Mountain Pass has emerged as a flagship operation for the US push to reshape flows of critical minerals. It accounted for about 15% of the world’s mined rare earths supply in 2021. MP Materials is also planning a factory in Texas to make rare-earth magnets, which are vital in everything from smartphones to electric vehicles … Read More
Finance Minister Christian Lindner is worried that Germany’s economy is becoming too reliant on China and called for closer trade ties with democratic countries to counteract this dependency. “Dangerous development: German trade deficit with China more than doubled in 2022,” Lindner wrote on Twitter. “We should learn from the experience with Russia.” Germany “urgently” needs … Read More
BC’s lumber industry anxiously dissects US President Joe Biden’s latest “Buy American” rhetoric to better understand its implications for Canadian exporters. The BC Lumber Trade Council is concerned that President Biden now also wants to restrict the use of two-by-fours from overseas for overseas projects. x27; US federally funded infrastructure. Mr. Biden announced these expanded … Read More
Who could imagine that a small order-fulfillment Chinese company with almost no garment manufacturing experience would become the world’s largest fast fashion retailer in less than two decades? Shein’s massive success is no accident and not just the result of a more innovative business model. The company’s exponential growth depends on the Chinese Communist Party … Read More
When President Biden assumed office two years ago, proponents of free trade hoped it would signal a break from President Trump’s protectionist stance. To the chagrin of many, Biden’s trade policy remains a mystery. Some analysts believe Biden is continuing the neo-protectionism of the Trump era, although with a bit more polish. But I believe … Read More
“There will be some cases where tariffs get passed on to American consumers, but that’s nowhere near the norm. Compare that to real consumer taxes, like the gasoline tax, which is 100% paid for by consumers,” Benoit said. Made-in-China producers mostly absorbed the brunt of that tariff. Benoit gave the example of the Buick Envision, … Read More
On the day the GDP data was published, the President of the United States scheduled an event with unions in Springfield, on the outskirts of Washington, in Virginia. There he made a presentation of economic protectionism and dismissed international complaints (among them European ones) of his protectionism: “To hell with that,” he said, later laughing. … Read More
The Coalition for a Prosperous America (CPA) today applauded bipartisan legislation introduced by U.S. Representatives Bill Posey (R-FL) and Dan Kildee (D-MI) that will repeal President Biden’s Solar Emergency Declaration issued last June. Under the Congressional Review Act (CRA), Congress can repeal rules enacted by the executive branch if they were enacted within 60 legislative … Read More
It is tempting to blame radical changes to US trade policy on former US president Donald Trump, whose protectionist views were strongly held and clearly stated. However, many observers have been surprised by the Biden administration’s continuation of many of Trump’s policies, albeit with different rhetoric. This culminated in the United States’ rejection last month … Read More
The US has imposed restrictive measures on several Chinese firms, preventing them from doing business with American entities, essentially in the critical high-tech sector. The bilateral relations, which dwindled during former President Donald Trump’s era, have seen little progress under the Biden administration despite highest-level contacts in Bali, Indonesia on the sidelines of the G20. … Read More
