Biden wants to hike tariffs on imports of Chinese steel and aluminum
Chinese steel imports account for less than 1% of U.S. demand, officials told reporters. But Chinese subsidies and programs mean its steel prices are 40% lower than U.S. prices, and the Biden administration is worried that there could be a surge of exports.
Related:
Trump’s tariffs are equivalent to one of the largest tax increases in decades
New Democrat Coalition Trade Task Force Statement on Section 301 Tariffs Announcement
During his second term as the president of the Bolivarian Republic of Venezuela, Nicolás Maduro has achieved fundamental milestones to overcome the crises generated by the far-right opposition and the United States. These achievements have led the country towards political, economic, and social stability. They have strengthened his leadership within Chavismo and have positioned him as the natural candidate to represent the Bolivarian Revolution in the presidential election scheduled for July 28 this year.
Venezuela: 5 Strategic Reasons for Nicolás Maduro’s Presidential Candidacy
Vietnam’s “bamboo diplomacy” has allowed Hanoi to carefully enter strategic partnerships with the U.S. and China while maintaining its own independence and security, its foreign minister said Tuesday at a Brookings Institution event.
Hanoi’s ‘Bamboo Diplomacy’ Preserves Vietnamese Independence, Says Foreign Minister
The Philippines is going all in with the United States and bracing itself against lost Chinese largesse. President Ferdinand Marcos Jnr will fly to Washington next month to attend the US-Japan-Philippines trilateral leaders’ summit. It will be his fourth visit to the US since taking office as president less than two years ago.
South China Sea: Philippines must softly manage disputes or miss out economically
Previously:
PH: Compared To China, US Trade, Investment Offers Laughable + More
The bridge collapse Tuesday that shut the Port of Baltimore and closed a major highway will cause weeks or months of transportation disruptions in the Mid-Atlantic region and accelerate a shift of cargo to the US West Coast as importers and exporters try to avoid potential bottlenecks at trade gateways from Boston to Miami.
Baltimore Bridge Fallout to Extend Coast-to-Coast in Cargo Shift
Trump invites Chinese to build US auto plants
Trump’s offer to China went unreported in virtually all media. Mainstream US media attacked the former president for using the term “bloodbath” to describe the impact of prospective Chinese imports on the American auto industry, implying that he had threatened actual violence if he was not elected. But the transcript of his remarks at a Dayton, Ohio, rally makes clear that he was referring to industry conditions.
Compared To China, US Trade, Investment Offers Laughable
On the other hand, the BRI (Belt and Road Initiative) donations of China alone that are reality– Chico River Irrigation Pump, Davao Bucana Bridge, Estrella-Pantaleon and Binondo-Intramuros Bridge, the ongoing Kaliwa Dam Project that would provide 600/mld (million liters per day) to drying Metro-Manila and hundreds other projects– already count billions of dollars, not to mention private investments like DITO Telecoms’ $ 3.9 billion investment in our telecom sector.
Related:
Read More »For charts, see the original post.
Today Russians are set to head to the polls for their country’s presidential election over three days – with only one expected outcome. Incumbent President Vladimir Putin will win comfortably. The Russian president is elected by direct popular vote. If no candidate receives over 50% of the vote, then a second round is held between the two most popular candidates three weeks later. It’s the first time that multi-day voting has been used in a Russian presidential election, as well as the first allowing voters to cast ballots online.
…
Russia’s war economy is holding up. Wages have soared by double digits, the rouble is relatively stable and poverty and unemployment are at record lows. For the country’s lowest earners, salaries over the last three quarters have risen faster than for any other segment of society, clocking an annual growth rate of about 20%.
The government is spending massively on social support for families, pension increases, mortgage subsidies and compensation for the relatives of those serving in the military.
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GDP data for China, the U.S., and the other G7 countries for the year 2023 has now been published. This makes possible an accurate assessment of China’s, the U.S., and major economies performance—both in terms of China’s domestic goals and international comparisons. There are two key reasons this is important.
China’s economy is still far out growing the U.S. – contrary to Western media “fake news”
Ms. Cat’s Chronicles 
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