The weaponization of interdependence has led some to forecast deglobalization. To some extent, this trend has been accelerating since the pandemic began, and now, with the sanctions response to the Ukraine war, more so. Read the article.

U.S. trade chief Katherine Tai said it’s time to forget about changing China’s behavior and instead focus on rebuilding the U.S. industrial manufacturing base and making domestic investments to counter the Asian nation. Read the article.

The U.S. is exporting more diesel than it has in years as buyers in Europe and Latin America vie to secure supplies that have tightened since Russia’s invasion of Ukraine. Waterborne diesel exports out of the U.S. Gulf Coast have climbed to 1.04 million barrels per day so far this month, on track to hit the … Read More

The Coalition for a Prosperous America (CPA) released a statement after the Department of Commerce initiated an anticircumvention investigation into Chinese companies operating in Malaysia, Thailand, Vietnam, and Cambodia that are illegally circumventing existing antidumping and countervailing (AD/CVD) duty orders on solar cells and modules from China. Read the article.

Larry Fink, the head of financial giant BlackRock, put it bluntly: “The Russian invasion of Ukraine has put an end to the globalisation we have experienced over the last three decades.” Read the article.

“Given the history of disease detections, U.S. potato growers fear that potato wart in Prince Edward Island is far from under control,” the council said in a statement, citing the discovery of the fungus in fields on the Island in eight of the past 10 years. Read the article.

The Biden administration plans to reinstate exemptions from Trump-era tariffs on about two-thirds of Chinese products that were previously granted waivers, most of which expired by the end of 2020. Read the article.

The deal will allow 500,000 metric tons of steel annually to be imported duty free, with higher amounts subject to tariffs, starting June 1, the Commerce Department said in a statement. The U.K. also will end retaliatory tariffs on more than $500 million worth of U.S. exports, including distilled spirits, agriculture products and consumer goods. … Read More

China is ramping up corn purchases from the U.S. as Russia’s invasion of Ukraine snarls grain exports and puts spring plantings in doubt, pushing prices higher in Chicago. The world’s top importer scooped up 200,000 tons of corn last week for shipment in the season beginning Sept. 1, U.S. Department of Agriculture data showed Thursday. Read … Read More

For starters, both the U.S. and U.K. default tariff rates (UK calls their most favored nation default rate their “global” tariff rate) are already low. The Global Tariff averages at 6%, while the U.S. tariff averages at 3.4% across all product lines. Auto imports have a tariff of 2.5%. Pharmaceuticals are tariff-free. Read the article.