House Republicans grilled U.S. Trade Representative Katherine Tai on Friday over the Biden administration’s decision not to negotiate new tariff-cutting agreements that would require approval by Congress, provoking the normally staid Cabinet member into her fieriest defense yet of the White House’s approach. “You have to appreciate that we live in a very different world. … Read More

“With respect to each individual partner and with respect to the U.S. economic situation, we have to make sure that our trade policies are tailored to the needs of our economy,” she told Senator Charles Grassley (R-IA) who pressed her on why ‘free trade’ was such a dirty word these days, and demanded more market … Read More

US Trade Representative Katherine Tai told lawmakers that some tariff-lowering agreements have made the US economy vulnerable, and the Biden administration wants to address the problem with a fresh approach to supply chains and commerce. Tai, appearing before the House Ways and Means Committee on Friday, said tariff cuts and rules to meet free-trade agreement … Read More

“China did not—as supporters of granting China MFN wrongly predicted—become more open, democratic, and free market-oriented. Instead, the CCP used autocratic state planning strategies, forced labor, intellectual property theft, and illegal trade activity to weaken the U.S. economy, absorb Hong Kong, threaten Taiwan, and become America’s biggest geopolitical threat,” said Michael Stumo, CEO of Coalition … Read More

New Zealand Prime Minister Chris Hipkins urged his nation’s exporters not to rely so heavily on China, saying it’s important for them to diversify in an uncertain world. China remains New Zealand’s largest trading partner, accounting for 28% of its exports in the year through February. Asked if New Zealand exports were diversified enough, Hipkins … Read More

The ideology of global free trade is not American—nor is it the free market system. America had the highest tariff rates in history at the same time we saw the greatest economic expansion in history. The American System had three basic tenets to promote domestic industry. The government would: use tariffs to discourage imports, and … Read More

An FTA with Taiwan would do little to deter China’s aggression, while undermining critical efforts to reduce U.S. dependence on Chinese supply chains and boost domestic production in critical industries. Taiwan already has a huge trade surplus with the U.S., which creates a serious vulnerability if China were to attack Taiwan. Read the article.

The U.S. International Trade Commission (USITC) analyzed the effects of Section 232 and Section 301 tariffs on more than $300 billion of U.S. imports. The USITC report found that the tariffs reduced imports from China, effectively stimulated more U.S. production of the tariffed goods, with very minor effects on prices. As a result, the US … Read More

In 2022, the share of imported Chinese goods as a percentage of total US imports fell to 16.6%, down from 21.6% in 2017.  At the same time, the value of US goods exported to China in 2022 as a percentage of total US exports fell to 7.3%, down from 8.4% in 2017. Tariffs initiated by … Read More

In a section of “additional views” attached to the report, he said that it paints an incomplete picture because it doesn’t describe or estimate the impact of China’s unfair trade practices for years that led Trump to impose the tariffs, poor results in getting Beijing to change its behavior prior to the duties, or the … Read More