Australian Lobsters are the new Gas export
Free trade remains, in general, a fantasy, dangerous for the naïve who feel that by embracing it, they are somehow enlarging their appeal and standing. Often, countries extolling its value are only those desiring exclusive or privileged access to a market. From 2016 onwards, the free traders have been pummeled. With Donald Trump in the White House, America First meant imposing, among other things, tariffs of 25% on US$50 billion on Chinese goods under Section 301 of the Trade Act of 1974. More rises followed.
Under the Biden administration, Trump’s tariff legacy remained in place, though some suspensions were made. (These were subsequently reimposed.) This enabled President Joe Biden to sharpen the focus on specific categories: electric vehicles (EVs), semiconductors, lithium ion batteries. Tariffs on Chinese semiconductors spiked to 50%, while Chinese EVs received a bruising 100% increase.
Welcome to Tariff Land: The Retreat of Free Trade
“It was an insensitive slur. No one should be subjected to this kind of language and I apologise”
PM Apologises to Tourette’s Sufferers for Comparing Them to Angus Taylor
No comments:
Post a Comment