Tag: International Trade and World Market

Wonking Out: Money Isn’t Everything

On Wednesday, Jerome Powell, the chair of the Federal Reserve, testified before Congress — always a chancy enterprise, because some politicians have strong opinions about monetary policy that have little to do with expertise or evidence. Sure enough, one Republican member of the House advised Powell to read Milton Friedman — which one suspects he […]

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South African Company Nears License to Sell J. & J. Covid Shot Across Africa

The South African drug maker Aspen Pharmacare announced on Tuesday that it was finalizing the first agreement to control production of a Covid-19 vaccine in Africa. The deal, with Johnson & Johnson, would allow Aspen to bottle and market the Johnson & Johnson vaccine across Africa under the brand name Aspenovax. Aspen would then have […]

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Does Europe’s Lower Inflation Hold Lessons for America?

This morning Eurostat, the European statistical agency, announced its “flash” estimate of November inflation for the euro area. It came in well above expectations — a 4.9 percent rise in prices over the past year. Still, this was lower than U.S. inflation: In October our consumer prices were up 6.2 percent over the year. And […]

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Counterfeit Covid Masks Are Still Sold Everywhere

The domestic industry’s woes extend beyond the consumer mask market. In recent months, the medical supply giants that serve the country’s large hospital systems have eagerly resumed buying lower cost protective equipment from overseas. The companies, among them McKesson, Henry Schein and Cardinal Health, have been lobbying the Biden administration to retain a tariff exemption […]

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A Wine Rack on Rails? U.K. Businesses Seek Solutions to Shortages.

TILBURY, England — It is called the “wine train,” and every weekend it rumbles out of the port of Tilbury, east of London, on a 100-mile journey to a depot in central England. It looks pretty much like any other freight train, but it carries an unusual cargo: Almost 650,000 bottles of wine. This 32-car, […]

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End the Trump-Biden Tariffs

Stoughton opened its Evansville plant in 1993 to build the intermodal containers and chassis that are the basic infrastructure of global trade. It prospered until the early 2000s, when China International Marine Containers started offering chassis in the United States at a price lower than what Stoughton paid for raw materials. The Wisconsin company largely […]

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The Inflation Miscalculation Complicating Biden’s Agenda

WASHINGTON — President Biden’s top economists have worried from the beginning of his administration that rising inflation could hamstring the economy’s recovery from recession, along with his presidency. Last spring, Mr. Biden’s advisers made a forecasting error that helped turn their fears into reality, a calculation that spread to this week’s decision to renominate the […]

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Inflation Batters Pakistan and Puts Pressure on Imran Khan

Muhammad Nazir canceled his daughter’s wedding. He parks his motorcycle at home and walks to his shop. Many of his shelves are empty because he can’t afford to stock the same supply of candy, soft drinks and cookies that he once did. A growing number of his customers can’t buy his snacks anyway. The global […]

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Inflation Headlines Don’t Tell the Whole Story

Early this year some prominent economists warned that President Biden’s American Rescue Plan — the bill that sent out those $1,400 checks — might be inflationary. People like Larry Summers, who was Barack Obama’s top economist, and Olivier Blanchard, a former chief economist of the International Monetary Fund, aren’t unthinking deficit hawks. On the contrary, […]

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The Supply-Chain Crisis Is a Labor Crisis

From Los Angeles to Felixstowe, England; to Dubai, United Arab Emirates; to Shenzhen, China, the world is witnessing delays and shortages of everything from toys to turkeys. At the root of this crisis is a transport sector that is buckling under the strain of Covid-era conditions. Workers who drive the trucks, fly the planes and […]

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How Leather Seats in Luxury SUVs Fuel Amazon Deforestation

JBS disagreed with the criteria used by the prosecutors and agreed to improve its monitoring system, block suppliers flagged by the research and donate $900,000 to the state in response to the audit. To get a sense of scale of the ranches operating in vulnerable areas across the Brazilian Amazon, The Times overlaid government maps […]

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Biden Sells Infrastructure Improvements as a Way to Counter China

“I truly believe that 50 years from now,” he said, “historians are going to look back at this moment and say, ‘That’s the moment America began to win the competition of the 21st century.’” Brian Deese, the director of Mr. Biden’s National Economic Council, said in an interview that the law would increase competitiveness and […]

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U.S.-China Relations: What to Know

[Follow live updates on the upcoming meeting between President Biden and China’s leader, Xi Jinping.] No relationship is shaping the planet more. And no relationship seethes, across such a wide and consequential set of issues, with more tension and mistrust. The United States and China are profoundly at odds on how people and economies should […]

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With Gas Prices High, Calls Grow to Tap Strategic Oil Reserve

As gasoline prices and inflationary pressures have climbed in recent weeks, calls have been growing in Congress for the Biden administration to tap into the nation’s Strategic Petroleum Reserve. The Senate majority leader, Chuck Schumer, added his voice over the weekend. “We need immediate relief at the gas pump, and the place to look is […]

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Crunch at Ports May Mean Crisis for Family Farms

It’s just 60 miles from El Dorado Dairy in Ontario, Calif., to the nation’s largest container port in Los Angeles. But the farm is having little luck getting its products onto a ship headed for the foreign markets that are crucial to its business. The farm is part of one of the nation’s largest cooperatives, […]

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Europe, Taiwan Inch Closer as Distrust of Beijing Grows

TAIPEI, Taiwan — European nations had long kept Taiwan at arm’s length, wary of provoking Beijing, which opposes contact with the island it claims as its territory. But an unusual flurry of diplomatic activity suggests a subtle shift may be underway in Europe, driven in part by the region’s growing frustration over China’s aggressive posture. […]

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The U.S. Economy Is Booming. Why Do Americans Feel Bad?

By the usual measures, the U.S. economy has been booming this year. Employment has risen by more than five million since January; a record number of Americans say this is a good time to find a quality job, a sentiment reflected in the willingness of an unprecedented number of workers to quit (yes, high quit […]

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The Developing World Is Falling Short on Emissions Reductions

Nowhere is cutting carbon emissions more crucial than in the world’s emerging and developing economies, where the thirst for energy, and the output of carbon dioxide, is rising the fastest. New power plants there will lock in the trajectory of global warming for decades to come. But here’s the big problem: Fifty-two percent of new […]

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Bitterness Over Brexit Lies Behind Fraying France-U.K. Relations

LONDON — On its face, the nasty squabble that broke out last week between Britain and France was over the fishing rights of a few dozen French trawlers plying British waters off the island of Jersey. As with many rivalrous neighbors, however, the root causes of the feud run far deeper. Britain and France have […]

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European Steel Plan Shows Biden’s Bid to Merge Climate and Trade Policy

WASHINGTON — President Biden has promised to use trade policy as a tool to mitigate climate change. This weekend, the administration provided its first look at how it plans to mesh those policy goals, saying the United States and the European Union would try to curb carbon emissions as part of a trade deal covering […]

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What Is Going on With China is Not a ‘Cold War’

A new idea is gaining currency among some politicians and policymakers in Washington: The United States is in a “Cold War” with China. It’s a bad idea — bad on history, bad on politics, bad for our future. The Biden administration has wisely pushed back on the framing. But the president’s actions suggest that his […]

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How Car Shortages Are Putting the Economy at Risk

Turmoil in the auto industry, a powerful engine of the global economy, is threatening growth and sending tremors through companies and communities that depend on carmakers for money and jobs. For every car or truck that does not roll off an assembly line in Detroit, Stuttgart or Shanghai, jobs are in jeopardy. They may be miners […]

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Readers’ Farewell to Nicholas Kristof, ‘One of a Kind’

To the Editor: Re “A Farewell to Readers, With Hope,” by Nicholas Kristof (Opinion guest essay, Oct. 31): Considering that my level of cynicism on the human race is rising by the day, this farewell essay by Mr. Kristof could not have come at a better time. I have long enjoyed reading his columns, but […]

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Global Shipping Delays Loom Over Retailers for the Holidays

WASHINGTON — It was 73 days until Christmas, and the clock was ticking down for Catch Co. The Chicago-based fishing company had secured a spot to sell a new product, an advent calendar for fishing enthusiasts dubbed “12 Days of Fishmas,” in 2,650 Walmart stores nationwide. But like so many products this holiday season, the […]

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Biden Rolls Back Trump’s Metal Tariffs On European Union

WASHINGTON — The Biden administration announced on Saturday that it had reached a deal to roll back tariffs on European steel and aluminum, an agreement that officials said would lower costs on goods like cars and washing machines, reduce carbon emissions, and help get supply chains moving again. The deal, which comes as President Biden […]

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Pressure Grows on G20 Nations to Get Covid Vaccines to the Poor

ROME — From the opening moments of the Group of 20 summit on Saturday, the leaders of the world’s largest economies wanted to send a strong message about ending the coronavirus pandemic: During an unconventional group photograph, they were joined on the dais by doctors in white coats and first responders from the Italian Red […]

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A Global Tax Deal Is at Hand. Here’s How It Would Work.

WASHINGTON — Leaders of the Group of 20 nations are set to sign off on the most sweeping overhaul of the international tax system in a century when they gather in Rome this weekend, ushering in a 15 percent global minimum tax and changes to how governments can impose levies on large, profitable multinational companies. […]

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Josh Hawley: To Solve Our Supply Chain Crisis, Rethink Trade

Patrick Healy, the Deputy Opinion Editor, wrote about the process behind publishing this guest essay in an edition of the Opinion Today newsletter. America is mired in a supply chain crisis. Imports are slow to arrive, items on store shelves are becoming more scarce and prices are rising. President Biden’s reckless spending policy is the […]

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In U.S.-China Competition, Taiwan’s Voice Must Be Heeded

So when Mr. Biden unambiguously said the United States was committed to defending Taiwan, the White House quickly clarified there was “no change” in its policy. Whether Biden simply misspoke or was signaling his resolve to China, the suggestion of a shift to strategic clarity prompted a cautious response from Taiwan: The president’s office cautioned […]

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U.S. Economy Slowed in Third Quarter as Delta Variant Surged

Economic growth slowed sharply over the summer as supply-chain bottlenecks and the resurgent pandemic restrained activity at stores, factories and restaurants. Gross domestic product, adjusted for inflation, grew 0.5 percent in the third quarter, the Commerce Department said Thursday. That was down from 1.6 percent in the second quarter, dashing earlier hopes that the recovery […]

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What ‘Dune’ Gets Right that ‘Foundation’ Doesn’t

The blogger John Rogers once noted that there are two novels that can shape the lives of bookish 14-year-olds: “Atlas Shrugged” and “The Lord of the Rings.” One of these novels, he asserted, is a childish fantasy that can leave you emotionally stunted; the other involves orcs. Well, I was a bookish 14-year-old, but my […]

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