FREE TRADE NOSTALGIA IN CONGRESS: A number of free trade stalwarts are stepping down as this session comes to a close, from Sens. Pat Toomey (R-Pa.) and Rob Portman (R-Ohio) — himself a former U.S. Trade Representative — in the Senate, to former House Ways and Means Chair Kevin Brady (R-Texas) and moderate Democrat Rep. … Read More
After reshoring and onshoring, friend-shoring is the latest wheeze of the Biden Administration; in practice, it’s a de facto and defunct American protectionist approach, which is launched under the veil of the new symbolism with support of the controversial legislation to steal away major allies’ high-tech production facilities and quality jobs. Cracking the tail end … Read More
Key assumptions of the theory and the econometric models used to calculate the impacts of trade are questionable. For example, the standard Global Trade Analysis Project econometric model assumes perfect competition with no single producer having any measurable impact on market prices or costs. But that certainly isn’t true in such cases as Boeing and … Read More
Chinese experts said the US’ selfish and arrogant attitude is further proof that the Biden administration has not abandoned the “America First” policy and is pursuing unilateralism and protectionism, which has seriously disrupted the functioning of the global trading system. They called on other countries to pay attention to the US’ destructive attempts and put … Read More
If there were any hope President Joe Biden would undo his predecessor’s divisive trade tariffs that caused upheaval in the global steel and aluminum markets, it all but evaporated Friday. The US Trade Representative issued a strong rebuke of the World Trade Organization’s decision that former President Donald Trump’s 25% tariffs on steel imports and … Read More
Solar companies will always find it easier to manufacture in Asia. Better trade policies and regulations are the only things that will make “green energy” local energy. If not, China becomes America’s single source of solar, a veritable Green OPEC. Read the article.
The US and European Union are weighing new tariffs on Chinese steel and aluminum as part of a bid to fight carbon emissions and global overcapacity, according to people familiar with the matter. The move would mark a novel approach, as the US and EU would seek to use tariffs — usually employed in trade … Read More
Longi Green Energy Technology Co., the world’s largest solar company, said that the US Commerce Department’s initial findings on Chinese companies circumventing tariffs will not affect the company’s operations nor will it change its plans for the American market. “No matter what the final result is, it will not affect the company’s medium and long-term … Read More
Wheatland Tube, a steel conduit manufacturer, is closing its Long Beach, California factory and laying off 145 workers. The company cited surging Mexican steel conduit imports as the reason for the plant closure. Given this surge, CPA is urging the Biden administration to use its authority under Section 232 to re-impose the 25 percent tariff … Read More
Jeff Ferry: I agree that there is always a danger of special interests taking over government policy on an industry. But consider this: In 2018, we had steel tariffs imposed, and steel prices rose briefly. But later in 2018, steel prices began to fall and in 2019 they were below the pre-tariff levels. What happened … Read More
