Tariff Incidence in the Real World: Why Consumers (Mostly) Didn’t Pay the Steel Tariffs
Summary points: The import price of steel fell in the period following the 2018 imposition of a 25% steel tariff, an indicator that steel tariffs
China Tech & Industry Official Wants U.S. as Clean Tech, Pharma Partner
A senior Chinese official told the U.S. China Business Council that the U.S. and China should partner on EVs and biotech. The private sector can do what it wants. But Washington should not take Beijing up on this offer.
Worker-Centered Trade Means Reshoring U.S. Industries
In June, U.S. Trade Representative Katherine Tai gave a speech in which she outlined her vision of worker-centered trade, a popular phrase among Biden administration
Tainted Blood Pressure Medication from India Can ‘Change Someone’s DNA’
An Indian drug market that’s been the subject of FDA warnings since 2017 is the apparent source of tainted medication sold in the U.S. and Canada. This is another example as to why we need to reshore critical supply of essential medication. Where is Congress?
Global Supply Chains Now Hostage to China’s Energy Rationing
China’s energy rationing hurts American supply chains already in trouble. Diversification away from China should continue full speed ahead for anyone concerned with economic security.
WTO Déjà Vu as Katherine Tai Tries Rallying Peers on Reforms
The Trump administration refused to approve new trade dispute judges to the WTO. The Biden administration isn’t in any real hurry to fix it.
Restarting Tariff Exclusions Undermines Build Back Better, Rewards CCP Recalcitrance
By Charles Benoit, CPA Trade Counsel Regrettably, the Biden Administration announced last week that they’re open to tariff cuts to imports of Made-in-China merchandise. First
Why Washington Shouldn’t be Worried About ‘Inflaming’ China Relations
In speaking for the Biden administration this week at a conference at think tank CSIS in Washington, Katherine Tai said she didn’t want to “inflame relations” with China. Why this attitude gets us nowhere but towards the China-centric, pre-trade war status quo.
Lighthizer in The Economist: If Trade Deficit Persists Like This, U.S. Will ‘Bleed to Death’
Wall Street will have to get used to a weaker dollar. If not, trillion-dollar trade deficits will be the norm. This comes at great expense to America’s industrial base, and the middle class.
August Trade Deficit Rises as Nothing Stands in Way for $1 Trillion Goods Deficit in 2021
August was another big month for imports, with consumer goods leading the way. At this rate, the U.S. will post over a $1 trillion deficit in 2021, a record-breaker.
