If Europe does indeed follow America in becoming more protectionist, it will do so for similar reasons – a fear that Chinese competition is undermining Europe’s industrial base and with it social and political stability. The automotive sector provides more than 6 percent of jobs in the EU, according to the European Commission. This is … Read More
Trina Solar, which has come off a record H1 in revenues and profits, has decided to spend $200 million on a solar plant in Texas. The move comes even as Chinese firms remain embroiled in tariff-related issues for sales in the US, a key export market. Read the article.
Our simulation finds that the tariff change would increase economic growth and create opportunity for Americans through increasing incomes and job creation. Under the proposal, real household incomes would increase by nearly $8,000 and 3.3 million new jobs would be created. Real GDP would grow by 3.61%. Read the article.
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
Trump argued in a recent letter to the Wall Street Journal that criticisms like Murphy’s are “debunked talking points from corporate-funded studies about our tariffs’ alleged impact.” Jacking up tariffs could spur inflation, hurt U.S. manufacturing and prompt other countries to increase their tariffs as well, according to John Murphy, senior vice president for international … Read More
Tariffs on American apples, peas and lentils imposed by the Indian government in 2018 were lifted Wednesday, following an agreement between the U.S. and India announced in June. The 20% tariff was imposed on U.S. agricultural products in retaliation for tariffs on steel imposed by the then-Trump Administration. The U.S. tariffs on Indian steel were … Read More
The GAO report estimates importers might owe about $32 million in duties because of invalid use of Section 232 exclusions as of Nov. 10, 2021. The analysis showed that during the period of review, importers properly utilized 61,243 exclusions to avoid paying Section 232 duties. However, there were 3,959 instances of invalid use related to … Read More
