Without changes to the EV rules, “U.S. allies and partners will lose confidence in an administration which has highly valued multilateralism and partnership,” wrote the Korea International Trade Association, adding that the provisions could “trigger protectionism worldwide.” Read the article.
Prime Minister Justin Trudeau’s top diplomat called China an “increasingly disruptive global power” and warned that Canadians need to be “clear-eyed” about conducting business with the Asian giant. Earlier this year, Trudeau’s government joined its closest intelligence allies in banning Huawei Technologies Co. from fifth-generation wireless networks. And last week, Canada ordered Chinese investors to … Read More
The government, pursuing an extreme protectionist approach, has slapped up to 500% more taxes on imported cars to cushion the local car industry from overseas competition. Protectionism refers to the government’s economic policies that limit international trade to facilitate domestic industries from getting thrown out of business because of cheap imports. Read the article.
Sometimes you do, in fact, have to hand it to them. Last week the Biden administration imposed aggressive trade restrictions designed to prevent sharing next-generation microchip technology with China. The Department of Commerce announced the new export controls and de facto potential sanctions for China’s advanced semiconductor industry on October 7. The consequences for the … Read More
The EU is furious that the U.S. is pouring subsidies into the homegrown electric car industry. Accusing Washington of protectionism, Europe is now threatening to draw up its own defenses. Unsurprisingly, French President Emmanuel Macron is leading the charge. “The Americans are buying American and pursuing a very aggressive strategy of state aid. The Chinese … Read More
The Office of the US Trade Representative is seeking public comments on “the effectiveness of the actions in achieving the objectives of the investigation, other actions that could be taken,” and the effects on the US economy and consumers, it said in a statement Wednesday. The USTR will open a public web portal for comments … Read More
She said Washington was working to reduce U.S. companies’ “extreme dependence” on semiconductors from Taiwan and other technologies, including solar panels or critical components for electric vehicle batteries made in China and a few other countries. “Friend-shoring is not meant to be a tiny handful of countries. It’s not meant to be protectionism. It’s something … Read More
‘Atmanirbhar Bharat’ or the policy of self-reliance is neither “isolationism” nor “protectionism” but is a recognition of the fact that India must raise its manufacturing share of GDP, Finance Minister Nirmala Sitharaman said here on Tuesday. It is a recognition of the fact that India must raise its manufacturing share of GDP for it generates … Read More
Writing for the Financial Times, columnist Rana Foroohar says the U.S. government is not “yet in the business of picking winners and losers,” but it is well beyond a post-neoliberal era. Furthermore, globalization has ended, and perhaps for the best. Read the article.
Supporting economic “patriotism” is now the working principle on both sides of the political divide in Washington. Robert Lighthizer, the former US trade representative under Donald Trump, is famous for getting rid of the US trade deficit. But recently, California Democratic Congressman Ro Khanna – a rising figure in progressive circles – called for the … Read More
