Stories
Slash Boxes
Comments

SoylentNews is people

'FART' Bill Indicates Trump's Intention to Dump WTO

posted by martyb on Tuesday July 03 2018, @06:17AM   Printer-friendly
from the He-Who-Smelt-It dept.

An Anonymous Coward writes:

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.

Original Submission

 
This discussion has been archived. No new comments can be posted.
'FART' Bill Indicates Trump's Intention to Dump WTO | Log In/Create an Account | Top | 154 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2) by The Mighty Buzzard on Wednesday July 04 2018, @02:47AM (1 child)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Wednesday July 04 2018, @02:47AM (#702323) Homepage Journal

    I'm not a fan of them in general either and most certainly not a fan of them being poorly used. They're mostly an admission that when you have extreme economic differences between nations, it's going to cause problems that need addressing though. That and an admission that nationally subsidized industries are dirty pool and can tank an entire global economic sector if allowed free reign.

    I really wish people would stop thinking in terms of zero-sum scarcity as well. Wealth is not remotely zero-sum. Every effort a human being takes that betters someone's life (including their own) has created wealth from nothing but said effort. Torvalds, for instance, has created insane amounts of wealth with money barely even entering into the equation.

    As for post-scarcity, you and I won't live to see it. I doubt my nephews and nieces will either. Being able to dip into an unlimited well sounds really appealing but we haven't even figured out where the well is or what it would look like yet.

    --
    My rights don't end where your fear begins.
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  
    Total Score:   2  

  • (Score: 2) by acid andy on Friday July 06 2018, @01:12PM

    by acid andy (1683) on Friday July 06 2018, @01:12PM (#703466) Homepage Journal

    Every effort a human being takes that betters someone's life (including their own) has created wealth from nothing but said effort. Torvalds, for instance, has created insane amounts of wealth with money barely even entering into the equation.

    I'm not so sure. If the customer gains more in terms of value than they pay for the good or service it seems to me that that is approaching charity rather than capitalism. Giving value away for free means you lose out on potential profits and end up less wealthy than you otherwise would have been.

    --
    "rancid randy has a dialogue with herself[...] Somebody help him!" -- Anonymous Coward.