Despite the diffusion of drug production globally, a full three-quarters of spending on medicines in the United States is on products that are manufactured domestically, by both American and foreign companies.
The few domestic companies that may (or may not) benefit from special treatment shouldn’t outweigh the costs for the rest of the economy.
The problem steels tariffs are supposed to address isn’t receiving much attention – a number of countries are undeniably engaging in unfair and even predatory trade practices in the steel and aluminum sectors which are damaging to their trade partners.
When it comes to steel tariffs, we could be in a trade war — with ourselves.
Europe, North America, Japan and Russia are the biggest traditional markets for snowboarding. As the Olympic Winter Games kick off, the industry is hoping new events and even more spectacular tricks will provide “big air” to the sport’s popularity, particularly in Asia.
The operator’s manual for the popular entry-level Honda Civic is 601 pages. It doesn’t fit in the glove box; it comes in the form of an electronic document to download, which seems appropriate considering the number of electronic components in the car. High-tech, high-cost, components are lightweight and positioned to move long distances on a just-in-time basis.
Every January, the global automobile industry gathers in the Motor City for the North American International Auto Show (NAIAS). In a celebration of ingenuity, companies display futuristic concept cars, present cutting-edge technologies, and promote their latest offerings.
Changes are underway which could substantially diminish the relevance of export-led development strategies for countries in East Asia.
The global production of goods can be charted by each stage at which activity occurs and value is added. The great news is that Americans excel at the activities on the production curve that require the most creativity and know-how, and that generate the most profit.
Most products today are the result of creative, physical, and intellectual efforts by people in different roles across the globe—they are designed in one country, their materials are procured in another, their components may be made and assembled somewhere else. Their “Made in…” labels only tell us the country where that product last underwent some significant change or “substantial transformation”. That’s just a snapshot of one stop on their journey