Some lawmakers, like outgoing Sen. Sherrod Brown, D-Ohio, have long said such tariffs were necessary to compete with Chinese-made products. The Chinese government has been known to skirt international trade rules by heavily subsidizing certain industries, allowing companies to produce goods at below-market prices. “If those jobs go to China, the jobs are going to … Read More

“We seem to err more on what I would call a checkbook strategy,” she told the Financial Times in an interview published Thursday, highlighting that last time the EU’s strategy was “not to retaliate, but to negotiate.” Lagarde repeated earlier warnings on the negative effects of a full-blown trade war and said that “we could … Read More

President Xi has no right to pretend that his country is the flag bearer of free trade. China has distorted the free trade system through preferential treatment for state-owned enterprises, non-transparent industrial subsidies, and economic coercion against other countries. All of these are for China’s own political and economic gain. Turning a blind eye to … Read More

Although both administrations (Biden and Trump) faced criticism for driving up costs through tariffs and industrial policy, global events were primarily behind rising prices. Trade involves sacrifices to achieve gains. Cheaper consumer goods might lead to fewer domestic jobs or lower wages in certain industries. Increased imports can mean a reduction in local manufacturing. Running … Read More

Swati Dhingra, an external member of the Bank’s rate-setting monetary policy committee, said Trump imposing a threatened 60% tariff on goods from China sold in the US could lead Chinese exporters to cut their prices elsewhere to ensure they maintained current trade volumes. “If there is the kind of big 60% type of tariff increase … Read More

Under President Biden, the trade war with China not only persisted but intensified. Key figures within his administration, such as US Trade Representative Katherine Tai, framed US-China relations in terms of protecting American industries and workers from China’s expansionist ambitions. Biden’s policies exceeded Trump’s tariffs, imposing restrictions on technology exports, especially in critical areas like … Read More

Walmart boosted its outlook for the year on a solid start to the holiday season and strong demand from US consumers searching for value. Walmart shoppers spent more in each checkout, on average. Most of that growth was driven by consumers from upper-income households, or those earning $100,000 or more per year. That cohort made … Read More

“We never want to raise prices,” John David Rainey, the company’s CFO said in an interview with CNBC on Tuesday. “Our model is everyday low prices. But there probably will be cases where prices will go up for consumers…we want to work with suppliers and with our own private brand assortment to try to bring … Read More

The US Commerce Department has ratcheted up tariffs on Nippon Steel Corp. just as the Japanese steelmaker made an anti-import promise to gain support for its $14.1 billion takeover of United States Steel Corp. The Commerce Department imposed a dumping margin of 29% on Nippon Steel for selling hot-rolled steel in the US at prices … Read More

“The Mercedes-Benz will start building in the United States, and they have a little bit. But you know what they really are? Assembly, like in South Carolina,” he said. “They don’t build cars. They take them out of a box and they assemble them. We could have a child do it,” he said. Read the … Read More