Steel and aluminum producers in Canada are urging Prime Minister Justin Trudeau’s government to swiftly impose new tariffs on Chinese products, saying metals from the Asian powerhouse are flooding the Canadian market and threatening local jobs. Catherine Cobden, president and chief executive officer of the Canadian Steel Producers Association, told a news conference in Ottawa … Read More
Excessive imports siphon demand for goods and services away from American producers and drive the government to run a budget deficit to cover that gap. This shortfall in demand in the U.S. produces a recession-like effect because it means that the dollars earned by Americans are not being re-spent into the U.S. economy to employ … Read More
Sharpie pen maker Newell Brands is moving some production of kitchen appliances out of China and has relocated manufacturing for its writing business to Tennessee as it faces “uncertainty” on tariffs ahead of the U.S. presidential election, Newell CEO Chris Peterson said. Peterson specified in the interview the supply-chain changes are not a response to … Read More
The Canadian Vehicle Manufacturers’ Association has pushed strongly for alignment with U.S. policy so that the more than $40 billion in Canadian EV industry investments announced over the past four years can have room to succeed. “Because on the basis of strong competition, a fair playing field, it encourages us to invest heavily, employ deeply.” … Read More
Two Georgia companies have asked the U.S. government to slap hefty tariffs on golf carts being imported from China, arguing that they are receiving unfair subsidies that undercut U.S. competition and workers. More than 3,000 Georgians work for the companies making golf carts. Makers say 3,000 jobs are at risk. Read the article.
68.4% of U.S. manufacturing demand was met by domestic production. The remaining 31.6%, was met by imports. The improvement in the DMSI was fueled by both an improvement in the U.S. trade deficit in manufactured goods and U.S. manufacturing output. The DMSI is now reaching pre-COVID levels, signaling a potential recovery from the all-time low … Read More
Senator Lindsey Graham (R-SC) introduced new legislation on Wednesday aimed at imposing tariffs on nations that import crude oil or petroleum products from Iran,accorging to the Jewish Insider. The proposed Tariffs for Terrorism Act comes after extensive discussions with former President Donald Trump on strategies to further limit Iran’s oil revenue. The legislation seeks to … Read More
United States trade officials marked the fifth anniversary of tariffs on some Spanish table olive imports by voting unanimously to extend them. A four-member panel of the U.S. International Trade Commission (ITC) voted to keep tariffs on some Spanish black ripe table olive imports. The vote was required under the Uruguay Round Agreements Act, which … Read More
The latest CPA Currency Misalignment Monitor for July 2024 found that the U.S. Dollar (USD) is overvalued by 16.9%, based on the latest monthly exchange rates. This overvaluation of the USD provides a hidden subsidy for importing goods into the United States. The overvaluation also essentially puts a tax on U.S. exports. Due to the … Read More
Throughout the post-war era, their guiding principle has been that the gains from trade outweigh the costs. But some prominent economists are reconsidering this premise in light of problems that arose after developing economies liberalized their trading systems and became integrated into the global economy. A criticism of those who favor “fair trade” is that … Read More
