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The Trump administration has crafted a draft bill — ordered by the president — that would declare America's abandonment of World Trade Organization rules, according to Axios. The bill essentially provides President Donald Trump — who has argued for a better position for the U.S. in big trade pacts — a license to raise U.S. tariffs at will, without congressional consent and largely outside of the international rules governed by the WTO. The bill, titled the "United States Fair and Reciprocal Tariff Act," would give Trump unilateral power to ignore the two most basic principles of the WTO and negotiate one-on-one with any country.
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'FART' Bill Indicates Trump's Intention to Dump WTO
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It's not reality that's important, but how you perceive things.
(Score: 3, Insightful) by isostatic on Tuesday July 03 2018, @07:40AM (7 children)
Print a $21b note, job done.
National economies are not like household accounts.
(Score: 4, Insightful) by bob_super on Tuesday July 03 2018, @07:47AM
You're off by three zeros.
Printing a note valued at a year's worth of GDP is a great way to convince investors to put their money elsewhere, which doesn't quite jive with a trillion per year federal deficit.
(Score: 3, Insightful) by Anonymous Coward on Tuesday July 03 2018, @09:19AM (5 children)
We already print money like it's nothing. How do you think we got into this situation in the first place?
(Score: 0) by Anonymous Coward on Tuesday July 03 2018, @04:21PM (4 children)
Please elaborate. Inflation has been sub-par until very recently.
(Score: 2) by DeathMonkey on Tuesday July 03 2018, @08:26PM (3 children)
Inflation is at its highest rate since 2012. [inman.com]
(Score: 3, Insightful) by The Mighty Buzzard on Wednesday July 04 2018, @01:56AM (1 child)
Dude, inflation has been nonexistent to piddly since late Clinton, early Bush. Saying it's a record since 2012 is like saying one street puddle is deeper than another; you still can't fish in either of them.
My rights don't end where your fear begins.
(Score: 2) by arslan on Wednesday July 04 2018, @07:08AM
Gotta love wordsmithy stats. Oblig. dilbert: https://morningstoryanddilbert.files.wordpress.com/2014/06/91764-strip.gif [wordpress.com]
(Score: 2) by isostatic on Wednesday July 04 2018, @07:15AM
10 year rolling US inflation over the last 40 years.
https://i.imgur.com/wIgfDoX.png [imgur.com]