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
“America’s manufacturers came together during COVID to rapidly and successfully ramp up production of healthcare equipment,” said CPA Chair Zach Mottl. “However, many of the Section 301 China tariffs were also waived at the same time, undercutting incentives to invest in domestic production. Now that the emergency declared under the Public Health Service Act is expiring, there’s … Read More
Sen. Daniel Sparks believes that the opinion was wrong, and that it is necessary to clarify the law through this bill. Opponents of the bill, like England and Sen. Joey Fillingane, R-Sumrall, say it is “protectionism” – with the legislature interfering in the free market to lessen the impacts of an emerging industry on existing businesses. … Read More
Of the dozen young conservative voters Reason interviewed at the Conservative Political Action Conference (CPAC), a significant majority voiced waning support for free market values, instead favoring regulation, protectionism…and globalism. Read the article.
The expanding trade conflict between the US and China is spurring a rethink of the electronics industry’s decades-old supply structures. The world’s reliance on the Asian nation became starkly clear during the Covid Zero years, when Beijing’s restrictions choked off the supply of everything from phones to cars. Read the article.
US Trade Representative Katherine Tai said that she frequently finds herself fighting against the idea that the US is seeking to “decouple,” or “completely divorce” its economy from China’s, something that would be “extremely difficult” given the realities of connection. Rather, the US needs to find a way to co-exist and compete fairly with China … Read More
Donald Trump and Joe Biden endorse protectionism, while globalization was once promoted as virtuous and irreversible by previous US presidents. The global political economy has transformed drastically. China has emerged as the United States’ principal opponent, with a larger share of the global economy (18.58% in 2022) than the United States. To counter China’s high-tech … Read More
Volkswagen AG reaffirmed its commitment to an automotive plant in Xinjiang after a visit by its China chief, despite persistent concerns of human rights abuses in the country’s far western region. The German carmaker said it has no indication that workers are mistreated at the facility in the city of Urumqi, which is operated by … Read More
