WTO and other trade concerns

User Forum Topic
Submitted by patientlywaiting on October 27, 2008 - 1:05pm

Are we nationalizing businesses and giving our banks and other companies competitive advantages by providing them cheap government funds?

America has always encouraged other countries to open up their markets. We've said "look at how prosperous with are without government intervention.

Now we are talking about giving the big 3 automakers taxpayers' money.

Are we violating trade agreements in that process?

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International treaties are
Submitted by patientlywaiting on November 15, 2008 - 9:24am.

International treaties are the law of the land.

*

EU Examines US Automaker Bailout For World Trade Organization Legality
The European Union will closely examine any aid package from the US government to its automakers to ensure it complies with international trade rules, an E.U. spokesman said Friday.

Democrats in Congress want to pass a $25 billion government rescue for the 'Big Three' U.S. automakers: General Motors Corp., Ford Motor Co. and Chrysler LLC. The companies are burning through cash and may face bankruptcy in 2009 without government help.

http://www.autospies.com/news/EU-Examine...

Here is America criticizing
Submitted by patientlywaiting on November 15, 2008 - 9:26am.

Here is America criticizing Korea in 2001.

http://seoul.usembassy.gov/02142001_2.html
Economics & Trade Relations

Washington File

14 February 2001

Transcript: Senators Criticize S. Korea's Bailout of Hyundai

(Resolution says bailout hurts U.S.-Korea relations) (2740)

A group of Republican senators, including Senate Majority Leader Trent
Lott (Republican of Mississippi), put forth a resolution February 13
that criticizes the South Korean government's financial support for
Hyundai Electronics and calls for the U.S. government to take steps to
stop what it calls a "bailout" of that Korean corporation.

Senator Larry Craig (Republican of Indiana) introduced Senate
Concurrent Resolution 10 (S. Con. Res. 10) with a harsh attack on the
bailout and accused Seoul of acting "in bad faith."

Seoul's actions in bailing out a major exporter to the United States
has significantly harmed relations between the two allies, the
resolution says.

S. Con. Res. 10 calls on the Secretary of the Treasury, the Secretary
of Commerce, and the United States Trade Representative to "take
immediately such action as is necessary to assure that the unlawful
bailout by the Republic of Korea is stopped, and its effects fully
offset or reversed."

The resolution also would have the U.S. Trade Representative and
Commerce Secretary "monitor and report to Congress on steps that have
been taken to end this bailout and reverse its effects."

"I am extremely disappointed in Korea's actions in regards to this
matter," Craig told fellow senators.