This is merely the latest Commerce Department installment in a longer course of action adding more and more Chinese companies to the sanctions list over the last two years. Some 57 Chinese companies were added to the list this year alone. The Commerce Department’s Entity List effectively bans US exports of products to the listed companies. … Read More
The average effective tariff rate in Pakistan is the highest in the region against 10.6% in Bangladesh, 7.5% in India, 7.0% in Sri Lanka, 5.2% in China, and 4.5% in Malaysia, said the Federal Board of Revenue (FBR) sources. In auto sector, they said, the incidence of import taxes on CBUs is as high as … Read More
Once effective, the rule will subject goods originating from Hong Kong to the same tariffs currently in place on Chinese-origin goods, including additional tariffs of 7.5% to 25% on approximately $370 billion worth of Chinese-origin products. The resulting impact will affect companies that modified their supply chains to rely on Hong Kong as a viable … Read More
A World Trade Organization panel has found the United States broke international trade rules with some of its 2017 tariffs on Canadian softwood lumber, which the U.S. set at 20.23 per cent after accusing Canadian federal and provincial governments of subsidizing softwood. However, it is unlikely that the ruling will take affect since the U.S. … Read More
US President Donald Trump threatened Thursday that if he’s re-elected, he’ll impose tariffs on US companies that refuse to move jobs back to the country from overseas. “So what are they going to do? They are going to bring the jobs back,” Trump said. Read the article.
The Trade Office explains that as of September 1 it will make several changes to the list of products: it will remove some from Greece and the United Kingdom, but it will offset their value by adding products from France and Germany to the list. It will also maintain rates of 15% for goods in … Read More
Thursday, Aug. 22, was the second day of hearings held this month by the U.S. Trade Representative to allow Southeast farmers to air their grievances about rising imports of cheap Mexican fruits and vegetables. The hearing started off with witnesses like Georgia Farm Bureau President Gerald Long, who added another voice to the call for … Read More
Europe has agreed to suspend tariffs on imports of live and frozen lobster from the U.S. for at least 5 years. In exchange, the U.S. will cut tariffs by 50% on some European products, including crystal glassware and cigarette lighters. While the agreement covers a tiny fraction of trans-Atlantic trade, it’s important for the American … Read More
China, the world’s top soybean buyer, is ditching expensive Brazilian purchases and replacing previously done deals with American supplies, according to people familiar with the transactions. My note: Tariffs work as leverage. Read the article.
Next time a free trader says tariffs hurt consumers, show them the facts in this article: By December 2018, washing machine prices due to tariffs were 13% higher than a year earlier. But prices have been drifting down and today they are below pre-tariff levels. Read the article.
