Tag: International Trade and World Market

A Radical Plan to Fix the Dollar

Elizabeth Warren released an “American jobs” plan recently. It includes several trade and manufacturing policies intended to benefit American workers and companies. Wall Street responded with righteous indignation, which suggests she may have hit a nerve. One element of her plan most likely explains Wall Street’s angry reaction: a call to tackle America’s overvalued dollar. […]

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‘Catastrophic,’ ‘Cataclysmic’: Trump’s Tariff Threat Has Retailers Sounding Alarm

Already battered by the e-commerce revolution, traditional retail stores are bracing for another blow — new tariffs on $300 billion worth of Chinese imports that the Trump administration is threatening to impose. Retailers and analysts warn the impact will be disastrous for an industry already tormented by vacant storefronts and deserted malls. The reason: Unlike […]

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When Dead Companies Don’t Die

The United States’ recovery from the Great Recession recently turned 10 years old, matching the longest American expansion since records were first kept in the 1850s. The global recovery will also turn 10, in January, if it lasts that long — and that, too, would be a record. But there have been few celebrations, in […]

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India Raises Tariffs, Escalating Trade Fight With Trump

MUMBAI, India — India announced late Saturday that it would raise tariffs on 28 categories of imports from the United States, the latest escalation in what has been a slow-motion trade fight between the two countries. The increased tariffs, on $1.4 billion of goods, went into effect Sunday morning in India and cover almonds, walnuts, […]

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Bribes and Backdoor Deals Help Foreign Firms Sell to China’s Hospitals

BEIJING — A trip to the sauna. A golf club membership. Luxury watches. Neatly packed bricks of red Chinese bills worth $220,000. The bribes lined the pockets of health care officials across China. Their purpose: to get public hospitals to buy millions of dollars’ worth of sophisticated medical equipment made by foreign companies like General […]

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As Protesters Fill Hong Kong’s Streets, Businesses Are Alarmed, Too

HONG KONG — As tens of thousands of protesters returned to Hong Kong’s streets on Wednesday to speak out against a proposed law that would allow extraditions to mainland China, one prominent voice has been largely silent: big business. But quietly, a wave of concern has spread through the community of foreign consultants, investors and […]

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If Trump Wants to Take On China, He Needs Allies

BERLIN — With the prospect of a trade deal between China and the United States all but dead, the Trump administration is no doubt weighing its next steps in its quest to rein in Beijing’s rise. President Trump should try something he hasn’t yet: call Europe. Just five years ago, such a suggestion would have […]

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Congratulations on Fixing the Border, Mr. President!

Remember that time when Donald Trump was going to win the Nobel Peace Prize for ending the threat of nuclear war on the Korean Peninsula? It was almost exactly a year ago. The president was about to meet North Korea’s Kim Jong-un in Singapore. A group of House Republicans nominated the president for a Nobel […]

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Donald and the Delusion Discount

The events of the past few weeks destroyed whatever credibility Donald Trump may still have had on economic policy. And investors are celebrating. At this point, evidence that Trump tweets are sound and fury signifying nothing is, in effect, good news. Let’s review what happened. First, having gone to great lengths to get a new […]

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Trump Says Mexico Tariffs Worked, Emboldening Trade Fight With China

WASHINGTON — President Trump has concluded his tariff threat worked and forced Mexico to stop the flow of migrants. On Monday, he pivoted back to his trade fight with China and vowed to hit Beijing with more tariffs if it did not accede to America’s trade demands. “The China deal’s going to work out,” Mr. […]

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Trump Defends ‘Beautiful’ Tariffs as a Negotiating Tactic

President Trump on Monday defended his administration’s decision to threaten a number of trading partners like Mexico with tariffs, calling tariffs a “beautiful thing” and asserting that a trade deal with China was close because of his aggressive policies. “The China deal is going to work out,” Mr. Trump said in a telephone interview with […]

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Wall Street Asks When, Not if, the Fed Will Cut Interest Rates

The American economy is showing signs of cooling, and Wall Street is counting on Jerome H. Powell, the chairman of the Federal Reserve, to come to the rescue. The big question facing the Fed is when, not whether, to act, as far as investors are concerned. But the Fed faces a tricky balancing act as […]

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Heroes of the Great Patriotic Trade War

I’d like to make an important announcement to New York retailers: NEW JERSEY HAS AGREED TO IMMEDIATELY BEGIN BUYING LARGE QUANTITIES OF WHITEFISH SALAD FROM OUR GREAT PATRIOT GOURMET MARKETS. What’s that you say? There was no such agreement? New Jersey doesn’t even have any kind of centralized purchasing mechanism for food products? I say […]

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World Economic Leaders Warn of Fallout From Trade War Between U.S. and China

FUKUOKA, Japan — Global finance leaders meeting in Japan this weekend said they were increasingly worried that the trade dispute between the United States and China, which shows no signs of abating, could propel the world economy into a crisis. The sense of gloom at the gathering of the Group of 20 major economies came […]

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A Drama of Trump’s Own Making Ends With a Familiar Hero

WASHINGTON — For nine days, he had his finger on the trigger and threatened to pull. For nine days, he put two countries, entire multinational industries, vast swaths of consumers and workers and even his own advisers and Republican allies on edge, unsure what would happen with billions of dollars at stake. And then almost […]

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Is It Too Late to Stop a New Cold War With China?

George Orwell celebrated victory in World War II by warning that a “cold war” would soon commence. A cold war, he wrote in his 1945 essay “You and the Atomic Bomb,” was a “peace that is no peace.” Nuclear weapons would prevent direct invasions, but the superpowers would otherwise lead irreconcilable world orders, each seeking […]

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Mexico Agreed to Take Border Actions Months Before Trump Announced Tariff Deal

WASHINGTON — The deal to avert tariffs that President Trump announced with great fanfare on Friday night consists largely of actions that Mexico had already promised to take in prior discussions with the United States over the past several months, according to officials from both countries who are familiar with the negotiations. Friday’s joint declaration […]

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Mexico Sets Domestic Priorities Aside to Assuage Trump and Avert Tariffs

MEXICO CITY — Mexico’s president came to office promising a fresh approach to combat record-high homicide rates: a new National Guard made up of soldiers and police. Now, in a deal to assuage his American counterpart and avert a trade war, Andrés Manuel López Obrador will have to deploy that some of that force to […]

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Trump Is More Vulnerable to Democratic Attacks on Trade Than You Might Think

ImagePresident Trump in January 2018 after signing directives to impose tariffs on imported washing machines and solar panels.CreditJonathan Ernst/Reuters To President Trump, tariff “is a beautiful word indeed.” Just in the last few weeks, he increased tariffs on billions of Chinese imports and threatened Mexico with big new tariffs. His enthusiasm as trade-warrior-in-chief, though, has […]

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Mnuchin Lays Blame for Failed Trade Talks on China

FUKUOKA, Japan — The icy relationship between the United States and China over trade showed no signs of easing on Saturday, as Treasury Secretary Steven Mnuchin called on Beijing to return to talks and follow through on its commitments or face more tariffs from President Trump. The comments came on the first day of the […]

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