The drop is explained by lower goods exports and smaller inventories, authorities said. While the data wasn’t as bad as the 1.5% contraction indicated by a preliminary release published in July, it indicates “the Swedish export motor is in trouble,” Michael Grahn, chief economist at Danske Bank A/S, said. Read the article.
Clinton and Obama thought globalization inevitable and bought into the textbook view that trade benefits all parties. “Globalization is not something we can hold off or turn off,” Clinton explained in 2000. “It is the economic equivalent of a force of nature, like wind or water.” Read the article.
The USTR said available evidence suggested that a significant portion of the timber Vietnam imports has been harvested or traded in violation of Vietnam’s domestic laws, the laws of exporting countries, or international rules. Vietnam is one of the world’s largest exporters of wood products, with more than $3.7 billion worth of wood furniture shipped to … Read More
Biden has maintained much of Trump’s hardline policies toward Beijing; the Trump tariffs have remained in place. Restrictions on Chinese technology companies have expanded, including a U.S. ban on sales of advanced semiconductors and chip-making equipment to China. The Biden focus is on U.S. workers and manufacturing in the U.S., not abroad. Read the article.
President Biden is making it clear that the United States’ rejection of full-throttle globalization during the Trump administration was no aberration, as he continues a remarkable break with decades of trade policy that spanned both Republican and Democratic administrations. Blending a tough-on-China stance with lavish federal subsidies for favored industries, the president is reshaping the … Read More
Trade policy is a complete framework of relevant rules, regulations, stances and deals that need a supportive tariff policy. The objectives and goals of the tariff policy are clearly defined and justified to a large extent. Having no written tariff policy for the last five decades was a drawback in the country’s trade policy regime, which … Read More
U.S. imports of animal and vegetable oils and fats from China totaled nearly $290 million in the first six months of 2023, soaring from around $1 million in all of 2022, as U.S. renewable diesel makers increasingly turn to Chinese feedstocks to capitalize on green subsidies. Read the article.
Steel tariffs on South Korean products would be raised to 25pc from the current 10pc, Motie said. The economy ministry listed higher tariffs for 392 products from countries with which Mexico has no trade agreements. More than 200 of the products are steel and aluminum, in addition to chemical products and household items. “Export volumes … Read More
“I think when companies come in and they dump their products in the United States, they should pay automatically, let’s say a 10% tax,” he told Fox News on Thursday. “That money would be used to pay off the debt. It’s a massive amount of money.” The former president also proposed what he called a … Read More
In Canada, lumber-producing provinces set so-called stumpage fees for timber harvested from Crown land, a system that U.S. producers — forced to pay market rates — say amounts to an unfair subsidy. The latest administrative review by the U.S. Commerce Department resulted in a modest decrease in the so-called “all others” combined duty rate, but … Read More
