The growth of a protectionist mindset and policy south of the border is front of mind for Perrin Beatty, president and CEO of the Canadian Chamber of Commerce, as the U.S. braces for midterm elections in early November. Beatty said on Friday, from the Global Business Forum in Banff, that the shift from an open … Read More
“Our policy is devoid of any selfishness, we hope that other participants in economic cooperation will build a policy on the same principles, stop using the tools of protectionism, illegal sanctions and economic selfishness for their own purposes,” Putin said at an expanded meeting of the council of heads of states of the Shanghai Cooperation … Read More
We’ve known for decades that countries like Japan and Korea manage their economies to export, preferably to the U.S., and control their own imports tightly to make it very hard for the U.S. to increase its exports. The problem is not static; it’s actually getting worse. Countries like Vietnam, Malaysia, and Thailand have learned by … Read More
Located in a prime spot between Mexico’s industrial capital and the US border, Hofusan has become a haven for Chinese manufacturers looking to sidestep US tariffs and shorten supply chains that have been strained to a breaking point during the pandemic. The 11 plants and warehouses on the 850-hectare (2,100-acre) estate are part of the … Read More
Germany’s economy minister said on Tuesday the government was working on a new trade policy with China to reduce dependence on Chinese raw materials, batteries and semiconductors, promising “no more naivety” in trade dealings with Beijing. Read the article.
The Biden administration plans to broaden curbs on U.S shipments to China of semiconductors used for artificial intelligence and chipmaking tools. The Commerce Department intends to publish new regulations based on restrictions communicated in letters earlier this year to three U.S. companies — KLA Corp, Lam Research Corp, and Applied Materials Inc. Read the article.
South Korea is considered a strong ally of the U.S. But it must be pointed out, despite writing rules into the U.S.-Korea free trade agreement meant to help our domestically-made vehicles enjoy success in the Korean market, that never really happened. They’ve always sent us ten vehicles for every one we send them. Read the … Read More
“…it took the economic shocks of the 1830s and 1840s to weaken his attachment to laissez-faire and convert him to protective tariffs. As the owner of a paper mill and coal mine, Carey had firsthand experience of the devastating impact of the Panic of 1837 on commerce. From 1848 onwards, Carey started to argue that … Read More
In the aluminum industry, closing a smelter is an agonizing decision. Once power is cut and the production “pots” settle back to room temperature, it can take many months and tens of millions of dollars to bring them back online. “History has proven, once aluminum smelters go away, they don’t come back,” said Mark Hansen, … Read More
Over the last eight years, Prime Minister Narendra Modi has increased 3,000 tariffs, hitting 70 percent of the country’s imports. Tariffs are front and center in Modi’s drive to make India more economically “self-sufficient.” They also add central budget revenue. But even against this backdrop, the new solar tariffs are striking. Read the article.
