US-China trade relations and penalties

I found an article from the New York Times website entitled “China: Trade Penalties Will Hurt US Relations” which discusses recent trade penalties that the United States imposed on Chinese tire imports. Barack Obama decided on a 35 percent tariff for one year, 30 percent the second year, and then 25 percent the third year. This is on top of the current four percent tariff on all tire imports.

Brazil considers taking “Buy American” clause to WTO

Brazilian Foreign Minister Celso Amorim said the country might ask the World Trade Organization to examine the legality of the “Buy American” provision in the U.S. economic stimulus. The clause, which blocks foreign participation in parts of the stimulus, is “not positive at a moment when the world economy is trying to revive”.

Brazil may challenge “Buy American” at WTO

In my article it talks about how Brazil is considering challenging the legality of the newly passed “Buy American” clause at the WTO meeting in London next month. Brazil will speak about global protectionism. Brazil is challenging the clause because they feel that the United States is being counterproductive to global trade.

US President Barak Obama has signed his hard fought economic stimulus plan

BBC NEWS: Obama signs a $787 billion stimulus plan.
US President Barak Obama has signed his hard fought economic stimulus plan in Denver after congress approved the $787 billion package last week.

Brazil may challenge “Buy American” at WTO

Brazilian Economic officials report that they are very disappointed in the most recent “Buy American” stimulus package aimed at giving money to companies who buy American made products for building projects and other improvements.

Analysis: Buy-US Clause Draws Fire Abroad

The current “Buy American” clause before Congress is causing much controversy and objection from the United States’ major trading partners. Although it is being strongly supported by Democrats in Congress and by labor unions of the United States, it faces opposition from many Republicans, economists and business groups.

The “Buy American” provision

The U.S. Chamber of Commerce is working to kill the popular “Buy American” provision that is part of the new economic stimulus bill that has been introduced into Congress. Many people have criticized the U.S. Chamber of Commerce for their actions saying that their position is “economic treason”.

The United States stimulus package

In Kuthula Matshazi’s article, “Obama’s ‘Buy American’ a threat to international trade”, there is a opinion as to what will happen as a result to the United States implementing a stimulus package. This package is called the “Buy American” which will mandate all public works projects to procure iron and steel made in the United States only.

Canada and the Buy American Plan

Canada is upset at the new stimulus bill that is currently in the United States Senate. The bill encourages Americans to buy American made goods. It also encourages public works projects which would encourage the use of US steel and other goods. These actions would favor American companies something that is prohibited by the North American Free Trade Agreement.

If We Buy American None Else Will

World Trade is harshly dropping due to the financial crisis and the global recession. In the United States particularly in November we saw imports from the rest of the world drop dramatically. China and Japan who are Americas number one and two in providing imports have declined supplying goods to America by double digit rates. This article argues that if our government strategy is to ‘just go out and buy American” then the overall state of the world economy is just going to get worst.