Canadian officials have expressed disquiet after the US nearly doubled the tariff on softwood lumber imports from Canada, raising it to 14.54%, a sharp increase from the previous rate of 8.05%. The increase in tariffs comes under the purview of the US Tariff Act, which allows the Department of Commerce to impose duties if it … Read More
Swedish electric-vehicle (EV) maker Polestar moved one step further in avoiding major tariffs imposed on Chinese-made cars on Wednesday when the automaker said it began production of its Polestar 3 SUV in the United States. Steep tariffs recently imposed by U.S. and Europe on cars made in China have prompted many automakers to speed up … Read More
The Biden Administration has more than doubled the volumes of solar cell imports that would be allowed to enter the United States tariff-free to help solar module producers relying on imported materials. Tariffs on solar cell imports were introduced by former President Donald Trump to protect small American solar-product makers from competition from cheaper materials … Read More
Aluminum imports into the U.S. have surged in recent years, with some product categories seeing a 380% increase since 2015. Many countries have already been found guilty of dumping aluminum into the U.S. at artificially low prices. The toll on aluminum industry jobs has already mounted to nearly 20,000 as well as many plant closures. … Read More
“Chinese companies continue to abuse U.S. trade laws,” said Republican Sen. Susan Collins of Maine, one of the bill’s co-sponsors, in a press release. “It is necessary that we tighten customs oversight of low-value imports entering the United States to combat these abuses of tariff-free entry procedures.” Read the article.
The positive trade momentum in July is bolstered by a range of factors, including growing overseas demand amid looming global interest rate cut cycle. The 2024 Paris Olympic Games have also partly helped to drive the global demands for “Made in China” commodities, ranging from sports equipment, souvenirs to other goods. Despite US-led blockade against … Read More
On Monday, the US Department of Commerce announced anti-dumping tariffs between 21.77 percent and 218.15 percent on more than a dozen Chinese companies for exports of glass wine bottles to the US. The preliminary ruling followed an anti-dumping investigation into glass wine bottles from China, Chile and Mexico, according to the China Trade Remedies Information … Read More
Steel and aluminum producers in Canada are urging Prime Minister Justin Trudeau’s government to swiftly impose new tariffs on Chinese products, saying metals from the Asian powerhouse are flooding the Canadian market and threatening local jobs. Catherine Cobden, president and chief executive officer of the Canadian Steel Producers Association, told a news conference in Ottawa … Read More
Excessive imports siphon demand for goods and services away from American producers and drive the government to run a budget deficit to cover that gap. This shortfall in demand in the U.S. produces a recession-like effect because it means that the dollars earned by Americans are not being re-spent into the U.S. economy to employ … Read More
Sharpie pen maker Newell Brands is moving some production of kitchen appliances out of China and has relocated manufacturing for its writing business to Tennessee as it faces “uncertainty” on tariffs ahead of the U.S. presidential election, Newell CEO Chris Peterson said. Peterson specified in the interview the supply-chain changes are not a response to … Read More
