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

To: mishedlo who wrote (64924)	3/30/2007 11:19:37 AM
From: Haim R. Branisteanu	Respond to of 116555

Worse - 30 Mar 2007 15:13 GMT U.S. plans economic sanctions on China WASHINGTON (AP) - The Bush administration, facing heavy pressure to deal with soaring trade deficits, will impose economic sanctions against China as a way of protecting American paper producers from unfair Chinese government subsidies, a Commerce Department official said Friday. The action will reverse 20 years of U.S. trade policy by treating China, which is classified as a nonmarket economy, in the same way that other U.S. trading partners are treated in disputes involving government subsidies. The decision was to be announced by Commerce Secretary Carlos Gutierrez. Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. BULLET: DOLLAR-YEN: Slumps to Y117.75 area in recent trade... DOLLAR-YEN: Slumps to Y117.75 area in recent trade as the dollar skids lower across the board. One trader pointing to the trade steps recently announced by the US Commerce Dept. that appear to open up duties on some imports from China as apparently the driver of the dollar sales, a whiff of protectionism in the air. Move also likely reflects a surfeit of dollar longs in the market that decided to throw in the towel after Y118.40 tech resistance held strong. Provided by: Market News International