Shifting manufacturing to China, as globalized free trade has encouraged, increases global emissions because plants in China use dirtier fuel sources than factories in the West use. Coal, the dirtiest fossil fuel, provides 60 percent of Chinese total electricity generation, compared with less than 22 percent in the United States. Every washing machine or toy … Read More
The legal and regulatory risk of doing business in China may be about to get a lot higher. The China Securities Regulatory Commission is implementing changes to its rules governing publicly offered securities investment funds. These rules include requiring foreign-owned fund managers such as BlackRock and Fidelity to create Communist Party cells when operating in … Read More
Politico reported a possible token cut of $10 billion, out of $370 billion—and added the confounding assertion that the administration is also considering a full-scale investigation of China’s massive export subsidies under Section 301 of the 1974 Trade Act, which could lead to more tariffs. It would make no sense to both do that investigation … Read More
After the U.S. increased tariffs from 10% to 25% in 2019, one survey found that support for open trade fell sharply, from an average of 6.5 out of 10 to 4.3 out of 10. A score under 5 means that free trade isn’t favorable. Read the article.
Turkey announced anti-dumping levies on flat steel imports, saying that shipments from European and South Korean companies were hurting domestic producers. Levies on imports will range from 7% to 12.8% of the purchase price, according to a Trade Ministry decree published in the nation’s official gazette. Read the article.
President Biden is considering gutting Section 301 tariffs on China that were put in place by President Trump. These tariffs were imposed after a U.S. government investigation confirmed that China continues to use illegal and unfair trade practices that are directly harming American workers and U.S. manufacturers. Read the article.
Among all countries, China has been most affected by the United States’ shift toward protectionism in recent years, and this in turn has resulted in Chinese citizens being less supportive of open trade, according to a new study by the Peterson Institute of International Economics (PIIE). Read the article.
Then we have “free trade.” The neoliberals made it a top priority to make it as easy as possible to bring in cheap manufactured goods from developing countries. This cost millions of manufacturing jobs, and put downward pressure on the pay of non-college educated workers more generally. Read the article.
“We have to play both defense and offense. Frankly, when I look at tariffs, I see them mostly as defense,” Tai said in a response to a question by Senator Jeanne Shaheen (D-NH). “Defense is not going to be enough. We need offense. Read the article.
“The China tariffs are, in my view, a significant piece of leverage, and a trade negotiator never walks away from leverage,” US Trade Representative Katherine Tai said at a Senate hearing on Wednesday. Read the article.
