Treasury Secretary Janet Yellen is arguing for repealing a broad set of U.S. tariffs, allegedly as a way to fight inflation. Her argument is said to rely on a set of reports[1] published in March by the Peterson Institute that claimed that cutting tariffs would cut 1.3 percentage points off the U.S. rate of inflation. … Read More
Russia’s invasion of Ukraine has sent European and Asian buyers rushing to buy American liquefied natural gas, in some cases securing output from new projects still years away from production. So far in 2022, U.S. producers have signed long-term contracts of 15 years or more for an annual 20 million tons of LNG — roughly double … Read More
Trade remedies helped U.S. manufacturers survive being swamped by Asian overcapacity, protected domestic labor markets, and never led to the devastation and disruption the opposition warned about if imports were curtailed. Solar and steel are two cases in point and are the most well-known. Kitchen cabinets are another sector that’s expanded due to trade remedies. … Read More
US and European businesses are reconsidering their investments in China after the lockdown in Shanghai and restrictions in other cities caused major disruption to their operations. Read the article.
The US plans to increase the penalties for companies violating rules that limit export of products that threaten national security, an effort recently focused on countries including Russia and China, according to a top Biden administration official. Read the article.
Meat processor stocks are operating in the stock market during the day’s biggest falls. These casualties reflect the difficulty in selling meat to China. This is because today the government has authorized 13 more American pork, beef, and poultry bakers to export their products to Asian countries. Read the article.
Japanese manufacturers are increasingly looking to move offshore operations to their home market, according to a Tokyo Steel Manufacturing Co. executive. The rapidly weakening yen that boosts the competitiveness of Japanese exports… Read the article.
Low prices rely on the good behavior of countries like Russia and China (whom we have no reason to trust). But now, the proverbial chickens have come home to roost. Recent events have demonstrated that we cannot rely so heavily on foreign production. We are paying the price now for the low prices we once … Read More
Australia, the world’s biggest exporter of alumina, announced a ban on shipments to Russia. Alumina is the key ingredient for producing aluminum. Read the article.
Once again, the Canadian Manufacturers face a risk of being hit by U.S. Protectionism and need to fight for necessary exemptions. Challenges were raised after the Biden Administration announced new procurement guidance Monday that requires the construction material purchased for federally-funded infrastructure projects to be produced in the U.S. The Head of Canadian Manufacturers and … Read More
