Statement by Secretary Vilsack Regarding India’s Reduction In Tariffs on Agricultural Products
“While important progress has been made, significant tariff and nontariff barriers to American agricultural products accessing the Indian market remain. Today’s announcement, leading into President Biden’s participation in the G20…
US Automobile Industry Faces High Sourcing Risk, Fed Study Finds
The US automobile industry faces some of the highest supply-chain risks, due to geopolitical factors and sourcing of electronic components like semiconductors, according to a new sourcing risk index from economists at…
Tariff Relief Hasn’t Helped America’s Poorest Trading Partners
For the past 50 years, the United States has provided economic assistance to dozens of countries. Central to this effort has been “trade liberalization” — the idea that the United…
Biden keeping Trump’s China tariffs despite Beijing’s plea
The United States is not going to cancel its additional tariffs imposed on Chinese goods despite Beijing’s call for their removal at recent top-level bilateral meetings in Beijing, but may…
US, EU Plan New Chinese Steel Tariffs in Bid to End Trump-Era Trade Conflict
Any new tariffs would deal a blow to Chinese steelmakers, which have been shipping increasing volumes this year due to weak demand at home. The depreciation of the yuan has…
US extends tariff exclusions on some Chinese categories till end of 2023
The import tariff exclusions include industrial components such as pumps and electric motors, some car parts and chemicals, bicycles and vacuum cleaners. The COVID-related exclusions include medical products like face…
The Global Economy’s Real Enemy is Geopolitics, Not Protectionism
“The era of free trade seems to be over. How will the world economy fare under protectionism?” What some decry as protectionism and mercantilism is really a rebalancing toward addressing…
DOC issues preliminary ruling on high tinplate steel tariffs
The United States Department of Commerce (DOC) recently issued a preliminary ruling on imposing tariffs of up to 300% on tinplate steel materials imported into the United States from Canada,…
Mexico: Government imposes temporary import duties on the importation of goods classified in 392 tariff items
The decree focuses on the implementation of temporary import duties ranging between 5% and 25% on goods classified in 392 tariff items covering steel, aluminum, bamboo, rubber, chemical products, oils,…
Challenges to implement tariff policy
The government has finally prepared a national tariff policy to boost trade competitiveness and enhance consumer welfare. Titled ‘National Tariff Policy 2023’, it is the first-ever tariff policy of the…