Matthew Levy: Biden likely to chart new course on trade policy
Biden has said his trade agenda will focus on helping middle-class families who have been disproportionately hurt by globalization.
trade
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U.S. trade policies likely to soften after Biden becomes president
The incoming administration is widely expected to embrace a more multinational approach to U.S. trade policy, moving away from the “America first” strategy embraced by President Trump.
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Hoosier manufacturers feel trade war sting
As the U.S./China trade war drags on, advanced manufacturers in central Indiana are scrambling to determine their best course of action—and there are no easy answers.
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Supreme Court declines to hear challenge to Trump’s steel tariffs
The U.S. Supreme Court declined to question President Donald Trump’s imposition of more than $4 billion in steel tariffs, turning away an appeal that challenged his use of national security as the legal justification for his trade agenda.
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Articles
Biden treads carefully around Trump’s combative trade policy
In his first weeks in office, President Joe Biden has wasted no time in dumping a batch of major Trump administration policies, but his administration seems intent on approaching trade with caution and deliberation.
Keystone XL pipeline halted as Biden revokes permit
Keystone XL President Richard Prior said over 1,000 jobs, the majority unionized, will be eliminated. The premier of the oil-rich Canadian province of Alberta called the decision an “insult” and said the Canadian government should impose trade sanctions.
China economy grew in 2020 on earlier rebound from virus
China eked out 2.3% economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with rising infections.
Indiana scraps plans to buy land for Ohio River port site
Indiana Gov. Eric Holcomb said it would take years to clean up the 725-acre site, making it not financially viable.
U.S. tariffs on China ruled to be illegal by World Trade Organization
In its decision, the WTO ruled against the administration’s argument that China has engaged in practices harmful to U.S. interests, on issues including intellectual property theft, technology transfer and innovation.
U.S. trade deficit surges to highest level in 12 years
The increase was driven by a record 10.9% increase in imports. Exports were also up, but by a smaller 8.1%.
Direct foreign investment in Indiana now a key economic driver
After decades of skepticism, pretty much every Indiana political entity, from small towns to the Governor’s Office, strives to persuade overseas businesses to launch operations in the state,
Trade, technology, security at risk in rising U.S.-China feud
If talks on ending the dispute fail, the world could face downward pressure on trade at a time when the global economy is already reeling from the pandemic.
China deal ‘fully intact,’ Trump says after adviser roils markets
U.S. futures swung wildly as the remarks caused concern that the deal signed in January, which paused the trade war between world’s two largest economies, was in jeopardy.
Vietnam buying $3 billion in U.S. farm goods to ease Trump tariff threats
The agricultural shopping spree is part of a campaign to address complaints about the trade surplus and difficulties U.S. companies face in accessing Vietnamese markets.
Global markets fall sharply as virus cases spread past Asia
The Dow Jones industrial average slumped more than 3% and gave up all of its gains for the year as a surge in virus cases and a worrisome spread of the disease outside the epicenter in China sent investors running for safety.
Trump signals he’s prepared to give farmers more federal aid
China’s economy is being rocked by the new virus that has infected more than 75,000 people and forced many businesses and factories to temporarily close.
China suspends more penalties on U.S. goods after trade truce
Goods affected by the latest reduction include industrial components and medical and factory equipment.
Automakers in China gradually reopen after virus shutdown
Local officials have orders from the ruling Communist Party to get businesses functioning again while still enforcing anti-disease curbs that have shut down much of the world’s second-largest economy.
Hoosier manufacturers prepping for NAFTA 2.0
The new agreement isn’t vastly different from NAFTA, observers say, but does contain new provisions automakers will be paying attention to—even if the impact of these provisions isn’t yet entirely clear.
Economic fallout from China’s coronavirus mounts across globe
Among the first tangible impacts in the U.S. is a decline in the number of Chinese tourists. Visitors from China represent a lucrative market for American airlines, hotels, luxury retailers and entertainment venues.
Many U.S. firms waiting for products to ship from China in coronavirus delay
Many U.S. small business owners are facing a shortage of products or components because suppliers, who closed for the weeks-long New Year holiday, remain shut due to the virus that has killed more than 1,100 people.
China cuts tariffs on $75B of U.S. imports in trade truce
The cuts follow last month’s signing of a “Phase 1” agreement toward ending a long-running tariff war over Beijing’s technology ambitions and trade surplus.
U.S. trade deficit sees first annual decline in six years
The Commerce Department said Wednesday that the gap between what the United States sells and what it buys abroad fell 1.7% last year, to $616.8 billion.