The multilateral trading system, birthed on October 30, 1947, was unceremoniously knifed and left for dead by President Biden’s signing of the Inflation Reduction Act. This is an unprecedented move by the United States in our seventy-five year history as part of that system. Retaliation will come from much of the world. Here is what…
A China Beige Book executive makes the case for reshoring in testimony to the U.S. China Economic and Security Review Commission. Meanwhile, U.S. manufacturers continue to lose local market share to imports.
Solar tax credits will make up for some of the damage done to the Section 201 solar safeguards. But Congress beware: the U.S. can’t out-subsidize China.
CPA chief economist Jeff Ferry says the CHIPS Act is needed to counter China’s rise in the semiconductor space, and that the R&D component of the bill needs to include guardrails so American academia isn’t beta-testing and researching new chips in partnership with Chinese universities and companies.
Harry Moser of the Reshoring Initiative gives his assessment of America’s reshoring efforts in testimony to the U.S. China Economic and Security Review Commission.