The fact that unrestricted trade creates domestic unemployment is quite obvious, and should be especially obvious to Third World people who have had the historical experience of deindustrialisation during colonial rule. Yet, there is a general impression around that free trade is a good thing, and an utterly spurious argument is advanced to create this … Read More
The US Commerce Department will begin gathering information on Chinese production of legacy semiconductors — chips that aren’t cutting-edge but are still vital to the global economy — as it looks to track how deeply reliant US companies have become on the technology from China. Some Chinese chipmakers have used low prices to undercut competitors, … Read More
U.S. Trade Rep Katherine Tai defended tariffs against China at Semafor’s Made in America Event on Wednesday, saying that “tariffs are a part of the U.S.-China bilateral relationship” because of an “unfair” global economy. “There’s no such thing as pure free trade,” Tai said, adding that China’s own tariffs and economic policy have allowed Beijing … Read More
Lawmakers in both parties endorsed the proposal, a reflection of the growing willingness in Congress to build on the tariffs enacted during Donald Trump’s presidency, even if it risks retaliatory actions from China that would harm many farmers, ranchers and U.S. exporters. “It’s a strategy that of course involves tradeoffs, but I think a strategy … Read More
South Korea unveiled a 38 trillion won ($29 billion) financial package over the next five years aimed at helping local electric-vehicle battery makers diversify their supply chains as the US calls for a reduced reliance on China. President Biden is pushing carmakers to reduce their reliance on Chinese components and shape new supply chains with … Read More
Bipartisan lawmakers on Tuesday called for severing more of America’s economic and financial ties with China, including revoking the low tariff rates that the United States granted Beijing after it joined the World Trade Organization more than two decades ago. The most prevalent argument a decade ago was that economic interdependence between the United States … Read More
“The decisions you make on international economic policy impacts your domestic economy. We sit at that intersection between domestic economic policy and international and it is an uncomfortable intersection because these two forces are often pushing you in different directions, if not opposite directions. What we do internationally has to be connected to what objectives … Read More
This article suggests that Trump’s trade plan conjures up the ghosts of depressions past, even after the writer of the article admits that “The idea that Smoot Hawley caused the Great Depression has long since been debunked.” Does the writer not know or remember how the 25% tariffs on Chinese products were supposed to repeat … Read More
The tools were shipped to Germany, where some additional processing was performed on some of them, and then shipped to the U.S. and declared to be “made in Germany.” The press release notes that if the products had been correctly described as of Chinese origin they would have been subject to a 25 percent tariff. … Read More
“Picture a modern day Godzilla with the power to trample on and destroy anything that gets on his path,” he told the Wall Street Journal, adding that there are more than 100 countries where Chinese EVs are sold. “The only market where Chinese have not yet really begun a big assault is right here in the … Read More
