“A few years ago, it was difficult to imagine China not rapidly overtaking the US as the world’s biggest economy,” said Tom Orlik, chief economist for Bloomberg Economics. “Now, that geopolitical moment will almost certainly be delayed, and it’s possible to imagine scenarios where it doesn’t happen at all.” Read the article.
“I propose doing this clearly and phasing it in over time to minimize disruptions and allow for businesses to change their current practices,” Lighthizer wrote in his new book, released June 27. The U.S. needs a new trade model. Or risk having its industrial base consistently usurped by Asia, primarily, where labor is cheaper, the … Read More
The Section 301 tariffs imposed in 2018 on Chinese imports reduced U.S. dependence on China. While U.S. imports surged by 39% between 2017 and 2022, China imports were up very slightly, and still below their 2018 peak. As a result, China fell from 21.6% of U.S. imports in 2017 to just 16.5% in 2022. Read … Read More
Former U.S. Trade Representative Robert Lighthizer, in his new book “No Trade is Free,” includes a raft of observations about foreign trading partners and counterparts he dealt with during his term. After the USTR told Modi India was “the most protectionist country in the world,” the prime minister “came up to me to shake hands” … Read More
The US is considering to end current tariff exemptions for packages valued under $800, which is seen as a move to crack down on the large amount of goods imported from China in duty-free packages. Chinese e-commerce exporters said that they are ready to face challenges brought about by the potential US move, while stressing … Read More
Inflation wasn’t pushed higher by China tariffs imposed in 2018. It was caused by record-breaking government spending during the pandemic, and supply chain snafus. The supply chain woes that began in 2020 because of the pandemic and America’s over-reliance on China for everything from Tylenol to those ubiquitous Covid-era face masks caused prices to spike. … Read More
During the Covid-19 pandemic, many countries restricted exports of medical goods like vaccines and foodstuffs. More recently, Russia’s war in Ukraine and competition between the US and its allies with China has fomented further protectionism. Trade restrictions, such as tariffs and export bans, have also proliferated in sectors including commodities and semiconductors, which are often … Read More
When efficiency and low cost are the only motivators, production moves outside our borders. It becomes increasingly consolidated in one economy—such as China — which manipulates cost structures, controls key industries, and became a dominant supplier for many important goods and technologies.” – Katherine Tai, June 2023, National Press Club, Washington DC. Read the article.
Last year, the EU announced that it would demand importers refuse any food products treated with neonicotinoid insecticides, despite the fact that EU member countries still have emergency derogations for these chemicals. American farmers use these chemicals to prevent major crop losses through crop-eating insects. Read the article.
Strangling the business operations of one of America’s most successful companies, a company that employs 190,000 people and has a market value of over $1.5 trillion, is a direct economic attack on the U.S. Washington should not tolerate this blatant economic attack on American interests. Read the article.
