Over recent years, a notable shift has been observed in the global economic and cultural exchange trajectory, marking a departure from the rapid pace of globalisation towards what is increasingly termed ‘slowbalisation’ in economic literature. Slowbalisation is the perceived trend away from the rapid globalisation that characterised much of the late 20th and early 21st … Read More
The 2024 Trade Policy Agenda and 2023 Annual Report to Congress released by the office of US Trade Representative Katherine Tai, sought continued action against “harms wrought” by what it called Beijing’s “trade and economic abuses”. “We are also considering all existing tools – and will seek new ones as needed,” the report said, contending … Read More
The Protecting American Autoworkers from China Act would, increase the base tariff rate of auto imports from China to 100 percent, for a total tariff of 125 percent on all imported autos from China and apply the higher tariffs to all imported autos manufactured by Chinese automakers, irrespective of where the car is manufactured. “If … Read More
Former U.S. President Donald Trump would be able to implement a sweeping tariff on nearly all imported products upon taking office if he is elected again, former senior trade official Jamieson Greer told Nikkei, countering the argument that the president does not have the power to do so. Greer, now a partner at law firm … Read More
Two U.S. senators looking to crack down on the number of packages from China that enter the U.S. duty-free are calling on President Biden to take executive action, saying domestic manufacturers can’t compete with low-cost competitors that rely on forced labor and state subsidies in key sectors. U.S. trade law allows packages bound for American consumers and valued below … Read More
Mohamed Daoud Ghacham, 40, was sentenced and ordered him to pay nearly $6.4 million in restitution, according to the U.S. Attorney’s Office. Ghacham’s company, Ghacham Inc., which does business under the Platini brand name, imported clothing from China and submitted fraudulent invoices to U.S. Customs and Border Protection that undervalued the shipments, allowing the company … Read More
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
