News Report: Currency on the Table in the U.S.-China Trade Talks

Matthew McMullan

Matthew McMullan Communications Manager, Alliance for American Manufacturing

The U.S.-China trade talks continue. There’s a deadline coming up on March 1, when the trade-war timeout is due to end, and U.S. tariffs are to shoot up from 10 percent to 25 percent on $200 billion worth of Chinese products.

President Trump, meanwhile, is starting to float the idea that March 1 isn’t a hard date … which suggests there’s progress being made toward a larger deal. It could also be problematic; the president’s chief negotiator, for instance, doesn’t think giving up this key piece of leverage is a great idea.

But! Another bit of news has leaked out: The two sides are working out an agreement that would govern currency manipulation. Bloomberg reports:

The U.S. is asking China to keep the value of the yuan stable as part of trade negotiations between the world’s two largest economies, a move aimed at neutralizing any effort by Beijing to devalue its currency to counter American tariffs, people familiar with the ongoing talks said.

Currency manipulation has been an American trade complaint against China for years, and some have argued that a deal that doesn’t include a currency rule will ultimately prove to be a disappointment.

Well, it looks like it's still on the table. So I guess it's just like the most talkative president in decades says:

"We are asking for everything that anyone has ever suggested. These are not just 'let's sell corn or let's do this' – it's going to be selling corn but a lot of it – a lot more than anyone thought possible."

 

***

Reposted from AAM

Posted In: Allied Approaches, From Alliance for American Manufacturing

Union Matters

Steel for Wind Power

From the USW

From tumbledown bridges to decrepit roads and failing water systems, crumbling infrastructure undermines America’s safety and prosperity. In coming weeks, Union Matters will delve into this neglect and the urgent need for a rebuilding campaign that creates jobs, fuels economic growth and revitalizes communities. 

Siemens Gamesa last month laid off 130 workers at its turbine blade manufacturing plant in Iowa, just months after GE Renewable Energy decided to close an Arkansas factory and eliminate 470 jobs.

The companies reported shrinking demand for their products, even though U.S. consumption of wind energy increases every year.

America’s prosperity depends not only on harnessing this crucial energy source but also ensuring that highly skilled U.S. workers build the components with the cleanest technology available.

Right now, the nation relies on imported steel and turbine components from foreign manufacturers like China while America’s own steel industry—well equipped for this production—struggles because of dumping and other unfair trade practices.

Steel makes up the bulk of turbine hubs and the wind towers themselves. It’s also used to make the cranes and platforms necessary for installing the towers.

Yet the potential boon to America’s steel industry is just one reason to ramp up domestic production of wind energy infrastructure.

American steel production ranks among the cleanest in the world, while China has the highest carbon emissions of any steelmaking nation and flouts environmental regulations.

The nation’s highly-skilled steelmaking workforce must play an essential role in the deeply-needed revitalization and modernization of the nation’s failing infrastructure. Producing the components for harnessing wind energy domestically and cleanly is an important step that will put Americans to work and position the United States to be world leaders in this growing industry.

 

More ...

There is Dignity in All Work

There is Dignity in All Work