Beijing's export subsidies draw a warning from the U.S.: policy is called a 'hidden devaluation,' possibly undermining an economic recovery in Asia

Article Abstract:

US undersecretary of commerce for international trade David Aaron criticized China's policy of increasing rebates on taxes for some exported products, calling the export subsidy a 'hidden devaluation' that is stealing the economic recovery potential of some Asian countries. The criticism came in the wake of the US's $60 bil trade deficit with China and the its commitment to fund the huge deficit to help beleaguered Asian economies. China's export subsidies are putting its export at a lower price compared to other Asian exports, despite the lower prices expected from their devalued currencies.

United States, Exports, Export Controls, China, Economic development, Asia, Chinese foreign relations, United States foreign relations, Export subsidies

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U.S. export agency faces budget cuts, but supporters say it's a vital promoter

Article Abstract:

Congress in considering reductions in the US Trade and Development Agency (TDA) as part of its fiscal stabilization program. TDA officials noted that proposed $5 million reduction would further limit the agency's ability to perform its vital function in trade promotion. The agency conducts feasibility studies, training programs and other activities aimed at convincing foreign buyers to purchase US-made goods. Aside from the proposed budget cuts, Rep. John Mica has proposed a reorganization of the federal trade bureaucracy that could exacerbate TDA's financial problems.

Administrative agencies, Government agencies

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Trade promotion agencies, facing cutbacks, receive little support from Corporate America

Article Abstract:

The Republican Party-dominated Congress intends to dismantle the Commerce and Energy Depts. and reduce the US Export-Import Bank's funding by as much as 30% as part of its federal deficit reduction program. Many trade promotion agencies and small exporters criticized the Congress' plans, stressing that government intervention helped boost their sales in foreign markets. However, the small businesses failed to rally support for their cause among the many Fortune 500 corporations.

Foreign Trade Companies NEC, Other Miscellaneous Nondurable Goods Wholesalers, WHOLESALE TRADE--DURABLE GOODS, Management, Economic policy, Trading companies, United States. Congress, United States. Department of Commerce, Export trading companies, Export-Import Bank of the United States

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