Washing machine tariffs were a success, as measured by over 2,000 new jobs, more competition, no sustained effect on washing machine prices and economic stimulus with the construction of new factories.
The Biden administration’s signature clean energy law, the Inflation Reduction Act (IRA), got its clock cleaned last week at a Senate Energy Committee hearing.
The world’s fourth largest steel producer – Nippon Steel of Japan – made an offer to buy the third largest steelmaker in the U.S., U.S. Steel Corporation, in an all cash purchase priced at $55 a share in December, nearly double the company’s share price from early August.
As Congress considers renewal of the program, the marketing has switched to “facilitating supply chain shifts out of China”. This is narrative creation completely untethered to reality.
Key Points: This article reviews the last five years of federal government manufacturing policy, including tariffs and tax credits, finding positive effects on rebuilding U.S. manufacturing. Single-country tariffs on imports from China have reduced U.S. dependence on China, with modest impact on reshoring U.S. manufacturing. Global tariffs such as those on steel and washing machines…
On Friday, March 31, the U.S. Treasury launched their latest torpedo targeting the Inflation Reduction Act’s domestic manufacturing policies. This time, it’s over what countries have a “free trade agreement” with the United States. This is actually universally understood fact: there are twenty countries. But to grow the list beyond the twenty, so as to…
Last August, President Biden signed the Inflation Reduction Act, a sweeping bill that has already led to tens of billions in private investment into U.S. manufacturing. But the U.S. Treasury department’s haphazard, inchoate implementation of the electric vehicle purchasing tax credits has led to consumer chaos and uncertainty in the new car market. Worse yet,…
Senator J.D. Vance of Ohio needs to be on the Senate Finance Committee for the good of the country. Even if Senator McConnell, the top Republican in the Senate, isn’t convinced about the good of the country part, he should see that not assigning Vance to Finance will surely doom Republicans to minority status in…
Urges Biden Administration to Robustly Enforce U.S. Trade Policy WASHINGTON — The Coalition for a Prosperous America (CPA) today applauded an announcement by First Solar, the largest American solar manufacturer, that it plans to invest up to $1.2 billion in scaling production of American-made, responsibly-produced photovoltaic (PV) solar modules. As first reported by The Wall…
Greater import dependence makes countries more vulnerable to price shocks.
