In order to boost domestic production and employment, the U.S. tax code must protect domestic manufacturers and close loopholes that put them at a disadvantage to multinational corporations. Domestic producers often pay double—or more—in federal taxes compared to large multinationals that have offshored production and shift profits to tax havens. Read the article.
The U.S. has been moving toward protectionism under both President Joe Biden and his predecessor Donald Trump, who triggered a trade war both with traditional allies and antagonists such as China, says Jennifer Safavian, CEO of Autos Drive America, whose organization represents foreign automakers operating in the U.S. and advocates for free trade. Read the … Read More
“The global overcapacity in the steel industry, driven by China’s excess capacity of 400 million tonnes, is an ever-present threat to the western steel industry,” CPA Chief Economist Jeff Ferry will testify “Implemented in early 2018, the 25 percent tariffs were the trigger for an unprecedented period of growth in the U.S. industry. A broad-based wave … Read More
First, a wave of investment followed, as the majors committed more than $10 billion to build new mills in Florida, Arkansas, Texas, Arizona, and elsewhere. Second, the new mills, once opened, began hiring hundreds more steelworkers. Third, the new investments are facilitating a reduction in the emission of harmful greenhouse gases from steel plants. Steel … Read More
In the past few years, solar tariffs have contributed to the United States’ rising share of the Photovoltaic (PV) module market. Our dependence on imports and global supply chains contributed to higher PV module prices in the last twelve months. Import dependence is a double-edged sword – we accept lower prices, but we also have … Read More
“If you allow yourself to think about a scenario where the United States no longer had access to the chips currently being made in Taiwan, it’s a scary scenario,” Raimondo told CNBC. “It’s a deep and immediate recession. It’s an inability to protect ourselves by making military equipment. We need to make this in America.” … Read More
US exports to Russia have dropped about 88% by value this last year, while shipments from other countries have retreated about 60%, Commerce Under Secretary Alan Estevez said in testimony before the House Foreign Affairs Committee Tuesday. Read the article.
It was one of the very first international auto brands to enter China, widely recognized by consumers and understood by its owners to have huge potential. And yet, Jeep is shutting down its only plant in the world’s largest market. The golden age of brisk growth and abundant profits for these various joint ventures appears … Read More
Shifting manufacturing to China, as globalized free trade has encouraged, increases global emissions because plants in China use dirtier fuel sources than factories in the West use. Coal, the dirtiest fossil fuel, provides 60 percent of Chinese total electricity generation, compared with less than 22 percent in the United States. Every washing machine or toy made … Read More
Shifting manufacturing to China, as globalized free trade has encouraged, increases global emissions because plants in China use dirtier fuel sources than factories in the West use. Coal, the dirtiest fossil fuel, provides 60 percent of Chinese total electricity generation, compared with less than 22 percent in the United States. Every washing machine or toy … Read More
