The casualties of America’s loss of glassware manufacturing to China
... the U.S. glass industry lost almost 40,000 manufacturing jobs between 2000 to 2008. At the same time, China’s share of the U.S. market rose from 3% to 31%.
The casualties of America’s loss of glassware manufacturing to China
... the U.S. glass industry lost almost 40,000 manufacturing jobs between 2000 to 2008. At the same time, China’s share of the U.S. market rose from 3% to 31%.
The Wall Street Journal doesn't mention it here.
This guy's been working for the company for 10 years and he's still renting.
... Daniel Campbell, who maneuvers steel auto parts around a Stellantis factory north of Detroit, says he and many of his colleagues are worried about layoffs.
“I’m scared,” he said from his brick bungalow on the west side of Detroit, which he rents with two roommates. “We’re complaining about gas and eggs now. Who is going to be able to buy these cars that are already $80,000, and then you make it $90,000?”
The 46-year-old UAW member, who makes about $30 an hour, and one of his roommates have talked about trimming their spending, including eating out less and cutting clothing and electronics purchases.
“There’s going to come a time where we’re not going to be able to go and spend,” he said.
At work, the assembly lines have been running faster in recent weeks as Stellantis has tried to stockpile parts ahead of the tariffs, Campbell said. He and his co-workers are running out of room to store the parts. ...
CNBC doesn't even hide the fact.
The Biden-Harris administration announced plans Tuesday to provide up to $750 million in direct funding to Wolfspeed, with the money supporting its new silicon carbide factory in North Carolina that makes the wafers used in advanced computer chips and its factory in Marcy, New York.
Wolfspeed’s use of silicon carbide enables the computer chips used in electric vehicles and other advanced technologies to be more efficient. The North Carolina-based company’s two projects are estimated to create 2,000 manufacturing jobs as part of a more than $6 billion expansion plan. ...
The new Wolfspeed facility in Siler City could be a critical symbol in this year’s election, as it opened earlier this year in a swing state county that is undergoing rapid economic expansion in large part due to incentives provided by the Biden-Harris administration. ...
Wolfspeed CEO Gregg Lowe told The Associated Press that the United States currently produces 70% of the world’s silicon carbide — and that the investments will help the country preserve its lead as China ramps up efforts in the sector.
Lowe said “we’re very happy with this grant” and that the Commerce Department staff awarding funds from the 2022 CHIPS and Science Act was “terrific.”
Democrats are more than willing to hand Joe Biden slush money to buy votes, but $25 billion for a wall? No way.
Bloomberg doesn't even hide it:
(Bloomberg) -- President Joe Biden said his $20 billion award to Intel Corp. demonstrated his investments in US industries that had withered under Donald Trump’s tenure, touting a flurry of government spending he hopes will help him defeat his Republican rival in a general-election rematch. ...
Biden trails Trump in several crucial states, including Arizona, as voters remain skeptical of the president’s handling of the economy. Biden is responding by using his bully pulpit, as well as federal dollars, in states to show the public the results of his plans. The president said Wednesday’s announcement would support 10,000 manufacturing jobs, including 3,000 in Phoenix. ...
Intel is the first company to land a preliminary funding deal from the Chips Act for advanced manufacturing facilities. The law provided $39 billion in grants, plus loans and guarantees worth $75 billion to persuade companies to build factories on US soil and reverse a decades-long shift of semiconductor production to Asia.
. . . with inflation still high, interest rates on goods stubbornly
through the roof and the housing market hobbling, Biden’s handling of
the economy takes hit after hit in polls. Voters say they felt better
off financially under his predecessor — whom he will likely meet again
in the 2024 general election — leaving Democrats to suggest it’s time
for the Biden campaign to change its game on the matter. ...
"We’re working every day to show the American people what President Biden and Congressional Democrats have delivered by lowering prescription drug prices, creating manufacturing jobs, and rebuilding our roads and bridges,” said Michael Kikukawa, assistant White House press secretary.
“That’s Bidenomics, and recent elections have shown that Americans prefer it to trickle-down MAGAnomics. We will continue reaching out to the portion of Americans who are not yet aware of those incredibly popular accomplishments,” he said.
Quoted here at The Hill.
US Chamber Backs China's WTO Entry
:
Steve Van Andel, the newly elected chairman of the US Chamber of Commerce, said on Monday that he was looking forward to China joining the World Trade Organization (WTO) sometime before the end of this year. He said this will pave the way for permanent normal trade relations between China and the United States.
"For US business, one of the best things that can happen to help confidence in the Chinese market is China becoming part of the WTO," Andel said in an interview with China Daily.
His remarks come at a time that China is hoping to enter the world trade body. The country hopes to join before a WTO ministerial meeting in Qatar between November 9 and 13.
China has concluded separate agreements with the United States and the European Union, the world's two top trading powers, in the last few weeks, promoting its WTO membership.
Although the US Congress last year voted for Permanent Normal Trade Relations (PNTR) between China and the United States, it still reviews its trade policy towards China every year until the country actually becomes part of the WTO.
"The chamber is already actively supporting normal trade relations with China again." Andel said.
The chamber, the world's largest commerce association representing 3 million US companies and 3,000 state and local chambers, has been committed to lobbying the US Congress to normalize trade relations with China.
He said he would go back to Congress soon after his visit to China to lobby for normal trade relations with China again.
A normal trade relation between China -- potentially the world's largest market with 1.3 billion consumers -- and the United States is very important to businesses in both countries, he said.
Last year, the trade volume between the two nations amounted to US$74.5 billion.
He said China's WTO entry would certainly benefit "not only better relations, but also more trade between the two markets.''
Andel said he would carry the same message during his talks with the Chinese leaders and government officials, including President Jiang Zemin over the next couple of days.
Andel will lead a US business delegation to China in September to attend a meeting organized by China's Ministry of Foreign Trade and Economic Cooperation.
"I will also next year travel around the United States again, probably to 50 to 60 different local chambers talking about the importance of trade with China to US and Chinese businesses,'' he said.
Andel, chairman of US-based Amway, the global consumer goods giant, said China's WTO accession and normal trade relations between China and United States were expected to boost his company's business in China.
Amway, which has invested more than US$100 million in China, aims to increase its business in the country to 10 percent of its global turnover in a few years from the current level of 5 percent.
(Chinadaily.com.cn 07/04/2001)