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Research shows that former President Donald Trump’s tariffs on China did indeed raise prices on consumers and businesses — despite his claims otherwise. The study found tariffs imposed by former President Donald Trump did not meaningfully contribute to inflation. “The new Biden tariffs, like the more extensive ones that Trump has promised, will worsen US inflation. It is fair to debate how much the Biden tariffs will impact inflation because they are not nearly as widespread as what Trump imposed and what Trump is promising if he’s reelected. Trump enacted sweeping tariffs on $300 billion in Chinese imports, setting off a trade war between the world’s two biggest economies.
Persons: Katherine Tai, Joe Biden’s, ” Tai, , Donald Trump’s, Tai, Angela Perez, Donald Trump, Goldman Sachs, Tai’s, “ Trump, ” Biden, , Alex Durante, Tai’s “, Maury Obstfeld, Biden, , Trump, he’s, ” Perez, White, Morgan, Daleep Singh, Jen Psaki, Jared Polis, ” Polis, Ed Mills, Raymond James, David Kelly, ” Kelly Organizations: New, New York CNN, US, White, Research, CNN, US International Trade Commission, , China, Tax, Obama, Peterson Institute for International Economics, Biden, Atlantic Council, Bretton, Committee, , Colorado Gov, Republicans, Asset Management Locations: New York, China, Ukraine, EVs, Europe
TradeBiden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. As president, Trump fixated on the US trade deficit even as some economists argued against reading too much into such figures. He didn't see the fruits of his biggest trade deal, which went into effect in July 2020: the USMCA, a revamped North American trade deal known Experts at Brookings Institution have praised the treaty for growing regional trade. Trump has pledged to kill the Biden administration's new Asian trade talks, which the former president has dubbed "TPP two."
Persons: Biden, Niels Wenstedt, Trump, Katherine Tai, Sen, Elizabeth Warren, Barack Obama Organizations: BSR Agency, Getty, Republican Party, American Free Trade, World Trade Organization, Big Tech, Trump, Bloomberg News, Brookings Institution, TransPacific, US, Biden, Politico Locations: Washington, China, American, Mexico, Beijing
U.S. Trade Representative Katherine Tai on raising China tariffs
  + stars: | 2024-05-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Trade Representative Katherine Tai on raising China tariffsU.S. Trade Representative Katherine Tai joins CNBC's 'Squawk Box' to discuss why the Biden administration announced new tariff rates on Chinese imports.
Persons: Katherine Tai Organizations: U.S, Trade, Biden
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022. The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. First-time tariffs will be imposed on Chinese imports of medical needles and syringes, as well as massive ship-to-shore cranes, the White House said in a fact sheet.
Persons: Joe Biden, Xi Jinping, Biden, Katherine Tai Organizations: . Trade Locations: Bali , Indonesia, China
CNN —As US supply chains decouple from China, Mexico’s manufacturing sector is emerging as a winner. Ramos said Mexico and China have been competing for the US manufacturing market for years, but amid a shifting US-China relationship, Mexico looks poised to pull ahead. Those exports were driven by manufacturing, which comprises 40% of Mexico’s economy, according to Morgan Stanley. Meanwhile, Chinese exports to the US were down 20% in 2023, compared to 2022. Analysts at Morgan Stanley see the value of Mexico’s exports to the United States growing from $455 billion to about $609 billion in the next five years.
Persons: That’s, nearshoring, Alberto Ramos, Goldman Sachs, Ramos, Morgan Stanley, Katherine Tai, CNN’s Julia Chatterley, Tai, United States Jose Luis Gonzalez, Xeneta, Peter Sand, Jose Enrique Sevilla, John Raines, Goldman’s Ramos, Biden, Raquel Buenrostro, , Joe Biden, Donald Trump, Trump, , Global’s, Raines, Christoffer Enemaerke, , Tesla, Elon Musk, Julio Cesar Aguilar, BYD doesn’t, RBC’s Enemaerke, Michael Nam Organizations: CNN, Manufacturing, Commerce Department, US Trade, General Motors, Ford, Reuters, Shipping, Container Trade, Xeneta, Moody’s Analytics, P Global Market Intelligence, steelworkers, , Global’s Sevilla, Macip, RBC, Getty, BYD, ” Sevilla, Monterrey Locations: China, Mexico, Canada, North America, US, Ciudad Juarez, United States, Pittsburgh, Mexican, Monterrey, , Nuevo Leon, Asia
Yellen: US economy strong, not overheated
  + stars: | 2024-04-25 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +3 min
Yellen on Thursday was interviewed by Reuters’ editor in chief Alessandra Galloni as part of the news organization’s NEXT Newsmakers series. “The economy is clearly performing very well,” Yellen said. Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report. Economic growth has remained historically strong in the face of elevated inflation, high interest rates and geopolitical tensions. “I believe the fundamentals here are in line with inflation continuing downward toward a normal level,” Yellen said.
Persons: Janet Yellen, Alessandra Galloni, ” Yellen, , Yellen, Joe Biden, Katherine Tai, Tai Organizations: CNN, Reuters, Commerce Department, Federal Reserve, US Trade Locations: Yellen, Ukraine, US, China
President Biden on Wednesday will call on his trade representative to more than triple some tariffs on steel and aluminum products from China, as part of a series of moves meant to help cushion American manufacturers from a surge of low-cost imports. Speaking to the United Steelworkers Union in Pittsburgh, Mr. Biden will ask the U.S. trade representative, Katherine Tai, to increase tariffs to 25 percent on certain Chinese products that currently face tariffs of 7.5 percent — or no tariffs at all — U.S. officials said. Mr. Biden will also announce a new trade representative investigation into China’s aggressive support for shipbuilders and other related industries, in response to a union complaint. And he will announce new initiatives to work with Mexican officials to block China from evading American steel tariffs by routing its exports through Mexico. The moves represent an escalating effort by Mr. Biden and his aides to stop a flood of low-cost Chinese exports from undermining made-in-America products — and jeopardizing a central focus of Mr. Biden’s economic agenda.
Persons: Biden, Katherine Tai, Mr Organizations: United Steelworkers Union, U.S Locations: China, Pittsburgh, U.S, Mexico, America
The tariffs Mr. Biden will propose raising on Wednesday were initially imposed by Mr. Trump when he was president. Mr. Biden’s stop in Pittsburgh is part of a three-day swing through Pennsylvania, a crucial battleground state that he narrowly won in 2020 and has visited more than any other. The president’s campaign is hoping to mobilize support from organized labor, a traditionally Democratic constituency from which Mr. Trump has pulled some support. On Tuesday, Mr. Biden spoke at the local union of the United Brotherhood of Carpenters and Joiners in Scranton, Pa., his hometown. “Donald Trump looks at the world differently than you and me,” Mr. Biden said in a speech that signaled his campaign’s intention to make the 2024 election a referendum on Mr. Trump.
Persons: Biden, Katherine Tai, Mr, ” Lael Brainard, Janet L, Yellen, , Lloyd J, Austin III, Biden’s, Donald J, ” Mr, Trump, “ Donald Trump, ” Alan Rappeport, Michael D, Shear Organizations: United Steelworkers Union, U.S, Economic Council, International Monetary Fund, Trump, CNBC, Mr, Democratic, United Brotherhood of Carpenters Locations: China, Pittsburgh, U.S, Mexico, America, Beijing, United States, Biden’s, Japan, Philippines, South China, Pennsylvania, Joiners, Scranton, Pa, Mar
CNN —President Joe Biden called on his administration to ratchet up pressure on the Chinese steel industry as he brings his economic competition pitch to Pittsburgh, the heart of the American steel industry, on Wednesday, part of a three-day campaign trail swing through battleground Pennsylvania. The trip comes after Biden last month publicly opposed a controversial $14 billion deal for Japan’s Nippon Steel to purchase US Steel. President Biden will not impose ineffective, across-the-board tariffs that would increase costs and harm hundreds of thousands of jobs,” the official said. The United Steelworkers, a key union representing workers in the steel industry, endorsed Biden’s reelection campaign last month. Trump made tariffs against China a central feature of his global economic strategy, and Biden has largely maintained them, despite external criticism.
Persons: Joe Biden, ” Biden, Biden, Donald Trump, Katherine Tai, , Tai, Lael Brainard, ” Brainard, “ They’re, ” , , Biden’s, he’s, Trump, Xi Jinping, Lloyd Austin, CNN’s Chris Isidore, Arlette Saenz, Kevin Liptak Organizations: CNN, United Steelworkers, United States Trade, National Economic, of, Japan’s Nippon Steel, US Steel . US Steel, Justice Department, Foreign Investment, US Steel, , American, steelworkers, Biden, Trump Locations: Pittsburgh, Pennsylvania, China, America, Scranton, Philadelphia, New York City, United States, American
Valdis Dombrovskis, Vice-President of the European Commission for the Euro & Social Dialogue, photographed at the Renaissance Harbour View Hotel in Wan Chai. 02DEC17 SCMP/ Xiaomei Chen (Photo by Chen Xiaomei/South China Morning Post via Getty Images)The European Union's trade chief on Wednesday warned against the "weaponization" of trade amid the latest ratcheting up of tensions between the U.S. and China. EU trade commissioner Valdis Dombrovskis told CNBC that he did not believe trade "protectionism" was the answer to heightened geopolitical tensions, but insisted that the bloc was willing to defend itself in the new trade environment. "The geopolitical landscape is changing, it's getting more fragmented, it's getting more conflictual, we see the weaponization of trade. So we need to equip ourselves also as the European Union to function in this more conflictual world," Dombrovskis told CNBC's Karen Tso.
Persons: Valdis Dombrovskis, 02DEC17, Xiaomei Chen, Chen Xiaomei, Dombrovskis, Karen Tso, Mario Draghi, Joe Biden, Katherine Tai Organizations: European Commission, South China Morning, Getty, U.S, CNBC, European Union, European Central Bank, U.S . Trade Locations: Wan Chai, South, China, EU, Pennsylvania, U.S
President Biden on Wednesday called for major increases to some tariffs on steel and aluminum products from China, speaking to members of a national steelworkers union in Pittsburgh as he vies with former President Donald J. Trump for votes in Northern industrial states. “These are strategic and targeted actions that are going to protect American workers and ensure fair competition,” Mr. Biden told a crowd of about 100 union members at the United Steelworkers, which endorsed him last month. “Meanwhile, my predecessor and the MAGA Republicans want across-the-board tariffs on all imports, from all countries, that could badly hurt American consumers.”The Biden administration has argued that a flood of low-cost exports from China is undermining American-made products — jeopardizing Mr. Biden’s push to expand U.S. manufacturing, a central focus of his economic agenda. In his speech, Mr. Biden said he would ask the U.S. trade representative, Katherine Tai, to increase tariffs to what White House officials said would be 25 percent on certain Chinese products that now face tariffs of 7.5 percent, or none at all, pending the outcome of an administration review of the China tariffs initially imposed under Mr. Trump.
Persons: Biden, Donald J, Trump, ” Mr, MAGA, , Biden’s, Katherine Tai Organizations: steelworkers union, United Steelworkers, MAGA Republicans, White, Mr Locations: China, Pittsburgh, Northern, American, U.S
The guest list also includes Director of National Intelligence Avril Haines, US Trade Representative Katherine Tai, US Ambassador to the United Nations Linda Thomas-Greenfield and White House chief of staff Jeff Zients. NBC News White House correspondent Kelly O’Donnell, who is the president of the White House Correspondents Association, will attend, as well as Washington Post columnist Josh Rogin. First lady Jill Biden chose Simon to perform at the state dinner because Kishida also “shares an appreciation” for his work, a White House official said. The state dinner for South Korean President Yoon Suk Yeol featured a Broadway star’s performance of Don McLean’s “American Pie” – a personal favorite of Yoon. It led to one of the iconic state dinner moments of the Biden presidency – Yoon picking up a microphone to serenade guests with a few lines from the song.
Persons: Bill Clinton, Hillary Clinton, Robert De Niro, Jeff Bezos, Fumio Kishida, Joe Biden, Kristi Yamaguchi, Tim Cook, Laurence Fink, Jamie Dimon, Brad Smith, Shawn Fain, Cecile Richards, Antony Blinken, Janet Yellen, Alejandro Mayorkas, Jennifer Granholm, Gina Raimondo, National Intelligence Avril Haines, Katherine Tai, United Nations Linda Thomas, Jeff Zients, CQ, Jerome Powell, Bill Nelson, Biden, Donald Trump, De Niro, Nelson, ” Nelson, Sen, Bill Hagerty, Trump, Rahm Emanuel, Kelly O’Donnell, Josh Rogin, Kamala Harris, Doug Emhoff, Kathy Hochul, Josh Shapiro, Tony Evers, Roy Cooper of, Mazie, Jeff Merkley, Ashley Biden, Howard Krein, Finnegan Biden, Naomi Biden Neal, Peter Neal, Paul Simon, Jill Biden, Simon, Kishida, , It’s, Yoon Suk, Don McLean’s, Yoon, – Yoon, CNN’s Arlette Saenz Organizations: CNN, Amazon, White, Japan’s, Apple, BlackRock, JPMorgan, Microsoft, United Auto Workers, Planned, Biden, Homeland, Senate, Energy, National Intelligence, US, United Nations, White House, Joint Chiefs, Staff, Federal, NASA, Tennessee Republican, NBC, White House Correspondents Association, Washington, Democratic, Gov, Pennsylvania, South Korean Locations: Japanese American, Greenfield, Cleveland , Ohio, Japan, New York, Tony Evers of Wisconsin, Roy Cooper of North Carolina, Hawaii, Oregon
Three Senate Democrats from auto manufacturing states on Thursday urged the Biden administration to hike import tariffs on Chinese electric vehicles to address national security risks, the latest push by lawmakers to protect the U.S. auto sector. Three Senate Democrats from auto manufacturing states on Thursday urged the Biden administration to hike import tariffs on Chinese electric vehicles to address national security risks, the latest push by lawmakers to protect the U.S. auto sector. "Artificially low-priced Chinese EVs flooding the U.S. would cost thousands of American jobs and endanger the survival of the U.S. automotive industry as a whole." Auto industry officials told Reuters last month Biden is considering hiking tariffs on Chinese EVs and the letter is the latest in growing pressure on the White House to take further steps to prevent Chinese vehicle imports. The senators also asked Commerce to focus on the threat from potential imports of "highly connected Chinese vehicles and high-risk China-controlled connected and autonomous technologies."
Persons: Biden, Gary Peters, Debbie Stabenow of, Sherrod Brown, Gina Raimondo, Katherine Tai, USTR Organizations: Reuters, Auto, . Trade, Commerce Locations: U.S, Debbie Stabenow of Michigan, Sherrod Brown of Ohio, China
Your next Tesla could be made by China
  + stars: | 2024-02-14 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +4 min
Elon Musk invited the suppliers to Mexico as part of plans for cheaper Teslas, Bloomberg reported. That move could be stoking concerns among US officials and EV makers over China's influence. China has a "highly organized, highly efficient supply chain," Venkatesh Prasad, chief innovation officer at the Center for Automotive Research, told Bloomberg. AdvertisementTesla, which also makes cars in the US, and other US-based EV makers may also be feeling the heat from competitors. Mary Lovely, a senior fellow at the Peterson Institute for International Economics, told Bloomberg.
Persons: Elon Musk, , Tesla's, Venkatesh Prasad, Tesla, stoke, Katherine Tai, Tai, Biden, EVs, China's, Tesla's Musk, Mary Lovely Organizations: Bloomberg, Service, Center for Automotive Research, Business, Trump, Chinese Communist Party, US Trade Rep, Nikkei, EV, Peterson Institute for International Economics Locations: Mexico, Monterrey, Shanghai, Mexican, Nuevo Leon, Austin, China, Beijing, Washington, DC, United States
WASHINGTON (AP) — President Joe Biden is nurturing economic ties this week with Asia, but he's not signing any trade deals at a regional summit in San Francisco. This fact — no trade deals — reveals a lot about the status of U.S. politics, the evolving global economy and the Biden administration's own ambitions. The trade pillar is being overseen by U.S. Trade Representative Katherine Tai, while the other three are under Commerce Secretary Gina Raimondo. WHY TRADE DEALS ARE UNPOPULARIt's simple: Voters say past trade deals caused the loss of factory jobs that hollowed out their hometowns and the Biden administration agrees. In a June speech, Tai criticized past trade deals.
Persons: Joe Biden, he's, , Biden, , , Robert Holleyman, ” Biden, Katherine Tai, Gina Raimondo, Matthew Goodman, Sen, Sherrod Brown, Brown, ” Brown, Republican Donald Trump, Democrat Hillary Clinton, Trump, Tai Organizations: WASHINGTON, U.S, Economic Cooperation, Biden, U.S . Trade, ., Greenberg Center, Geoeconomic Studies, Council, Foreign Relations, White, Republican, Democrat, Pacific, China . Trade, Trump, ” Trade, South Locations: Asia, San Francisco, IPEF, U.S, Tokyo, Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam, Ohio, Canada, Mexico, China
Russian President Vladimir Putin speaks during his press conference at the Konstantin Palace on July 29, 2023 in Saint Petersburg, Russia. Russian media have already reveled in pouring cold water on the Asia-Pacific Economic Cooperation (APEC) summit where Xi and Biden are due to meet Wednesday. Russian President Vladimir Putin was not invited due to U.S. sanctions so Deputy Prime Minister Alexei Overchuk is representing Russia at the summit. A range of Russian newspapers including Kommersant, Izvestia, Argumenty i Fakty, Nezavisimaya Gazeta and Komsomolskaya Pravda did not feature any news on the APEC summit or Xi-Biden talks. China's President Xi Jinping and U.S. President Joe Biden at the G20 Summit in Nusa Dua on the Indonesian island of Bali on Nov. 14, 2022.
Persons: Vladimir Putin, Konstantin, Xi Jinping, Joe Biden, Xi, Biden, Katherine Tai, Tai, David Paul Morris, Xi's, Alexei Overchuk, Dmitry Peskov, Kamala Harris, Kent Nishimura, Komsomolskaya, Putin, — Xi, Sergei Guneyev, Ian Bremmer, Saul Loeb Organizations: Getty, U.S, Economic Cooperation, Novosti, APEC, U.S . Trade, Russian Federation, San Francisco International Airport, American, Bloomberg, Getty Images Bloomberg, Israel, Kremlin, SAN FRANCISCO, Merchant Exchange Club, Tass, Kommersant, Izvestia, Gazeta, Komsomolskaya Pravda, Sputnik, AFP, West, Analysts, Eurasia Group, China's, Afp Locations: Saint Petersburg, Russia, Russian, San Francisco, China, Beijing, Washington, Moscow, Asia, United States, San Francisco , California, Ukraine, Pacific, U.S, CALIFORNIA, Taiwan, Nusa Dua, Indonesian, Bali
[1/2] U.S. Trade Representative Ambassador Katherine Tai speaks during an APEC Ministerial Meeting (AMM) Opening Session in San Francisco, California, U.S., November 15, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsSAN FRANCISCO, Nov 15 (Reuters) - China is objecting to a U.S. proposal for Asia Pacific Economic Cooperation members to incorporate sustainability and inclusivity into their trade and investment policies, a source briefed on the negotiations said on Wednesday. Talks on the issue were continuing at the APEC summit in San Francisco to try to find language that the group's 21 member states could agree on, the source said. U.S. Trade Representative Katherine Tai told a trade-focused plenary meeting she hoped the proposal, dubbed by the Biden administration as the "San Francisco Principles for Integrating Inclusivity and Sustainability into Trade and Investment Policy" could be still be finalized. Nonetheless, I remain optimistic that economies will finalize the San Francisco Principles soon."
Persons: Katherine Tai, Brittany Hosea, Biden, Tai, Joe Biden, Xi Jinping, David Lawder, Jonathan Oatis Organizations: . Trade, REUTERS, FRANCISCO, Asia Pacific Economic Cooperation, APEC, San Francisco, Trade, Investment, European Union, Thomson Locations: San Francisco , California, U.S, China, San Francisco
[1/7] Chinese President Xi Jinping arrives at San Francisco International Airport to attend the APEC (Asia-Pacific Economic Cooperation) Summit in San Francisco, California, U.S., November 14, 2023. He is due to meet U.S. President Joe Biden at an undisclosed location in the San Francisco Bay Area on Wednesday morning and then attend the annual summit of the Asia Pacific Economic Cooperation (APEC) forum. U.S. Trade Representative Katherine Tai, who with Blinken opened the APEC ministerial session, said the San Francisco meeting came at a time of "great uncertainty and challenges" for the region. As Biden arrived in San Francisco, shortly before Xi was due to land, dueling demonstrators greeted the U.S. president's motorcade from the airport. Earlier on Tuesday, a small aircraft flew circles over the APEC summit venue in downtown San Francisco, trailing a banner that read "END CCP FREE CHINA FREE HK FREE TIBET FREE UIGHUR," referring to China's treatment of Uyghurs, which the Biden administration calls "genocide."
Persons: Xi Jinping, Brittany Hosea, Antony Blinken, Xi, Joe Biden, Biden, Janet Yellen, China Nicholas Burns, Blinken, Katherine Tai, John Kirby, Nancy Pelosi, Michael Martina, Ann Saphir, David Brunnstrom, Trevor Hunnicutt, David Lawder, Chris Reese, Josie Kao Organizations: San Francisco International Airport, APEC, Economic Cooperation, REUTERS, FRANCISCO, U.S, San Francisco Bay Area, Asia Pacific Economic Cooperation, Air China, . Trade, San, White House, Biden, China, Chinese Communist Party, Thomson Locations: Asia, San Francisco , California, U.S, United States, Beijing, San Francisco Bay, Air, China, Washington, San Francisco, Israel, Gaza, Ukraine, Taiwan, Tibet, Hong Kong, CHINA, TIBET
UK Minister to Sign Trade Pact With Florida Governor DeSantis
  + stars: | 2023-11-14 | by ( Nov. | At A.M. | ) www.usnews.com   time to read: +3 min
By Andrea Shalal and Alistair SmoutWASHINGTON (Reuters) - British Business and Trade Secretary Kemi Badenoch said she will sign a memorandum of understanding with Florida Governor Ron DeSantis on Tuesday to boost trade and investment with the fourth largest U.S. state. Badenoch said the Florida deal was Britain's seventh with U.S. states, and Britain was also making progress in talks with the U.S. federal government on a broader trade agreement. Badenoch and DeSantis, a Republican presidential hopeful, will sign the deal in the Port of Jacksonville around midday (1700 GMT) Tuesday. Trade between Britain and Florida is already worth more than 5 billion pounds ($6.14 billion) a year, but could expand under the new memorandum. Together with Florida, they account for a combined gross domestic product (GDP) of 3.3 trillion pounds ($4 trillion).
Persons: Andrea Shalal, Alistair Smout WASHINGTON, Kemi Badenoch, Florida Governor Ron DeSantis, Badenoch, Katherine Tai, Rishi Sunak, Joe Biden, Donald Trump, Biden, DeSantis, Trump, Alistair Smout, Edwina Gibbs, Mark Heinrich Organizations: Business, Trade, Florida Governor, U.S, Reuters, . Trade, British, Britain, Republican, Trump, NASA Kennedy Space Center Locations: Florida, Britain, China, Badenoch, DeSantis, Port of Jacksonville, London, Indiana , North Carolina, South Carolina , Oklahoma , Utah, Washington, Texas , New York , California, Colorado, Illinois
NORTH KONAWE, SOUTHEAST SULAWESI, INDONESIA - AUGUST 03: In this aerial view - A view of nickel mining site on August 3, 2023 in North Konawe, Southeast Sulawesi, Indonesia. Estimates from the U.S. Geological Survey (USGS) showed that global nickel production grew 21% in 2022 alone. Indonesia holds the world's largest nickel reserves and leverages those reserves to attract investment in the battery supply chain, a report by the Center for Strategic and International Studies said. Indonesia alone will account for roughly half of global nickel supply growth through to 2025. As of 2020, Indonesia has 292 nickel mining permits, mostly in Sulawesi, as the island hosts most of the national nickel reserves, the same CSIS report said.
Persons: Ulet Ifansasti, Ifansasti, Joko Widodo, Joe Biden, Biden, Katherine Tai Organizations: U.S . Geological Survey, Center for Strategic, International Studies, CSIS, Getty, White, U.S, . Trade Locations: SULAWESI, INDONESIA, North Konawe, Southeast Sulawesi, Indonesia, U.S, Sulawesi, Central Sulawesi Province, United States
The Biden administration is still concerned about environmental, social and governance standards in Indonesia and is examining how a deal might work, the sources said. "There's a lot of work to do before we are able to formally announce negotiations on a critical minerals partnership," the person said. Indonesia does not have a free trade agreement with the United States. The only U.S. nickel mine is set to close in a few years, and the country has no nickel smelter, a risk to Biden's goal for the United States to lead in EV manufacturing. Many U.S. miners have said that the Biden administration should focus more on approving domestic projects than seeking international supply.
Persons: Joko Widodo, Joe Biden, Aditya Pradana, Biden, Katherine Tai, EVs, Talon, Trevor Hunnicutt, Ernest Scheyder, Fransiska, Grant McCool Organizations: United, Indonesia G20 Media, White, U.S, . Trade, Talon Metals, Tesla Inc, Thomson Locations: Rai Forest, Denpasar, Bali, Indonesia, Aditya Pradana Putra, WASHINGTON, United States, Washington, North America, China, North Dakota, Minnesota, Jakarta
When you work as a Big Tech lobbyist, there's a good chance you're already friends with someone in government. In 2022, 82.4% of Amazon lobbyists and 81.3% of Alphabet lobbyists previously held government jobs, according to data from OpenSecrets. "Big Tech uses its special revolving door access to furtively push for rigged trade policies," Warren wrote. The emails are limited to correspondence with Amazon and Google lobbyists and do not include communications with representatives of other tech companies. Big Tech critics say this access to policymakers is not granted to the public or civil-society groups, and that's why Warren and others have called for more transparency.
Persons: there's, Sen, Elizabeth Warren, Katherine Tai —, Warren, Tai, Andrea Boron, Mary Thornton, Karan Bhatia, Google's, Byun, Jillian DeLuna, Thornton, Bhatia, Kate Kalutkiewicz, USTR, Maria Langholz, Trump, Biden, Amazon's Thornton, Ethan Holmes, Joe Biden, Jonathan Ernst, That's, José Castañeda Organizations: Big Tech, United States Trade Representative, Google, Amazon, Amazon Web Services, YouTube, Amazon Prime, Spotify, Canada's, Demand, Prosperity, Reuters Locations: Big, Asia, China, Bali, Tokyo
U.S. President Joe Biden delivers remarks on infrastructure during an event at the Amtrak maintenance facility in Bear, Delaware, U.S., November 6, 2023. REUTERS/Leah Millis/File Photo Acquire Licensing RightsWASHINGTON, Nov 8 (Reuters) - A bipartisan group of U.S. lawmakers want the Biden administration to hike tariffs on Chinese-made vehicles and investigate taking steps to prevent Chinese companies from exporting to the United States from Mexico. Representative Mike Gallagher, a Republican who chairs a select committee on China, and the panel's top Democrat, Raja Krishnamoorthi and two other lawmakers urged U.S. Trade Representative Katherine Tai in a letter to boost the current 25% tariff on Chinese vehicles. "It is critical that tariffs on (Chinese) automobiles not only be maintained but also increased to stem the expected surge in (Chinese) imports," they wrote in the previously unreported letter. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden, Leah Millis, Biden, Mike Gallagher, Raja Krishnamoorthi, Katherine Tai, David Shepardson Organizations: Amtrak, REUTERS, Rights, Republican, U.S, Trade, Thomson Locations: Bear , Delaware, U.S, United States, Mexico, China
WASHINGTON, Nov 6 (Reuters) - A trade program that grants exports from qualifying African countries duty-free access to the U.S. market should be extended by 16 years, said Democratic Senator Chris Coons, a leading voice on U.S.-Africa policy. African countries want a 10-year renewal of the pact ahead of the 2024 U.S. election. President Joe Biden's administration is also seeking the program's reauthorization but has called for certain reforms. "My AGOA Renewal Act would extend this program, incentivizing investments that will create jobs, bolster economic development, and strengthen our standing in the region," Coons said in a statement. Ben Cardin, the committee's chairman, supports the program's reauthorization, but believes there should be changes to how eligibility criteria is applied, an aide said.
Persons: Chris Coons, Joe Biden's, Coons, Ben Cardin, James Risch, Katherine Tai, Makini Brice, Paul Simao, Josie Kao Organizations: Senate Foreign Relations, Continental Free Trade, Reuters, Biden, United, . Trade, Thomson Locations: U.S, Africa, United States, Washington
First launched in 2000, the African Growth and Opportunity Act (AGOA) grants exports from qualifying African countries duty-free access to the United States - the world's largest consumer market. African countries are pushing for an early 10-year extension without changes to reassure businesses and investors. A recent push in the U.S. Senate is aiming to pass a quick AGOA renewal. 'FORWARD-LOOKING VISION'Over $10 billion worth of African exports entered the United States duty free last year under the programme. More than 80% of duty-free non-petroleum AGOA exports, for example, have come from just five countries - South Africa, Kenya, Lesotho, Madagascar and Ethiopia - in recent years.
Persons: Antony Blinken, Jonathan Ernst, Joe Biden's, Biden, Blinken, Katherine Tai, Cyril Ramaphosa, Harriet Ntabazi, We've, Ntabazi, Carien du, Tannur Anders, Alexander Winning, Nick Macfie Organizations: Hamas, Joint Base Andrews, REUTERS, U.S . Senate, United States Congress, United, U.S . International Trade Commission, U.S . Trade, U.S ., Central African, Thomson Locations: Israel, Gaza, Washington, East, Asia, Joint Base Andrews , Maryland, U.S, JOHANNESBURG, United States, Africa, China, Johannesburg, South Africa, Kenya, Lesotho, Madagascar, Ethiopia, Gabon, Niger, Uganda, Central African Republic, AGOA, Carien du Plessis
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