Wto tariffs who gets the money

THE TICKER President Trump and Chinese President Xi Jinping participate in a welcome ceremony at the Great Hall of the People in Beijing last November. (AP /Andrew Harnik, File) Here’s one way to view the short-term economic cost of the tariffs the United States and China have proposed slapping on each other: They could halve the growth effect of last year’s tax cut.  Which is to say: Not a welcome outcome, but hardly economic Armageddon, either. That’s based on a projection by Ryan Sweet, head of monetary policy research at Moody’s Analytics. He wrote in a Wednesday note that the “tit-for-tat tariffs” the two superpowers have threatened in recent days would shave up to 0.2 percentage points off GDP growth here — or half of what the International Monetary Fund has estimated last year’s tax cuts would add to the expansion this year. “This isn’t enormous,” Sweet noted.  The threat, of course, is that … [Read more...] about The Finance 202: Trump tariffs aren’t going to impede economic growth (yet)

BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Newsletter Signup World By Eric Priest AND Sean Prager 05/01/18 AT 2:41 PM The Trump administration’s face-off against China over intellectual property rights is a battle worth fighting. Unfortunately, the White House has chosen the wrong weapon: tariffs.The administration launched the first salvo in March, slapping steep tariffs on steel and aluminum, and more recently announced US$50 billion in new duties on a range of Chinese goods. Such unilateral tariffs almost certainly violate the rules of the World Trade Organization. Furthermore, they risk sparking a trade war with China, which would ultimately harm U.S. companies.There is a better way to respond to Chinese intellectual property theft: unfair competition law. Use of unfair competition law to sanction overseas piracy is a relatively new tool. However, our research has found that it has already proven … [Read more...] about Why Tariffs Are The Wrong Weapon In Fight Against China’s ‘Pirates’

World Economy President Donald Trump’s former economic adviser Gary Cohn strongly criticized the administration’s trade policies, slamming tariffs as harmful to the economy and pointing to a record-setting trade deficit in 2018. “Tariffs don’t work. If anything, they hurt the economy, because if you’re a typical American worker, you have a finite amount of income to spend,” Cohn, a former Goldman Sachs executive who served as Trump’s first director of the National Economic Council, told Freakonomics radio in an interview broadcast Wednesday, CNBC reported. “If you have to spend more on the necessity products that you need to live, you have less to spend on the services that you want to buy.” Stephen J. Dubner, who interviewed the former Trump adviser, pointed out that the majority of economists agreed with Cohn’s point, except for Peter Navarro, who serves as the president’s director of the National Trade Council. … [Read more...] about Trump’s Former Economic Adviser Slams Administration Over Trade War, Says Tariffs ‘Hurt the Economy’

POLITICS 07/22/2018 08:01 am ET The myth of free trade is coming apart. By Zach Carter President Donald Trump’s trade agenda is a corrupt, chaotic mess. He made trade concessions to China after its government agreed to invest hundreds of millions of dollars in a Trump-branded resort. He announced a modest trade enforcement action on steel and aluminum and declared it a “trade war” ― something both “good” and “easy to win.” He then shifted his sights in this combat from China to Canada without any apparent rationale. The president has even threatened Ecuador’s economy with crippling sanctions if its government offered public support for breastfeeding. As with so many Trump debacles, his bluster creates an appearance of radicalism — a dramatic break with a stable and happy consensus. Washington Post columnist Catherine Rampell has lamented that he is discarding more than 300 years of settled … [Read more...] about Trump’s Tariff War Is The Final Act Of A Broken System

Supreme Court & other High Courts need to inquire about carcinogenic asbestos laden buildings in their premises The Division Bench of Calcutta High Court has passed an order which can set the process of making West Bengal free of asbestos based products. The order seeks removal of carcinogenic-asbestos that has been used for roofing in the Court’s buildings. This order underlines the serious unprecedented environmental and occupational health crisis with regard to the unnoticed epidemic of asbestos related diseases in West Bengal in particular and in the country in general.In Writ Petition (Civil). No. 14729 (W) of 2016, the Bench of Acting Chief Justice Nishita Mhatre and Justice Tapabrata Chakraborty passed the verdict observing, “The High Court main building is undergoing repairs with the assistance of the Public Works Department (PWD) of the Government of West Bengal and other Authorities. When the entire renovation is undertaken, it is expected that the High … [Read more...] about Calcutta High Court’s Order Paves Way For Asbestos Free West Bengal & India