For the past 50 years, the United States has provided economic assistance to dozens of countries. Central to this effort has been “trade liberalization” — the idea that the United States can help developing countries by importing more of their goods. Its proponents call this “trade, not aid.” But in reality, these efforts have failed … Read More
The United States is not going to cancel its additional tariffs imposed on Chinese goods despite Beijing’s call for their removal at recent top-level bilateral meetings in Beijing, but may try to make them more “strategic” after a review. “We are not going to sell the most sophisticated American chips to China that they want … Read More
Any new tariffs would deal a blow to Chinese steelmakers, which have been shipping increasing volumes this year due to weak demand at home. The depreciation of the yuan has bolstered the attractiveness of Chinese steel exports, putting volumes on track for the highest since 2016. Any additional tariffs would increase the cost of those … Read More
The import tariff exclusions include industrial components such as pumps and electric motors, some car parts and chemicals, bicycles and vacuum cleaners. The COVID-related exclusions include medical products like face masks, examination gloves and hand sanitizing wipes. Read the article.
The United States Department of Commerce (DOC) recently issued a preliminary ruling on imposing tariffs of up to 300% on tinplate steel materials imported into the United States from Canada, China, Germany, South Korea, Taiwan, Turkey, the Netherlands and the United Kingdom. Read the article.
The decree focuses on the implementation of temporary import duties ranging between 5% and 25% on goods classified in 392 tariff items covering steel, aluminum, bamboo, rubber, chemical products, oils, soap, paper, cardboard, ceramic products, glass, electrical material, musical instruments, and furniture. These temporary duties are applicable as of 16 August 2023 and until 31 … Read More
The government has finally prepared a national tariff policy to boost trade competitiveness and enhance consumer welfare. Titled ‘National Tariff Policy 2023’, it is the first-ever tariff policy of the country, which is expected to remove the anomalies in the existing tariff structure and highlight the country’s trade-related priorities. The policy has also set a … Read More
Illegal dumping of foreign-made tin mill products — when a company or country exports these products at a price lower than the price charged in its home market — has cost thousands of workers their jobs over the past few years. And it’s rapidly wiping out the rest of an industry crucial to the nation’s … Read More
“China expressed serious concerns concerning the U.S.’ discriminatory (Section) 301 tariffs,” she added. “China demands the U.S. give equal treatment to Chinese enterprises investing in the U.S. in terms of market access, regulatory enforcement, public procurement and policy support,” Shu Jueting, a commerce ministry spokesperson, said. Read the article.
Let’s assume that the tariffs are on products that are also made in America. The tariff raises the price of the foreign product to the benefit of the U.S.-made product. This would encourage more purchases of the U.S.-made product and thus increase production and employment here in the U.S. — the total opposite effect that … Read More
