Congress seeks to level trade imbalances
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Where critics see protectionism, others see hope of more sustainable commerce.
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The monthly U.S. trade deficit soared to an all-time high of $60.3 billion in November, sending the dollar tumbling and raising new worries about whether the U.S. economy has become too dependent on borrowing from foreigners.
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Lawmakers on Friday urged the U.S. and Chinese governments to follow two days of high-level talks on trade and economic concerns with concrete action.
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Record imports and surging oil prices helped widen the U.S. trade deficit much more than expected in November to $63.1 billion, despite a ninth consecutive month of record exports, a U.S. Commerce Department report on Friday showed.
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The record trade deficit, a sign of the growing imbalance of the U.S. dollar against other currencies, raised new concerns about the country's indebtedness.
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WASHINGTON -- The Federal Reserve's policy-setting panel spent part of its September gathering discussing the implications of the massive US trade gap, according to minutes of the meeting that were disclosed yesterday.
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The United States wants a World  Trade Organization panel to arbitrate a dispute with India over  its wine and spirit import tariffs, the U.S. trade  representative said on Friday.
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Global Trade's Precarious Balance
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House and Senate negotiators hope to wrap up work on a major rewrite of corporate tax law that would end a nasty trade dispute with Europe while showering more than &#36;130 billion in tax breaks on a wide variety of businesses from ethanol producers to movie makers.
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The managing director of International Monetary Fund said large economic imbalances caused in part by AmericaÂs trade deficit with China and others are a threat.
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Freshmen Senate Democrats asked on  Monday for a role in crafting any new U.S. trade legislation,  joining a similar push by their colleagues in the U.S. House of  Representatives.
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One of the great threats to the American and global economies is trade protectionism. The 2006 election that gave Democrats majorities in the House and Senate tipped toward candidates who ran on protectionism. Think of Sherrod Brown, D-Ohio, Jon Tester,...
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WASHINGTON - The U.S. trade deficit, propelled by a record foreign oil bill, surged to $54 billion in August, the second highest level in history...
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WASHINGTON -- America's trade deficit rose to its second highest level of the year, reflecting higher prices for foreign oil and a continued appetite for Chinese goods despite this year's recalls of tainted products.
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The Bush administration, responding to sanctions imposed against US exports, said Friday it was consulting with Congress on ways to comply with World Trade Organization rules while protecting America&#39;s interests.
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BEIJING -- China wants to keep its trade surplus in check this year, Commerce Minister Bo Xilai said today.
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While record trade deficits and lost manufacturing jobs are election-year campaign issues, US exporters are fuming because Congress has yet to change corporate tax laws that threaten their sales in Europe, America&#39;s biggest foreign market.