Taxes distort economies. For example, income taxes discourage productive work; gas taxes reduce travel; and tariffs inhibit international trade. Economists often oppose individual taxes, because they imagine an ideal economy with no distortions, and see these taxes as departures from the ideal. President Trump’s proposed tariffs would introduce new market distortions, as taxes always do. … Read More
OTTOLOCK, the Oregon-based brand has found a niche within the bike-lock marketplace with the Cinch Lock. This super-portable lock (which also made GearJunkie’s list of Best Bike Locks) represents the majority of OTTOLOCK’s business — and it’s made entirely in the USA. Well, almost entirely. Of the lock’s 29 components, only a single one comes … Read More
The USGS study underscores the importance of building supply chain resilience through measures such as expanding stockpiles of critical minerals, investing in recovery of gallium and germanium from mine waste, and enhancing recycling efforts to recover these minerals from e-waste. Additionally, the report highlights the need for a comprehensive approach to mineral supply chains, including … Read More
A resilient and secure supply of foundational semiconductors is critical to U.S. national and economic security. These semiconductors are essential to key sectors of the U.S. economy, powering cars, medical devices, critical infrastructure, key aerospace and defense systems, and the goods and services we rely on every day. The People’s Republic of China (PRC) routinely … Read More
But estimating just how much higher is hard to say. It’s possible that producers and importers will absorb some of the costs to keep prices down and stay more competitive. But he cautions that because the tariffs apply only to the product’s value at the border, and not to other costs like transportation and distribution … Read More
“Plus, the U.S. is not the singularly dominant power in trade that it once was and we could see the U.S. efforts create a level of isolation for the U.S. that is not anticipated or desired overall.” My Note: And the reason we are no longer the singularly dominant power is because we embraced globalization … Read More
Mexico will impose a 36.23% tariff on imports of steel wire used for welding from Vietnam, saying they are harming local producers in Latin America’s second-largest economy. The economy ministry alleged Vietnam was “dumping” steel wire in Mexico, meaning exporting it at below-cost prices. Read the article.
Chinese automakers captured their smallest share of Europe’s electric-vehicle market in eight months, after new tariffs added as much as 35% to the cost of importing cars to the region. The European Union imposed the added tariffs at the end of October, after an investigation found that state aid had provided China’s EV industry with … Read More
The CBO projects that even with the projected drop in imports, the proposed tariff policy would cut deficits by $2.7 trillion over the next decade. Furthermore, the CBO forecasts minimal effects on prices and GDP. According to their preliminary findings, the 10/60 tariff package would lead to only a one-time 1% increase in prices. Further, … Read More
The Coalition for a Prosperous America (CPA) today highlighted key findings from the Congressional Budget Office’s (CBO) preliminary report on tariffs, which confirms CPA’s analysis that tariffs can raise significant government revenue while benefiting U.S. industries. The CBO’s findings show that the proposed 10/60 tariff package—an additional 10% global tariff and a 60% tariff on … Read More
