The tariffs targeting cheap Chinese imports mean prices in the US are higher than average, at the same time Biden is pushing for more renewable energy. But their effect might surprise you.
Australia’s Prime Minister wants reform of the World Trade Organization to rein in China’s ‘economic coercion’. But it also needs to constructively engage with China on that reform.
A formal resolution off Australia’s complaint about Chinese barley tariffs will likely take years. But at least it starts a structured process for dialogue.
The US and China have reportedly agreed on a partial deal to ease tensions in the two-year old trade war. Does that mean it’s almost over? Fat chance, an economist says.
The US and China once again exchanged fire in their escalating trade war. Tariffs have been the main source of ammunition thus far, but China has other weapons it could begin to deploy.
The economic theory of comparative cost advantage is more akin to natural law – it can’t be wished away. And during the ongoing trade war ignited by Donald Trump, it has never been more relevant.
The Trump administration’s promise of $12 billion in aid to offset losses from retaliatory tariffs will not make up for the long-term consequences of a prolonged trade war.
Canada recently slapped a tariff on US exports of the tomato-based condiment, and the EU plans to do the same, perhaps on the notion that it’s distinctly American. In fact, ketchup’s origins are global, as are its fans.
International trade policy requires three traits to be successful and lead to mutual prosperity. Trump’s is missing all three, as he showed at the G-7 summit.