The US and European Union are weighing new tariffs on Chinese steel and aluminum as part of a bid to fight carbon emissions and global overcapacity, according to people familiar with the matter. The move would mark a novel approach, as the US and EU would seek to use tariffs — usually employed in trade … Read More
Longi Green Energy Technology Co., the world’s largest solar company, said that the US Commerce Department’s initial findings on Chinese companies circumventing tariffs will not affect the company’s operations nor will it change its plans for the American market. “No matter what the final result is, it will not affect the company’s medium and long-term … Read More
Wheatland Tube, a steel conduit manufacturer, is closing its Long Beach, California factory and laying off 145 workers. The company cited surging Mexican steel conduit imports as the reason for the plant closure. Given this surge, CPA is urging the Biden administration to use its authority under Section 232 to re-impose the 25 percent tariff … Read More
Jeff Ferry: I agree that there is always a danger of special interests taking over government policy on an industry. But consider this: In 2018, we had steel tariffs imposed, and steel prices rose briefly. But later in 2018, steel prices began to fall and in 2019 they were below the pre-tariff levels. What happened … Read More
Without changes to the EV rules, “U.S. allies and partners will lose confidence in an administration which has highly valued multilateralism and partnership,” wrote the Korea International Trade Association, adding that the provisions could “trigger protectionism worldwide.” Read the article.
Prime Minister Justin Trudeau’s top diplomat called China an “increasingly disruptive global power” and warned that Canadians need to be “clear-eyed” about conducting business with the Asian giant. Earlier this year, Trudeau’s government joined its closest intelligence allies in banning Huawei Technologies Co. from fifth-generation wireless networks. And last week, Canada ordered Chinese investors to … Read More
The government, pursuing an extreme protectionist approach, has slapped up to 500% more taxes on imported cars to cushion the local car industry from overseas competition. Protectionism refers to the government’s economic policies that limit international trade to facilitate domestic industries from getting thrown out of business because of cheap imports. Read the article.
Sometimes you do, in fact, have to hand it to them. Last week the Biden administration imposed aggressive trade restrictions designed to prevent sharing next-generation microchip technology with China. The Department of Commerce announced the new export controls and de facto potential sanctions for China’s advanced semiconductor industry on October 7. The consequences for the … Read More
The EU is furious that the U.S. is pouring subsidies into the homegrown electric car industry. Accusing Washington of protectionism, Europe is now threatening to draw up its own defenses. Unsurprisingly, French President Emmanuel Macron is leading the charge. “The Americans are buying American and pursuing a very aggressive strategy of state aid. The Chinese … Read More
The Office of the US Trade Representative is seeking public comments on “the effectiveness of the actions in achieving the objectives of the investigation, other actions that could be taken,” and the effects on the US economy and consumers, it said in a statement Wednesday. The USTR will open a public web portal for comments … Read More
