Allowing large numbers of electric vehicles from Chinese companies assembled in Mexico would be an "extinction event," warned the Alliance for American Manufacturing, a nonprofit co-founded by large domestic manufacturers and the United Steelworkers union.
National Association of Manufacturers CEO Jay Timmons said that all of his 250 members want liberalized trade, and said he didn't understand why a simple issue like the Miscellaneous Tariff Bill has been hung up in partisan conflict for three years.
A climate policy adviser to Sen. Sheldon Whitehouse, a Rhode Island Democrat and lead advocate for a domestic carbon tax paired with a carbon border tax, said he thinks the expiration of Trump tax credits in 2025 could create a window to pass some sort of carbon border adjustment tax, because Congress will be seeking revenue raisers to be able to continue the tax cuts.
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House Ways and Means Trade Subcommittee Chairman Adrian Smith, R-Neb., told an audience of trade professionals that while he appreciates the complaint that CBP cannot adequately screen packages that enter under de minimis, he thinks if de minimis is tightened, it could make enforcement even more difficult.
U.S. Trade Representative Katherine Tai said that talking about tariffs more than other aspects of trade policy is, to a large degree, "a red herring," and said reducing U.S. trade policy "down to a conversation about tariffs is really unfair."
Former President Donald Trump, in a television appearance with Maria Bartiromo, bragged about the "big tariffs" he put in to stop the import of Chinese steel, and denied a Washington Post report that he is thinking about imposing a flat 60% tariff on Chinese imports if reelected.
Japan, which suffered economic coercion from China earlier than any other country, is largely on the same page as the U.S. when it comes to supply chain resilience and restrictions on exports, but the two diverge in their attitudes about China's role in the global economy.
Ending most favored nation status for Chinese imports -- as advocated for by the House Select Committee on China and some other China hawks in Congress -- would increase consumer prices for laptops and smart phones by more than $100, and cause purchases of those goods to fall sharply, according to a recent study commissioned by the Consumer Technology Association.
The Office of Foreign Assets Control on Jan. 18 updated guidance related to an expanded ban on imports of Russian seafood announced in December (see 2312220007). The update to OFAC’s frequently asked question adds several new tariff subheadings to the lists of tariff provisions for pollock and other seafood to which the ban may apply.