Treasury Secretary Janet Yellen said the US should work on shifting its dependence away from some rival nations for supplies of critical inputs as global supply-chain logjams have hurt the domestic economy. Read the article.
Corporate profits grew by double and sometimes triple digits during the COVID-19 pandemic. Worker wages did not. Record corporate profits did not stop these importers’ lobbyists from pursuing even higher profits by petitioning for 301 China tariffs exemptions. Removing tariffs on Chinese imports will only further enrich transnational enterprises that have profited during the COVID-19 pandemic and … Read More
Moser uses somewhat of a “cheat code” to measure onshoring. He measures reshoring by U.S. headquartered companies sourcing from the world, along with foreign direct investment (FDI) by foreign headquartered companies into the U.S. Combined, these efforts have led to about 6,000 manufacturing jobs per year in 2010 to about 260,000 per year in 2021, … Read More
The CPA policy paper forecasts that in 2025, China will continue to dominate global EV battery production with 56% of global production, while the U.S. will account for just 19%. As the key component of an electric vehicle, leadership in batteries will play an important and possibly decisive role in determining which nations lead the … Read More
“Instead of following U.S. law and holding China accountable for illegal trade activity, the Biden administration is giving China’s solar manufacturers a green light to continue circumventing AD/CVD duties. Equally concerning is the fact that the White House failed to consult a single American solar manufacturer on this disastrous decision.” Read the article.
However, it is unclear if commercial buyers will even need U.S. made product if they now have unfettered, duty-free access to Chinese multinational solar panels that have been flowing out of Southeast Asia ever since mainland Chinese manufacturers were hit with anti-dumping and countervailing (AD/CVD) duties and solar safeguard tariffs over four years ago. Around … Read More
It would tell US manufacturers that “even if you have a valid case and you’re losing jobs” because of unfair competition, you might be denied relief, said Scott Paul, president of the Alliance for American Manufacturing, a group that represents steelmakers and workers. “If you weaken that, you’re going to weaken overall support for more … Read More
Despite bipartisan opposition from lawmakers in the House and Senate, the Federal Retirement Thrift Investment Board (FRTIB) yesterday proceeded to begin investing federal retirement savings from the Thrift Savings Plan (TSP) — the largest defined contribution plan in the world — in bad-actor Chinese companies. Read the article.
The Coalition for a Prosperous America (CPA) today sent a letter to Dr. Robert Califf, Commissioner of the Food and Drug Administration (FDA), over the agency’s controversial decision to allow the continued sale of generic drugs from India despite faulty data and a lack of proof of therapeutic equivalence. Read the article.
Economics will find a way to include protectionism but building a theoretical case for budget deficits will be much harder. Read the article.
