Today, Korus and Nafta have been replaced by updated agreements(one not yet ratified) that look much like the originals. South Korea accepted quotas on steel. Mexico and Canada agreed to higher wages, North American content requirements and quotas for autos. Furthermore, the article points out Douglas Irwin, an economist and trade historian at Dartmouth College, calls these results the “status quo with Trumpian tweaks: a little more managed trade sprinkled about for favored industries. It’s not good, but it’s not the destruction of the system.” Mr. Trump’s actions so far affect only 12% of U.S. imports, according to Chad Bown of the Peterson Institute for International Economics. In 1984, 21% of imports were covered by similar restraints, many imposed by Mr. Reagan, such as on cars, steel, motorcycles and clothing. Protectionist instincts go so far in the US, there are strong lobby groups for both protectionist and freetrade in the US.The second reflects a emerging rivalry between the US and China. Undo some of the integration that followed China accession to the WTO. Two questions 1) How far is the US willing to decouple with China 2) Can it persuade allies to join.
The second is going to be difficult because China's economic ties are greater than they were between the Soviets, and China isn't waging an ideological struggle. Trump lacks Reagan commitment to alliance and free trade. The status quo with China is crumbling Dan Sullivan, a Republican senator from Alaska, personifies these broader forces reshaping the U.S. approach to the world. When Mr. Xi visited the U.S. in 2015, Mr. Sullivan urged his colleagues to pay more attention to China’s rise. On the Senate floor, he quoted the political scientist Graham Allison: “War between the U.S. and China is more likely than recognized at the moment.” Last spring, Mr. Sullivan went to China and met officials including Vice President Wang Qishan. They seemed to think tensions with the U.S. will fade after Mr. Trump leaves the scene, Mr. Sullivan recalled. “I just said, ‘You are completely misreading this.’” The mistrust, he told them, is bipartisan, and will outlast Mr. Trump. both Bush II and Obama tried to change dialogue and engagement, but by the end of his term, Obama was questioning the approach. Trump has declared engagement. “We don’t like it when our allies steal our ideas either, but it’s a much less dangerous situation,” said Derek Scissors, a China expert at the American Enterprise Institute whose views align with the administration’s more hawkish officials. “We’re not worried about the war-fighting capability of Japan and Korea because they’re our friends.”The article also points out unlike George Kennan in 1946 who made a case for containing the Soviet Union, the US hasn't explicitly made a case for containing the Soviets, Trump's administration hasn't, because as the the article explains its divided Michael Pillsbury a Hudson Institute scholar close to the Trump team, see 3 scenarios
I guess my prescription, really, is to move back to more of a negotiating kind of a settlement. Return to WTO and what it really was meant to be. Something where you have somebody make a decision but have it not be binding.The US is using financial and legal instruments developed during the Cold War like its extradition treaties (with Canada and Europe), and Section 301. Here is a very good recent article about enforcement commitment that China will make.‘Painful’ enforcement ahead for China if trade war deal is reached with US insisting on unilateral terms
As part of a deal, China is pledging to help level the playing field, including speeding up the timetable for removing foreign-ownership limitations on car ventures and reducing tariffs on imported vehicles to below the current auto tariff of 15%. Beijing would also step up purchases of U.S. goods—a tactic designed to appeal to President Trump, who campaigned on closing the bilateral trade deficit with China. One of the sweeteners would be an $18 billion natural-gas purchase from Cheniere Energy Inc., people familiar with the transaction said.The second part will involve the following.
This question is all the more puzzling because the scope and depth of demands placed on entrants into the formal international trading system have increased substantially since the formal conclusion of the Uruguay Round of trade negotiations in 1994, which expanded the agenda considerably by covering many services, agriculture, intellectual property, and certain aspects of foreign direct investment. Since 1994, the international community has added agreements covering information technology, basic telecommunications services, and financial services. WTO membership now entails liberalization of a much broader range of domestic economic activity, including areas that traditionally have been regarded by most countries as among the most sensitive, than was required of countries entering the WTO’s predecessor organization the GATT.What are the WTO commitments Barshefsky goes on about? When countries join the WTO, particularly those countries that weren't members of GATT and joined after 1997, they have to work toward fulfilling certain commitments. There are 4 key documents when countries make an accession to WTO membership, the working party report, the accession protocol paper, the goods schedule and service schedule.
The terms of China’s protocol of accession to the World Trade Organization reflect the developments just described and more. China’s market access commitments are much more far-reaching than those that governed the accession of countries only a decade ago. And, as a condition for membership, China was required to make protocol commitments that substantially exceed those made by any other member of the World Trade Organization, including those that have joined since 1995. The broader and deeper commitments China has made inevitably will entail substantial short-term economic costs.
According to the survey, 39 percent of the country views China’s growing power as a “critical threat” to Americans. That ranked it only eighth among 12 potential threats listed and placed China well behind the perceived threats from international terrorism (66 percent), North Korea’s nuclear program (59 percent) and Iran’s nuclear program (52 percent). It’s also considerably lower than when the same question was asked during the 1990s, when more than half of those polled listed China as a critical threat. That broadly tracks with a recent poll from the Pew Research Center that found concern about U.S.-China economic issues had decreased since 2012.In looking at how US conducts relations foreign policy with China, we should look at it from the three areas of most concern - economic, national security and ideology. Each sphere has their interest groups, and sometimes groups can occupy two spheres at once. Security experts are concerned with some aspects of China's economic actions like IP theft and industrial policy (China 2025), because they are related to security. In these sphere there are your hawks and dove. And each sphere is dominated by certain interest groups. That is why US policy toward China can often appear contradictory. You have Trump want to reduce the trade deficit, but security experts advocating for restrictions on dual use technology who are buttressed by people who want export restrictions on China, as a way of getting market access.
Trade with China has hurt some American workers. And they have expressed their grievances at the ballot box.What is interesting about Paulson's speech is he spend only one sentence about displaced US workers, and a whole paragraph about US business operating in China. While Kissinger writes books about China, how much does he contribute to both Democrats and the Republicans during the election cycle? China is increasingly makING it more difficult for US companies operating and those exporting products to China.
So while many attribute this shift to the Trump Administration, I do not. What we are now seeing will likely endure for some time within the American policy establishment. China is viewed—by a growing consensus—not just as a strategic challenge to the United States but as a country whose rise has come at America’s expense. In this environment, it would be helpful if the US-China relationship had more advocates. That it does not reflects another failure:
In large part because China has been slow to open its economy since it joined the WTO, the American business community has turned from advocate to skeptic and even opponent of past US policies toward China. American business doesn’t want a tariff war but it does want a more aggressive approach from our government. How can it be that those who know China best, work there, do business there, make money there, and have advocated for productive relations in the past, are among those now arguing for more confrontation? The answer lies in the story of stalled competition policy, and the slow pace of opening, over nearly two decades. This has discouraged and fragmented the American business community. And it has reinforced the negative attitudinal shift among our political and expert classes. In short, even though many American businesses continue to prosper in China, a growing number of firms have given up hope that the playing field will ever be level. Some have accepted the Faustian bargain of maximizing today’s earnings per share while operating under restrictions that jeopardize their future competitiveness. But that doesn’t mean they’re happy about it. Nor does it mean they aren’t acutely aware of the risks — or thinking harder than ever before about how to diversify their risks away from, and beyond, China.
|How does your company plan on staying competitive with other local exchanges coming out? Any plans on making an app?||The company was started by Mike and Ryan, crypto-enthusiasts who saw problems in the marketplace when dealing in cryptos. They wanted an exchange that had a strong support team, legal visibility, operated somewhere where you could trust your money and had strong security - so in short they built it! We expect really big things for VoS and do indeed intend to be competitive with other exchanges, and yes, that does include building an app - we're currently exploring options in that field but we feel it crucial to take our time in doing that and put security first.|
|Why is it important for bitcoin companies to donate to charities? Or people to donate with cryptocurrency? Just wanna say thanks for being in the btc community and helping it grow and spread it around. Is there a lot of pressure on you now that you got your MSB? Any pressure from banks or government on how to behave?||As for Charity we just feel its the right thing to do, I've always been a strong supporter of charities in my daily life and I brought that forward to VoS and the team agreed it made sense to gather up some funds for the Canadian Cancer Society given that April is their big fundraising month. On a grander scale I think it's important for cryptocurrencies to play a positive role in the world, let people know what we are all about, there is a lot of negative stigma about cryptos, some people say it's just kids "printing money", but it's a lot harder to say that when you're positively changing the world!|
|There's not any more pressure on us now than there was before - in fact I would say the MSB has taken some of the pressure off. We instead hold ourselves to the same laws and scrutiny as any financial institution would have to, and we feel this is best for our users and this sector as a whole. Getting the MSB let us know we had done everything right so far, and being in a new and evolving industry it's not always too clear if you're taking the right steps. The MSB is a checkmark that says "Hey you guys are as legitimate as you say you are" and we'll continue to hold ourselves to what ever rigorous standards we can (even when we don't need too). As far as external entities like Banks and Government - I think they are happy to see we have our MSB, I think it makes them more comfortable with the field in general and more willing to work with us. We recently met with our Member of Provincial Parliament and are setting up meetings with our Member of Parliament, and our Minister of Finance so they can see our operation here! The MPP certainly loved what we've got going!|
|That was a fast reply. Thanks for the response, you guys always been good with customer service :p . And thats great Mike and Ryan stepped up to be the ones to do it, it's a really much needed addition to the Toronto bitcoin scene.||Oh man if Timmies was a payment I don't think Canada would need cryptocurrencies at all! Timbits everywhere! We love Tim Hortons - we usually start our Monday's with group coffee and donuts! So we are never opposed Timmies if you are dropping by for a visit :P (Compliance disclaimer: Timmies is not a valid payment method, just a staple at all Canadian meetings)|
|We also feel the importance of charities, especially with the nature of the bitcoin community always being a giving one. I hope you guys see good results n help the bitcoin image. We want to come visit you guys sometime, do you accept Tim Hortons as payment? :p.|
|The charity that you are donating to, do they accept btc or will you be converting it to fiat?||We'll be convert it to Fiat.|
|Any plans on an Android app?||We are looking into this, no formal timeline, but we're certainly exploring it!|
|It would be great if the volume would increase, can you comment on what is the strategy for getting more costumers?||We are actually making a big push this spring in regards to our volume, including launching a highly competitive affiliates program that expect will grow our volume a great deal.|
|Any chance on improving the charts? (Or being included in bitcoinwisdom)||We're always happy to take feedback on our charts, let us know what you want to see! As for Bitcoinwisdom, we've reached out to them multiple times, and added all the API support they need - just waiting on them to hopefully add us!|
|It currently takes ~3 days to get funds added to the balance, I presume that is mostly for security and because banks suck, are there plans to reduce this waiting time?||We're looking at adding instant online debit transactions, no formal timeline on that yet but we are sure it will be great for our customers!|
|Glad SonOfAragon asked those questions so I don't end up repeating them and thanks for your reply Adam. However can you give us an idea of when you plan to launch the affiliates program/make the big push? If I sign up for an account, I'd probably want to beat the rush.||We're actively working towards our affiliate program and our intention is to have it sometime this spring!|
|As someone who is completely ignorant of all things internet currency. can you please tell me how a beginner would go about getting into investing? (Lets say I have $10k of disposable income currently, would you suggest investing it all in bitcoin?)||Hey Buildingdreams4,|
|That's a pretty hard question to answer, and so I can't give you an official Vault of Satoshi answer but I can give you a personal opinion. So please note this is my two cents and nothing VoS official.|
|Personally I have some experience in day trading and that's the best way to make money in such markets - however that's the kind of situation where you have to take risks, actively watch the market and only ever trade with what you have to lose (not only to avoid loss but also to make sure you are willing to take the level of risk needed to make strong returns.) I'd highly recommend learning about Forex trading before you dive into this.|
|That being said the Bitcoin community still feels strongly that their currency value will rise, subject to merchant adoption, legal/political landscapes and a number of other factors but I can't really comment on that as it is a real challenge to predict; there is also a great deal of merit to a number of altcoins with unique value - but just make sure you research and make informed decisions. Don't take anyone's advice at face value (mine included) research and invest where you feel comfortable.|
|What does vault think about VOS bitcoin atms? What can we do as customers to help you guys make this site better?||As far as what customers can do - simply share the love! Tell your friends about VoS and always feel free to reach out to is with what you want to see on our site.|
|What about a physical location for vault deposits and verifications?||We are currently examining new infrastructure opportunities that would allow us to accept physical deposits in more locations and we hope to have more information about that soon!|
|How does your reporting with with CRA?||As for the CRA reporting I'm not sure what your exact question is, but as a registered business we report to the CRA in a typical fashion.|
|Is there any way to shorten deposit times? I'm super impressed that I can pay you like a bill directly from my bank account, but I'm bummed about how long it takes. If I send money to my vos account on a Thursday, I may not see those funds until Monday or Tuesday. If the exchange is open for trading on weekends, how about processing deposits as well?||Hey Jay.|
|Also, what is done with the confidential info people upload to become verified? is it deleted? if it's kept on file, is access to it restricted to certain employees?||We're currently working on a system that will allow immediate deposits via online debit! No formal time line yet but that will indeed make things much quicker!|
|Keep up the good work! Thank you.||As for confidential information, if you have ever made a financial transaction on our website then we are required by law to keep a copy of that information. We take this responsibility very seriously, this information is encrypted and stored securely and is most certainly restricted access!|
|That's cool! Awesomesauce! I'm looking forward to it! Do you know if it will be limited like QuickBT (.2 BTC) or if there is some kind of daily limit? Also: when trading doge to btc I swear it took me half an hour to figure exactly how many doge I could buy with my btc including the fee. And I did it all wrong. I still have like .00066 btc left in my account which I guess is forfeit to the ether... Is there any way to put a helpful calculator on that page that figures it out for you???||As for your other question, as Xangelo said, we are working on improving the layout of our coin to coin system to make it less complicated. Being one of the first major exchanges to offer any coin to any coin means there is going to have to be some tweaking while we find out what the marketplace likes! But we're always open to feedback!|
|Would you rather fight a horse-sized duck or a hundred duck sized horses? Please elaborate. Feel free to answer individually.||If there is anything that years of video game playing has taught me it's always pick the bigger monster over a ton of little ones! A hundred duck sized horses could quite quickly surround and nip and kick from all angles. Where as I feel that whilst a horse-sized duck would be absolutely terrifying my odds are better as I can always keep it in front of me (and perhaps distract it with breadcrumbs)|
|Also do you guys have any plans to change the buy/sell mechanic? I find its way too easy to accidentally make a buy order when you meant to make a sell order.||As for the buy/sell mechanic it is something we are actively implementing and expect to launch in a couple weeks! Will make it easier to keep that straight!|
|My question: To be honest I've been using CaVirtex.How* would you say yours is better?||We stand by our service as we are sure they do theirs, but at the end of the day it's about what better suits your needs. At the end of the day competition makes the market better for everybody!|
|Specifically, I would like to know what the nature of their cooperation and level of engagement is. Do they provide VoS with the absolute minimum of services as they would with any other business? Are they accommodative to specific VoS needs and requests related to crypto-currency specific challenges? Are they mutually active in developing services and infrastructure to support VoS/crypto-currencies? Are they taking a leading role in facilitating the necessary changes to support this new industry and growing public demand? Are you provided with a liaison to facilitate a closer working relationship?||That being said when we did work with them they were fantastic, very supportive, and loved our business; the local branch went to some great lengths to help with our unique challenges and we certainly hope we can work with them again in the future.|
|Thanks for the reply! I feared as much having read about Cointrader in Vancouver being cut off by BMO in February. If I can follow up, how are your banking needs currently being met?||We're currently actually streamlining our financials and will have more announcements on this soon. New partnerships are opening up doors to new payment methods and currencies and we're excited about that.|
|Are you planning to offer other services with altcoins? or you want to keep it solely as an exchange?||We are exploring services beyond just exchange services - but we have no formal timelines on them yet! We'll be sure to let folks know!|
|Are you operating a full or fractional reserve and how much liquidity do you have available if tomorrow all clients wanted to withdraw all their funds?||We are a full reserve exchange. We do have our holdings divided between our hot and cold wallets and top our hot wallet as it gets low. But we do have all the BTC we claim to and are actively working on a Proof of Solvency tool to verify this to users.|
|Which altcoins do you see as strongest going forward?||Anything that has a unique value proposition and a strong community has the ability to go places but it's pretty hard to gauge these in advanced. We expect great things from the coins we've added/intend to add over the next month, which have all been announced.|
|Good to know Yubikey's available, thanks xangelo. Maybe one of your execs can chime in on the qualifications needed to join your verification team but that has me wondering...if a customer opens an account with VoS, can they still be hired, then close their account of course, or is that an automatic disqualification? By the way I didn't see a careers section on your site, are there plans for that once volume and I guess revenue increase?||Just because you have an account with us, does not mean that you would be barred from applying for a job.|
|Currently we don't have any openings but when we do we'll be posting them to our website and all current positions would be located at our Brantford office.|
|Our verification system was designed by our exec team and our compliance officer and aided by our legal team; and our support staff handle the verifications. (Wasn't sure what you meant by "verification team") as for requirements for any opening, we'll be sure to post them with up coming jobs! Thanks for your inquiry though!|
|Thanks for clearing that up, I appreciate your thoroughness.||Yes sorry, I was just speaking about FinCen to someone else before replying to this. I did mean Fintrac and I've edited the post!|
|I don't want to draw this exchange out too much but what puzzles me is your statement about FinCen compliance. If you're currently not accepting US customers, why would FinCEN compliance even be relevant? Let's say a customer lives in Canada. Wouldn't you simply have to comply with FINTRAC regulations, seeing as that's an a Canadian agency? And one other thing. Does Vos report transaction details to the CRA to meet fiscal obligations?||As for CRA reporting I can not comment on that, however we follow all legal requirements of a financial institution dealing with proper reporting.|
|How does the US IRS deal effect things on your end? did this announcement open the door back up for USD wire transfers?||The IRS statement actually doesn't change to much for us, FinCEN and other entities still consider it as currency - we're still actively looking into US options and moving forward on some with our legal team.|
|Do you see cryptocurrency status changing in Canada as a result of the US ruling? Do you have any indication of the direction that the bureaucrats will take?||We have met with our Member of Provincial Parliament, are meeting with our Member of Parliament and are having a meeting with the Minister of Finance arranged to continue to advocate on behalf of cryptocurrency in Canada.|
|From everything we've been hearing, we're optimistic about Canada's role in the future of Cryptocurrency, people have been very forward thinking and accepting here!|
|Disapointed you're getting ride of the free cash-out by cheque. And do you plan to have some sort of automated EFT withdraw ? you allready have my bank account into. Write now it would seem simpler to move my BTC to cavirtex when I'm ready to make a withdraw to my bank account, as I can do it from the website. What am I missing here ? thanks.||We are rolling out a number of new payment methods shortly that will make withdrawals easier for our clients.|
|Hey guys, thanks for doing this AMA. You were my first exchange, and gave me a warm welcome to the world of Cryptocurrency (free trading through Reddit promo, invited me for Doge cake)||I've actually had the pleasure of talking to some reps from the MintChip program - we kept a careful eye on it but I know that the Mint is selling it off to private enterprise. While it is in a different space from us we are always looking at the evolving landscape of digital money and what can be done to promote that in Canada.|
|I was going to ask about your stance on MintChip, the Canadian government's digital currency program, but I just read they were looking to sell it off! Has there been any interest at Vault of Satoshi about this technology?||While I don't think there is any direct partnership opportunities at this time it is always something on our radar and I think that MintChip was an interesting hardware development and it was great to see a federal institution being so forward thinking!|
|Can you tell us when and if you'll be able to operate as an exchange with USD?||We currently do accept USD, we just can't accept it from US citizens or institutions.|
|That being said we are glad to announce we have identified our US re-entry strategy and are moving forward to launching in a few states first. We have no formal timeline on this yet, but it's a big step in the right direction.|
|Quick question, if in the future I choose to close my account with VOS, will all my info and history also be deleted from your servers?||As per government regulations if you have ever made a financial transaction we are required to keep your information on file for seven years.|
|If you have not made a financial transaction you may email us with a request to delete your information. Please note that the request will be kept on file.|
|Hey guys, Are there plans to incorporate google authenticator? Thanks and keep up the good work!||User we already support Google Authenticator, YubiKey, SMS, and Email for 2FA and will be adding Authy and Gemalto soon!|
|Is your $99 per month Unlimited Plan in USD or CAD? Please state it on your website.||It is currently billed in USD as that's more widely accepted with our international audience.|
|When will Darkcoin, Worldcoin, Mintcoin, Cryptogenic Bullion, and Maxcoin be added?||Those coins will be added in the next few weeks! We're pretty excited about that!|
|Hi there! I have a level 2 VOS account. I'm not really comfortable filling out the form for level 3. Currently I have to use QuickBT or an ATM to get BTC - which sometimes I turn into DOGE. (THANK YOU FOR ADDING BTC<->DOGE! you guys are lifesavers!!)||We're actually working on adding an instant online Interac payment system, still no formal timeline but it's in the works. As for email transfers from BMO, BMO has come out and said they aren't working with businesses that operate in cryptocurrencies and so we can't accept funds from them on anything that would require us to have a BMO account or registration there. But, we can accept Pre-authorized debit and wire transfers from accounts there! Also feel free to email me about any concerns you may have about the level 3 account and I'll see if can't reassure you! ([email protected])|
|Just wondering why there is no support for an Email Transfer from BMO. Or online Interac payment, as that's the only reason I use QuickBT.|
|Would you rather fight a horse-sized duck or a hundred duck sized horse. I prefer horse sized ducks!||What a kamikaze!|
|Don't be so sure.||YES! Take that Angelo! Horsefish!|
|'disabled login' Another word, the exchange is down. I've been trying to login and access my funds for the past 5 hours.||We're back up now!|
|No need to be alarmed though people; this is just a result of VoS being pro-active with patching up the latest SSL security bug (heartbleed).||Ah yes, that is indeed a side-effect of the patch. While our systems weren't directly effected a load balance server hosted by Amazon would have been so to be better safe than sorry we've got them patching it and we are rolling over to new SSL certs! Always better safe than sorry!|
|I can see your exchange being the top exchange in Canada. Great work! I will come up to brantford one day after my exams and bring you guys some timmies, depending on the weather it could be coffee or ice caps, or just let me know ha :)||As for the UI we're currently giving it an overhaul on our internal servers and hope to have more info on that soon!|
|I know it's not much but I just sent 6000 Dogecoins :)||Every bit helps :)|
|Whats the yearly revenue and profit of your company?||Sorry, as a private company we are going to abstain from answering that one - but even if we wanted too, we couldn't; we've only been around for six months so far!|
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