Sunday, November 30, 2003
Intelligent Fasteners Could Change Everything
Tuesday, November 25, 2003
Have a safe and enjoyable Thanksgiving weekend!
Armed with urine bottles, ball bearings, and wrist rockets...
Monday, November 24, 2003
Equipment Spending Expected To Accelerate
The word "boom" is not being used. But Global Insight, a Waltham, Mass. economic forecasting firm, expects business spending on equipment, which posted a substantial increase in this year's third calendar quarter, to gain more momentum during the next few quarters. "Improving cash flow, bonus depreciation and attractive prices on capital goods are loosening business purse strings," its economists observe.
Inflation-adjusted spending on computers, for example, should increase at nearly a 40% annual rate this quarter, after rising at a 46% annual rate in the third quarter. Adds Global Insight, "We expect nominal spending on computers by business to be back to $95 billion [annual rate] by mid-2004. That was the peak level of spending before the tech bubble burst." - John S. McClenahen
Inflation-adjusted spending on computers, for example, should increase at nearly a 40% annual rate this quarter, after rising at a 46% annual rate in the third quarter. Adds Global Insight, "We expect nominal spending on computers by business to be back to $95 billion [annual rate] by mid-2004. That was the peak level of spending before the tech bubble burst." - John S. McClenahen
Friday, November 21, 2003
eBags.com comes out with self-tailored pages for affiliates
Wednesday, November 19, 2003
U.S. Agency OKs Textile Relief; Talks With China Are Next Step
Now that the federal interagency Committee for the Implementation of Textile Agreements (CITA) has voted to give the U.S. textile industry some trade relief, negotiations between the U.S. and China are the next step.
Responding to petitions filed by the U.S. textile industry, CITA voted Nov. 17 to invoke "safeguard" relief on knit fabric, dressing gowns and robes, and brassieres imported from China, the U.S. Commerce Department announced Nov. 18. The U.S. textile industry filed the petitions under a provision of China's accession agreement to the World Trade Organization (WTO). The provision allows the U.S. and other WTO members to impose temporary quotas on textile imports when those goods cause "market disruption."
The American Textile Manufacturers Institute (ATMI) applauded CITA's decision. "This is only the beginning. Today's decision sends a strong signal to Chinese officials that they should take immediate steps to cease their attempts to dominate international trade in textiles and apparel. . . ," said ATMI Interim President Cass Johnson in a statement.
"We look forward to beginning our consultations with the [People's Republic of China], with the goal of achieving a mutually beneficial result on this issue," says U.S. Commerce Secretary Donald Evans. - John S. McClenahen
Responding to petitions filed by the U.S. textile industry, CITA voted Nov. 17 to invoke "safeguard" relief on knit fabric, dressing gowns and robes, and brassieres imported from China, the U.S. Commerce Department announced Nov. 18. The U.S. textile industry filed the petitions under a provision of China's accession agreement to the World Trade Organization (WTO). The provision allows the U.S. and other WTO members to impose temporary quotas on textile imports when those goods cause "market disruption."
The American Textile Manufacturers Institute (ATMI) applauded CITA's decision. "This is only the beginning. Today's decision sends a strong signal to Chinese officials that they should take immediate steps to cease their attempts to dominate international trade in textiles and apparel. . . ," said ATMI Interim President Cass Johnson in a statement.
"We look forward to beginning our consultations with the [People's Republic of China], with the goal of achieving a mutually beneficial result on this issue," says U.S. Commerce Secretary Donald Evans. - John S. McClenahen
Tuesday, November 18, 2003
Business Inventories Jump
As demand increases in the U.S. economy, so, apparently, do inventories.
Business inventories, adjusted for seasonal variations but not for price changes, were at $1.177 trillion at the end of September, the U.S. Commerce Department estimated on Nov. 17. That level was 0.3% higher than in August of this year and 1.6% higher than the end-of-the-month figure for September 2002.
Economists generally had expected no change between the August and September inventory numbers.
Maury Harris, chief U.S. economist at UBS Investment Research, New York, notes that the Commerce Department plugged a 0.2% drop in September inventories into its initial calculation of third-quarter GDP growth. Harris now expects Commerce to revise its initial 7.2% annual rate figure to about 8%. - John S. McClenahen
Business inventories, adjusted for seasonal variations but not for price changes, were at $1.177 trillion at the end of September, the U.S. Commerce Department estimated on Nov. 17. That level was 0.3% higher than in August of this year and 1.6% higher than the end-of-the-month figure for September 2002.
Economists generally had expected no change between the August and September inventory numbers.
Maury Harris, chief U.S. economist at UBS Investment Research, New York, notes that the Commerce Department plugged a 0.2% drop in September inventories into its initial calculation of third-quarter GDP growth. Harris now expects Commerce to revise its initial 7.2% annual rate figure to about 8%. - John S. McClenahen
Thursday, November 13, 2003
Technologies Of The Year -- Making A Material Difference
Hot Wheels: Mattel's die-cast racing miniatures turn 35
Tuesday, November 11, 2003
U.S. 'Disagrees' With WTO Steel Ruling
The United States "disagrees" with Nov. 10's World Trade Organization ruling that Washington's steel tariffs violate global trading rules and will review the decision "carefully," officials said.
The U.S. Trade Representative's (USTR) office gave no indication of exactly how Washington would respond to the latest blow from the WTO. But the USTR noted in a statement that the tariffs, known as the "temporary steel safeguard measures" imposed by President George W. Bush, "were intended to provide the domestic industry with the breathing space needed to restructure and consolidate."
The statement said the WTO appellate panel rejected some of the arguments raised by U.S. trade partners objecting to the tariffs but that the conclusion was unfavorable to Washington.
"While we are pleased to see [that] the Appellate Body upheld the panel's rejection of some of the arguments raised by the complainants, we disagree with the overall Appellate Body findings," the statement said. "We will be reviewing the WTO report carefully."
But the ruling clearly marked a setback for Washington, which could face new sanctions on the United States in addition to the billions of dollars of punitive tariffs expected from the EU in another dispute over export tax breaks for U.S.-based multinationals.
The European Union has threatened to impose $2 billion in retaliatory sanctions if the steel tariffs are not lifted, and Japan is considering sanctions as well.
The steel tariffs have been controversial at home as well as abroad, with some industries arguing the measures have boosted prices of materials for manufacturing of automobiles and other goods.
One trade group opposing the tariffs, the Consuming Industries Trade Action Coalition Steel Task Force (CITAC), urged the U.S. administration to terminate the steel tariffs immediately.
"In addition to the continuing damage and job losses that the tariffs are causing U.S. steel consumers, the U.S. now faces billions of dollars in retaliatory tariffs by our trading partners," CITAC chairman William Gaskin said. "For the sake of the U.S. manufacturing sector, it's time to end the tariffs now."
But Nancy Gravatt, spokeswoman for the steel industry trade association, the American Iron and Steel Institute, called on the White House to keep the tariffs for the full three years as intended to allow the industry to recover from one of its deepest slumps.
"We would be urging President Bush not to buckle under pressure from the EU," Gravatt said. "We feel if the rug is pulled out halfway through the program, there will be major repercussions. The consolidation of the industry is only halfway through and workers in many industries are looking at this as a test case."
Bush imposed the tariffs in March 2002 under section 201 of U.S. trade law, which do not require "dumping" at unfair prices or with unfair subsidies but evidence that an industry is hurt by foreign competition. He argued that temporary tariffs of up to 30% on most foreign steel were necessary to protect ailing U.S. steel mills and their workers.
The European Union initiated the move against Washington's safeguard measures and was joined by Brazil, China, Japan, New Zealand, Norway, South Korea and Switzerland in a complaint lodged at the Geneva-based WTO last year. - Agence France-Presse
The U.S. Trade Representative's (USTR) office gave no indication of exactly how Washington would respond to the latest blow from the WTO. But the USTR noted in a statement that the tariffs, known as the "temporary steel safeguard measures" imposed by President George W. Bush, "were intended to provide the domestic industry with the breathing space needed to restructure and consolidate."
The statement said the WTO appellate panel rejected some of the arguments raised by U.S. trade partners objecting to the tariffs but that the conclusion was unfavorable to Washington.
"While we are pleased to see [that] the Appellate Body upheld the panel's rejection of some of the arguments raised by the complainants, we disagree with the overall Appellate Body findings," the statement said. "We will be reviewing the WTO report carefully."
But the ruling clearly marked a setback for Washington, which could face new sanctions on the United States in addition to the billions of dollars of punitive tariffs expected from the EU in another dispute over export tax breaks for U.S.-based multinationals.
The European Union has threatened to impose $2 billion in retaliatory sanctions if the steel tariffs are not lifted, and Japan is considering sanctions as well.
The steel tariffs have been controversial at home as well as abroad, with some industries arguing the measures have boosted prices of materials for manufacturing of automobiles and other goods.
One trade group opposing the tariffs, the Consuming Industries Trade Action Coalition Steel Task Force (CITAC), urged the U.S. administration to terminate the steel tariffs immediately.
"In addition to the continuing damage and job losses that the tariffs are causing U.S. steel consumers, the U.S. now faces billions of dollars in retaliatory tariffs by our trading partners," CITAC chairman William Gaskin said. "For the sake of the U.S. manufacturing sector, it's time to end the tariffs now."
But Nancy Gravatt, spokeswoman for the steel industry trade association, the American Iron and Steel Institute, called on the White House to keep the tariffs for the full three years as intended to allow the industry to recover from one of its deepest slumps.
"We would be urging President Bush not to buckle under pressure from the EU," Gravatt said. "We feel if the rug is pulled out halfway through the program, there will be major repercussions. The consolidation of the industry is only halfway through and workers in many industries are looking at this as a test case."
Bush imposed the tariffs in March 2002 under section 201 of U.S. trade law, which do not require "dumping" at unfair prices or with unfair subsidies but evidence that an industry is hurt by foreign competition. He argued that temporary tariffs of up to 30% on most foreign steel were necessary to protect ailing U.S. steel mills and their workers.
The European Union initiated the move against Washington's safeguard measures and was joined by Brazil, China, Japan, New Zealand, Norway, South Korea and Switzerland in a complaint lodged at the Geneva-based WTO last year. - Agence France-Presse
Wednesday, November 05, 2003
Small Firms Still Struggle To Offer Health Insurance
Tuesday, November 04, 2003
Rethinking Energy Management
Monday, November 03, 2003
Specialty Steel Producers Continue to Lose Market Share to Imports
Total specialty steel imports capture 26% U.S. market share through August 2003, up two percentage points over the same period last year.
