Trade sanctions and a dollar finding no bottom

The World Trade Organisation (WTO) has approved the EU, Japan and others to hit the US with $150 million in trade sanctions over an illegal anti-dumping law.

[...]

The case, one of a number pitting Brussels against Washington, involves the so-called Byrd amendment, which the WTO has repeatedly said breaks trade rules by handing out duties raised in anti-dumping cases to US firms.

The opening round of punitive duties - which will be reviewed each year - is relatively modest, when compared, for example, with the $4 billion the EU was awarded in a case over corporate tax breaks. But the figure could soar in coming years.

The administration of US President George Bush has called on Congress to drop the law. But it enjoys wide support among legislators, who see it as a way of punishing foreign companies accused of dumping, or exporting goods at below the cost of production.

[...]

Canada, which along with Brazil, South Korea, India, Mexico and Chile is also involved in the complaint, has said that it is studying whether to impose sanctions and on what

[...]

Trade tensions between the European Union and the United States are running high over a number of disputes, including mutual accusations of paying illegal subsidies to Airbus and
Boeing, their main civil aviation companies.

  Aljazeera article

Free market. Feh. Free trade. Right. Whatever.

The dollar hit a new record low against the euro as dealers reacted with disappointment to weaker-than-expected US employment figures.

[...]

Dealers showed concern about a report on the US labour market, which created just 112,000 jobs in November.

Economists had been expecting, on average, about 200,000 new jobs in November.

[...]

The US currency has slid to a series of record lows against the euro, and to the lowest level for almost five years against the yen and for 12 years against sterling, amid worries about the US current account and budget deficits.

  Aljazeera article

This is a controlled fall, isn't it?