“The global overcapacity in the steel industry, driven by China’s excess capacity of 400 million tonnes, is an ever-present threat to the western steel industry,” CPA Chief Economist Jeff Ferry will testify “Implemented in early 2018, the 25 percent tariffs were the trigger for an unprecedented period of growth in the U.S. industry. A broad-based wave … Read More
First, a wave of investment followed, as the majors committed more than $10 billion to build new mills in Florida, Arkansas, Texas, Arizona, and elsewhere. Second, the new mills, once opened, began hiring hundreds more steelworkers. Third, the new investments are facilitating a reduction in the emission of harmful greenhouse gases from steel plants. Steel … Read More
In the past few years, solar tariffs have contributed to the United States’ rising share of the Photovoltaic (PV) module market. Our dependence on imports and global supply chains contributed to higher PV module prices in the last twelve months. Import dependence is a double-edged sword – we accept lower prices, but we also have … Read More
“If you allow yourself to think about a scenario where the United States no longer had access to the chips currently being made in Taiwan, it’s a scary scenario,” Raimondo told CNBC. “It’s a deep and immediate recession. It’s an inability to protect ourselves by making military equipment. We need to make this in America.” … Read More
US exports to Russia have dropped about 88% by value this last year, while shipments from other countries have retreated about 60%, Commerce Under Secretary Alan Estevez said in testimony before the House Foreign Affairs Committee Tuesday. Read the article.
It was one of the very first international auto brands to enter China, widely recognized by consumers and understood by its owners to have huge potential. And yet, Jeep is shutting down its only plant in the world’s largest market. The golden age of brisk growth and abundant profits for these various joint ventures appears … Read More
Shifting manufacturing to China, as globalized free trade has encouraged, increases global emissions because plants in China use dirtier fuel sources than factories in the West use. Coal, the dirtiest fossil fuel, provides 60 percent of Chinese total electricity generation, compared with less than 22 percent in the United States. Every washing machine or toy made … Read More
Shifting manufacturing to China, as globalized free trade has encouraged, increases global emissions because plants in China use dirtier fuel sources than factories in the West use. Coal, the dirtiest fossil fuel, provides 60 percent of Chinese total electricity generation, compared with less than 22 percent in the United States. Every washing machine or toy … Read More
The legal and regulatory risk of doing business in China may be about to get a lot higher. The China Securities Regulatory Commission is implementing changes to its rules governing publicly offered securities investment funds. These rules include requiring foreign-owned fund managers such as BlackRock and Fidelity to create Communist Party cells when operating in … Read More
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
