China makes too many things. It would be great if they made it for their home market, but they do not. Instead, they massively subsidize their manufacturing companies and overproduce for the world – their main market being the United States.
The United States-Mexico-Canada (USMCA) Free Trade Agreement is fast becoming a free trade agreement for the world, whereas any multinational with a presence in Mexico can set up shop and make the U.S. its number one target. China is doing that now.
Domestic content rules and mandates have worked for China. Should the U.S. try to copy it, in spots, along key supply chains like new energy and semiconductors?
The CEO of American drone maker Skydio told the House Select Committee on the Chinese Communist Party in a hearing last week (June 26) that tariffs were a much-needed tool if the U.S. wants any semblance of a domestic drone industry.
Chinese companies supply many inputs for America’s military, putting the U.S. in a disturbingly vulnerable position. This threatens the survival of the small domestic manufacturers that play a critical role in America’s defense industrial base.
CPA’s chief economist Jeff Ferry joined two other panelists Wednesday to talk trade in an hour-long webinar by Industry Week magazine titled the “2024 Manufacturing Economy First Half Checkup.”
The foreign labs in China and India that make the branded drugs for CVS pharmacies nationwide are coming under increased scrutiny for unsafe manufacturing practices.