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Vendzilla 10-07-2011 11:48 AM

Passing a bill that makes sense?
 
http://www.washingtonpost.com/politi...NQL_story.html

Of course Obama has reservations about it

A measure designed to punish China for undervaluing its currency cleared a key procedural hurdle in the Senate on Thursday morning as a bipartisan majority embraced the populist effort intended to boost the country?s trading position with Beijing.

The measure?s progress came despite concerns from President Obama that it could result in retaliatory sanctions against U.S. companies. A final vote is scheduled for Tuesday.

Harmon 10-07-2011 11:59 AM

http://i.imgur.com/rC2I8.jpg

Barry-xlovecam 10-07-2011 12:12 PM

Why be a member in the WTO ...
Quote:

The Tariff Act of 1930, otherwise known as the Smoot?Hawley Tariff (P.L. 71-361)[1] was an act, sponsored by United States Senator Reed Smoot and Representative Willis C. Hawley, and signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels.[2]

The overall level tariffs under the Tariff were the second-highest in U.S. history, exceeded by a small margin only by the Tariff of 1828[3] and the ensuing retaliatory tariffs by U.S. trading partners reduced American exports and imports by more than half.
Oh wait, the alternatives are not so great ...

We live on cheap goods produced in China.
WalMart (the 18 largest economy in the world) would have bare shelves.
No, they would just buy from some other source in Asia and the wheel keeps turning ...

cherrylula 10-07-2011 12:15 PM

I've seen a lot of things that say "Made in Vietnam" lately.

Vendzilla 10-07-2011 12:19 PM

I buy more from costco these days. Walmart will have to raise it's prices a little


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