Word: tradings
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...American,” using only American steel in the construction of roads and bridges. Thankfully, this provision did not make it into the final bill that was signed into law. But the “Buy American” controversy is indicative of a turn toward a protectionist trade agenda, especially in the anti-immigrant lobbies of the Republican Party and the labor-union wing of the Democratic Party. This is a trend that should be combated at every turn, especially during a recession of this magnitude...
...results were disastrous; according to the State Department, “while the tariff might not have caused the Depression, it certainly did not make it any better. It provoked a storm of foreign retaliatory measures… Such policies contributed to a drastic decline in international trade...
...consequences of the 1930 tariff package were not limited to economic warfare; the collapse of international trade destroyed the fragile geopolitical stability that had been created after the end of the First World War. Weimar Germany’s economy, already suffering from hyperinflation and political polarization, all but collapsed as a result of the tariff war, leading to the meteoric rise of the National Socialist Workers’ Party in the parliamentary elections of 1932. Today, Hungary and Ukraine are in danger of defaulting on their already-generous IMF loan packages, while South Korea, Taiwan, and Japan fear...
...automakers haven't killed the lawsuit. But they are supporting the Obama Administration's "cap and trade" initiative, which is designed to curb both the use of energy and greenhouse-gas emissions across the entire economy. For carmakers, such legislation would be mostly neutral because they earn credit for making electric vehicles and could spend it on cars that emit too much CO2. GM now notes that one-third of the Cadillac Escalades it sell are hybrids, so it would have plenty of currency. Of course, at this point Detroit is hoping for anything that doesn't have California...
...fetch a good price. The youngest victims, some ages 11 and 12, are sold for as much as $30,000, while others can go for as little as $2,000. "The buying and selling of girls in Iraq, it's like the trade in cattle," Hinda says. "I've seen mothers haggle with agents over the price of their daughters." (See pictures of Iraq since the fall of Saddam Hussein...