Roughly 40 congressional staff members had a chance to meet with and hear from industry leaders as diverse as Florida farmers to multinational corporations in the renewable energy space about the trials and tribulations of competing with emerging markets that play by different rules. And often break existing ones.
China’s predatory auto industry is a direct threat to American auto manufacturers and the hundreds of thousands of hard-working men and women that rely on this critical industry.
“We are seeing a new consensus on trade. A lot of credit goes to President Trump and a lot of it goes to a bunch of working class Democrats,” Robert Lighthizer said at the first-ever Prosperity Summit.
Rep. Adrian Smith of the House Ways and Means trade subcommittee says the Generalized System of Preferences will be renewed, with retroactive tariff refunds worth billions.
Last year, the U.S. imported more goods from Mexico than it did from China. It was a first. Although the trade deficit with China is still the biggest out of every country, and more than the trade deficit with Mexico and Canada combined, Mexican imports totaled $475.6 billion in 2023 versus China’s $427.2 billion.
The U.S. manufacturing boom, which started slowly since the implementation of tariffs on steel, aluminum, some China imports, and sped along by new laws favoring domestic supply chains, has had a positive impact on lower income counties nationwide.
The decision, which will result in nearly 1,000 employee layoffs in April, is a direct result of the U.S. International Trade Commission’s (ITC) determination that illegally dumped and subsidized imports of tin mill products from China, Canada and Germany do not sufficiently harm the U.S. domestic steel industry.
An alarming new report from Horizon Advisory details China’s distortion of the global solar industry and how that threatens the national and economic security of the United States as it “risks making the United States dependent, and dependent on an adversary, for a strategic, future energy source.”