In a briefing in Brussels just hours before the two-day EU-US Trade and Technology Council (TTC) got underway in nearby Leuven, US trade representative Katherine Tai said that Beijing’s “non-market” policies will inflict severe economic and political damage on the two blocs, unless they are tackled through appropriate “countermeasures”. “I think what we see in … Read More
“The dirty little secret of international trade economics is that moderate tariff rates” don’t have huge price effects, Krugman said on Bloomberg Television’s Wall Street Week with David Westin before the CAP report came out. “To get really big (inflation) numbers, you have to get well beyond 10%,” he said. When inflation was rampant during … Read More
A majority of voters say they support slapping a 10 percent tariff on all imports, according to an exclusive new poll, in a boost to President Donald Trump’s plan for reducing U.S. reliance on foreign producers. According to the latest J.L. Partners/DailyMail.com 2024 poll, 24 percent of likely voters strongly support the policy proposal while … Read More
Speaking to reporters after the event, Yellen declined to say whether the Biden administration was prepared to threaten Beijing with retaliatory trade actions if China doesn’t reduce its subsidies. “It’s important for the Chinese to understand why we have a concern,” she said. “But I don’t want to get to retaliation. We want to see what … Read More
More Americans trust former President Trump’s approach to trade than President Biden’s but are split on their approach to tariffs on China, according to a new survey. The YouGov poll, released Friday, found 42 percent of Americans somewhat approve of Trump’s approach to foreign trade, 11 percent higher than Biden’s 31 percent. At the same time, … Read More
For those who roam within credentialed economic circles and discuss markets with hedge fund managers at the Harvard Club, tariffs are sacrilegious. Speak kindly of them and you’re a free market heretic. It’s practically un-American. Sadly for them, tariffs that began in 2018 have not destroyed the U.S. economy. The stock market did not crash. … Read More
A bipartisan group of U.S. lawmakers on Wednesday asked the Biden administration to impose higher tariffs on Chinese drones, including those shipped from other countries and new incentives to boost U.S. drone manufacturers. Representative Mike Gallagher, chair of the House China committee, the panel’s top Democrat Raja Krishnamoorthi and 11 other lawmakers urged the administration … Read More
Note: The U.S. isn’t one of them. Most are emerging markets and developing countries, which have experienced significant trade growth. In 2020, the global merchandise trade in developing economies soared from 39% in 2000 to 47% in 2019. Read the article.
“Those big monster car manufacturing plants you are building in Mexico right now and you think you are going to get that — not hire Americans and you’re going to sell the car to us, no,” Trump said. “We are going to put a 100% tariff on every car that comes across the lot.” Read … Read More
Former President Donald Trump is sticking by his plan to raise tariffs on all Chinese exports to the U.S. and said he isn’t worried about retaliatory levies from Beijing. Mr. Trump said Monday that China was “petrified” of tariffs he imposed during his term, giving the U.S. leverage in the trade relationship. “China is right now our boss, they are the boss … Read More
