Trade correspondent L.C. reports: In one of his biggest trade surprises, President Trump announced on May 30th that he was invoking the International Emergency Economic Powers Act of 1977 to impose tariffs on all goods imported from Mexico. The tariffs will increase in monthly 5% steps until Mexico takes unspecified further actions to stem the […]
Commerce proposes a new countervailing duty: currency devaluation
Trade correspondent L.C. writes: In a major new trade policy move, the Commerce Department on May 23rd released a draft proposal to add currency devaluation to its rules on countervailing duties. US law defines a countervailable subsidy as a financial contribution from a government or public entity that is specific and provides a benefit to […]
US capital investment hit by Trump’s trade warring
Trade correspondent L.C. reports: President Trump has liberated the US from President Obama’s regulatory damage to the economy only to replace it with his own no less harmful trade damage. Over a year ago, Founders Broadsheet warned that the administration’s tactics would harm the US, and our concerns are now unfortunately coming to be validated. […]
Major escalation of US-China trade war by both sides
Trade correspondent L.C. writes: President Trump’s threatened tariff escalation against China – announced a week ago – has now come to pass. The Section 301 tariff rate of 10% on $200 billion of US imports from China has been increased to 25%. The tariff increase went into effect for goods leaving China after 12:01 a.m. […]
Effect of Trump China tariff threat uncertain
Trade correspondent L.C. reports: The US-China trade talks apparently aren’t going as well as US and Chinese officials indicated after USTR Robert Lighthizer and Treasury Secretary Steven Mnuchin held talks in Beijing last week. In a threat that took most observers by surprise, President Trump tweeted on Sunday, May 5th: For 10 months, China has […]
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