Who could imagine that a small order-fulfillment Chinese company with almost no garment manufacturing experience would become the world’s largest fast fashion retailer in less than two decades? Shein’s massive success is no accident and not just the result of a more innovative business model. The company’s exponential growth depends on the Chinese Communist Party … Read More
When President Biden assumed office two years ago, proponents of free trade hoped it would signal a break from President Trump’s protectionist stance. To the chagrin of many, Biden’s trade policy remains a mystery. Some analysts believe Biden is continuing the neo-protectionism of the Trump era, although with a bit more polish. But I believe … Read More
“There will be some cases where tariffs get passed on to American consumers, but that’s nowhere near the norm. Compare that to real consumer taxes, like the gasoline tax, which is 100% paid for by consumers,” Benoit said. Made-in-China producers mostly absorbed the brunt of that tariff. Benoit gave the example of the Buick Envision, … Read More
On the day the GDP data was published, the President of the United States scheduled an event with unions in Springfield, on the outskirts of Washington, in Virginia. There he made a presentation of economic protectionism and dismissed international complaints (among them European ones) of his protectionism: “To hell with that,” he said, later laughing. … Read More
The Coalition for a Prosperous America (CPA) today applauded bipartisan legislation introduced by U.S. Representatives Bill Posey (R-FL) and Dan Kildee (D-MI) that will repeal President Biden’s Solar Emergency Declaration issued last June. Under the Congressional Review Act (CRA), Congress can repeal rules enacted by the executive branch if they were enacted within 60 legislative … Read More
It is tempting to blame radical changes to US trade policy on former US president Donald Trump, whose protectionist views were strongly held and clearly stated. However, many observers have been surprised by the Biden administration’s continuation of many of Trump’s policies, albeit with different rhetoric. This culminated in the United States’ rejection last month … Read More
The US has imposed restrictive measures on several Chinese firms, preventing them from doing business with American entities, essentially in the critical high-tech sector. The bilateral relations, which dwindled during former President Donald Trump’s era, have seen little progress under the Biden administration despite highest-level contacts in Bali, Indonesia on the sidelines of the G20. … Read More
Complying with the ruling will be a windfall for China and other Asian auto parts manufacturers, increasing their North American sales by granting zero tariff treatment to large amounts of Chinese content. The decision facing the Biden administration is clear: the United States should reject the ruling, and continue granting zero tariff status in accordance … Read More
The Biden administration contacted U.S. energy companies ahead of this week’s North American summit to ask them how Mexico’s protectionist policies have impacted their business operations there, according to a document seen by Reuters. The State Department sent an email to U.S. energy companies last week asking them how many permits and applications they had … Read More
Mexico and Canada won a trade dispute with the US over cars shipped across regional borders, providing automakers more incentive to make vehicles in those nations. US Trade Representative Katherine Tai’s office called the ruling “disappointing.” Mexico and Canada argued USMCA stipulates that more regionally produced parts should count toward duty-free shipping than the US … Read More
