16 Burst results for "Rachel Brewster"

"rachel brewster" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

03:45 min | 7 months ago

"rachel brewster" Discussed on WNYC 93.9 FM

"Com From marketplace I'm so Raven ashore in for David Bronco Russia's invasion of Ukraine is making the job of the U.S. Central Bank a lot tougher Top federal reserves reserve officials are set to meet next month They're going to decide whether to raise interest rates to fight inflation Now they have to factor in the invasion Marketplace is Nancy Marshall joins me now to talk about a morning Nancy Good morning So why would the crisis in Ukraine affect the Federal Reserve It's putting pressure on oil prices since Russia is a big oil supplier And Russia is also a major producer of metals so those prices also went up and sabri this just adds to the inflation the fed is trying to tame The fed might also have to deal with the situation called stagflation where you have higher prices but slowing economic growth How can might that complicate things Well the fed doesn't want to raise interest rates so much that it tips the economy into a recession and stagflation just increases that risk at Diane swank the chief economist at grant Thornton remembers what it was like in the 1970s when super high oil prices collided with rising employment It was the worst of all worlds of people losing their jobs or the economy stagnating as inflation continued to march higher So losing purchasing power as well And that's why it's something we worry about so much Have fed officials said anything about this Not directly Fed governor Christopher Waller did say walder did say yesterday he'd still be open to raising interest rates by a half percentage point when they meet next month although he did say he'd keep his eye on the economic data Other fed officials were more cautious saying they were open to a smaller rate hike All right marketplace doesn't need some commercial guns Thank you You're welcome Ukraine's military has shut down commercial shipping at its ports which are located along the northern edge of the Black Sea This comes after reports Russia suspended commercial shipping traffic along Ukraine's easternmost coast The Black Sea region is a major trading hub for both Russia and Ukraine marketplace is Justin Ho has more on how the conflict is disrupting trade routes there Russia and Ukraine's ports on the Black Sea are big export hubs for wheat corn and crude oil that gets loaded from pipelines and on the ships A lot of fertilizer coming out of the Black Sea is a big ammonia producer which is used in fertilizer production Vivek srivastava is senior trade analyst at vessels value And there's a lot of things I still product produced in the Black Sea region Traverse says Black Sea trade has been slowing down over the past few weeks Now that Russia has invaded Ukraine we might well see refusing to send their ships into the vaccine region Trade in the Black Sea could be disrupted further If Russia decides to blockade Ukrainian ports and it would further isolate Ukraine It says Rachel Brewster a professor at duke law school You know blockading the ports could lead to major shortages within Ukraine That's because Brewster says a blockade would make it harder for aid to get into the country I'm Justin Ho for marketplace Volatility on markets continues the Dow S&P and NASDAQ indexes indices all ended in positive territory yesterday after plummeting at first when Russia started its invasion The NASDAQ finished Thursday up 3.3% after falling by as much as three and a half percent earlier in the day Let's see how things are shaping up this morning.

Ukraine Russia Fed David Bronco U.S. Central Bank Nancy Marshall Diane swank Black Sea Christopher Waller sabri Justin Ho easternmost coast The Black Se grant Thornton walder Vivek srivastava Black Sea region Traverse Rachel Brewster duke law school Brewster
"rachel brewster" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:32 min | 9 months ago

"rachel brewster" Discussed on WNYC 93.9 FM

"The biggest drop in a week in a single week for stocks since the pandemic with the S&P down 5.7% in just the last 5 days This morning market participants are seeing more reasons to move away from riskier assets like stocks with the news the U.S. is telling families of its diplomats in Ukraine to leave that country in case of Russian hostilities Right now London's 100 share index down 1.9% Germany France and Amsterdam all down in a similar range Add to this a U.S. Federal Reserve policy meeting on interest rates and inflation later this week Here's marketplace's nova sapho David ware money is flowing in and out of tells you a lot right now oil prices are around a 7 year high as Russia is threatening military invasion of Ukraine Russia is of course a major oil and gas supplier the U.S. and Europe have promised a strong response The question is what would it look like if Russia and fates what would that response be And what would it do if anything to global oil supplies We just don't know yet Meanwhile stocks are in a sell off especially tech stocks which reached very high prices during the pandemic so many investors see them as riskier now especially if the fed starts raising interest rates sooner and faster than Wall Street has been expecting The NASDAQ composite index which includes a lot of tech companies is down about 13% for the year That's in just three weeks It's only late January It's been a rough few weeks for tech stocks Yeah and recently when we've seen dips in prices investors look for bargains and there's a jump in buying the next day not so much in recent days Yeah not so much that pattern doesn't appear to be holding this time around at least not on a big scale They've also been some disappointing headlines with regards to recent corporate earnings reports Netflix last week of course as we reported surprised by projecting subscription growth will be slow a lot over the next few months That adds to the uncertainty suggesting the effects of pandemic are a stimulus are waning What might change the narrative is the fed We'll see what comes out of their policy meetings tomorrow on Wednesday All right nova thank you The key stock index on the Moscow exchange is down more than 4% right now that would be as if the Dow Jones Industrial Average were to drop 1400 points The Dow future is down 227 points or 7 tenths of a percent The S&P future is down 1.1% The NASDAQ future is down one and a half percent Not a how bugs a terrible storm in Western Canada last year and pandemic distortions are contributing to sky high lumber prices in the U.S. wood is up by almost a third since September affecting new home prices and the cost of fixing up older ones Here's marketplaces Justin hoe A lot of what's been going on with lumber prices has to do with the supply of Canadian lumber Mark Fleming is chief economist at first American Canadian pine is highly sought after for home building because of its strength And in November a major storm hit British Columbia Washing out the rail lines that lumber mills rely on Brian Leonard is a lumber analyst with RCM alternatives It stopped shipments by a good 20% and a 100% certain places Leonard says that complicated the supply chain problems the lumber industry had already been dealing with Less truckers less rail employees because of COVID showing up things like that So the whole system kind of broke down At almost the same time last year a 40 year ongoing trade dispute with Canada came to a head says Rachel Brewster a professor at duke law school The core of the dispute between the United States and Canada is whether or not Canada subsidizing their lumber industry And in November the commerce department doubled its tariff on Canadian softwood lumber imports to almost 18% Doubling the tariff rates I mean that is going to increase the price of lumber This is also happening while the Canadian lumber industry is dealing with another older problem A beetle infestation that's been devastating pine forests in Canada since the 1990s leaving behind millions of dead trees and the risk of wildfires Since economist Mark Fleming with first American Increased risk of wildfires increased devastation of wildfires in the 2017 and 2018 error has effectively created now a shortage of trees to be cut down in Canada and exported to the United States Fleming says this is different from the supply chain problems that have caused shortages of other home building materials during the pandemic How do you fix a supply shortage driven by a sheer lack of something like a tree which takes a long time to grow And in the meantime Fleming says demand for new homes will continue to.

Russia David ware Ukraine United States fed Mark Fleming Justin hoe first American Canadian pine Amsterdam RCM alternatives Germany France
"rachel brewster" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

03:41 min | 9 months ago

"rachel brewster" Discussed on WNYC 93.9 FM

"In just the last 5 days This morning market participants are seeing more reasons to move away from riskier assets like stocks With the news the U.S. is telling families of its diplomats in Ukraine to leave that country in case of Russian hostilities Right now London's 100 share index is down 1% Germany and France are down one and a half percent and U.S. stock index futures turned down in the last two and a half hours add to this a U.S. Federal Reserve policy meeting on interest rates and inflation later this week Here's marketplaces novos safo David ware money is flowing in and out of tells you a lot right now oil prices are around a 7 year high as Russia is threatening military invasion of Ukraine Russia is of course a major oil and gas supplier the U.S. and Europe have promised a strong response The question is what would it look like if Russia Russia and faith what would that response be and what would it do if anything to global oil supplies we just don't know yet Meanwhile stocks are in a sell off especially tech stocks which reached very high prices during the pandemic so many investors see them as riskier now especially if the fed starts raising interest rates sooner and faster than Wall Street has been expecting The NASDAQ composite index which includes a lot of tech companies is down about 13% for the year That's in just three weeks It's only late January It's been a rough few weeks for tech stocks Yeah and recently when we've seen dips in prices investors look for bargains and there's a jump in buying the next day not so much in recent days Yeah not so much that pattern doesn't appear to be holding this time around at least not on a big scale They've also been some disappointing headlines with regards to recent corporate earnings reports Netflix last week of course reported as we reported surprised by projecting subscription growth will be slow a lot over the next few months That adds to the uncertainty suggesting the effects of pandemic are stimulus or waning What might change the narrative is the fed We'll see what comes out of their policy meetings tomorrow on Wednesday And Wednesday nova thanks Tao and S&P futures are down three 10% now for the NASDAQ down 5 10% Somebody's going into bonds with the ten year interest rate down at 1.73% Now to a story about how pandemic distortions and a terrible storm about two months ago in Western Canada is affecting the building of new houses and home renovations in the U.S. this week will get an update on new home sales covering December in the U.S. and the increased cost of building materials will be a factor Think lumber with prices up by almost a third since September marketplace is Justin Ho has that A lot of what's been going on with lumber prices has to do with the supply of Canadian lumber Mark Fleming is chief economist at first American Canadian pine is highly sought after for home building because of its strength And in November a major storm hit British Columbia Washing out the rail lines that lumber mills rely on Brian Leonard is a lumber analyst with RCM alternatives It stopped shipments by a good 20% And a 100% certain places Leonard says that complicated the supply chain problems the lumber industry had already been dealing with Less truckers less rail employees because the COVID showing up and things like that So the whole system kind of broke down At almost the same time last year a 40 year ongoing trade dispute with Canada came to a head says Rachel Brewster a professor at duke law school The core of the dispute between the United States and Canada is whether or not Canada subsidizing their lumber industry And in November the commerce department doubled its tariff on Canadian softwood lumber imports to almost 18% Doubling the tariff rates I mean that is going to increase the price of lumber This is also happening while the Canadian lumber industry is dealing with another older.

"rachel brewster" Discussed on WBUR

WBUR

07:24 min | 1 year ago

"rachel brewster" Discussed on WBUR

"Kind of rebel It is Tuesday. Today, the eighth of June. Get as always to have you long, everybody. We are going to do a 12 to start things off today. A macro micro thing. Big picture and then granular look inside the gears of this economy. The case study at hand is the supply chain on which we have spent, as you know, no small amount of time the past couple of months, shortages and price spikes, logistical bottlenecks. Well to that end, the Biden administration says it has a plan. The supply chain disruptions Task force will the thinking goes Increased domestic production of critical inventory, like semiconductors and batteries that was announced today. It is also by the way, an admission that we are not going to be able to make everything we need. Ourselves. Marketplaces Justin Ho is on the macro desk today. What the Biden administrations really doing here is trying to reduce the economy's dependence on China. They're talking about trying to reduce dependence on other countries for rare Earth That's mainly China. Katie Rust is an economics professor at U. C. Davis. They're talking about trying to safeguard and encourage domestic sources of key pharmaceutical ingredients. Here. We import a lot of those from China. So the idea instead is to rely more on American allies as trading partners, says Rachel Brewster at Duke Law School. When we're discussing semiconductors are major allies will be South Korea, JAPAN, Taiwan When we move on to pharmaceuticals, it's going to be made much more in Europe. But there's a problem with that, says Emily Blanchard at Dartmouth. We have been antagonizing many of the same trading partners for a number of years, The Trump Administration slapped tariffs on trade with a lot of these countries, and even now, tariffs on European metals remain in place. I think here we are sensing a very deliberate and intentional policy shift by the Biden administration to say Let's deal with some of these national security concerns with our neighbors, not despite our neighbors, Blanchard says. We don't have the capacity to manufacture. Everything we need in the U. S. Would be a fool's errand, she says to try to go it alone. I'm Justin. How for marketplace? Micro Part of this supply story today comes to us from the National Federation of Independent Business, which released its small Business Optimism index this morning. The group's monthly survey of business owners in retailing construction manufacturing also services Among the highlights. 40% of small business owners plan on raising prices the most since 1981 marketplaces, Kristin Schwab made some calls. Bobby Williams in Columbia. South Carolina, is facing some tough competition not for who can make the best catfish or country fried steak. But who can Lauren workers like they say if you can fog a mirror? We will hire. Yeah, well, we just need some bodies. Right now. Williams raised starting wages at his restaurant Lizard's thicket to $10 an hour, up from eight. Meanwhile, prices of everything from pork to plastic goods are soaring. Bacon has doubled food prep gloves quadrupled because manufacturing processing trucking everything is backed up. Every week. There's five or six items that are out of stock. Williams has had to pass the costs on to customers because he simply can't sell more to make more money. Labor and supply shortages are holding business owners down. The big issue is that they aren't able to take advantage of that increasing demand for their good or service. Holly Wade is with the National Federation of Independent Business, which found half of small business owners had unfilled job openings in May, and of those more than 90% say there were few or no qualified applicants. That's jeweler Becky Bush inculcate problem in a chemist Michigan her Goldsmith moved to Hawaii during the pandemic. She needs sales associates to I can train people to sell, but I can't train people to have a personality finding people with that, you know. Hi, How are you in the it's more of a high She, too has had to raise wages, and that's not her only problem. Her suppliers are raising prices because mines and manufacturers overseas are still dealing with pandemic disruptions. I'm Kristin Schwab for Marketplace on Wall Street today, not a whole lot of enthusiasm either way, really, We'll have the details when we do the numbers. Bitcoin is trading today in the $32,000 range well off its recent highs, but more to the point down 8% or so from just yesterday. Perhaps probably most likely because the Department of Justice announced yesterday it has done something never before done in the fight against ransom, where they traced and got back some of the ransom the colonial pipeline paid. In Bitcoin to the hacking group known as dark Side that the tracking and tracing and reclaiming its not supposed to happen with Cryptocurrencies, at least not very easily. Marketplaces supreme ensure as more now and what this might mean for the epidemic of hacking that a lot of companies are dealing with right now. James helps run a small business in the Midwest with about 35 employees were not using his full name to protect his company showed up in the office one morning early last year Plane basically Couldn't do anything on our computers. It was a ransomware attack. They sent us kind of a cryptic ransom notes with broken English, asking for tens of thousands of dollars and Bitcoin. Hackers have been holding companies hostage since long before Cryptocurrencies were invented. But Cryptocurrencies can offer anonymity or at least a method of payment outside the control of law enforcement. It's allowed digital ransom and extortion to explode in recent years. Nick Weaver is a lecturer and computer science at U. C. Berkeley. It's probably in the couple billion dollar a year. Revenue for the ransom work gangs and collateral damage is probably 1 to 2 orders of magnitude greater on the face of it. The fact that the FBI was able to crack into a Bitcoin wallet and take back the money would appear to threaten one of the foundations of this criminal industry. But Mark Rash isn't so sure. He's general counsel of Cyber Security Threat Intelligence company unit to 20. And be part of the reason they they are successful in being able to claw back. A specific transaction is likely that they work closely with colonial pipeline in making the payment in the first place. The FBI recovered about $2 million that presumably could not get back the many tens of millions the hacking group took from countless other companies. It will probably take years of effort and regulation before the tide turns in the cat and mouse game between law enforcement and hackers, James, By the way, the guy whose company was act, he didn't end up paying a ransom. He had backups of all his data. In New York. I'm simply vanish or for marketplace. Always back.

Emily Blanchard Rachel Brewster Mark Rash Katie Rust Kristin Schwab Bobby Williams $32,000 James Nick Weaver New York Holly Wade Columbia Hawaii Duke Law School 8% Becky Bush yesterday Today May National Federation of Indepen
"rachel brewster" Discussed on WBEZ Chicago

WBEZ Chicago

05:03 min | 1 year ago

"rachel brewster" Discussed on WBEZ Chicago

"In Los Angeles. I'm calling Ridsdel it is Tuesday. Today, the eighth of June get is always to have you long, Everybody. We are going to do a 12 to start things off today a macro micro thing. Big picture and then granular look inside the gears of this economy. The case study at hand is the supply chain on which we have spent, as you know, no small amount of time the past couple of months, shortages and price spikes, logistical bottlenecks. Well to that end, the Biden administration says it has a plan. The supply chain disruptions Task force will the thinking goes Increased domestic production of critical inventory, like semiconductors and batteries that was announced today. It is also by the way, an admission that we are not going to be able to make everything we need ourselves. Marketplaces. Justin Ho is on the macro desk today. What the Biden administrations really doing here is trying to reduce the economy's dependence on China. They're talking about trying to reduce dependence on other countries for rare Earth That's mainly China. Katie Rust is an economics professor at U. C. Davis. They're talking about trying to safeguard and encourage domestic sources of key pharmaceutical ingredients. Here. We import a lot of those from China. So the idea instead is to rely more on American allies, his trading partners, says Rachel Brewster at Duke Law School. When we're discussing semiconductors are major allies will be South Korea, Japan, Taiwan. When we move on to pharmaceuticals, it's going to be made much more in Europe. But there's a problem with that, says Emily Blanchard at Dartmouth. We have been antagonizing many of these same trading partners for a number of years. The Trump Administration slap tariffs on trade with a lot of these countries, and even now, tariffs on European metals remain in place. I think here we are sensing a very deliberate and intentional policy shift by the Biden administration to say Let's deal with some of these national security concerns with our neighbors, not despite our neighbors, Blanchard says. We don't have the capacity to manufacture. Everything we need in the U. S. Would be a fool's errand, she says to try to go it alone. I'm Justin. How for marketplace? Micro Part of this supply story today comes to us from the National Federation of Independent Business, which released its small Business Optimism index this morning. The group's monthly survey of business owners in retailing construction manufacturing also services Among the highlights. 40% of small business owners plan on raising prices the most since 1981 marketplaces, Kristin Schwab made some calls. Bobby Williams in Columbia. South Carolina, is facing some tough competition not for who can make the best catfish or country fried steak. But who can Lauren workers like they say if you can fog a mirror? We will hire. Yeah, well, we just need some bodies. Right now. Williams raised starting wages at his restaurant Lizard's thicket to $10 an hour, up from eight. Meanwhile, prices of everything from pork to plastic goods are soaring. Bacon has doubled food prep gloves quadrupled because manufacturing processing trucking everything is backed up. Every week. There's five or six items that are out of stock. Williams has had to pass the costs on to customers because he simply can't sell more to make more money. Labor and supply shortages are holding business owners down. The big issue is that they aren't able to take advantage of that increasing demand for their good or service. Holly Wade is with the National Federation of Independent Business, which found half of small business owners had unfilled job openings in May, and of those more than 90% say there were few or no qualified applicants. That's jeweler Becky Bush inculcate problem in a chemist Michigan her Goldsmith moved to Hawaii during the pandemic. She needs sales associates to I can train people to sell, but I can't train people to have a personality finding people with that, you know. Hi, How are you in the it's more of a high She, too has had to raise wages, and that's not her only problem. Her suppliers are raising prices because mines and manufacturers overseas are still dealing with pandemic disruptions. I'm Kristin Schwab for Marketplace on Wall Street today, not a whole lot of enthusiasm either way, really, We'll have the details when we do the numbers. Bitcoin is trading today in the $32,000 range well off its recent highs, but.

Emily Blanchard Rachel Brewster Katie Rust Bobby Williams Kristin Schwab $32,000 Justin Ho Columbia Hawaii Holly Wade Los Angeles Today Becky Bush May Williams Blanchard Duke Law School Tuesday National Federation of Indepen five
"rachel brewster" Discussed on KQED Radio

KQED Radio

05:28 min | 1 year ago

"rachel brewster" Discussed on KQED Radio

"C three A. I c three AI software enables organizations to use artificial intelligence at enterprise scale solving previously unsolvable problems. I I This is Enterprise a I and bipac the tax compliance tax jar. In Los Angeles sometime rebel it is Tuesday. Today, the eighth of June. Good as always, to have you along, everybody. We are going to do a 12 to start things off today, a macro micro thing. Big picture and then granular look inside the gears of this economy. The case study at hand is the supply chain on which we have spent, as you know, no small amount of time the past couple of months, shortages and price spikes, logistical bottlenecks. Well to that end, the Biden administration says it has plan the supply chain disruptions Task force will the thinking goes Increased domestic production of critical inventory, like semiconductors and batteries that was announced today. It is also by the way, an admission that we are not going to be able to make everything we need ourselves. Marketplaces Justin Ho is on the macro desk today. What the Biden administrations really doing here is trying to reduce the economy's dependence on China. They're talking about trying to reduce dependence on other countries for rare Earth That's mainly China. Katie Russell is an economics professor at U. C. Davis. They're talking about trying to safeguard and encourage domestic sources of key pharmaceutical ingredients. Here. We import a lot of those from China. So the idea instead is to rely more on American allies as trading partners, says Rachel Brewster at Duke Law School. When we're discussing semiconductors are major allies will be South Korea, JAPAN, Taiwan When we move on to pharmaceuticals, it's going to be made much more in Europe. But there's a problem with that, says Emily Blanchard at Dartmouth. We have been antagonizing many of the same trading partners for a number of years. The Trump Administration slap tariffs on trade with a lot of these countries, and even now, tariffs on European metals remain in place. I think here we are sensing a very deliberate and intentional policy shift by the Biden administration to say Let's deal with some of these national security concerns with our neighbors, not despite our neighbors, Blanchard says. We don't have the capacity to manufacture. Everything we need in the U. S. Would be a fool's errand, she says to try to go it alone. I'm Justin. How for marketplace? Micro Part of this supply story today comes to us from the National Federation of Independent Business, which released its small Business Optimism index this morning. The group's monthly survey of business owners in retailing construction manufacturing also services Among the highlights. 40% of small business owners plan on raising prices the most since 1981 Marketplaces. Kristin Schwab made some calls Bobby Williams in Columbia, South Carolina, is facing some tough competition not for who can make the best catfish or country fried steak. But who can Lauren workers? Like they say, if you could fog, a mirror, we will hire. Yeah, well, we just need some bodies right now. Williams raised starting wages at his restaurant Lizard's thicket to $10 an hour, up from eight. Meanwhile, prices of everything from pork to plastic goods are soaring. Bacon has doubled food prep gloves quadrupled because manufacturing processing trucking everything is backed up. Every week. There's five or six items that are out of stock. Williams has had to pass the costs on to customers because he simply can't sell more to make more money. Labor and supply shortages are holding business owners down. The big issue is that they aren't able to take advantage of that increasing demand for their good or service. Holly Wade is with the National Federation of Independent Business, which found half of small business owners had unfilled job openings in May, and of those more than 90% say there were few or no qualified applicants. That's jeweler Becky Bush inculcate problem in a chemist Michigan her Goldsmith moved to Hawaii during the pandemic. She needs sales associates to I can train people to sell, but I can't train people to have a personality bringing people with that, you know. Hi, How are you in the it's more of a high She, too has had to raise wages, and that's not her only problem. Her suppliers are raising prices because mines and manufacturers overseas are still dealing with pandemic disruptions. I'm Kristin Schwab for Marketplace on Wall Street today, not a whole lot of enthusiasm either way, really, We'll have the details when we do the numbers. Mm. Bitcoin is trading today in the $32,000 range.

Emily Blanchard Katie Russell Rachel Brewster Bobby Williams Kristin Schwab $32,000 Hawaii Becky Bush Europe Holly Wade five National Federation of Indepen Tuesday Blanchard Today Los Angeles Earth 40% Justin Justin Ho
"rachel brewster" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:16 min | 1 year ago

"rachel brewster" Discussed on WNYC 93.9 FM

"To start things off today. A macro micro thing. Big picture and then granular look inside the gears of this economy. The case study at hand is the supply chain on which we have spent, as you know, no small amount of time the past couple of months, shortages and price spikes, logistical bottlenecks. Well to that end, the Biden administration says it has plan the supply chain disruptions Task force Will the thinking goes increased domestic production of critical inventory, like semiconductors and batteries that was announced today. It is also by the way. An admission that we are not going to be able to make everything we need ourselves. Marketplaces. Justin Ho is on the macro desk today. What the Biden administrations really doing here is trying to reduce the economy's dependence on China. They're talking about trying to reduce dependence on other countries for rare Earth That's mainly China. Katie Rust is an economics professor at U. C. Davis. They're talking about trying to safeguard and encourage domestic sources of key pharmaceutical ingredients. Here. We import a lot of those from China. So the idea instead is to rely more on American allies as trading partners, says Rachel Brewster at Duke Law School. When we're discussing semiconductors are major allies will be South Korea, Japan, Taiwan. When we move on to pharmaceuticals. It's going to be maced much more in Europe. But there's a problem with that, says Emily Blanchard at Dartmouth. We have been antagonizing many of these same trading partners for a number of years. The Trump Administration slap tariffs on trade with a lot of these countries, and even now, tariffs on European medals remain in place. I think here we are sensing a very deliberate and intentional policy shift by the Biden administration to say Let's deal with some of these national security concerns. With our neighbors, not despite our neighbors, Blanchard says. We don't have the capacity to manufacture. Everything we need in the U. S. Would be a fool's errand, she says to try to go it alone. I'm Justin. How for marketplace? Micro Part of this supply story today comes.

"rachel brewster" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

04:33 min | 1 year ago

"rachel brewster" Discussed on Marketplace with Kai Ryssdal

"In los angeles. I'm kai ryssdal. It is tuesday today. The eighth of june. Good as always to have you along everybody. We are going to do a one to to start things off today. A macro micro thing a big picture and then granular look inside the gears of this economy. The case study at hand is the supply chain on which we have spent as. You're no no small amount of time. The past couple of months shortages and price spikes logistical. Bottlenecks well to that end. The biden administration says it has planned the supply chain disruptions task will thinking goes increase domestic production of critical inventory like semiconductors in batteries. That was announced. Today it is also by the way admission that we are not going to be able to make everything we need ourselves. Marketplace's justin hose on the macro desk. Today what the biden administration's really doing here is trying to reduce the economy's dependence on china talking about trying to reduce dependence on other countries for rare earth. That's mainly china. Td russ is an economics. Professor at uc davis. They're talking about trying to safeguard and encourage domestic sources of key pharmaceutical ingredients here. We import those from china. So the idea instead is to rely more on american. Allies is trading partners. Says rachel brewster at duke law school when we're discussing semiconductors. Our major allies will be out three. Ed japan i wan when we move onto pharmaceuticals. It's going to be maced much more in europe. But there's a problem with that says emily blanchard at dartmouth. We have been entangled in many of the same trading partners for a number of years the trump administration slap tariffs on trade with a lot of these countries and even now tariffs on european metals. Remain in place. I think here we are sensing a very deliberate and intentional policy shift by the biden administration to say let's deal with some of these national security concerns with our neighbors not despite our neighbors blanchard says we don't have the capacity to manufacture everything we need in the us. It'd be a fool's errand. She says to try to go it alone. I'm justin how for marketplace. The mark part of this supplies story today comes to us from the national federation of independent business which released its small business optimism index this morning. The group's monthly survey of business owners in retailing construction manufacturing also services among the highlights forty percent of small business owners plan on raising prices the most since nineteen eighty-one marketplace's kristen schwab made some calls bobbi williams in columbia south carolina is facing some tough competition not for who can make the best catfish or country fried steak. But who can lauren workers like. Say if you could bog mirror we will hire well. We just need some bodies right now. Williams raised starting wages at his restaurant. Lizard's thicket to ten dollars an hour up from eight. Meanwhile prices of everything from pork to plastic goods are soaring. Bacon has doubled food. Prep gloves quadrupled because manufacturing processing trucking. Everything is backed up every week. There's five or six items that are out of stock williams's had to pass the cost onto customers because he simply can't sell more to make more money labor and supply shortages are holding business owners down. The big issue is that they aren't able to take advantage of that increasing demand for their good or service. Hollywood is with the national federation of independent business which found half of small business owners had unfilled job. Openings in may and of those more than ninety percent say there were few or no qualified applicants. that's jeweler becky. Both problem in oak michigan her goldsmith moved to hawaii during the pandemic. she needs sales associates. Too i can train people to sound. But i can't train people to have a personality binding people with that you know. Hey how are you in the. It's more high. She too has had to raise wages. And that's not her only problem. Her suppliers are raising prices because minds and manufacturers overseas are still dealing with pandemic disruptions. I'm kristen schwab for marketplace on wall street today. Not a whole lot of enthusiasm. Either way really..

five hawaii Today rachel brewster forty percent europe emily blanchard los angeles uc davis today Williams bobbi williams williams kai ryssdal six items tuesday today duke law school more than ninety percent eighth of june columbia south carolina
"rachel brewster" Discussed on KQED Radio

KQED Radio

05:03 min | 2 years ago

"rachel brewster" Discussed on KQED Radio

"June it is always to have you along everybody how long has it been do you suppose since we lead this program with trade awhile certainly after a long long run of all trade all the time but we return to it today by noting that the US trade representative Robert Lighthizer my name spent the better part of this Wednesday on Capitol Hill let's talk about of course chief among them Lighthizer's and by extension the trump administration's overall dissatisfaction with the World Trade Organization and what its rules are about of course tariffs marketplace is a British shores on the trade desk today every country in the WTO has a maximum average tariff that they can stick to their trading partners and boy are they different the average terror finding some results it is thirty one percent whereas for the United States the averages about three and a half Timothy T. how is professor of economics at the university of Minnesota now it should be said that just because countries can charge a maximum tariff does not mean they do Brazil's average real terror freight is thirteen percent way below its maximum or anyone but that still does sound crazy on the face of it that the rules let some countries tax the stuffing out of their trading partners in addition you know I mean states have signed up to this Rachel Brewster is professor of law at Duke over the decades as country's first signed up for the WTO or agreements even before the WTO existed they were coming from very different places some were much more closed economies with crazy high terrace and others less so and every entry to the WTO involved in negotiation to bring down those tears so when we talk about kind of having ten percent this is why China she didn't want the members of the WTO accepted including United States now of course things change China's economy has grown more than nine hundred percent since two thousand one for example so it's reasonable for countries to disagree over current terror of imbalances the question is what do you do about it Chad brown is with the Peterson institute reciprocity I'll lower my cashier but in exchange you have to lower your terrorists there that's one option the other option is threats the trump administration's approach thus far had basically banned you'll lower your terrace and if you don't then we're going to raise our terrorists against you the results so far have been a mixed back in New York I'm sorry Bennett short for marketplace we have been talking a lot on the program the past couple of weeks about how racism and discrimination is baked into this economy and a lot of people are working to change that and that gets us to the tech industry and its long and well documented history of not recruiting and training black people marketplace's Kimberly Adams reports now on how the very language of technology plays into that and what some coders are doing about some of the basic terminology of hardware and software is getting broader scrutiny terms like blacklist for malicious websites and white list for safe emails Gabriel chopper was senior software engineer at linkedin points to even more troublesome terms like the software side of things were like master and slave could be referring to a machine that is the main machine or slavery should be like the thing that the master controls karla Monterrosa a C. E. O. of code twenty forty which works to improve diversity in the tech industry she says the first time she came across a master and slave in coding I had a physical reaction to it several tech CEOs including at networking company Cisco say they are working on updates part of efforts to make their companies more inclusive Monterrosa says black in Latin next people leave tech at three times the rate of white men and a part of that is the environment that gets created and who is required to experience discomfort during the workplace Alexis moody a software engineer and data intelligence firm morning consult is working on changing the language they're seeing those terms it just a little cut all the time she says it does take time to update the code but it's such a minuscule change that pays dividends for inclusion and diversity down the road in this idea changing the language of tech has been picking up steam among the big players both linked in and get hub owned by Microsoft are making changes and Google has asked developers to use racially neutral language as well in Washington I'm Kimberly Adams for market place kinda mixed on Wall Street today not a whole lot of enthusiasm either way we'll have the details when we do the numbers over in the UK much as here quarantine.

"rachel brewster" Discussed on 90.3 KAZU

90.3 KAZU

05:00 min | 2 years ago

"rachel brewster" Discussed on 90.3 KAZU

"To have you along everybody how long has it been do you suppose since we lead this program with trade awhile certainly after a long long run of all trade all the time but we return to it today by noting that the US trade representative Robert Lighthizer my name spent the better part of this Wednesday on Capitol Hill let's talk about of course chief among them Lighthizer's and by extension the trump administration's overall dissatisfaction with the World Trade Organization and what its rules are about of course tariffs marketplace is a British shores on the trade desk today every country in the WTO has a maximum average tariff that they can stick to their trading partners and boy are they different the average terror finding some growers sell it is thirty one percent whereas for the United States the averages about three and a half Timothy key how is professor of economics at the university of Minnesota now it should be said that just because countries can charge a maximum tariff does not mean they do Brazil's average real terror freight is thirteen percent way below its maximum RT one but that still does sound crazy on the face of it that the rules let some countries tax the stuffing out of their trading partners in addition you know I mean states have signed up to this Rachel Brewster is professor of law at Duke over the decades as country's first signed up for the WTO or agreements even before the WTO existed they were coming from very different places some were much more closed economies with crazy high tariffs and others less so and every entry to the WTO involved in negotiation to bring down those terrorists so when we talk about China having ten percent down terrorists this is what China negotiated what the members of the WTO accepted including the United States now of course things change China's economy has grown more than nine hundred percent since two thousand one for example so it's reasonable for countries to disagree over current terror of imbalances the question is what do you do about it Chad brown is with the Peterson institute reciprocity I'll lower my cashier but in exchange you have to lower your characters there that's one option the other option is threats the trump administration's approach thus far has basically banned you'll lower your terrace and if you don't then we're going to raise our terrorists against you the results so far have been a mixed back in New York I'm sorry Bennett short for marketplace we have been talking a lot on the program the past couple of weeks about how racism and discrimination is baked into this economy and a lot of people are working to change that and that gets us to the tech industry and its long and well documented history of not recruiting and training black people marketplace's Kimberly Adams reports now on how the very language of technology plays into that and what some coders or known about some of the basic terminology of hardware and software is getting broader scrutiny terms like blacklist for malicious websites and white list for safe emails Gabriel chopper a senior software engineer at linkedin points to even more troublesome terms like the software side of things were like master and slave could be referring to a machine that he is the main machine or slave which would be like the thing that the master controls karla Monterrosa a C. E. O. of code twenty forty which works to improve diversity in the tech industry she says the first time she came across a master and slave in coding I had a physical reaction to it several tech CEOs including at networking company Cisco say they are working on updates part of efforts to make their companies more inclusive Monterrosa says black and Latin next people leave tech at three times the rate of white men and a part of that is the environment that gets created and who is required to experience discomfort during the workplace Alexis moody a software engineer and data intelligence firm morning consult is working on changing the language they're seeing those terms it just a little cut all the time she says it does take time to update the code but it's such a minuscule change that pays dividends for inclusion and diversity down the road in this idea changing the language of tech has been picking up steam among the big players both linked in and get hub owned by Microsoft are making changes and Google has asked developers to use racially neutral language as well in Washington I'm Kimberly Adams for market place kinda mixed on Wall Street today not a whole lot of enthusiasm either way we'll have the details when we do the numbers over in the UK much as.

"rachel brewster" Discussed on KQED Radio

KQED Radio

05:05 min | 2 years ago

"rachel brewster" Discussed on KQED Radio

"The seventeenth day of June it is always to have you along everybody how long has it been do you suppose since we lead this program with trade awhile certainly after a long long run of all trade all the time but we return to it today by noting that the US trade representative Robert Lighthizer my name spent the better part of this Wednesday on Capitol Hill let's talk about of course chief among them Lighthizer's and by extension the trump administration's overall dissatisfaction with the World Trade Organization and what its rules are about of course tariffs marketplace is a British yours on the trade desk today every country in the WTO has a maximum average tariff that they can stick to their trading partners and boy are they different the average terror finding from Brazil is thirty one percent whereas for the United States the average is about three and a half Timothy T. how is professor of economics at the university of Minnesota now it should be said that just because countries can charge a maximum sheriff does not mean they do Brazil's average real terror freight is thirteen percent way below its maximum or anyone but that still does sound crazy on the face of it that the rules let some countries tax the stuffing out of their trading partners you know I mean states have signed up to this Rachel Brewster is professor of law at Duke over the decades as country's first signed up for the WTO or agreements even before the WTO existed they were coming from very different places some were much more closed economies with crazy high tariffs and others less so and every entry to the WTO involved in negotiation to bring down those terrorists so when we talk about kind of having ten percent down here for you this is why China she needed what the members of the WTO accepted including the United States now of course things change China's economy has grown more than nine hundred percent since two thousand one for example so it's reasonable for countries to disagree over current terror of imbalances the question is what do you do about it Chad brown is with the Peterson institute reciprocity I'll lower my cashier but in exchange you have to lower your character there that's one option the other option is threats the trump administration's approach thus far had basically banned you'll lower your terrace and if you don't then we're going to raise our terrorists against you the results so far have been a mixed back in New York I'm sorry Bennett short for marketplace we have been talking a lot on the program the past couple of weeks about how racism and discrimination is baked into this economy and a lot of people are working to change that and that gets us to the tech industry and its long and well documented history of not recruiting and training black people marketplace's Kimberly Adams reports now on how the very language of technology plays into that and what some coders are doing about some of the basic terminology of hardware and software is getting broader scrutiny terms like blacklist for malicious websites and white list for safe emails Gabriel chopper a senior software engineer at linkedin points to even more troublesome terms like the software side of things were like master and slave could be referring to a machine that is the main machine or slave which would be like the thing that the master controls karla Monterrosa a C. E. O. of code twenty forty which works to improve diversity in the tech industry she says the first time she came across a master and slave in coding I had a physical reaction to it several tech CEOs including at networking company Cisco say they are working on updates part of efforts to make their companies more inclusive Monterrosa says black and Latin next people leave tech at three times the rate of white men and a part of that is the environment that gets created and who is required to experience discomfort during the workplace Alexis moody a software engineer and data intelligence firm morning consult is working on changing the language they're seeing those terms it's just a little cut all the time she says it does take time to update the code but it's such a minuscule change that pays dividends for inclusion and diversity down the road in this idea changing the language of tech has been picking up steam among the big players both linked in and get hub owned by Microsoft are making changes and Google has asked developers to use racially neutral language as well in Washington I'm Kimberly Adams for market place kinda mixed on Wall Street today not a whole lot of enthusiasm either way we'll have the details when we do the numbers over in the UK much as here.

"rachel brewster" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

05:53 min | 2 years ago

"rachel brewster" Discussed on WNYC 93.9 FM

"Is always to have you along everybody how long has it been do you suppose since we lead this program with trade awhile certainly after a long long run of all trade all the time but we return to it today by noting that the US trade representative Robert Lighthizer my name spent the better part of this Wednesday on Capitol Hill let's talk about of course chief among them Lighthizer's and by extension the trump administration's overall dissatisfaction with the World Trade Organization and what its rules are about of course tariffs marketplaces everybody shores on the trade desk today every country in the WTO has a maximum average tariff that they can stick to their trading partners and boy are they different the average terror finding some Brazil is thirty one percent whereas for the United States the average is about three and a half Timothy key how is professor of economics at the university of Minnesota now it should be said that just because countries can charge a maximum tariff does not mean they do Brazil's average real terror freight is thirteen percent way below its maximum anyone but that still does sound crazy on the face of it that the rules let some countries tax the stuffing out of their trading partners you know I mean states have signed up to this Rachel Brewster is professor of law at Duke over the decades as country's first signed up for the WTO or agreements even before the WTO existed they were coming from very different places some were much more closed economies with crazy high tariffs and others less so and every entry to the WTO involved in negotiation to bring down those tears so when we talk about China having ten percent down here for you this is what China negotiated what the members of the WTO accepted including the United States now of course things change China's economy has grown more than nine hundred percent since two thousand one for example so it's reasonable for countries to disagree over current tariff and balances the question is what do you do about it Chad brown is with the Peterson institute reciprocity I'll lower my character here but in exchange you have to lower your character there that's one option the other option the threats the trump administration's approach thus far had basically banned you'll lower your terrace and if you don't then we're going to raise our terrorists against you the results so far have been a mixed back in New York I'm sorry Bennett short for marketplace we have been talking a lot on the program the past couple of weeks about how racism and discrimination is baked into this economy and a lot of people are working to change that and that gets us to the tech industry and its long and well documented history of not recruiting and training black people marketplace's Kimberly Adams reports now on how the very language of technology plays into that and what some coders are doing about some of the basic terminology of hardware and software is getting broader scrutiny terms like blacklist for malicious websites and white list for safe emails Gabriel chopper a senior software engineer at linkedin points to even more troublesome terms like the software side of things were like master and slave could be referring to a machine that is the the main machine or slave which would be like the thing that the master controls karla Monterrosa a C. E. O. of code twenty forty which works to improve diversity in the tech industry she says the first time she came across master and slave in coding I had a physical reaction to it several tech CEOs including at networking company Cisco say they are working on updates part of efforts to make their companies more inclusive Monterrosa says black in Latin next people leave tech at three times the rate of white men and a part of that is the environment that gets created and who is required to experience discomfort during the workplace Alexis moody a software engineer and data intelligence firm morning consult is working on changing the language they're seeing those terms it just a little cut all the time she says it does take time to update the code but it's such a minuscule change that pays dividends for inclusion and diversity down the road in this idea changing the language of tech has been picking up steam among the big players both linked in and get hub owned by Microsoft are making changes and Google has asked developers to use racially neutral language as well in Washington I'm Kimberly Adams for market place kinda mixed on Wall Street today not a whole lot of enthusiasm either way we'll have the details when we do the numbers over in the U. K. much as here quarantine regulations are being relaxed but the economic after effects of the pandemic or still piling on much as here actually most particularly over there though in the labor market something that the Brits are unaccustomed to from London marketplace's Stephen beard has now thirty two year old and a Timberlake worked as an administrator and a small construction firm Hey was modest what she says the job was perfect the manager was lovely and the the operational directive was lovely and it was a home from high you know it was my first behind the ref lasted five years a few weeks into fellow and I received a letter just two sentences long telling her that she'd been laid off I'm just seeds you know when you give five years of your life and your your passionate about what you do and the clients and customers to have that terminated in.

"rachel brewster" Discussed on 90.3 KAZU

90.3 KAZU

04:10 min | 3 years ago

"rachel brewster" Discussed on 90.3 KAZU

"This is market place I'm car result global trade is complicated we're just gonna stipulate that competing interests who finds a market for what and where and then sells it to whom at what price it gets messy in a hurry that long story made very short is what got us the World Trade Organization the generally recognized arbiter of what's fair in world trade until December the tenth that is after next Tuesday one of the most critical parts of the WTO is gonna stop working the appellate body it's called you can think of it as a Supreme Court of trade it's effectively going to be no more the trump administration has blocked appointment of any new judges to the appellate body in yes the United States in any other member do have veto power so after the tenth when two judges terms expire there won't be enough of them left to keep it running market place's be better sure explains why all of this matters the US is basically about to starve the world trade organization's highest body to death it's a crisis not only of dispute settlement but it is effectively an existential crisis for the WTO itself Jeff shot is a senior fellow at the Peterson institute for international economics the appellate body is the highest trade court on the planet it's where cases from lower down in the WTO are appealed once it is out of the picture there will be no final say when one country suse another cases can be kept in legal limbo frozen in time that will have a corrosive effect on the I'd WTO as an institution without a court to settle things countries who don't like lower court rulings will just end up fighting it out through trade wars are bare knuckle negotiation and shot says not only will the WTO stop being a place for countries to settle disputes it won't really make sense for countries to go to the WTO for other things like negotiating new agreements on how to deal with modern issues like digital trader labor rights Rachel Brewster is a law professor at Duke so basically really undermines the idea in the WTO that it is a rule of law system because no longer will they'll be a way to determine what the law is and how it should be applied to a certain case at least not in a binding way so why is the trump administration doing this on one level the U. S. is mad over administrative issues it takes too long for cases to be decided certain procedures on always followed that the WTO but ultimately it comes down to sovereignty Jennifer Hillman is a senior fellow at the council on foreign relations and used to serve on the WTO appellate body the United States is basic complaint is that the WTO appellate body is not supposed to be able to take away rights that the United States had when the WTO agreements were put together in nineteen ninety five the U. S. loses about half the cases it's involved in in some of those cases according to the U. S. the appellate body infringed on rights the U. S. as it never agreed to give up in particular the WTO has at times tried to limit how the U. S. punishes countries it accuses of dumping cheap products into its markets a lot of the rest of the world looks on this and thinks well it's just the United States having sour grapes previous administrations had similar objections and some allies have expressed sympathy with some US procedural concerns but none have taken it as far as the trump administration in terms of crippling the WTO is ability to function and there's a reason for that says Homan there's no question that some of this is driven by the fact that I think the trump administration believes that the United States is better off under a power base system that is to say the US is the largest consumer market in the world it's better off the rational does using its might to get what it wants rather than being subject to an international institution basically to go back to the world before the WTO existed that idea is a mistake says Jeffrey shot at the Peterson institute that system failed disputes that involve big powers like the United States and the European Union couldn't be resolved the administration has already started to conduct some trade policy outside of the WTO system the trade war with China for example according to the tax foundation the OECD and the I MF that's dragged down economic growth estimates for the US China and.

"rachel brewster" Discussed on KQED Radio

KQED Radio

04:28 min | 3 years ago

"rachel brewster" Discussed on KQED Radio

"The framers of the constitution chose the term as a reason to impeach a president is coming up right after the newscast you're listening to KQED public radio this is market place I'm car resolve global trade is complicated we're just gonna stipulate that competing interests who finds a market for what and where and then sells it to whom at what price it gets messy in a hurry that long story may very short is what got us the World Trade Organization the generally recognized arbiter of what's fair in world trade until December the tenth that is after next Tuesday one of the most critical parts of the WTO is going to stop working the appellate body it's called you can think of it as a Supreme Court of trade it's effectively going to be no more the trump administration has blocked appointment of any new judges to the appellate body in yes the United States in any other member do have veto power so after the tenth when two judges terms expire there won't be enough of them left to keep it running market place's replenish your explains why all of this matters the US is basically about to starve the world trade organization's highest body to death it's a crisis not only of dispute settlement but it is effectively an existential crisis for the WTO itself Jeff shot is a senior fellow at the Peterson institute for international economics the appellate body is the highest trade court on the planet it's where cases from lower down in the WTO are appealed once it is out of the picture there will be no final say when one country suse another cases can be kept in legal limbo frozen in time that will have a corrosive effect on the I'd WTO as an institution without a court to settle things countries who don't like lower court rulings will just end up fighting it out through trade wars are bare knuckle negotiation and shot says not only will the WTO stop being a place for countries to settle disputes it won't really make sense for countries to go to the WTO for other things like negotiating new agreements on how to deal with modern issues like digital trader labor rights Rachel Brewster is a law professor at Duke so basically really on reminds the idea in the WTO that it is a rule of law system are because no longer will they'll be a way to determine what the law is and how it should be applied to a certain case at least not in a blinding way so why is the trump administration doing this on one level the U. S. is mad over administrative issues it takes too long for cases to be decided certain procedures on always followed that the WTO but ultimately it comes down to sovereignty Jennifer Hillman is a senior fellow at the council on foreign relations and used to serve on the WTO appellate body the United States is basic complaint is that the WTO appellate body is not supposed to be able to take away rights that the United States had when the WTO agreements were put together in nineteen ninety five the U. S. loses about half the cases it's involved in in some of those cases according to the U. S. the appellate body infringed on rights the US says it never agreed to give up in particular the WTO has at times tried to limit how the U. S. punishes countries it accuses of dumping cheap products into its markets a lot of the rest of the world looks on this and thinks well it's just the United States having sour grapes previous administrations about similar objections and some allies have expressed sympathy with some U. S. procedural concerns but none have taken it as far as the trump administration in terms of crippling the WTO is ability to function and there's a reason for that says Homan there's no question that some of this is driven by the fact that I think the trump administration believes that the United States is better off under a power base system that is to say the US is the largest consumer market in the world it's better off the rational goes using its might to get what it wants rather than being subject to an international institution basically to go back to the world before the WTO existed that idea is a mistake says Jeffrey shot at the Peterson institute that system failed disputes that involve big powers like the United States and the European Union couldn't be resolved the administration has already started to conduct some trade policy outside of the WTO system the trade war with China for example according to the tax foundation the OECD and the I MF that's dragged down economic growth estimates for the US China and the entire.

president
"rachel brewster" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:28 min | 3 years ago

"rachel brewster" Discussed on WNYC 93.9 FM

"WNYC stay with us for all things considered that continues at seven o'clock thirty nine degrees right now it's going to be partly cloudy overnight tonight dropping down to a low of twenty nine degrees tomorrow back up to a high of forty five this is market place I'm car result global trade is complicated we're just gonna stipulate that competing interests who finds a market for what and where and then sells it to whom at what price it gets messy in a hurry that long story made very short is what got us the World Trade Organization the generally recognized arbiter of what's fair in world trade until December the tenth that is after next Tuesday one of the most critical parts of the WTO is gonna stop working the appellate body it's called you can think of it as a Supreme Court of trade it's effectively going to be no more the trump administration has blocked appointment of any new judges to the appellate body in yes the United States in any other member do have veto power to after the tenth when two judges terms expire there won't be enough of them left to keep it running market place's replenish your explains why all of this matters the US is basically about to starve the world trade organization's highest body to death it's a crisis not only of dispute settlement but it is effectively an existential crisis for the WTO itself Jeff shot is a senior fellow at the Peterson institute for international economics the appellate body is the highest trade court on the planet it's where cases from lower down in the WTO are appealed once it is out of the picture there will be no final say when one country suse another cases can be kept in legal limbo frozen in time that will have a corrosive effect on the I'd WTO as an institution without a court to settle things countries who don't like lower court rulings will just end up fighting it out through trade wars are bare knuckled negotiation and shot says not only will the WTO stop being a place for countries to settle disputes it won't really make sense for countries to go to the WTO for other things like negotiating new agreements on how to deal with modern issues like digital trader labor rights Rachel Brewster is a law professor at Duke so basically really under my once the idea in the WTO that it is a rule of law system because no longer will they'll be a way to determine what the law is and how it should be applied to a certain case at least not in a blinding way so why is the trump administration doing this on one level the U. S. is mad over administrative issues it takes too long for cases to be decided certain procedures on always followed that the WTO but ultimately it comes down to sovereignty Jennifer Hillman is a senior fellow at the council on foreign relations and used to serve on the WTO appellate body the United States is basic complaint is that the WTO appellate body is not supposed to be able to take away rights that the United States had when the WTO agreements were put together in nineteen ninety five the US loses about half the cases it's involved in in some of those cases according to the U. S. the appellate body infringed on rights the U. S. as it never agreed to give up in particular the WTO has at times tried to limit how the U. S. punishes countries it accuses of dumping cheap products into its markets a lot of the rest of the world looks on this and thinks well it's just the United States having sour grapes previous administrations had similar objections and some allies have expressed sympathy with some US procedural concerns but none have taken it as far as the trump administration in terms of crippling the WTO is ability to function and there's a reason for that says Homan there's no question that some of this is driven by the fact that I think the trump administration believes that the United States is better off under a power base system that is to say the US is the largest consumer market in the world it's better off the rational does using its might to get what it wants rather than being subject to an international institution basically to go back to the world before the WTO existed that idea is a mistake says Jeffrey shot at the Peterson institute that system failed disputes that involve big powers like the United States and the European Union couldn't be resolved the administration has already started to conduct some trade policy outside of the WTO system the trade war with China for example according to the tax foundation the OECD and the I MF that's drag down economic growth estimates for the US China and the entire global.

thirty nine degrees twenty nine degrees
"rachel brewster" Discussed on KCRW

KCRW

04:16 min | 3 years ago

"rachel brewster" Discussed on KCRW

"The Skirball visit Skirball dot orgy this is market place I'm car result global trade is complicated we're just gonna stipulate that competing interests who finds a market for what and where and then sells it to whom at what price it gets messy in a hurry that long story may very short is what got us the World Trade Organization the generally recognized arbiter of what's fair in world trade until December the tenth that is after next Tuesday one of the most critical parts of the WTO is gonna stop working the appellate body it's called you can think of it as a Supreme Court of trade it's effectively going to be no more the trump administration has blocked appointment of any new judges to the appellate body in yes the United States in any other member do have veto power after the tenth when two judges terms expire there won't be enough of them left to keep it running market place's be better sure explains why all of this matters the US is basically about to starve the world trade organization's highest body to death it's a crisis not only of dispute settlement but it is effectively an existential crisis for the WTO itself Jeff shot is a senior fellow at the Peterson institute for international economics the appellate body is the highest trade court on the planet it's where cases from lower down in the WTO are appealed once it is out of the picture there will be no final say when one country suse another cases can be kept in legal limbo frozen in time that will have a corrosive effect on the I'd WTO as an institution without a court to settle things countries who don't like lower court rulings will just end up fighting it out through trade wars are bare knuckled negotiation and shot says not only will the WTO stop being a place for countries to settle disputes it won't really make sense for countries to go to the WTO for other things like negotiating new agreements on how to deal with modern issues like digital trader labor rights Rachel Brewster is a law professor at Duke so basically undermines the idea in the WTO that it is a rule of law system because no longer will they'll be a way to determine what the law is and how it should be applied to a certain case at least not in a blinding way so why is the trump administration doing this on one level the U. S. is mad over administrative issues it takes too long for cases to be decided certain procedures on always followed that the WTO but ultimately it comes down to sovereignty Jennifer Hillman is a senior fellow at the council on foreign relations and used to serve on the WTO appellate body the United States is basic complaint is that the WTO appellate body is not supposed to be able to take away rights that the United States had when the WTO agreements were put together in nineteen ninety five the U. S. loses about half the cases it's involved in in some of those cases according to the U. S. the appellate body infringed on rights the U. S. as it never agreed to give up in particular the WTO has at times tried to limit how the U. S. punishes countries it accuses of dumping cheap products into its markets a lot of the rest of the world looks on this and thinks well it's just the United States having sour grapes previous administrations had similar objections and some allies have expressed sympathy with some US procedural concerns but none have taken it as far as the trump administration in terms of crippling the WTO is ability to function and there's a reason for that says helmet there's no question that some of this is driven by the fact that I think the trump administration believes that the United States is better off under a power base system that is to say the US is the largest consumer market in the world it's better off the rational goes using its might to get what it wants rather than being subject to an international institution basically to go back to the world before the WTO existed that idea is a mistake says Jeffrey shot at the Peterson institute that system failed disputes that involve big powers like the United States and the European Union couldn't be resolved the administration has already started to conduct some trade policy outside of the WTO system the trade war with China for example according to the tax foundation the OECD and the I MF that's dragged down economic growth estimates for the US China and the entire global.