US exports to Russia have dropped about 88% by value this last year, while shipments from other countries have retreated about 60%, Commerce Under Secretary Alan Estevez said in testimony before the House Foreign Affairs Committee Tuesday. Read the article.
It was one of the very first international auto brands to enter China, widely recognized by consumers and understood by its owners to have huge potential. And yet, Jeep is shutting down its only plant in the world’s largest market. The golden age of brisk growth and abundant profits for these various joint ventures appears … Read More
Shifting manufacturing to China, as globalized free trade has encouraged, increases global emissions because plants in China use dirtier fuel sources than factories in the West use. Coal, the dirtiest fossil fuel, provides 60 percent of Chinese total electricity generation, compared with less than 22 percent in the United States. Every washing machine or toy made … Read More
Shifting manufacturing to China, as globalized free trade has encouraged, increases global emissions because plants in China use dirtier fuel sources than factories in the West use. Coal, the dirtiest fossil fuel, provides 60 percent of Chinese total electricity generation, compared with less than 22 percent in the United States. Every washing machine or toy … Read More
The legal and regulatory risk of doing business in China may be about to get a lot higher. The China Securities Regulatory Commission is implementing changes to its rules governing publicly offered securities investment funds. These rules include requiring foreign-owned fund managers such as BlackRock and Fidelity to create Communist Party cells when operating in … Read More
Politico reported a possible token cut of $10 billion, out of $370 billion—and added the confounding assertion that the administration is also considering a full-scale investigation of China’s massive export subsidies under Section 301 of the 1974 Trade Act, which could lead to more tariffs. It would make no sense to both do that investigation … Read More
After the U.S. increased tariffs from 10% to 25% in 2019, one survey found that support for open trade fell sharply, from an average of 6.5 out of 10 to 4.3 out of 10. A score under 5 means that free trade isn’t favorable. Read the article.
Turkey announced anti-dumping levies on flat steel imports, saying that shipments from European and South Korean companies were hurting domestic producers. Levies on imports will range from 7% to 12.8% of the purchase price, according to a Trade Ministry decree published in the nation’s official gazette. Read the article.
President Biden is considering gutting Section 301 tariffs on China that were put in place by President Trump. These tariffs were imposed after a U.S. government investigation confirmed that China continues to use illegal and unfair trade practices that are directly harming American workers and U.S. manufacturers. Read the article.
Among all countries, China has been most affected by the United States’ shift toward protectionism in recent years, and this in turn has resulted in Chinese citizens being less supportive of open trade, according to a new study by the Peterson Institute of International Economics (PIIE). Read the article.
