The United States-Mexico-Canada (USMCA) Free Trade Agreement is fast becoming a free trade agreement for the world, whereas any multinational with a presence in Mexico can set up shop and make the U.S. its number one target. China is doing that now. The auto sector is top of mind for the Chinese. They know that … Read More
Aluminum cast or smelt in China, Russia, Iran or Belarus that arrives via Mexico will face a 10% tariff, she said. The measures take effect Wednesday. The moves, made jointly with Mexican President Andres Manuel Lopez Obrador, follow a broader announcement on tariffs targeting China. The White House is looking to head off what it … Read More
Protectionism against low-cost Chinese imports has so far been a Western phenomenon, with Asia largely a bystander. This is about to change. Among emerging market economies, Turkey imposed a 40% additional tariff on imports of vehicles from China, while Brazil has reinstated import taxes on EVs this year. By contrast, Asia has not erected as … Read More
Indonesia will soon impose import tariffs of up to a 200% on Chinese goods “to mitigate the effects of the ongoing trade war between China and the United States,” according to a report by the state news agency Antara, which quoted Trade Minister Zulkifli Hasan as saying there was an oversupply of Chinese products because … Read More
Kimberly Clausing, UCLA School of Law economist and professor, and Clete Willems, former Trump National Economic Council deputy director, join ‘Squawk Box’ to discuss how likely Trump’s tariff strategies will come to fruition if elected, why some economists aren’t in favor of tariffs, and much more. Read the article.
Nearly half of top congressional staffers say their boss supports the Biden administration slapping tariffs on electric vehicles, solar panels, medical supplies, semiconductor chips and other products made in China. The findings are part of our most recent survey of top congressional staffers, The Canvass Capitol Hill. Notably, most Republicans (53%) who responded sided with … Read More
A 10 percent tariff would raise revenues by $311 billion, and a 60 percent tariff on China would raise about $213 billion. Obviously not enough to eliminate all income taxes. No serious person believes record inflation during the Covid-years was due to tariffs. If so, how do you explain inflation falling even as Biden extended … Read More
US imports of Chinese language golf carts and different leisure buggies have elevated sixfold since 2020, partly as a result of they’re shipped underneath a product classification the place the tariff is decrease than these coded as normal-sized EVs. The Chinese language carts typically keep away from greater levies by crossing the border on the … Read More
To complicate things further, some security experts have warned that Chinese-made vehicles could be used as surveillance tools, or as a source of mass disruption in a crisis. “The car could be switched off by the manufacturer,” says Richard Dearlove, former head of the British intelligence agency MI6. “How many cars would it take to block circulation … Read More
Volvo, the Swedish luxury brand owned by China’s Geely, started building the EX30 in China, and said last year it would expand production of the small electric SUV to a plant in Belgium beginning 2025. Volvo had previously said it would begin selling the EX30 in the United States later this year, but a spokesperson … Read More
