Tests ADN sur les dépouilles du feu président Laurent-Désiré Kabila en cours en RDC
By on May 26, 2020
share64 chat_bubble_outline

216

The US lacks leadership to tackle the COVID19 pandemic.
By on May 26, 2020
share61 chat_bubble_outline1

186

The alternative right is running the White House
By on May 24, 2020
share78 chat_bubble_outline1

208

I Will Vote. Be a voter in the 2020 election.
By on May 24, 2020
share84 chat_bubble_outline

201

Ne discriminez pas. Le COVID19 ne discrimine pas.
By on May 22, 2020
share45 chat_bubble_outline2

306

All of them are graciously beautiful. Color doesn't matter
By on May 21, 2020
share127 chat_bubble_outline1

153

Grandma goes off on Trump
By on May 20, 2020
share37 chat_bubble_outline

251

“I dream of a world where truth shapes people's politics, rather politics shaping what people think is true”
By on May 20, 2020
share42 chat_bubble_outline2

154

Le covidOrganics CVO est un mélange à base de plantes qui a été développé par l'Institut Malgache de Recherche Appliquée pour traiter le nouveau coronavirus.
By on May 19, 2020
share37 chat_bubble_outline

153

There are positive early results from Moderna's coronavirus vaccine trial
By on May 18, 2020
share49 chat_bubble_outline

116

Ibrahim Kabila: ‘’Je dis merci à «Fatshi béton» qui s’est impliqué personnellement et a ordonné ma libération’’
By on May 18, 2020
share27 chat_bubble_outline2

184

More than 60 countries back Australia's call for an independent and impartial international probe into origin of COVID-19
By on May 17, 2020
share61 chat_bubble_outline

201

Dr. Carol Baker of the CDC: "We'll get rid of all the Whites in the United States of America... Guess who's getting vaccinated the most? Immigrants."
By on May 17, 2020
share64 chat_bubble_outline1

362

All lives matter. Let's love one another
By on May 17, 2020
share86 chat_bubble_outline
56789
Sign up for our newsletter


TOP
WTO rules against Trump's trade war

Global Liberal Blog
©Apr, 2020 - Aug, 2021. gloliblo.com
All rights reserved.