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EU and US Free Trade Talks

Posted: Feb 13, 2013

It will be interesting to see how this affects the US economy--here's a little of what we are looking at:

One aim of the free-trade agreement would be to eliminate or reduce tariffs - taxes that apply to imported goods.

For both the EU and US average tariffs are already low, below 3% on one measure. But further reductions could nonetheless stimulate additional trade and there are some areas where tariffs are much higher, notably food.

Beyond that, the negotiations would try to reduce regulatory barriers to trade. That is more complex, but the experience of Europe's internal market shows it is sometimes possible.

;

Apparently we are less concerned with trade - than with bad jokes and H20 here.

[ In Reply To ..]
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I'll bite on this - sorry I missed yesterday. - Truthhurts

[ In Reply To ..]
In Oct. 2012, Obama singled out trade actions against China, saying the 2009 Chinese tire duties have saved jobs. Labor groups and other important constituencies have praised his position.

But a growing body of research shows tariffs might actually cost U.S. jobs, drive up prices and hurt domestic businesses that use imported materials. The Peterson Institute for International Economics, for instance, found that Obama’s tire tariffs came at a steep price to consumers and to workers in other sectors. The analysts concluded the measure did save about 1,200 tire manufacturing jobs but raised tire costs by about $1.1 billion in 2011. Higher-priced tires reduced spending elsewhere, indirectly lowering retail employment by as many as 3,700 jobs. The money didn’t land in the pockets of tire workers but in “the coffers of tire companies, mainly abroad but also at home,” the study said.

In May, 2012, the US hit China with tariffs as high as 250 percent for selling solar cells below fair value, while also imposing a separate 16 percent tariff to counteract Chinese subsidies to its solar firms.

Commerce said China has sold solar cells in the U.S. anywhere from 18 to 250 percent below fair value. The investigation also determined China has unfairly and directly subsidized between 15 and 16 percent of its solar cell exporters’ costs.

For most of the Chinese firms that sell solar cells or panels in the U.S., the tariffs will range between 34 and 47 percent and they blocked China from buying 4 U.S. wind farm companies (blocking that deal is good).

The above are only 2 examples. So, will it hurt or help our economy if and when he approves free trade with the EU? Both the EU and US should take their time and study what effects it will have on their economy. How are the free trade agreements working with North America? I see a lot of food products coming from countries like Canada, Mexico, Peru, Honduras, Guatamala. Is this hurting our economy?

I also see a lot of food coming from CHINA and we all KNOW China doesn’t have the same pesticide/insecticide/other chemical and fertilizer bans that the U.S. has. Remember the lead paint jewelry for kids and other banned products (Milo’s Kitchen Chicken Jerky for one) and I, for one, avoid all food imported from China, canned and frozen.

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