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.
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.
Katherine Tai Talks Reshoring, Decoupling, and China Tariffs
Katherine Tai spoke to CSIS this week about China. Some takeaways were better than others.
Katherine Tai Says China Tariffs “Effective”
US Trade Representative Katherine Tai says Trump-era tariffs are effective against China. We expect fervent corporate pushback in the months ahead as Phase One trade deal expires, as well as other tariffs next spring.
China Blackouts Should Serve as Another Reason to Vacate the Premises
Whether China’s energy crunch is Beijing climate policy shooting some provinces in the foot or not, blackouts and factory closures will pressure U.S. supply chains that remain overly reliant on China. It’s time to move out of there.
Executives Finally Admit Their Supply Chains Are Broken
A Deloitte survey of CFOs says that nearly half are facing serious supply chain disruptions. They all want to move away from a China-centric model. But will their new “supply chain resilience” push mean nothing for U.S. manufacturing, everything from Southeas Asia and Mexico?
Senators Want China Tech Co Tuya Added to Cap Market Sanctions List
Senators Marco Rubio, Rick Scott and Tom Cotton asked Treasury Secretary Janet Yellen this week to include Chinese software company, Tuya, as part of its capital markets sanctions list.
Tailgating this Weekend? Your Hamburger Probably Came from Australia
Two Democrats and Two Republicans will introduce legislation in September that would make it mandatory to label where beef sold in American grocery stores really comes from.