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China Gets Hit with a 522% Tax Increase on Steel Imports to U.S.

China Gets Hit with a 522% Tax Increase on Steel Imports to U.S.

As accusations against China for its “unfair trading practices” are increasingly making a presence in U.S. political discourse (especially in this election year), the United States has raised its import duties tax on Chinese steelmakers by an astronomical 522%. The fivefold tax increase applies specifically to Chinese-made cold-rolled flat steel, the material used in car […]

Report: China Now Has the World’s Largest Middle Class

Report: China Now Has the World’s Largest Middle Class

China’s middle class has reached 109 million, outranking the United States for the No.1 spot for the first time ever, according to the Credit Suisse Report. According to the report released On October 13, the middle class in China has been growing faster than its U.S. counterpart. Since 2000, China has added 43.4 million adults […]