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
Former US president Donald Trump’s administration slapped extra tariffs on Spain’s iconic agricultural export in 2018, considering their olives were subsidised and being dumped on the US market at prices below their real value. The WTO urged Washington to “bring its measures into conformity with its obligations” under international trade law. Read the article.
Nations rise when they have pioneering entrepreneurs. And when those entrepreneurs become dominant, they demand concessions from governments, and in the process “tax” the citizens, for providing services which are critical and catalytic. I have called that “conglomerate tax”, a tax citizens pay to some of the leading companies in the world to serve them! … Read More
Cleveland-Cliffs is idling its tinplate plant in Weirton, WV, impacting roughly 900 workers, after a U.S. trade agency struck down dumping duties on food can steel imports. The ITC’s decision makes “it impossible for us to viably produce tinplate,” Cleveland-Cliffs CEO Lourenco Goncalves said on Thursday. “The current market for tin mill products has already … Read More
The tariffs are a tool in a diverse economic toolkit that is being used to shore up the middle class, Trade Representative Katherine Tai said Monday during a talk at the Council on Foreign Relations think tank in Washington, D.C. Asked about the politicization of the issue, as well as some researchers’ claim the tariff … Read More
Tariffs of up to 270% will be levied on imports of Chinese pea protein to counteract the “dumping” of heavily subsidized imports that threatened American farms and manufacturers, the federal Department of Commerce announced last week. The decision is a victory for Minneapolis-based Puris, the leading pea protein supplier in North America, which brought the … Read More
Premier Danielle Smith says no matter the outcome of the United States election, there will be challenges for Canada and Alberta. “Both have protectionist policies that would be damaging to our country and our province,” Smith said at the Canadian Embassy in Washington on Thursday. She said both President Joe Biden and former president Donald … Read More
“If we want greater adherence to the USMCA’s ‘rules of origin’ provisions, the consequences for noncompliance [have] to be greater than 2.5 per cent,” Jason Wade, top administrative assistant to UAW President Shawn Fain, told officials with the Office of the U.S. Trade Representative and the Interagency Committee on Trade in Automotive Goods. “We have … Read More
“The safeguard measure has resulted in positive industry adjustments in terms of significant expansion and investment in domestic solar module manufacturing and announced plans to restart domestic solar cell manufacturing,” the International Trade Commission (ITC) concluded. Read the article.
The value of imports fell 3.6%, while exports of goods and services increased 1.2% to a record high. US petroleum surplus climbs to record $30.1 billion. Capital goods, consumer goods, motor vehicle exports were highest ever. Imports of consumer goods declined to lowest since 2020. Read the article.
