But estimating just how much higher is hard to say. It’s possible that producers and importers will absorb some of the costs to keep prices down and stay more competitive. But he cautions that because the tariffs apply only to the product’s value at the border, and not to other costs like transportation and distribution … Read More

“Plus, the U.S. is not the singularly dominant power in trade that it once was and we could see the U.S. efforts create a level of isolation for the U.S. that is not anticipated or desired overall.” My Note: And the reason we are no longer the singularly dominant power is because we embraced globalization … Read More

Mexico will impose a 36.23% tariff on imports of steel wire used for welding from Vietnam, saying they are harming local producers in Latin America’s second-largest economy. The economy ministry alleged Vietnam was “dumping” steel wire in Mexico, meaning exporting it at below-cost prices. Read the article.

Chinese automakers captured their smallest share of Europe’s electric-vehicle market in eight months, after new tariffs added as much as 35% to the cost of importing cars to the region. The European Union imposed the added tariffs at the end of October, after an investigation found that state aid had provided China’s EV industry with … Read More

The CBO projects that even with the projected drop in imports, the proposed tariff policy would cut deficits by $2.7 trillion over the next decade. Furthermore, the CBO forecasts minimal effects on prices and GDP. According to their preliminary findings, the 10/60 tariff package would lead to only a one-time 1% increase in prices. Further, … Read More

The Coalition for a Prosperous America (CPA) today highlighted key findings from the Congressional Budget Office’s (CBO) preliminary report on tariffs, which confirms CPA’s analysis that tariffs can raise significant government revenue while benefiting U.S. industries. The CBO’s findings show that the proposed 10/60 tariff package—an additional 10% global tariff and a 60% tariff on … Read More

The Congressional Budget Office estimates sky-high tariffs promised by President-elect Trump might improve the nation’s fiscal outlook — but at the cost of higher inflation and slower economic growth than would otherwise be the case. The estimates assume other nations slap retaliatory tariffs of the same magnitude on U.S. exports. As for economic growth, the … Read More

Almost nothing is all good or all bad, yet we often feel a need to cast things as one or the other. This is lazy thinking. Tariffs might have potential benefits or serve certain purposes. This tax on goods can raise money for government that can go toward other programs or to paying down debt. … Read More

The Biden administration on Wednesday announced to increase tariffs on certain Chinese products, including solar cells and tungsten products. The rates for solar wafers and polysilicon will increase to 50 percent, and the rates for certain tungsten products will increase to 25 percent. These tariff increases will take effect on January 1, 2025, according to … Read More

The Coalition for a Prosperous America (CPA) today released a statement highlighting the harm caused by Mexico’s ongoing, blatant violation of the 2019 joint steel agreement. Earlier this month, Liberty Steel announced its decision to idle its wire plant in Peoria, Illinois after idling the steel mill rod mill operations there in October. Liberty Steel … Read More