Fox Business Network reported in June that John Deere, which sells tractors, crop harvesters and other large equipment, was laying off roughly 600 staff members at plants in Illinois and Iowa. The layoffs came amid a broader restructuring of the company’s business that included plans to move its manufacturing of skid steer loaders and compact … Read More
“We will put a 100% tariff on every single car coming across the Mexican border,” Trump said in a speech in Georgia. “The only way they’ll get rid of that tariff is if they want to build a plant right here in the United States, with you people operating that plant,” the former president added. … Read More
Following a review of over 1,000 comments, USTR has largely retained the proposed list of products subject to Section 301 tariffs announced in the May 2024 report with a few modifications. In total, the expanded tariffs cover 382 tariff categories, with an approximate annual trade value of $18 billion. Read the article.
Republican U.S. Senator Marco Rubio on Thursday proposed barring Chinese manufacturers from evading tariffs by setting up factories in other countries like Mexico, Vietnam or Malaysia. Rubio accused Chinese manufacturers of shifting production to other countries that face lower U.S. tariffs, saying it allowed them “to evade tariffs and flood the U.S. market with cheap … Read More
Reindustrialization might cause some above-target inflation. Deindustrialization, meanwhile, might take countries out of the running of the industries of today, and the future, too, said former European Central Bank president Mario Draghi. Last week, Draghi released what amounts to a 397-page magnum opus on the future of European industry and a massive warning shot that … Read More
This is not the first time Harley-Davidson has made a move like this. In 2019, the closure of Harley-Davidson’s Kansas City factory (with 572 jobs lost) coincided with a shift in production to its then brand-new Thailand facility. At the time, Harley blamed the production shift on the European Union’s 31% tariffs on U.S.-made bikes, … Read More
“President Biden and Ambassador Tai’s decision to raise tariffs across key sectors sends a clear message that the U.S. is serious about reducing our dependence on China and safeguarding American workers and manufacturers from predatory trade practices,” said Zach Mottl, Chairman of CPA. “The China tariffs have already proven to be an essential tool for reshoring and … Read More
Mexico agreed to restrain steel and aluminum export volume to 2015-17 levels. The U.S. complied with the agreement. Mexico almost immediately breached it and continues the breach today, directly harming many U.S. companies and American workers. A recent economic analysis from CPA found that more than one million American jobs are at risk as a … Read More
Items listed for sale include beauty products for young women and girls for as low as a penny, and kids’ clothing for less than $10, well below average American direct-to-consumer merchants’ prices such as those found at Amazon and other outlets. But they mostly avoid U.S. import tariffs on Chinese goods because the threshold for … Read More
The International Emergency Economic Powers Act gives the president sweeping authority to control economic transactions after declaring an emergency. Some trade experts believe it is supple enough to also implement Trump’s pledge to phase out imports of essential goods from China over a period of four years. Read the article.
