Article Abstract:
Four US business groups plan to raise over $10 million to lobby Congress to normalize trade relations with China. The US Chamber of Commerce, the US-China Business Council, the Emergency Committee for American Trade and the Business Roundtable want the Congress to vote on permanent Normal Trade Relations with China as China has threatened to also discriminate against US companies even if it enters the World Trade Organization.
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Article Abstract:
Negotiations at the global trade talks have broken down because its participants could not agree on the ground rules. Talks at last year's fall summit of the World Trade Organization collapsed because of street protests over farm subsidies and other matters. Other countries are reluctant to deal with the US during an election year. An elected president could lack the authority to approve trade deals without the approval of Congress.
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Article Abstract:
The slump that has been experiencing by the $90-billion US farm sector is actually an export crisis. The problem is partly attributed to the financial crisis in Asia as the US farm shipments to the region in 1998 dropped 27% versus the 14% reduction worldwide. Prices of Arkansas rice and Iowa soybeans are adversely affected by the planting decisions by farmers in southern Brazil.
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