rejectfreeadmin After China labeled shipbuilding a strategic industry in 2006, the government funded several new shipyards with subsidies that saved the industry up to $4.5 billion over a six-year period. China quickly doubled its market share from roughly one-quarter of world ship orders to half. Trump last year imposed tariffs on steel after the U.S. share … Read More
Even with the phase one deal in effect, Trump will have increased the average US tariff on imports from China to 19.3 percent from 3.0 percent in January 2018. The deal means the average US tariff will be reduced only slightly from its current level of 21.0 percent. This will reduce China’s average tariff on … Read More
Production of motor vehicles and parts jumped 12.4%, the most in a decade; excluding that category, factory output rose 0.3%, the first gain in three months. Total industrial production, which also includes mines and utilities, rose 1.1% after a 0.9% decrease. Read the article.
The claim: GM has struggled in China as a result of President Trump’s trade policies with China. The reality: GM’s eight-year reign as the top foreign automaker in China ended in 2013 as Volkswagen took on that distinction. Part of the problem has been stale models. Read the article.
The tariffs encouraged American steel companies to increase investment beyond simply increasing capacity. The steelmakers argue they needed to make the investment to be competitive for the future. “We’re among the lowest-cost producers. We’re extremely competitive if we’re operating on a level playing field. But there is massive overcapacity of steel from China…and it’s heavily … Read More
Former USTR Charlene Barshefsky says, “The United States imposed protectionist tariffs that…failed to invest in domestic infrastructure…” The reality: Nucor will spend more than $2 billion to add over 2.6 million tons of capacity. US Steel announced it is spending $1.2 billion on a new kind of steel mill that turns molten steel directly into … Read More
Irish Spring makes several types of body wash. Some are made in the USA (the ones I buy) and some are made in Mexico. The shocking part is that they are all priced the same in the stores, even though Mexican wages are one-eighth of U.S. wages. On each bottle, there is a numerical code. … Read More
According to the ideological prejudices of the present, built up over nearly four decades of globalization, free trade and deregulation represent the natural order of things. History, however, tells us that the United States was a protectionist power for much of its existence, and the tariff was a crucial factor in its dethronement of Britain … Read More
Consumers may save money now by buying Chinese-made toys, shoes, apparel, and the like. However, they are simultaneously cutting the lifespan of Social Security – and therefore future benefits for themselves – by not buying goods from American producers. Foreign producers don’t pay taxes to America for the benefit of any taxpayer-funded program popular with … Read More
Andrew Jackson, in explaining his support for a tariff, wrote: “We have been too long subject to the policy of the British merchants. It is time we should become a little more Americanized, and, instead of feeding the paupers and laborers of Europe, feed our own, or else, in a short time, by continuing our present policy, … Read More
