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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (8068)	6/18/2004 4:52:27 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

U.S. OKs preliminary Chinese furniture duties of 5-198% Friday, June 18, 2004 4:40:07 PM WASHINGTON (AFX) -- The Bush administration announced Friday that it would preliminarily impose duties ranging from 4.9 percent to 198.1 percent on wooden bedroom furniture imported from China. Twenty-seven U.S. companies and four labor unions from 14 states, including North Carolina and Virginia, have asked the government to impose punitive duties ranging from 158 percent to 441 percent on Chinese firms. The U.S. makers have alleged the Chinese firms are illegally "dumping," or pricing below fair market value, about $1.2 billion of their goods on the U.S. market annually. The case is the largest U.S. anti-dumping case ever against China ====================================================================== 5 to 198% Is this a joke? China should tell the US it is going to raise tariffs on CAT products Mish

To: CalculatedRisk who wrote (8068)	6/18/2004 4:55:54 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Of course furniture subsidies by China are bad but cotton subsidies by the US are OK. Makes perfect sense to me. U.S. vows to appeal WTO cotton ruling Friday, June 18, 2004 7:36:07 PM WASHINGTON (AFX) -- The Bush administration will appeal a decision in the World Trade Organization against U.S. subsidies for cotton, a spokesman for U.S. Trade Representative Robert Zoellick said Friday "We have serious concerns with aspects of the final panel report and after closely viewing the report, we will appeal," said Richard Mills, chief spokesman for Zoellick Earlier Friday, the Geneva-based trade body said cotton subsidies for U.S. farmers unfairly disadvantage Brazilian farmers While the final ruling is merely a reaffirmation of an April ruling from the WTO, the decision sets the stage for a much larger battle over agriculture in ongoing negotiations to close the round of trade talks launched at Doha, Qatar in 2001 "We will defend U.S. agriculture in every forum we need to and have no intention of unilaterally disarming," Mills added.