Money Markets
US leads the way in scramble for favourable deal
Activists demonstrate against the Doha Round global trade talks inside the Geneva International Conference Centre on December 2, 2009 in Geneva. Photo/REUTERS
Posted Friday, December 4 2009 at 00:00
Automobiles and related parts is another one of these “sectorals” where the US wants to drive into Delhi and Shanghai with General Motors or its giant, if now ailing cousins.
Other kinds of goods the US wants to sell without tariffs: bicycles, electrical goods, electronic products, fish and fish products, forest products, gems and jewellery, industrial machinery, clothing and footwear.
“There will be proposals to have zero tariffs in all of these areas,” says Prof. Evenett. “But these are only proposals. This has not been accepted.”
Naturally, as seen from India and China.
In many of these sectors (sectorals for someone anxious to sound WTO-literate) the two countries have strong production spilling over to exports.
No one wants to buy what they are themselves making and selling.
To ‘Buy American’ is controversial enough within the US For the rest of the world to skip their own and also buy American could be non-controversial – many might not even consider it.
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