Really? The Trump-Biden tariffs have resulted in record-low unemployment, wages outpacing inflation, and plentiful jobs. Corporate profits reached a record high in the third quarter of 2022. The third quarter 2023 total was just shy of the record set in 2022. These higher profits allow American companies to adjust to higher borrowing costs and higher … Read More
Musk’s comments come after Warren Buffett-backed BYD – with its cheaper models and a more varied lineup -overtook Tesla as the world’s top-selling EV company last quarter, despite the U.S. automaker’s deep price cuts through 2023. Chinese car companies were the “most competitive” and “will have significant success outside of China, depending on what kind … Read More
If protectionism is anit-liberty, then so isn’t the U.S. Constitution, since it mentions “duties,” which is simply another word for tariffs – the blunt instrument tool of protectionism. More evidence that free traders are self-contradictory and bereft of integrity. Its amazing they can actually believe what they are pushing. Read the article.
US Congress urges the Biden administration to impose high tariffs to prevent China from flooding the country with mature process chips. US export control measures against China include restricting advanced process equipment to China and restrictions on producing chips below 7 nanometers. Read the article.
The UAW told the Office of the U.S. Trade Representative that at the time of ratification, the group did not believe the revised version of the North American Free Trade Agreement went far enough to rebalance automotive trade in the region. “The UAW is calling to specifically increase MFN [most favored nations] tariffs rates on … Read More
As detailed in an economic study released by Werner International in 2022, U.S. import prices for apparel from China have dropped 25 percent since 2019 and 50 percent since 2011. In other words, China has been dropping its prices to convince sourcing agents to remain loyal despite the risks, and in order to hold onto … Read More
“Manufacturers in the U.S. cannot afford this direct economic hit and need action to be taken as soon as possible. Passing MTB legislation will increase competitiveness, spur growth and support the success of manufacturers, farmers, businesses, workers, consumers and communities throughout the U.S., said the NAM. The previous MTB expired in December 2020, and since … Read More
Canada is challenging the U.S. decision late last year to maintain duties on exports of Canadian softwood lumber, Trade Minister Mary Ng said in a statement on Wednesday, Reuters reported. The U.S. International Trade Commission (ITC) decided last November to maintain anti-dumping and countervailing duties on Canadian softwood lumber. Read the article.
The 2018-2023 washing machine tariffs led to a larger, more competitive U.S.-based residential washer industry, including the creation of over 2,000 new jobs at two Korean-owned companies which opened U.S. manufacturing facilities in the southern U.S. Washing machine prices are now below pre-tariff levels, and prices have risen less than consumer inflation, demonstrating that after … Read More
The shift is the result of a years-long trend that has seen a gradual decline in China’s share of the U.S. import market, driven primarily by continued U.S. tariffs on a broad array of Chinese goods. As recently as 2017, Chinese goods had accounted for more than 21% of U.S. imports, but after former President … Read More
