Domestic producers often pay double—or more—in federal taxes compared to large multinational competitors that have offshored production and shift profits to tax havens. Read the article.

Specifically, CPA proposes an additional 15% tariff increase on all imported goods from Free Trade Agreement (FTA) countries, and an additional 35% tariff increase on all imported goods from Non-Free Trade Agreement (NFTA) countries. For products that the United States cannot produce domestically, such as minerals, the CPA proposal calls for zero additional tariffs. Read … Read More

Speaking in Melbourne on Monday, Prime Minister Anthony Albanese urged more investment needed to be made to bring back onshore production and manufacturing, claiming it was a matter of economic protectionism Australia must adopt. Read the article.

“Why would you import something which can be produced in the country,” said a finance ministry official. Countering the recent criticism of rising protectionism, finance ministry officials on Thursday said that the government will increase the customs duty or keep it high on those items that can be domestically manufactured to meet the local demands. … Read More

China on Wednesday criticized a U.S. law to encourage processor chip production in the United States and reduce reliance on Asian suppliers as a threat to trade and an attack on Chinese business. The measure will “disrupt international trade and distort global semiconductor supply chains,” said a Foreign Ministry spokesperson, Wang Wenbin. “China firmly opposes … Read More

The U.S. has been moving toward protectionism under both President Joe Biden and his predecessor Donald Trump, who triggered a trade war both with traditional allies and antagonists such as China, says Jennifer Safavian, CEO of Autos Drive America, whose organization represents foreign automakers operating in the U.S. and advocates for free trade. Read the … Read More

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 made … Read More

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

“History has proved time and again that confrontation does not solve problems, it only invites catastrophic consequences. Protectionism and unilateralism can protect no one, they ultimately hurt the interests of others as well as one’s own. Read the article.

President Joe Biden’s administration dashed hopes for a softer approach to the World Trade Organization by pursuing a pair of his predecessor’s strategies that critics say risk undermining the international trading system. The U.S. delegation to the WTO, in a statement Monday obtained by Bloomberg, backed the Trump administration’s decision to label Hong Kong exports … Read More