Do the numbers in Trump’s ‘phase one’ trade deal work? US critics worry they don’t
“Trade lawyers and experts said companies long held hostage by the trade war want to know when tariffs will decline to 7.5 per cent from 15 per cent, whether they will be able to collect a refund for duties they have already paid, whether they will receive interest on the reversed duties – done in other cases where Customs wrongfully has collected too much – and in which quarter they would be able to record it on their books. ‘We’re talking billions of dollars with all this,’” said ST&R’s Nicole Bivens Collinson.
[South China Morning Post]
China delays tariffs on U.S. autos, other goods in trade deal
“Beijing had planned to impose 25% duties on American-made autos on Sunday, which would have raised the total charge to 40%. … Other goods were targeted for 10% and 5% penalties.”
Tech giants accused of relying on child labor at cobalt mines
“Cobalt is a key ingredient for the rechargeable batteries that power smartphones and electric cars. The companies are accused of ‘aiding and abetting’ dangerous mining conditions with their growing cobalt demand, according to the federal class action complaint filed in U.S. District Court for the District of Columbia.”
EU plans world's first carbon border tax on emission-heavy imports
“[A] carbon border tariff would be difficult to implement for three reasons: 1) It will be extremely hard to calculate the so-called ‘carbon content’ of products made overseas; 2) it will lead to increased prices for imported products, which would be unpopular among voters and potentially drive up inflation; and 3) import tariffs tend to lead to trade wars that destabilise the global economy.”
Copyright © 2023 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.