Secretary of Energy Jennifer Granholm said that the Biden administration’s plan to quadruple tariffs on imported Chinese electric vehicles to over 100% in August is crucial to the health of the U.S. auto sector. “We need to have that industry here,” Granholm said in an interview with Reuters on Tuesday. “If we didn’t do that, … Read More
China is taking its domestic economic problems and exporting them to the rest of the world, the US Ambassador to Japan Rahm Emanuel said, adding this strengthens the resolve of America and its partners to stand together. “China is not going to win the good neighbor award,” Emanuel said in a Bloomberg TV interview Tuesday. “There’s nobody … Read More
Americans used to pride themselves, open market, and free trade, and many still do today. But now it seems that US policy makers are increasingly deviating from the path, partly fueled by the the resurgence of populism at home. From the “America First” policy to the “Buy America” agenda, the country does not even bother … Read More
During President Donald Trump’s first term, economists wrongly predicted disastrous inflation from increased tariffs. Instead, inflation averaged just 1.9 percent while real wages rose. While inflation has increased significantly in recent years — with the Consumer Price Index now up nearly 20 percent — this has been driven largely by the Covid pandemic, supply-chain shortages … Read More
“Trade policy has long followed the trickle-down approach that has been so common over the past four decades. But if we recognize that deferring to the market has its limits in ensuring that domestic economic policy benefits working people, we must also recognize its limits to do the same when it comes to trade,” Tai … Read More
The Biden administration’s recent action to raise tariffs on strategic goods imported from China has raised both praise and sharp critiques. Most critiques fall into two categories, with some lamenting the tariffs as an affront to the supposed free-trade ethos of the past, arguing that tariffs would lead to higher inflation or higher prices, or … Read More
One after another, Latin American nations are following in the footsteps of the US and Europe by imposing prohibitive tariffs on Chinese imports — a strain in what’s been an otherwise cozy relationship. Mexico, Chile and Brazil have hiked — and in some cases more than doubled — duties on steel products from China over … Read More
Canada is seeing a surge of imports of Chinese-made EVs, particularly Tesla models made in Shanghai. The number of cars arriving from China at the port of Vancouver rose more than fivefold last year, to 44,400, after Elon Musk’s automaker started shipping Model Y vehicles made there. The situation is drawing howls of protest from … Read More
Mexican authorities assert that the federal government has the duty to implement the necessary mechanisms to generate stability in domestic industry sectors and provide for the elimination of trade distortions, in an effort to safeguard the balance of the global market in accordance with international law and Mexico’s international commitments. The authorities add that, as … Read More
The United States imported some $4.4 billion worth of wooden cabinets, vanities and their components from China in 2018. The U.S. Commerce Department on Feb. 24 imposed anti-dumping duties of up to 262.2% and anti-subsidy duties of up to 293.5% in an investigation that started last year with a petition from the American Kitchen Cabinet … Read More
