China's industry incentives might push the U.S. to impose tariffs on China's green energy exports according to U.S. Treasury Secretary Janet Yellen. Yellen stated the U.S. would prefer to work out a different solution but that tariffs and other measures were still possible. According to Yellen, the U.S. is trying to create a "level playing field in the green energy space."
Tag: tariffs
US and China Discuss Economic Challenges as Talk of Tariff Rollback Swirls (Macro News for July 2, 2022 – July 8, 2022)
The U.S. and China announced that top officials from both nations, U.S. Treasury Secretary Janet Yellen, and China’s Vice Premier Liu He, engaged in a “substantive conversation” about actions that the nations could take to reduce inflation and increase economic growth. Both nations acknowledged that better policy coordination between the world’s two largest economies could improve the global economy and help stabilize the “global industrial supply chain.”
Australia and the United Kingdom Announce Post-Brexit Trade Deal (Macro News for June 19, 2021 – June 25, 2021)
The United Kingdom signed its first free-trade agreement since leaving the European Union in January 2020. Australia and the U.K. announced the deal on Tuesday June 15, 2021 and promised the details would soon follow. Other agreements signed since Brexit between the U.K. and Japan and Norway were based on previous EU negotiations. This agreement is the first major trade agreement negotiated solely between the U.K. and another trading partner.
Steel and Lumber Prices are Sky-High. Lifting Trump’s Tariffs Could Help (Macro News for June 5, 2021 – June 11, 2021)
Raw materials supplies cannot keep up with the booming US economy and the resulting shortages and price hikes threaten to derail the pandemic recovery. However, President Biden could alleviate some price pressure on lumber and steel by ending the Trump era tariffs on these products. The tariffs were enacted to protect American industry and jobs from alleged “unfair trade practices” and eliminating the tariffs could harm US workers.
Pearson Economic News 