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Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and more
The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. The White House said the tariff hikes were necessary to protect American industries from unfair competition. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. The import tax on Chinese solar cells will double, from 25% to 50%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. The president also directed U.S. Trade Representative Katherine Tai to more than triple the tariff ... (full story)
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- May 14, 2024 9:51am May 14, 2024 9:51am
- ffghost
- | Joined Mar 2024 | Status: Member | 312 Comments
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From bls.gov|May 14, 2024|27 commentsThe Producer Price Index for final demand rose 0.5 percent in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices declined 0.1 ...
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From usnews.com|May 14, 2024A pair of economic reports this week will show whether inflation is holding strong, receding somewhat or even perhaps increasing as 2024 progresses. First up will be the producer ...
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From federalreserve.gov|May 14, 2024Thank you, Jack. And thank you to the Federal Reserve Bank of New York for hosting this timely event. It is good to be back at the New York Fed where I conducted research on financial institutions as a dissertation fellow over two decades ago. Your recent research on the Community Development Financial Institution (CDFI) industry is a welcome prelude to today's conversation. A lot of thoughtful, interesting research is also being produced by other Reserve Banks on this topic, some of which I will highlight today. Let me start by saying it is a great honor for me to be among those doing this important work every day. You help to encourage and strengthen the financially and economically vulnerable, and to create economic opportunity that benefits them and our broader economy. CDFIs are a subject I know something about, and care about a great deal. I personally know the impact these financial institutions have in communities, having previously served on the board of Rende Progress Capital, a CDFI in Grand Rapids, Michigan. post: Fed's Cook doesn't comment on monetary policy https://t.co/Z5w9tfO5Dw
From conference-board.org|May 14, 2024|1 commentThe Conference Board Leading Economic Index® (LEI) for the United Kingdom dipped slightly by 0.1 percent in March 2024 to 76.0 (2016=100), after also declining by 0.1 percent in ...
From money.usnews.com|May 14, 2024The International Monetary Fund (IMF) said Japan's commitment to allow the yen to move flexibly will help the central bank focus on achieving price stability, warning against ...
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- Posted: May 14, 2024 8:45am
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 3,108
