Friday, December 7, 2007

U.S.-China Trade War Brewing

Before the hot stuff starts:

Paulson feels heat as China talks drag

"For more than a year, US Treasury Secretary Henry Paulson, a former head of Goldman Sachs & Co., has persuaded congressional critics of China to put off punitive action while he conducts wide-ranging talks with Chinese leaders on economic disputes.

Beijing appears to be growing tired of listening to a lengthening litany of American complaints."

U.S. to Pressure China on Food and Product Safety at Coming Trade Talks

"As Mr. Paulson prepares for the third round of the semiannual dialogue which begins here next week, the safety of imported goods is a priority, trumping broader economic concerns.

Since the dialogue began, disagreements with China have actually multiplied. The Commerce Department and the United States trade representative’s office have taken China to court at the World Trade Organization, charging it with a failure to enforce laws against piracy and counterfeiting of goods and trademarks.

China is irritated that in many of these areas, the United States has threatened or imposed duties or taken China to court at the World Trade Organization."