In the past, economists assessing the performance of industrial policies often focused on indicators such as import tariffs, capturing only limited dimensions of such measures and conflating their objectives with others. A new generation of research efforts takes a more productive approach – and reaches very different conclusions. Read the article.
U.S. President Joe Biden’s economic policies depart sharply from those of former President Donald Trump, but both share a commitment to limiting the risks of trade with China and an ambivalence toward market-driven globalization. Notably, Biden has kept Trump’s tariffs on Chinese imports. Biden’s policies favor cooperative arrangements to harmonize labor, environmental and industry standards, … Read More
The Biden administration is assessing the challenge posed by China’s rapid rise in electric vehicle manufacturing and export, an official from the Office of the U.S. Trade Representative said on Thursday, noting the issue is among those the agency is considering as it finalizes its mandated review of Section 301 duties on Chinese goods. China’s … Read More
“It takes a lot to turn that around, and it also takes a view that is beyond ‘this will be something the market sorts out’,” he said in an interview in Canberra on Wednesday. “We had that opinion that the market would sort things out, and then we ended up being dependent on concentrated supply … Read More
A group of U.S. mattress and bedding manufacturers and two labor groups have filed a petition alleging mattresses from 12 countries are being sold at below-market rates, while those from a 13th country are benefitting from government subsidies. The filing accuses exporters in Bosnia and Herzegovina, Bulgaria, Burma, India, Italy, Kosovo, Mexico, Philippines, Poland, Slovenia, … Read More
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
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
