Trump spoke for nearly two hours in his usual off the cuff speaking engagement at the Detroit Economic Club in Michigan recently. The automotive industry was a priority topic, with the presidential candidate saying Washington has to incentivize American auto makers.
Two years of plant closures have led steel pipe maker Zekelman Industries to take matters into its own hands. The company announced on Oct. 21 that it filed a lawsuit against the Mexican government for breaching a 2019 joint steel trade agreement with the United States.
U.S. Trade Representative Katherine Tai said the proper use of tariffs as a trade tool is good for the middle class, especially those that work in the industrial sectors of the economy. No tariffs, on the other hand, may lower costs of goods sold.
Ford is the winner, though it might not be a prize worth winning in this case. The number one U.S. corporation with the most exposure – and therefore dependency – on China partners and supply is the historic Detroit auto maker.
The U.S. dollar remains at about the same worldwide valuation in our latest quarterly Misalignment Monitor, continuing to create a double-digit import incentive to the great disadvantage of domestic U.S. producers.
Donald Trump was in Savannah for a campaign stop on Tuesday where he spoke for 90 minutes, bringing up tariffs, taxes, and a real threat of tariffs on Mexico-made cars.
Claudia Sheinbaum, who won Mexico’s June presidential election with 59% of the vote, will take office in October 2024. She succeeds President Andrés Manuel López Obrador (AMLO) and shares his political affiliation as a member of the National Regeneration Movement (MORENA).
CPA strongly urges the Biden administration to impose quotas and increase tariffs to address Mexico’s surge of steel imports in violation of the agreement.
To craft a pro-America trade and economic agenda, Harris should pledge to increase overall tariffs, use tax credits more broadly to grow critical production, and ignore Wall Street’s call to return to the failed trade policies of the past.
Hofusan is one of the most well known investments of Chinese capital looking not only to sell to Mexican consumers, but – more obviously – to export everything from furniture to washing machines duty free to the United States.
