Three Senate Democrats from auto manufacturing states on Thursday urged the Biden administration to hike import tariffs on Chinese electric vehicles to address national security risks, the latest push by lawmakers to protect the U.S. auto sector. “Allowing heavily subsidized Chinese vehicles to enter the U.S. marketplace would endanger American automotive manufacturing,” said the letter … Read More
Electric vehicles made in China must be registered with customs authorities in the European Union from Thursday as the bloc looks to apply retroactive tariffs from its ongoing probe into subsidies in the Chinese industry. The move, which was signalled in a document bearing the stamp of European Commission President Ursula von der Leyen published on Tuesday night, means … Read More
Marco Rubio, the top Republican on the Senate Intelligence Committee, said the legislation is aimed at preventing China “from flooding U.S. auto markets.” Senator Rubio is also proposing legislation to extend tariffs to vehicles produced by Chinese automakers in other countries. Read the article.
Over recent years, a notable shift has been observed in the global economic and cultural exchange trajectory, marking a departure from the rapid pace of globalisation towards what is increasingly termed ‘slowbalisation’ in economic literature. Slowbalisation is the perceived trend away from the rapid globalisation that characterised much of the late 20th and early 21st … Read More
The 2024 Trade Policy Agenda and 2023 Annual Report to Congress released by the office of US Trade Representative Katherine Tai, sought continued action against “harms wrought” by what it called Beijing’s “trade and economic abuses”. “We are also considering all existing tools – and will seek new ones as needed,” the report said, contending … Read More
The Protecting American Autoworkers from China Act would, increase the base tariff rate of auto imports from China to 100 percent, for a total tariff of 125 percent on all imported autos from China and apply the higher tariffs to all imported autos manufactured by Chinese automakers, irrespective of where the car is manufactured. “If … Read More
Former U.S. President Donald Trump would be able to implement a sweeping tariff on nearly all imported products upon taking office if he is elected again, former senior trade official Jamieson Greer told Nikkei, countering the argument that the president does not have the power to do so. Greer, now a partner at law firm … Read More
Two U.S. senators looking to crack down on the number of packages from China that enter the U.S. duty-free are calling on President Biden to take executive action, saying domestic manufacturers can’t compete with low-cost competitors that rely on forced labor and state subsidies in key sectors. U.S. trade law allows packages bound for American consumers and valued below … Read More
Mohamed Daoud Ghacham, 40, was sentenced and ordered him to pay nearly $6.4 million in restitution, according to the U.S. Attorney’s Office. Ghacham’s company, Ghacham Inc., which does business under the Platini brand name, imported clothing from China and submitted fraudulent invoices to U.S. Customs and Border Protection that undervalued the shipments, allowing the company … Read More
While foreign investment and the flow of ideas are important to stoking growth and innovation, there is a role for tariffs and subsidies on goods trade and production in order to ensure the US remains competitive, he said. Highlighting the impact to job prospects for workers who are high school graduates, Romer warned that their living standards … Read More
