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Full-On Trade War: Trump Jacks Up Tariffs on $550 Bn of Chinese Goods, Blasts 'Unfair' Regime
"US stock-market indexes fell precipitously on Friday, with the Dow Jones plummeting 700 points at one point amid Trump's threats to cut off all trade with Beijing. When he virtually ordered US companies to 'immediately start looking for an alternative to China,' it inspired further panic. US businesses are growing increasingly desperate over the stalemate, urging Trump to put the tit-for-tat tariff war on hold and seek common ground with Xi."
WATCH: @14:35 "Professor Richard Wolff breaks down how the latest round of tariffs on Chinese goods will impact average Americans. 'This isn't working. We must change our relationship with China..."
Trump is Melting Down Because China Won't Give In On Trade
"President Trump is in the midst of a public meltdown that is humiliating, scary and banana-republic-y even by Trumpy standards. The reason is that Trump started a trade war and China refuses to back down, having announced this morning that it is imposing retaliatory tariffs on $75 billion worth of US goods. Trump has picked fights with lots of countries. Usually they either placate him [Canada/NAFTA] or try to give him a face-saving way of de-escalating it (eg., Mexico, which is never going to pay for the wall but doesn't talk about the fact...). Sometimes they get Trump to fold by stroking his ego (The North Koreans..).
China is playing it differently. This has provoked one of Trump's wilder temper-tantrums..."
Pity Trudeau/Freeland were persuaded to go along with Trump's reckless anti-China moves and throw away such an important trading relationship at great expense to Canada, without any advantage whatsoever. Had we resisted the American's outrageous Meng Wan Zhou kidnap fiasco, which we easily could have done, things might now be very much rosier for Canada than they will be given our perceived stab in the back to the country's second largest trading partner. Instead we are now in the middle of two angry fighting elephants and as the old African proverb wisely cautioned: 'when elephants fight it is the grass that suffers.' Canada will be that grass...
Trump Says He Has 'Absolute Right' To Order US Companies Out of China Based on 1977 Law
"After China unveiled a new round of retaliatory tariffs on about $75 billion worth of US goods, Trump told US companies on Twitter to 'immediately start looking for an alternative to China,'..."
The western economic system is already precarious due to the banksters' gaming/bailout in 2008 - Trump's demented Samson shaking threatens to bring it crashing down into the deepest of recessions, as already presaged by the recent stock market crash of 700 points. Is this a deliberate destabilization I wonder? At the least he certainly won't win another election if the downward trend attendant upon his ill considered trade war continues. See marxist Economic Prof Richard Wolff's analysis below.
This Economic System Can't Be Fixed: Millions To Lose Jobs in Recession (and podcast)
"On today's episode of Loud & Clear, Brian Becker and John Kiriakou are joined by Richard Wolff, a professor of Economics, Emeritus, University of Massachusetts, Amherst and founder of the organization Democracy At Work. Prof Wolff's latest book is Capitalism's Crisis Deepens: Essays on the Global Economic Meltdown."
Global Capitalism: The US-China Trade Wars
"Causes, prospects, risks - Prof Richard Wolff. (Sept 2019)
Look Who's Holding Up NAFTA 2.0 'Free Trade' Sellout..
No wonder we didn't hear any Liberal campaign boasting about it. Maybe the American internecine political wars will save us from this awful neoliberal surrender? Canadian 'progressives' certainly won't. They hardly even noticed.
..after watching this video my assesment is that it spent very little time on alternatives. most of the time was spent on explaining the current deals.
Beyond NAFTA and CUSMA: Democracy Not Corporatocracy
The Canada-United States-Mexico Agreement (CUSMA) falls short of any real alternative, rather it follows a long line of neoliberal trade agreements that have little to do with trade and everything to do with facilitating profit generation for multinational corporations.
We discuss the trade agenda and the current political context in Mexico and Canada as well explore alternative forms of trade and build North-South cooperation.
Moderated by Viviana Patroni. Presentations by:
Co-sponsored by: Global Labour Research Centre (GLRC), Social Justice Fund (PSAC), United Steelworkers, OSSTF, Common Frontiers, Socialist Project. Recorded in Toronto, 25 September 2019.
Freeland in Mexico Today as CUSMA Meets Its 'Moment of Truth'
"Canada's Deputy Prime Minister Chrystia Freeland is in Mexico City today in a last-minute flurry to tweak the renegotiated North American trade agreement. Canada's Prime Minister and Trump spoke by phone on Monday evening about 'progress towards ratification of the new North American Free Trade Agreement', according to the Prime Minister's Office. Freeland is expected to hold a media conference at the Canadian Embassy later Wednesday afternoon..."
Trudeau: Stop the RAT-ification of CUSMA (the new NAFTA) & petition
"CUSMA is still a corporate rights deal that requires significant changes. Call on the Trudeau government to do the right thing and put the brakes on ratifying CUSMA..."
Are There Alternatives To Free Trade?
"Modern free trade agreements, along with deregulation and privatization, have let to the greatest wealth disparity since the robber-barons of the turn of the 20th century. Of the world's top economies, 31 are countries and 69 are corporations. Apple's revenues exceed the GDPs of two-thirds of the world's countries Walmart's annual revenues exceed the GDP of 157 countries. BP is bigger than Russia. Exxon is bigger than India. Trade agreements have little to do with trade..."
You know the drill Canuckleheads. Bend over, touch your toes and say 'Ohhhhh!'
"Nothing more perfectly embodies the Democratic party then announcing articles of impeachment and a huge deal with the President on his single biggest priority on the same day."
"...New toxic provisions were introduced into the new deal; a binding regulatory chapter which seats corporations at the table where regulations are made, giving them the power to modify and challenge them; the erosion of supply managed markets and sovereignty for Canadian farmers; and ineffective protection for water. The agreement does not mention the Paris climate agreement and still has provisions which further encourage privatization and deregulation of the economy...We are up against unprecedented corporate power. And with the climate crisis we have so little time."
Council of Canadians email, Dec 10, 2019
'Positive Step For Trade Certainty in North America'
"Congratulations to PM Justin Trudeau and Deputy PM Chrystia Freeland and Canada's team of exceptionally skilled trade negotiators. Now let's move forward on ratification and implementation..."
"Unifor is encouraged by announced amendments to the CUSMA which clear the path to ratification of a deal re replace the damaging NAFTA trade agreement."
"Dark day today for Canadian dairy. CUSMA not only concedes further access to our market for dairy and oversight of our domestic system but will also effectively cap global dairy exports.."
"Other sectors beware...Canada agreed today to what is effectively a self-imposed worldwide cap on its exports of dairy production to please our southern neighbours. This is a dangerous precedent for export sectors in any future trade negotiations."
I predict little criticism of this deal from anywhere, least of all from the Hill & Knowlton NDP. All know the drill and aren't up to opposing the powerful corporate collaborationist forces that want it. Least of all Canadians who have largely ignored the whole business from start to finish.
'Nothing Matters Unless It's Enforced' - Richard Woff on the New NAFTA (and vid)
"As the USMCA continues to steam forward, what could it mean for both free trade and North American workers? Professor Richard Wolff lends us his expertise to bring us up to speed on the matter...'Most of the specific language of the agreement still has not been released to the public. Why not...?"
The Good, the Bad & the Ugly About US-China Trade Breakthrough
"Washington and Beijing announced on Friday that they finally reached a 'historic and enforceable agreement' on a phase one deal that cancels looming tariff hikes, which were set to kick in on Sunday, as well as lowering some of the existing ones. Numerous trade-groups, international organizations and officials lauded the deal which could pave the way to an end to the longstanding US-China trade war. US stock indexes hit record highs. However not everyone shared in the optimism..."
'We Must Show US That The Jokes Are Over': Top German MP Says Berlin Shouldn't Sit Idle As Washington Hypes Its Energy Projects
"This week, US lawmakers introduced a bill tightening the chokehold on Germany's flagship energy project it jointly runs with Russia, targeting European companies laying underwater tubes for the much talked about Nord Stream 2 pipeline. Foreign Minister Heiko Maas said that European energy policy is made in Europe, not in the US..."
US Treasury Chief Lauds Sanctions as Alternative To Military Conflicts...
"Sanctions imposed on some stubborn countries are a better option than military conflict, Steve Mnuchin claimed, just as the US rolled out fresh penalties against Iran and EU firms helping build a German-Russian pipeline..."
Hustle Or Slow Walk? Timing of New NAFTA Now Up To Canada
"US President Donald Trump and his trade representative Robert Lightizer called the shots many times during the renegotiation of the North American free trade agreement. But one final question is completely out of American hands; how soon will Canada ratify? 'All eyes will be on Canada to get the job done quickly so we can all work together to implement this agreement,' Senate Finance Chair Chuck Grassley said Wednesday as the United-States-Mexico-Canada Agreement (USMCA) reached the floor for debate...The most important thing to understand is that there is no actual 'RATification vote' in Canada's parliament. The federal executive (cabinet) ratifies international treaties once laws and regulations are changed to bring the country into compliance..."
So get ready Canuckle-heads: Bend over, touch your toes and adopt the position. Hope you enjoy it. History will show you did sweet fuck all to stop it.
Claims That The 'NAFTA 2' Agreement is Better Are A Macabre Joke
"...USMCA or NAFTA2, isn't substantially different and remains a document of corporate domination. Meanwhile, Canadian Prime Minister Justin Trudeau [and his henchperson Chrystia Freeland] has been a willing participant in bringing NAFTA 2 to fruition, even going so far as to be a voice for retaining the ability of corporations to use unaccountable tribunals to sue governments, including his own and despite Canada's regulations being the most frequent target.
That dry language may sound neutral, but it is the exact language that is standard in 'free-trade' agreements. This is the language that is invoked by multi-national corporations to demand 'damages' anytime any law or regulation tht upholds health, safety, water or environmental standards prevents them from extracting the biggest possible profit. This is the language invoked in the secret tribunals that adjudicate these cases to rule in favor of corporate plunder and against regulation. When you hear 'customary international law' be afraid. The governments of Canada, Mexico and the United States have once again put a gun to their own heads..."
If only! They will be richly rewarded for their sell out. It is to our heads and those of our children on behalf of the rich and powerful they put this gun to fire. While we continue to help them by putting the blindfolds on our own eyes to ease the pain of passing. One day very soon that easy excuse for surrender by proxy - 'But I'm all right Jack' may no longer be true.