The EU is furious that the U.S. is pouring subsidies into the homegrown electric car industry. Accusing Washington of protectionism, Europe is now threatening to draw up its own defenses. Unsurprisingly, French President Emmanuel Macron is leading the charge. “The Americans are buying American and pursuing a very aggressive strategy of state aid. The Chinese … Read More
The Office of the US Trade Representative is seeking public comments on “the effectiveness of the actions in achieving the objectives of the investigation, other actions that could be taken,” and the effects on the US economy and consumers, it said in a statement Wednesday. The USTR will open a public web portal for comments … Read More
She said Washington was working to reduce U.S. companies’ “extreme dependence” on semiconductors from Taiwan and other technologies, including solar panels or critical components for electric vehicle batteries made in China and a few other countries. “Friend-shoring is not meant to be a tiny handful of countries. It’s not meant to be protectionism. It’s something … Read More
‘Atmanirbhar Bharat’ or the policy of self-reliance is neither “isolationism” nor “protectionism” but is a recognition of the fact that India must raise its manufacturing share of GDP, Finance Minister Nirmala Sitharaman said here on Tuesday. It is a recognition of the fact that India must raise its manufacturing share of GDP for it generates … Read More
Writing for the Financial Times, columnist Rana Foroohar says the U.S. government is not “yet in the business of picking winners and losers,” but it is well beyond a post-neoliberal era. Furthermore, globalization has ended, and perhaps for the best. Read the article.
Supporting economic “patriotism” is now the working principle on both sides of the political divide in Washington. Robert Lighthizer, the former US trade representative under Donald Trump, is famous for getting rid of the US trade deficit. But recently, California Democratic Congressman Ro Khanna – a rising figure in progressive circles – called for the … Read More
Seoul’s concerns over rising U.S. tech protectionism extend beyond the Inflation Reduction Act (IRA). “Despite large-scale investment commitments, top South Korean businesses and Yoon administration officials are now voicing questions as to whether they could be able to trust the U.S. The controversy regarding the IRA illustrates the fact that Korean businesses and politicians feel … Read More
The US Commerce Department on Friday unveiled sweeping regulations that limit the sale of semiconductors and chip-making equipment to Chinese customers, striking at the foundation of the country’s efforts to build its own chip industry. The agency also added 31 organizations to its unverified list, including Yangtze Memory Technologies Co. and a subsidiary of leading chip equipment maker Naura Technology … Read More
For all of the conservative movements’ rightful paroxysms regarding open borders, it is perplexing why those who champion free markets wish to throw open the trade border to an avalanche of heavily subsidized foreign sugar from nations such as China, India, and Brazil, among others. Such a policy would surely spell the end for U.S. … Read More
House Ways and Means Chairman Richard Neal said Democrats should prioritize free-trade negotiations with Europe if they’re able to maintain their hold on Congress after the November midterm elections. This summer, Tai rebranded her predecessor’s bilateral negotiations with Nairobi as the US-Kenya Strategic Trade and Investment Partnership, which prioritizes technical cooperation on regulations rather than … Read More
