WASHINGTON, Dec 12- U.S. import prices fell for a second straight month in November as the cost of petroleum and food dropped, suggesting imported inflation pressures remained subdued. Import prices fell 0.6 percent last month after a revised 0.6 percent drop in October, the Labor Department said on Thursday.» Read More
In their interview this morning with my colleague Dylan Ratigan, President Bush's economic advisers emphasized all that was going right with the American economy: low inflation, a strong job market, continued growth and booming exports, whether those exports are driven by a weaker dollar or not.
Japanese exports to the United States fell in September from a year earlier at the fastest pace in four years but overall exports rose, pushing the trade surplus up to a record high.
While the markets are concerned today about the poor quality of financial earnings, Bank of America’s Joe Quinlan tackles a different—but equally important—subject: the rising tide of protectionism in the U.S., which is threatening the profits of now-global U.S. corporations. Quinlan notes that U.S. firms are enjoying a global boom in trade, earnings, capital inflows.
Trade between New Zealand and China is expected to receive a boost next year as both countries are likely to seal the Free Trade Agreement (FTA) by April 2008 at the latest.
Surprisingly positive retail sales data changed the course of stocks this morning as Wall Street once more put its faith in the resilience of the U.S. consumer. Stocks opened higher after futures pointed lower much of the morning.
Citizen Bill Clinton just came back from Europe and he says, "It was expensive over there."I asked the former president if he were he still in the White House, would he be concerned about the weakening dollar, and he said he certainly would. "At this level, it's alright, but if it keeps falling it could become precarious," he said.
Trade policy emerged as the hot-button issue among the nine Republican presidential hopefuls squaring off on Tuesday, but taxes, economic growth and the health of the American middle class also got their fair share of attention in the debate.
So, what does this rising anti-trade sentiment mean for Republican politicians--and Democratic ones, for that matter? It's tricky because, rhetoric aside, most economists and elected officials in both parties in fact DO believe free trade offers the best path to economic growth in a global economy.
So why has this decline in GOP free trade sentiment occurred? Think back to 1992, with Pat Buchanan and Ross Perot both ran for president as populists from the right. Since then, "there’s been a steady erosion in Republican support for free trade," says former Rep. Vin Weber, now an adviser to Republican presidential candidate Mitt Romney.
I've seen a lot of opinion polling, but my jaw dropped when I saw this result from our special NBC News-Wall Street Journal poll of Republicans in advance of next week's presidential candidate debate sponsored by CNBC, MSNBC and the WSJ.
Good morning. Here's what I see for today: 1) We have been talking about the "decoupling" of the U.S. economy from the global economy--not that the U.S. isn't important to global growth (of course it is); but that the world is not as dependent on the U.S. consumer as it had been in the past.
When Erin Burnett's show "Street Signs" called me to talk trade this afternoon, the question was "Is Trade Dead?" I thought, for this Congress, it was--until I did a little reporting. As it happens, Republican and Democratic leadership sources both expect SOME progress on trade before the 2008 elections.
A more flexible yuan would not hold back China's growth or cause deflation but would help Beijing rebalance its economy towards domestic consumption, a top U.S. Treasury official said on Thursday.
The euro zone's trade surplus was smaller than expected in July, unadjusted data showed on Monday, but exports continued to grow more quickly than imports.
China posted a trade surplus of $24.97 billion for August, up from $18.8 billion a year earlier, the customs administration said on Tuesday.
Asia-Pacific leaders said on Sunday they saw "real progress" in world trade talks now underway in Geneva and pledged flexibility and the political will to forge a deal by the end of 2007.
U.S. President George W. Bush said on Wednesday it would help to balance trade if China floated its currency, which has been allowed to appreciate gradually in the past two years but remains tightly managed.
The European Union on Thursday relaxed a ban on exports of British livestock, meat and dairy products that was imposed after an outbreak of foot-and-mouth disease in southeastern England earlier this month.
French wine and spirit makers appear to be clawing their way back into the global market after years of watching foreign taste buds respond to innovative New World wines.