Tariffs are essentially taxes imposed on imports on goods, which make them more expensive. There are different types of tariffs, also known as import duties: a) ad valorem duty b) specific duty c) compound duty (a combination of the above two) d) mixed duty e) variable duty – Minimum Import Price (MIP) In certain cases, the exporters may agree with the … Read More
The U.S. is seeking EU tariffs on Chinese steel, which it believes contributes to global oversupply and harms U.S. producers. Simultaneously, the U.S. is hesitant to completely remove tariffs on European metals and instead seeks commitments from the EU to impose tariffs on Chinese steel in exchange for maintaining the suspension of tariffs on European … Read More
Josep Borrell, the EU high representative for foreign affairs, called for improved access for European companies that want to export to or invest in China. He said that political leaders in Europe could face pressure from voters to disengage from the world’s second-largest economy. The EU trade deficit with China topped $17 billion in September, … Read More
According to a study by the non-profit organization Coalition for a Prosperous America (CPA), which represents manufacturers, workers, and farmers, a 15-percent tariff on foreign imports, along with 35-percent tariffs on products in vital supply chains, would generate approximately 10 million jobs and more than $600 billion. Under the Trump Reciprocal Trade Act, if China … Read More
The Biden administration aims to promote “a different set of goals” with its trade policy, with an emphasis on engagement and supply chain resilience, U.S. Trade Ambassador Katherine Tai said. Tai insisted that with more economies, including the United States, grappling with domestic challenges and protectionism, “the goal is no longer to liberalize for liberalization’s … Read More
The difference between an undergraduate international trade economics class and a graduate-level class, is that an undergraduate economics class they teaches you that the ideal level of tariffs for any country is zero. Free trade rules! But in a graduate-level class, they teach you that tariffs can help a nation maximize its national income. What … Read More
U.S. textile production is the foundation of our Western Hemisphere textile and apparel co-production chain, responsible for over 500,000 U.S. jobs. Domestic producers are a critical part of the military’s warm industrial base, supplying over 8,000 items of mission critical gear and clothing annually to our war fighters, and are an essential component of U.S. … Read More
None of England’s colonies has accepted the policy of free trade, while one half of her own people are decidedly in favour of some form and measure of protection. As for our own country, where opinion has always been preponderantly protectionist, free trade is under a sentence of death which will be executed the moment … Read More
The Eastman Kodak Company (Petitioner) filed antidumping duty (AD) petitions on aluminum lithographic printing plates from China and Japan and a countervailing duty (CVD) petition on aluminum lithographic printing plates from China. Read the article.
Republican lawmakers accused a Chinese auto-parts maker of a “blatant” effort to evade US tariffs in the latest sign of rising pressure in Washington to limit China’s growing presence in the car business. Calling the alleged violations a threat to national security, the legislators demanded Department of Homeland Security Secretary Alejandro Mayorkas investigate Qingdao Sunsong … Read More
