The government has finally prepared a national tariff policy to boost trade competitiveness and enhance consumer welfare. Titled ‘National Tariff Policy 2023’, it is the first-ever tariff policy of the country, which is expected to remove the anomalies in the existing tariff structure and highlight the country’s trade-related priorities. The policy has also set a … Read More
Illegal dumping of foreign-made tin mill products — when a company or country exports these products at a price lower than the price charged in its home market — has cost thousands of workers their jobs over the past few years. And it’s rapidly wiping out the rest of an industry crucial to the nation’s … Read More
“China expressed serious concerns concerning the U.S.’ discriminatory (Section) 301 tariffs,” she added. “China demands the U.S. give equal treatment to Chinese enterprises investing in the U.S. in terms of market access, regulatory enforcement, public procurement and policy support,” Shu Jueting, a commerce ministry spokesperson, said. Read the article.
Let’s assume that the tariffs are on products that are also made in America. The tariff raises the price of the foreign product to the benefit of the U.S.-made product. This would encourage more purchases of the U.S.-made product and thus increase production and employment here in the U.S. — the total opposite effect that … Read More
The drop is explained by lower goods exports and smaller inventories, authorities said. While the data wasn’t as bad as the 1.5% contraction indicated by a preliminary release published in July, it indicates “the Swedish export motor is in trouble,” Michael Grahn, chief economist at Danske Bank A/S, said. Read the article.
Clinton and Obama thought globalization inevitable and bought into the textbook view that trade benefits all parties. “Globalization is not something we can hold off or turn off,” Clinton explained in 2000. “It is the economic equivalent of a force of nature, like wind or water.” Read the article.
The USTR said available evidence suggested that a significant portion of the timber Vietnam imports has been harvested or traded in violation of Vietnam’s domestic laws, the laws of exporting countries, or international rules. Vietnam is one of the world’s largest exporters of wood products, with more than $3.7 billion worth of wood furniture shipped to … Read More
Biden has maintained much of Trump’s hardline policies toward Beijing; the Trump tariffs have remained in place. Restrictions on Chinese technology companies have expanded, including a U.S. ban on sales of advanced semiconductors and chip-making equipment to China. The Biden focus is on U.S. workers and manufacturing in the U.S., not abroad. Read the article.
Trade policy is a complete framework of relevant rules, regulations, stances and deals that need a supportive tariff policy. The objectives and goals of the tariff policy are clearly defined and justified to a large extent. Having no written tariff policy for the last five decades was a drawback in the country’s trade policy regime, which … Read More
U.S. imports of animal and vegetable oils and fats from China totaled nearly $290 million in the first six months of 2023, soaring from around $1 million in all of 2022, as U.S. renewable diesel makers increasingly turn to Chinese feedstocks to capitalize on green subsidies. Read the article.
