President Biden is making it clear that the United States’ rejection of full-throttle globalization during the Trump administration was no aberration, as he continues a remarkable break with decades of trade policy that spanned both Republican and Democratic administrations. Blending a tough-on-China stance with lavish federal subsidies for favored industries, the president is reshaping the … Read More
Trade policy is a complete framework of relevant rules, regulations, stances and deals that need a supportive tariff policy. The objectives and goals of the tariff policy are clearly defined and justified to a large extent. Having no written tariff policy for the last five decades was a drawback in the country’s trade policy regime, which … Read More
U.S. imports of animal and vegetable oils and fats from China totaled nearly $290 million in the first six months of 2023, soaring from around $1 million in all of 2022, as U.S. renewable diesel makers increasingly turn to Chinese feedstocks to capitalize on green subsidies. Read the article.
Steel tariffs on South Korean products would be raised to 25pc from the current 10pc, Motie said. The economy ministry listed higher tariffs for 392 products from countries with which Mexico has no trade agreements. More than 200 of the products are steel and aluminum, in addition to chemical products and household items. “Export volumes … Read More
“I think when companies come in and they dump their products in the United States, they should pay automatically, let’s say a 10% tax,” he told Fox News on Thursday. “That money would be used to pay off the debt. It’s a massive amount of money.” The former president also proposed what he called a … Read More
In Canada, lumber-producing provinces set so-called stumpage fees for timber harvested from Crown land, a system that U.S. producers — forced to pay market rates — say amounts to an unfair subsidy. The latest administrative review by the U.S. Commerce Department resulted in a modest decrease in the so-called “all others” combined duty rate, but … Read More
The US Department of Commerce on Monday removed the Chinese entities — such as chemical firm and lithium battery material maker Guangdong Guanghua Sci-Tech Co., and sensor maker NanJing GOVA Technology Co. — from its “unverified list,” which restricts a company’s ability to buy American technology. Read the article.
The World Trade Organization ruled Wednesday that China violated its trade agreements when it placed tariffs on U.S. exports in retaliation for steel and aluminum duties imposed by the Trump administration in 2018. A WTO panel said former President Donald Trump acted in the legitimate security interests of the United States when he placed 25% … Read More
During his first term as the US president, Trump described India as a “tariff king” and in May 2019, terminated India’s preferential market access — Generalised System of Preferences (GSP) — to the United States alleging India has not given the United States “equitable and reasonable access to its markets.” “The other thing I want … Read More
The average reservation wage – the lowest annual pay that workers would accept to take a new job – increased to $78,645 in July. That’s up from about $72,900 a year earlier and $69,000 in July 2021. According to a Federal Reserve Bank of New York survey released Monday, pay demands among women are rising … Read More
