Politico reported a possible token cut of $10 billion, out of $370 billion—and added the confounding assertion that the administration is also considering a full-scale investigation of China’s massive export subsidies under Section 301 of the 1974 Trade Act, which could lead to more tariffs. It would make no sense to both do that investigation … Read More
After the U.S. increased tariffs from 10% to 25% in 2019, one survey found that support for open trade fell sharply, from an average of 6.5 out of 10 to 4.3 out of 10. A score under 5 means that free trade isn’t favorable. Read the article.
Turkey announced anti-dumping levies on flat steel imports, saying that shipments from European and South Korean companies were hurting domestic producers. Levies on imports will range from 7% to 12.8% of the purchase price, according to a Trade Ministry decree published in the nation’s official gazette. Read the article.
President Biden is considering gutting Section 301 tariffs on China that were put in place by President Trump. These tariffs were imposed after a U.S. government investigation confirmed that China continues to use illegal and unfair trade practices that are directly harming American workers and U.S. manufacturers. Read the article.
Among all countries, China has been most affected by the United States’ shift toward protectionism in recent years, and this in turn has resulted in Chinese citizens being less supportive of open trade, according to a new study by the Peterson Institute of International Economics (PIIE). Read the article.
Then we have “free trade.” The neoliberals made it a top priority to make it as easy as possible to bring in cheap manufactured goods from developing countries. This cost millions of manufacturing jobs, and put downward pressure on the pay of non-college educated workers more generally. Read the article.
“We have to play both defense and offense. Frankly, when I look at tariffs, I see them mostly as defense,” Tai said in a response to a question by Senator Jeanne Shaheen (D-NH). “Defense is not going to be enough. We need offense. Read the article.
“The China tariffs are, in my view, a significant piece of leverage, and a trade negotiator never walks away from leverage,” US Trade Representative Katherine Tai said at a Senate hearing on Wednesday. Read the article.
A group of solar development heavyweights has promised to purchase up to $6 billion worth of U.S.-built panels over the course of four years. The plan is to source up to 7 gigawatts of domestically made panels per year, an amount equivalent to more than a quarter of all the solar capacity installed nationwide in … Read More
For US President Joe Biden, it’s a Hobson’s choice on Chinese solar panel imports. His new move to pause tariffs on imported Chinese-made silicone solar panels for two years has been either hailed or criticized. The announcement came in the middle of an ongoing investigation by the US Commerce Department. Possible trade agreement violations are … Read More
