Industry data from U.S. domestic steel manufacturers also shows that Mexican steel producers are deliberately pricing more than 25% less than American-made products. For example, wire rod from Mexico was priced at 32 cents per pound Free on Board (FOB) mill in May 2023 compared to 55 cents per pound FOB mill for U.S. wire … Read More
China has imposed a series of official and unofficial trade barriers in recent years against Australian exports including coal, wine, barley, beef, seafood and wood. The barriers are widely seen as a punitive reaction to Australian government policy that has cost Australian exporters as much as $15 billion a year. Read the article.
A January 2023 CPA Economics Team report said, “U.S. pharmaceutical imports have skyrocketed in the last ten years, with imports from China, India and Mexico leading the surge. India and China are increasingly the leading U.S. source for generic pharmaceuticals, which account for 90% of all prescriptions written in the U.S.” Additionally, “Growing U.S. dependence … Read More
Manufacturing jobs continue to be “good jobs” because they tend to pay well, offer benefits like health insurance, and generally involve steady work at 40 hours a week, with opportunities for overtime. Also, manufacturing has traditionally been a route to a middle-class lifestyle for those without a four-year college degree. Over 60% of U.S. adults … Read More
“The amount of money that China is pouring into subsidizing what will be an excess capacity of mature chips and legacy chips, that’s a problem that we need to be thinking about and working with our allies to get ahead of,” Raimondo said Wednesday at a panel hosted by the American Enterprise Institute. The United … Read More
Historically, countries have resorted to policies including high tariffs and state subsidies for domestic firms to bolster their industrial capacities when great power rivalry deepens. This trend is reinventing itself in numerous sectors, from chips to rare earths, and is likely to continue. As early as the 19th century, German-American economist Friedrich List claimed that Germany … Read More
It is simply untrue that a hike in aluminum tariffs will result in a price hike, as a hike in steel tariffs ultimately resulted in lower steel prices. But, according to the article: The Commerce Department and the International Trade Commission are considering a petition that would impose tariffs of up to 300 percent on … Read More
Yellen says lifting China tariffs premature. “‘The tariffs were put in place because we had concern with unfair trade practices on China’s side — and our concerns with those practices remains,’ she said. ‘So perhaps over time this is an area where we could make progress, but I would say it’s premature to use this as … Read More
“Granting China MFN status was a mistake, and we applaud Congressman Banks and Senator Hawley for introducing legislation to remedy it,” said CPA Chairman Zach Mottl. “Supporters of granting China MFN status wrongly predicted that the CCP would become more open, democratic, and free market oriented.” Read the article.
Another free trader who think the views of Adam Smith should direct trade policy for the U.S. He refuses to acknowledge that when George Washington signed the Tariff Act of 1789, it imposed a tariff of 5 percent on the majority of dutiable imports for “the encouragement and protection of manufacturing in America.” Read the … Read More
