From the free trade front:
The European Union, Japan and six other countries have warned of retaliatory measures unless the United States ends its tariffs on a range of steel imports.
The comments came after a World Trade Organisation ruling that the tariffs flouted international rules and should be amended, rejecting an appeal by the United States.
Sometimes, it's good to lose.
UPDATE: Jane Galt is less sanguine.
I've read that other countries mislabel the steel coming into this country, rolled v ????,
and I don't understand why Customs/steel cos/union don't work together and have steel workers act as Customs agents. Everyone could split employment costs.
More workers working, more penalties imposed, win/win for US.
How is this a victory if the WTO only comes out against our unfair practices (which the steel tariff obviously is,) but completely leaves the EU alone.
Since when has the WTO pointed a finger at Airbus, or any of the other large state-owned euro-corporations ?
I agree that axing the steel tariff is a good thing, but if someone else is doing it to us (i.e. the WTO,) without any quid pro quo, where does it get us?
You guys will have to take on the steel tariffs. I have my hands full with presidential politics.
It's good know some people can figure this stuff out. I'll check back periodically to see how you're doing.
Trevor -
The WTO agreements specifically allow governments to subsidize their own industries. Thus, no violation.
Thanks for the info, Alex. I just read Jane Galt's take on this, and I see how it could end up being a good thing. I do agree that we should be a free-trade nation, but if the EU doesn't straighten out (not just subsidized companies, but farm subsidies, etc.) all of our efforts won't be enough.
I had always viewed this subsidy as a bargaining chip with the EU, and not as a political chip at home. I was wrong, but I still think that something needs to be done, what it should be, I just don't know.
