September 10, 2003

Et Voila

Bring on the trade wars. A wire story reports that,"A group of US senators called for an across-the-board tariff increase of 27.5 percent on Chinese imports in a proposal aimed at prodding Beijing to drop its currency peg to the US dollar. " Chuck Schumer from New York says that "Chinese actions endanger American and world commitment to free trade and weaken the support in Congress for free trade. This legislation is a tough-love effort to get the Chinese to stop playing games with their currency in order to level the playing field for American companies trying to compete with goods and service coming from China." So many twisted half-truths. Where to begin? American commitment to free trade? See also, steel tariffs, farm subsidies. Tough-love? Okay, that might be right. Schumer is just the type to love the Chinese communists (if they'd just play fair.) Playing games with their currency? Hmm. Sounds familiar... Where is the shame America? Where is the outrage? When will the Chinese start selling (or stop buying) U.S. bonds and kick back?


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