“This victory was made possible by corn growers across the country who spoke out against these duties as they faced skyrocketing fertilizer prices and product shortages at the behest of The Mosaic Company,” said NCGA President Harold Wolle. “While the best duty on fertilizers is no duty at all, we are nonetheless thrilled that corn … Read More
For decades, the U.S. and other Western countries sought to make China both a partner and a customer in a single global economy led by the richest nations. Now trade and investment flows are settling into new patterns built around the two competing power centers. More than one-third of U.S. companies surveyed by the U.S. … Read More
The best example is that of the US, which is increasingly adopting protectionist measures that discriminate against foreign firms. This use of interventionist measures to strengthen national players by discriminating in their favour is often interpreted as a retreat from neoliberalism. Neoliberalism, in this view, is defined as an adherence to market fundamentalism, in which … Read More
“A global recession, the resurgence of nationalism, fears for the environment, the Covid crisis and growing geo-political tensions have resulted in the re-emergence of trade barriers and toxic international relations,” the book’s publisher said in a press release. “Fragmented, localised, fractured…globalisation, if not completely dead, is on life support.” Read the article.
Republican Senator J.D. Vance blamed a shortage of amoxicillin (a common treatment for ear infections) on free trade and has used it to issue calls for “reshoring.” Secretary of the Treasury Janet Yellen has endorsed protectionist policies in the name of “economic” and “national security.” Protectionism, they say, is necessary to shore up American supply … Read More
The justices turned away an appeal by Irving, Texas-based PrimeSource Building Products of a lower court’s decision to uphold a 25% tariff on some steel derivatives, such as nails and fasteners, put in place by Trump on national security grounds and now defended by President Joe Biden’s administration. PrimeSource, St. Louis-based Huttig Building Products and … Read More
“Because China has made everybody think that it is the place to go for intermediate goods, we shouldn’t ignore others—there are other smaller producers around the world which have near the same price and quality offered by China,” Virmani said, adding that till the time India moves deeper into the global supply chain, we can’t … Read More
No political group is doing more to save face these days than free trade advocates. According to the Merriam-Webster Dictionary, “save face” equates “to avoid having other people lose respect for oneself.” The Oxford English Dictionary defines “save face” as “retain respect; avoid humiliation.” Free traders today are busy trying to save face in the … Read More
Most of these solar modules are coming from Vietnam, Cambodia, and Malaysia—the same countries that the U.S. Department of Commerce determined last year are being used by Chinese solar manufacturers to illegally circumvent U.S. duties. Despite this, President Biden issued a rule that allows China to continue this illegal transshipment until June 2024—and even vetoed … Read More
What have we lost from leaving tariffs behind? Many thousands of manufacturing jobs—historically, the best-paid employment for Americans without college degrees. I’m unconvinced that having 5,000 different eyeglass frames to choose from, instead of 500, is worth sacrificing even one American job. Moreover, the ongoing impoverishment and immiseration of America’s working class—fueled both by off-shoring … Read More
