Posted on Feb 7, 2022
The House passed a bill aimed at boosting U.S. competitiveness with China
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https://www.npr.org/2022/02/04/ [login to see] /u-s-house-passes-china-competition-bill
The House passed a bill Friday that Democrats say will increase U.S. semiconductor manufacturing and boost American competitiveness with China.
The America Competes Act passed 222-210, largely along party lines.
House Speaker Nancy Pelosi, D-Calif., said the bill "will ensure that America is preeminent in manufacturing, innovation and economic strength and can outcompete any nation."
The bill has a number of provisions, including $52 billion to make chips, $45 billion to improve supply chains for critical items and $160 billion for scientific research and innovation.
The House passed a bill Friday that Democrats say will increase U.S. semiconductor manufacturing and boost American competitiveness with China.
The America Competes Act passed 222-210, largely along party lines.
House Speaker Nancy Pelosi, D-Calif., said the bill "will ensure that America is preeminent in manufacturing, innovation and economic strength and can outcompete any nation."
The bill has a number of provisions, including $52 billion to make chips, $45 billion to improve supply chains for critical items and $160 billion for scientific research and innovation.
The House passed a bill aimed at boosting U.S. competitiveness with China
Posted from npr.orgPosted in these groups: U.S. House of Representatives
International Trade
China
Manufacturing
Business
International Trade China Manufacturing Business
Posted 3 y ago
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While I'm all for making America less dependent on China there are some things in the bill that could dramatically impact our economy. Currently China's de minimis level is a mere $8. That means any company shipping a product to China valued at more than $8 must pay a duty. However a Chinese good priced as high as $799 can enter the U.S. duty-free. A section of this bill removes the current limit. This will have a dramatic effect on the cost of Chinese imports which will cause the price of common products to skyrocket, further fueling inflation.
With that said current shipments falling under the de minimis limit are exempt from many customs & border protection laws. This has to addressed as China is importing all sorts of dangerous goods. Its cheap for a reason.
https://theweek.com/articles/498611/made-china-seven-toxic-imports
https://fashionunited.uk/news/business/5-main-hazardous-chemicals-in-clothing-from-china-named/ [login to see] 678
With that said current shipments falling under the de minimis limit are exempt from many customs & border protection laws. This has to addressed as China is importing all sorts of dangerous goods. Its cheap for a reason.
https://theweek.com/articles/498611/made-china-seven-toxic-imports
https://fashionunited.uk/news/business/5-main-hazardous-chemicals-in-clothing-from-china-named/ [login to see] 678
Made in China: Seven toxic imports
In recent years, Chinese-made products from toothpaste to drywall have been recalled for containing toxic — even radioactive — chemicals
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