Yellen says lifting China tariffs “premature”
“‘The tariffs were put in place because we had concern with unfair trade practices on China’s side — and our concerns with those practices remains,’ she said. ‘So perhaps over time this is an area where we could make progress, but I would say it’s premature to use this as an area for de-escalation, at least at this time.’”
[Bloomberg]
Importers urge federal circuit to reverse China tariffs
“The importers argued Monday that although the law gives weight to the president's direction in setting tariffs, the trade court judges correctly recognized that the USTR cannot use this to get around its obligation to respond to significant issues raised in public comments. However, it still let the tariffs stand, only asking the agency to elaborate on its decision.”
[Law360]
Is Mexico the new China? Nearshoring and reshoring experts weigh in
“It’s easier to monitor and meet ESG standards in the U.S. and vicinity versus trying to manage something in a country where you don’t speak the language, you don’t understand the local customs and you don’t really understand fully how the business is done.”
[Sourcing Journal]
China no longer top exporter to U.S. as trade rift widens
“The push to reduce reliance on China has not been painless for the U.S., driving up prices for consumers. But the idea of reducing Beijing-related risk has support from lawmakers on both sides of the aisle, and ‘friendshoring’ -- relocating supply chains to friendly countries -- has been gaining momentum.”
[Nikkei]
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