A study shows that consumers face higher costs without clear offsetting benefits.
JACKSON HOLE: US trade has shifted away from China due to policies enacted by the Biden and Trump administrations, but US reliance on China-linked supply chains has not necessarily been reduced and consumers have faced higher costs, according to new research presented today at a Federal Reserve economic symposium.
But US tariffs on Chinese goods, recently enacted industrial policies, and the pandemic, do seem to have touched off a “‘great reallocation’ in supply chain activity: Direct US sourcing from China has decreased,” from 21.6% of US imports as of 2016 to 16.5% last year, Alfaro and Chor wrote. It is not even certain that the decline in China’s US import share represents a true delinking, they said.
And among companies, they said, “concerns are being voiced over the wisdom of sprawling supply chains that can expose firms and countries to the risk of disruptions,” from events like the pandemic or severe weather, or policy shocks like tariffs.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Trump arrested, Biden talks to Zelenskiy, appeals for campaign donationsSOUTH LAKE TAHOE, Calif. (Reuters) - As former President Donald Trump was arrested in Atlanta, U.S. President Joe Biden said he had spoken with Ukraine's president on Friday and issued a fresh appeal for contributions to his 2024 re-election campaign 'apropos of nothing.'
Read more »
Russia scolds Biden over remarks on Prigozhin’s plane crashThe US president said he was not surprised by reports about the Wagner chief’s death.
Read more »
China Evergrande fulfils resumption guidance, shares to trade next weekThe property developer has become the poster child for an unprecedented debt crisis.
Read more »
Xi pledges to support Africa’s industrialisation at BRICSJOHANNESBURG: China’s leader Xi Jinping told African leaders at a meeting on the sidelines of the BRICS summit on Thursday that China would launch ini...
Read more »
China has no pain-free solutions for its slowing economyBEIJING, Aug 25 — Erin Yao would like to take street dance classes and travel, activities she could not do during three years of Covid-19 restrictions in China. Instead of...
Read more »
Trump in Atlanta for mug shot, booking in election caseDonald Trump’s private airplane landed at 7.03pm at Atlanta’s Hartsfield-Jackson airport.
Read more »