Midnight Mike
2008-05-08, 12:49 PM
May 7 2008
Peter Mandelson, European trade commissioner, has said the protectionist stances taken by the US presidential candidates risk taking the world trading system back by decades.
In an interview with the BBC’s Hardtalk programme to be broadcast on Thursday, Mr Mandelson said: “It is irresponsible to be pretending to people you can erect new protection, new tariff barriers around your economy in this 21st century global age and still succeed in sustaining peoples’ living standards and jobs. It is a mirage and they know it.”
Mr Mandelson declined to say which candidates he had in mind, but the context made it clear he was referring to Democrats Hillary Clinton and Barack Obama “You match the rhetoric. I am not going to do that.”
Mrs Clinton and Mr Obama’s statements on trade have become increasingly specific. Both senators have supported a bill that would allow the US to impose trade tariffs on China to compensate for what it says is the undervaluation of the Chinese currency, a move which would almost certainly be a violation of World Trade Organisation rules.
http://www.ft.com/cms/s/0/4c70f7ba-1c63 ... ck_check=1 (http://www.ft.com/cms/s/0/4c70f7ba-1c63-11dd-8bfc-000077b07658.html?nclick_check=1)
Peter Mandelson, European trade commissioner, has said the protectionist stances taken by the US presidential candidates risk taking the world trading system back by decades.
In an interview with the BBC’s Hardtalk programme to be broadcast on Thursday, Mr Mandelson said: “It is irresponsible to be pretending to people you can erect new protection, new tariff barriers around your economy in this 21st century global age and still succeed in sustaining peoples’ living standards and jobs. It is a mirage and they know it.”
Mr Mandelson declined to say which candidates he had in mind, but the context made it clear he was referring to Democrats Hillary Clinton and Barack Obama “You match the rhetoric. I am not going to do that.”
Mrs Clinton and Mr Obama’s statements on trade have become increasingly specific. Both senators have supported a bill that would allow the US to impose trade tariffs on China to compensate for what it says is the undervaluation of the Chinese currency, a move which would almost certainly be a violation of World Trade Organisation rules.
http://www.ft.com/cms/s/0/4c70f7ba-1c63 ... ck_check=1 (http://www.ft.com/cms/s/0/4c70f7ba-1c63-11dd-8bfc-000077b07658.html?nclick_check=1)