Right now, there are 76 container ships off the coast of Los Angeles desperate to dock and unload their cargo. There are similar problems on the East Coast as well. The cost of shipping one container from southern China to the west coast of the U.S. is now $20,000. It used to be around $3,000. … Read More
The country has literally handed over trillions of dollars of its wealth to other countries, with China getting the lion’s share. This was never supposed to be able to happen under the theory of trade espoused by economists. But it has. Read the article.
“For too long, China’s lack of adherence to global trading norms has undercut the prosperity of Americans and others around the world,” Ms. Tai said. “In recent years, Beijing has doubled down on its state-centered economic system. Read the article.
First, President Trump levied tariffs on all things Chinese (including semiconductors). Then his administration also tried to prevent exports of U.S.-made, and later of any U.S.-designed, semiconductors to China. Many of these policies have been continued by the Biden administration. Read the article.
The planned cuts will see tariffs lowered to 10% from 15% for frozen pork, 2% from 5% on corn, and eliminated for wheat from the current 3%, Tuan said. The move to boost purchases of American agricultural goods is the latest effort to improve relations. Read the article.
USTR Katherine Tai says the Biden administration is fine with China tariffs. The world has not fallen apart because of them. Recent supply chain disruptions, all of them stemming from China, will be used as a battering ram against existing China trade policies. Read the article.
China lambasted a World Trade Organization (WTO) ruling in a row with the United States over Washington’s measures to limit the import of solar panel cells, calling it “erroneous and dangerous.” Read the article.
“Since 2000, the U.S. trade deficit has doubled, from $370 billion to $677 trillion last year,” Ferry plans to say. “We’ve had trade deficits for 45 consecutive years, a world record…Over these 20 years, our growth rate in national income per person has been a paltry 1.18%, compared to the 3%-4% levels we saw before … Read More
The new deal also raises Canada’s duty-free level from C$20 to C$150 and the sales tax increase from C$20 to C$40. However, that only applies for U.S. goods ordered online. This solution will be profitable for Canadian customers but not for Canadian retailers. Read the article.
The Federal Circuit affirmed an agency determination that Hyundai didn’t fully cooperate with a duty review. The U.S. maintains antidumping duties on large power transformers from South Korea Read the article.
