The Conservative Cave
Current Events => Politics => Topic started by: SSG Snuggle Bunny on February 02, 2009, 08:01:06 AM
-
First China:
WASHINGTON (AFP) – US President Barack Obama has set the stage for a possible trade war with China by branding the Asian giant a currency manipulator, a term his predecessor George W. Bush had skillfully avoided despite pressure from lawmakers.
"President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," his Treasury secretary-designate Timothy Geithner said Thursday in written testimony to senators quizzing him over his pending confirmation.
http://news.yahoo.com/s/afp/20090123/pl_afp/uspoliticsobamachinafinanceforex_20090123034324
Then the EU:
The EU trade commissioner vowed to fight back after the bill passed in the House of Representatives late on Wednesday included a ban on most purchases of foreign steel and iron used in infrastructure projects.
The Senate's version of the legislation, which will be debated early next week, goes even further, requiring that any projects related to the stimulus use only American-made equipment and goods.
The inclusion of protectionist measures has quickly raised hackles in Europe.
A spokesman for Catherine Ashton, the EU trade commissioner, said: "We are looking at the situation. The one thing we can be absolutely certain about, is if a bill is passed which prohibits the sale or purchase of European goods on American territory, that is something we will not stand idly by and ignore."
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/4389597/US-EU-trade-war-looms-as-Barack-Obama-bill-urges-Buy-American.html
@#$%ing idiots
-
Because, you know, the Smoot-Hawley Tariffs work so darn well at protecting American jobs...
:whatever:
-
Some type of confrontation with China is inevitable, I think GWB would have been tougher on them had he any support at all from congress/ media/ general public.