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Trade News Archive: 24 July - 30 July
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The AmericanEconomicAlert.org News Article Rating System
As well as providing fresh news reports every day, AmericanEconomicAlert.org offers a uniques news rating system. Each news item below has been given a rating from 1 to 5 stars, depending on its importance and relevance to U.S. international economic and trade policy.
 

Tuesday, July 29, 2014
Foreigners complain about the dollar but keep buying it
CBS Marketwatch

• Comment: "Nonetheless, America’s national debt remains towering and keeps rising. And just as soon as the recovery began, the trade deficit began rebounding — even though growth has been weak."
U.S. lawmakers warn against Mexico sugar import restrictions
Reuters

• Comment: "U.S. food manufacturers and commercial users of sugar sent a similar letter earlier this month, citing rumors that the government was negotiating a trade deal with Mexico to end a months-long dispute over imports of the sweetener."

Monday, July 28, 2014
China Removes Crosses From Two More Churches in Crackdown
New York Times

• Comment: "Church leaders and analysts say the battle in Zhejiang, one of China’s wealthiest provinces, highlights the Chinese leadership’s discomfort with the growing allure of Christianity, whose adherents are said to rival in number the 86 million members of the Communist Party. The crackdown on Christianity in Zhejiang also coincides with a nationwide campaign that has been directed at legal rights defenders, pro-democracy advocates and liberal online commentators."
Export-Import Bank faces danger from all sides
Politico

• Comment: "Rep. John Campbell (R-Calif.), meanwhile, has floated a draft bill that would diminish the agency’s role, hitting what he called the “sweet spot” between warring anti-establishment and corporate-backed Republicans. But there’s still not much of an indication that key House Republican leaders are willing to consider any reauthorization at all, and if they do, they’ll most likely insist on only a short-term measure."
Merck cutting 600 jobs
Albany Business Review
China Condemns U.S. In Solar Trade Battle
New York Times

• Comment: "The American unit of the German solar manufacturer SolarWorld is seeking to close a loophole allowing mainland Chinese producers to sidestep duties imposed in 2012, complaining that mainland Chinese manufacturers dodged those duties by shifting to Taiwan the production of cells used to make their panels."

Sunday, July 27, 2014
Sen. Schumer: U.S. should use WTO and World Cup to pressure Putin
Washington Post

• Comment: "We should tell Putin and the Russians that if they keep this up, we will move to expel them — along with the Europeans — from the WTO, and we will not allow the World Cup to go forward in four years in Russia," Schumer said on NBC's "Meet the Press."

Saturday, July 26, 2014
India Threatens to Block Global Trade Deal
New York Times

• Comment: "W.T.O. members, including India, agreed in Bali last December to a temporary solution where developing countries would not be penalized for breaching their subsidy levels until a permanent solution was found by 2017, but the Indian government now wants immediate talks."
Solar Industry Is Rebalanced by U.S. Pressure on China
New York Times

• Comment: "On Friday, the United States Commerce Department took another step in that direction, finding that Chinese solar companies had dumped their products on the American market at below cost, and imposing duties of 10.74 percent to 55.49 percent. The ruling follows a separate decision in June that ruled that Chinese solar panel manufacturers had benefited from unfair government subsidies and that imposed steep duties of about 19 percent to 35 percent."

Friday, July 25, 2014
Something New for U.S. Manufacturing: Stability
Wall Street Journal

• Comment: "From the peak in 1998—when there were 376,000 factories sprinkled across the U.S.—the number fell steadily until about two years ago. However, since late 2012, the number has hovered around 304,000. That’s by far the longest period of stability since before the sector fell on hard times."
Durable goods orders jump in June
Phoenix Business Journal

• Comment: "Strength last month came from solid gains in demand for commercial aircraft and machinery. Economists expect economic activity will strengthen in the second half of the year following sluggishness in the first half."
Durable goods orders jump in June
Phoenix Business Journal
Sabre Industries cutting 80 jobs, closing Ellwood City plant
Pittsburgh Business Journal

• Comment: "But Sabre is closing its western Pennsylvania operation, in Lawrence County about 40 miles north of Pittsburgh, possibly next week. According to a WARN notice filed with the Pennsylvania Department of Labor & Industry, the plant is scheduled to close between July 29 and Aug. 13."
Tariffs Boost Solar-Panel Makers in U.S.
Wall Street Journal

• Comment: "New tariffs on Chinese solar panels, including widely anticipated duties imposed by Washington on Friday, are spurring companies to manufacture more solar-power equipment in the U.S. Two U.S. companies—SolarCity Corp. and Suniva Inc.—have recently announced plans to build solar-panel factories in America, and at least one Chinese manufacturer says it is considering joining them."

Thursday, July 24, 2014
Bombardier to restructure company, cut 1,800 jobs
Wichita Business Journal

• Comment: "Bombardier Inc., whose Learjet business is based in Wichita, is cutting jobs and restructuring into four segments as part of a plan to reduce costs."
A Chinese Gold Standard?
New York Times

• Comment: "For the past 25 years they have pursued a policy of aggressive export growth to drive their economy. China successively devalued its currency, from 1.50 renminbi to the dollar in 1980, to 8.72 in 1994. (Today the renminbi trades at 6.20 to the dollar, which the United States still considers artificially low.)"
China’s Manufacturing Sector Expands at Swifter Pace
New York Times

• Comment: "A subindex measuring new orders, a gauge of demand at home and abroad, hit an 18-month high of 53.7, while the subindex for output also rose to a 16-month high in June. The employment index also improved from May, though it was still slightly under 50, which implies that jobs were still being lost in the manufacturing sector."
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