The US should punish China for preventing Qualcomm, a premier US chip company, from acquiring NXP, a Dutch company that manufactures a noncompeting line of chips. The merger had been approved by eight other key jurisdictions around the world; China was the only remaining holdout. The Chinese government pretended that it was killing the merger […]
Japan and EU sign largest bilateral trade deal ever
Trade correspondent L.C. reports: Japan and the EU signed the EU-Japan Economic Partnership Agreement (EPA) on July 17th in Tokyo. It is the largest bilateral free trade agreement ever concluded, covering over 600 million people and almost a third of world GDP. The two sides also signed a bilateral Strategic Partnership Agreement covering cooperation in […]
Federal Reserve shouldn’t set interest rates
President Trump has been widely criticized for coming out in opposition to further Federal Reserve’s interest rate increases. This supposedly violates the Fed’s independence from political manipulation. The independence of the Fed from politics is something of a myth, however. Furthermore, the Fed cannot help but be responsive to the President’s warning at this juncture, […]
New Trump tariffs on $200 bn. of Chinese imports will hit US consumers directly
Trade correspondent L.C. reports: The planned Trump administration tariffs of 10% on $200 bn. of Chinese imports will hit US consumers directly — unlike the previous tariffs, which were on producer goods (steel and aluminum) and thus hit manufacturers first. The list US Trade Representative (USTR) Robert Lighthizer has prepared contains 6,031 products. The tariffs […]
Trade war with China has officially begun; allies also retaliating
Trade correspondent L.C. writes: The US confrontation with China ratcheted up on July 6th with the imposition of 25% tariffs on $34 billion in Chinese exports to the US. China immediately responded, as expected, by imposing 25% tariffs on $29.6 billion in US exports. The US tariffs were imposed under Section 301 of its trade […]
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