Tag: engineered components
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Global Manufacturing Further Shifts towards India as China Raises Tariffs
From January 1, 2023, China will raise import and export duties on some commodities to balance domestic demand and supply as well as upgrade its domestic industries. China will also be increasing export tariffs on aluminum and aluminum alloys. As the world’s leading steel producer and consumer, China and its market have an outsized impact…
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Strong US Dollar Makes Engineered Components from Cost Competitive Countries an Attractive Buy
Purchasing power due to the strengthening US dollar has made engineered components imports an attractive buy, according to the Wall Street Journal. Economists expect this purchasing power to last through mid-2023.1 Although purchasing power can be seen across cost competitive countries, China is at a disadvantage from the continuation of import tariffs that have been…
