China Now Sells Fewer Goods to the US Than Mexico or Canada Do - Bloomberg | Americans can't get a break thanks to surging mortgages, food and fuel costs. Here are all the ways consumers are getting screwed. | A feud is heating up between Arizona workers and the world's leading chipmaker after the company claimed the US doesn't have the skills to build its new factory

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You Might Like � � � You Might Like � � � � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium China Now Sells Fewer Goods to the US Than Mexico or Canada Do - Bloomberg    Mexico and Canada have replaced China as the top providers of goods to the US as a nearshoring push encourages more diversified supply chains. The US imported about $203 billion in goods from China in the first six months of the year, 25% less than in the same period in 2022, based on the latest unadjusted data from the Commerce Department. The figures are not adjusted for inflation. The Asian country is now the third-largest provider of merchandise to the US behind Mexico and Canada. Goods imports from Mexico were up 5.4% in the first half from a year ago. Germany and Japan round out the top five. Continued here Americans can't get a break thanks to surging mortgages, food and fuel costs. Here are all the ways consumers are getting screwed. - Business Insider    Mortgage rates have skyrocketed to 23-year highs, along with surging food, fuel and new car prices. On top of that, it's become more expensive to pay back debt in a world of higher interest rates. The Federal Reserve has hiked interest rates from near-zero levels to upwards of 5% in a bid to cool 40-year high inflation raging through the US economy last year. While its fight against consumer price pressures has proven rewarding, with inflation rising by 3% annually, it still remains above the Fed's 2% target, paving the way for more interest rate hikes. But surging borrowing costs aren't solely driving up costs for consumers. Supply shortages from extreme weather conditions and strategic oil production cuts have also boosted food and gas prices. Continued here You Might Like � � � � � � � � � A feud is heating up between Arizona workers and the world's leading chipmaker after the company claimed the US doesn't have the skills to build its new factory - Business Insider    To get the construction of its Arizona chip factory back on track, Taiwan Semiconductor Manufacturing Company (TSMC) says it needs more workers with the expertise and skillsets that Americans don't have. Since June, the company has been in discussions with the US government about receiving accelerated non-immigrant E-2 visas for as many as 500 Taiwanese workers. The Arizona Pipe Trades 469 Union, a labor union that says it represents over 4,000 pipefitters, plumbers, welders, and HVAC technicians, has started a petition to urge US lawmakers to deny these visas. The petition claims that TSMC has deliberately misrepresented the skillset of Arizona's workforce. By approving TSMC's visa requests, a union website says lawmakers would be laying the groundwork for "cheap labor" to replace American workers.  The dispute marks the latest development in the US's race to build a presence in the semiconductor chip industry — something that's become a major priority as the world gets more reliant than ever on the devices that need chips to run. That means everything from smartphones to televisions to refrigerators and washing machines. And should the US ever enter into conflict with China — something that looks increasingly possible — it wants to be self-sufficient when it comes to making chips. Continued here

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