On the Wire | News & Analysis from the Web for the Week of October 29

Trump Asks Cabinet to Draft Possible Trade Deal With China.  Bloomberg 11/2
“President Donald Trump wants to reach an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month and has asked key U.S. officials to begin drafting potential terms, according to four people familiar with the matter. . . .”


Breaking Through: Manufacturers Call for Robust Trade Agenda and Elimination of Unfair Trade Barriers.  Shopfloor 10/31
“Getting trade right is not just a theory: the very success of American manufacturers from Boise to Buffalo depends on a strong trade agenda. Manufacturers in the United States have already been able to benefit substantially from global economic growth—including record international levels of demand among the 95 percent of consumers who live outside of our borders for high-quality consumer and durable manufactured goods—thanks in large part to trade agreements that lower barriers and enforce fair rules of the road for commerce. In fact, U.S. manufacturing output and exports have quadrupled over the past 25 years as a result of these types of agreements and policies. Yet, despite that growth, major barriers remain that continue to hold back even greater success for our nation’s manufacturers. . . .”


U.S. workers see fastest wage growth in a decade, but inflation takes a toll. Washington Post 10/31
“U.S. workers are seeing the largest nominal wage increase in a decade, the Labor Department reported Wednesday, as companies compete harder for employees than they did in recent years. . . .”


U.S. Plans More China Tariffs If Trump-Xi Meeting Fails, Sources Say.  Bloomberg 10/30
“The U.S. is preparing to announce by early December tariffs on all remaining Chinese imports if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war, three people familiar with the matter said. . . .”


Many U.S. firms in China eyeing relocation as trade war bites: survey.  Reuters 10/29
“More than 70 percent of U.S. firms operating in southern China are considering delaying further investment there and moving some or all of their manufacturing to other countries as the trade war bites into profits, a business survey showed on Monday. . . .”


U.S. top court wary of limiting company power to arbitrate disputes.  Reuters 10/29
“U.S. Supreme Court justices signaled on Monday they may issue more pro-business rulings giving companies wide latitude to use arbitration to resolve disputes with employees, customers or other businesses rather than the courts. . . .”