The USITC March 2023 report showed that the Section 301 and 232 tariffs boosted production in all twelve of the industries studied. The report shows that price increases in the product categories targeted with tariffs were in the 3%-4% range, contrary to mainstream media narrative—most of the tariffs targeted intermediate (industrial) goods. Downstream goods, including consumer … Read More
The US tariff on EVs coming from China completely wipes out the 20% to 25% cost advantage China has because of lower labor costs, local suppliers and vertical integration. In Europe, the tariff on Chinese EVs is 9%. The only way for the Chinese to sell EVs in the US competitively is to make them … Read More
Congress leader Priyanka Gandhi Vadra on Tuesday slammed the Centre over its decision to reduce customs duty on apples imported from the US, saying it will make import of American apples easier and the move has come at a time when apple growers were facing problems. Read the article.
Gone are the days when free trade was the answer to everyone’s prayers. Even the International Trade Commission couldn’t run the numbers in a 2022 report on NAFTA and the Korea-U.S. Free Trade Agreement to make it look like anything more than a boom for multinationals who either shifted production to Mexico or got to … Read More
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 the Federal Reserve. The aerospace, light-truck and computer equipment industries are also vulnerable, according to researchers Andrea De Michelis and Mariano Somale, who quantified risks to US manufacturers … Read More
The average reservation wage – the lowest annual pay that workers would accept to take a new job – increased to $78,645 in July. That’s up from about $72,900 a year earlier and $69,000 in July 2021. According to a Federal Reserve Bank of New York survey released Monday, pay demands among women are rising … Read More
We are already in danger of witnessing China’s surpassing the United States in critical areas economically, technologically, and militarily. It follows, then, that we must add an “American factor” to ensure that China does not successfully challenge America’s leadership in space. Read the article.
The United States imported some $4.4 billion worth of wooden cabinets, vanities and their components from China in 2018. The U.S. Commerce Department on Feb. 24 imposed anti-dumping duties of up to 262.2% and anti-subsidy duties of up to 293.5% in an investigation that started last year with a petition from the American Kitchen Cabinet … Read More
