Tesla CEO Elon Musk has urged for increased tariffs on Chinese electric vehicles (EVs) in order to protect the global car industry from the competitiveness of China’s EV market. Musk expressed his concern during Tesla’s fourth quarter earnings call, stating that Chinese car companies are the most competitive in the world and without trade barriers, … Read More
The proposed reduction is 94% less than what the import tax is now. The move is the latest turn of a catfish war dating back to just before the turn of the century. Brad Graham became a first-generation catfish farmer in 1997 when he says business was growing, but not long after imports of Vietnamese … Read More
Three Senate Democrats joined Sen. Marco Rubio (R-Fla.) to call for increased tariffs on imported Chinese solar panel components Tuesday. The senators cited a 2023 study indicating Chinese-made panels are as low as 15 cents per watt, less than half that of a panel produced in the U.S. “By 2026, China will have enough capacity … Read More
Really? The Trump-Biden tariffs have resulted in record-low unemployment, wages outpacing inflation, and plentiful jobs. Corporate profits reached a record high in the third quarter of 2022. The third quarter 2023 total was just shy of the record set in 2022. These higher profits allow American companies to adjust to higher borrowing costs and higher … Read More
Musk’s comments come after Warren Buffett-backed BYD – with its cheaper models and a more varied lineup -overtook Tesla as the world’s top-selling EV company last quarter, despite the U.S. automaker’s deep price cuts through 2023. Chinese car companies were the “most competitive” and “will have significant success outside of China, depending on what kind … Read More
If protectionism is anit-liberty, then so isn’t the U.S. Constitution, since it mentions “duties,” which is simply another word for tariffs – the blunt instrument tool of protectionism. More evidence that free traders are self-contradictory and bereft of integrity. Its amazing they can actually believe what they are pushing. Read the article.
US Congress urges the Biden administration to impose high tariffs to prevent China from flooding the country with mature process chips. US export control measures against China include restricting advanced process equipment to China and restrictions on producing chips below 7 nanometers. Read the article.
The UAW told the Office of the U.S. Trade Representative that at the time of ratification, the group did not believe the revised version of the North American Free Trade Agreement went far enough to rebalance automotive trade in the region. “The UAW is calling to specifically increase MFN [most favored nations] tariffs rates on … Read More
As detailed in an economic study released by Werner International in 2022, U.S. import prices for apparel from China have dropped 25 percent since 2019 and 50 percent since 2011. In other words, China has been dropping its prices to convince sourcing agents to remain loyal despite the risks, and in order to hold onto … Read More
“Manufacturers in the U.S. cannot afford this direct economic hit and need action to be taken as soon as possible. Passing MTB legislation will increase competitiveness, spur growth and support the success of manufacturers, farmers, businesses, workers, consumers and communities throughout the U.S., said the NAM. The previous MTB expired in December 2020, and since … Read More
