Source: China State Council Information Office
At the invitation of Chinese President Xi Jinping, President Asif Ali Zardari of the Islamic Republic of Pakistan will pay a state visit to China from February 4 to 8, a foreign ministry spokesperson announced on Monday.
Source: China State Council Information Office
China’s annual trade in services exceeded 1 trillion U.S. dollars for the first time last year, demonstrating significant potential for further growth.
China’s services import and export value amounted to a record-high of 7.5 trillion yuan (about 1.05 trillion U.S. dollars) in 2024, expanding 14.4 percent year on year, according to the latest data from the Ministry of Commerce (MOC).
Exports grew 18.2 percent year on year and imports grew 11.8 percent, according to the MOC.
Driven by the global trends of digitization, smart technology advancement and green development, China’s trade in services grew in scale, its structure was optimized further and its international competitiveness was enhanced in 2024, said Li Jun, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the MOC.
He noted that the comprehensive relaxation and optimization of China’s visa-free transit policy has played a role in boosting inbound tourism over the last year.
The broadly welcomed new policy has sparked the rise of “China Travel,” a popular hashtag on social media where many travelers share their experiences in China, with increasing numbers of international tourists being drawn by the country’s cultural landmarks, nature and city walks.
“‘China Travel’ is booming rapidly, and this growth is expected to boost the country’s services trade further, while helping to drive the global travel industry toward continued recovery and prosperity,” Li said.
China’s digital cultural platforms and content have been gaining significant traction overseas, Li said, noting the popularity of Chinese video game “Black Myth: Wukong,” the distribution of high-quality Chinese films and TV dramas on overseas streaming platforms such as Netflix and YouTube, and the fact that Chinese internet literature is influencing an increasing number of international readers.
The Chinese government released a guideline on promoting the high-quality development of trade in services through high-standard opening-up in August last year.
The document offered robust policy support for the development of China’s services trade, Li said, calling for more efforts to advance opening-up, innovation and international cooperation in the sector.
Noting that China established a nationwide negative list management system for cross-border trade in services last year, Li suggested that the level of institutional opening-up should be improved continuously, that the negative list should be shortened gradually as appropriate, and that high-standard international economic and trade rules should be aligned with actively.
He urged launching the construction of national demonstration zones for the innovative development of trade in services as soon as possible.
To facilitate innovation, Li called for the potential of industrial digitization and digital transformation to be unlocked, for support for the professional organizations offering services in finance, consulting, design and certification to enhance their ability to provide international services, and for the accelerated development of green services.
Bilateral, multilateral and regional collaboration in digital trade and trade in services should be expanded, Li said, suggesting that the role of major exhibition platforms should continue to be leveraged, and that international services trade cooperation parks should be developed.
Source: China State Council Information Office
A total of 4.8 billion inter-regional passenger trips were estimated to be made across China from Jan. 14 to Feb. 2, the first half of the 40-day Spring Festival travel rush.
The figure represents a 7.2 percent increase from the same period last year, according to a special work team established to facilitate sound operations during the Spring Festival travel rush, also known as chunyun.
Passenger flows have surged since Jan. 30, with daily trips exceeding 300 million on Jan. 31 and Feb. 1, both surpassing last year’s levels, according to a research and development center under the Ministry of Transport, adding that the trend is expected to continue during the holiday period.
On Feb. 2 alone, an estimated 319.32 million trips will be made, with highways accounting for the largest share at 301.02 million trips, according to the special work team.
A record-breaking 9 billion trips are expected to be made during chunyun in 2025 that will end on Feb. 22. The Spring Festival, an occasion for family reunions, fell on Jan. 29 this year.
Source: China State Council Information Office
China’s business community deeply regrets and firmly opposes the U.S. decision to impose an additional 10-percent tariff on goods imported from China, a spokesperson for the China Council for the Promotion of International Trade (CCPIT) said on Sunday.
The U.S. unilateral imposition of additional tariffs seriously violates World Trade Organization (WTO) rules, and many U.S. businesses and consumers will have to bear the costs, the CCPIT spokesperson said in a statement.
This move will disrupt normal China-U.S. economic and trade cooperation and threaten the stability of global industrial and supply chains, the spokesperson added.
“There is no winner in trade and tariff wars,” the spokesperson stressed, noting that the erroneous actions by the United States will not solve the U.S. problems at home. Instead, they will harm China-U.S. relations and negatively affect global economic development.
China’s business community has urged the U.S. side to immediately correct its wrongdoings, work with China to meet each other halfway, and strengthen cooperation with other countries to foster a favorable international environment for mutual benefit and win-win outcomes for the business communities of both countries and the world, and to inject more stability and positive energy into the global economy, the spokesperson said.
Source: China State Council Information Office
Iran on Sunday unveiled three new domestically developed satellites in the Iranian capital Tehran to mark its National Space Technology Day, the official news agency IRNA reported.
The satellites, namely Navak-1, Pars-2, and an upgraded model of Pars-1, were unveiled in a ceremony attended by Iranian President Masoud Pezeshkian, Minister of Information and Communications Technology Seyyed Sattar Hashemi, as well as a number of cabinet members, officials, and military commanders, the report said.
Developed by the Iranian Space Research Center, the Navak-1 communications satellite is designed to test the function of an improved version of the homegrown Simorgh launch vehicle in the near future. The carrier is expected to put the satellite into an elliptic orbit, according to IRNA.
Weighing approximately 34 kg, Navak-1 is equipped with a dosimetry payload to measure cosmic rays, the report said, adding the satellite has a magnetometer sensor to measure the Earth’s electromagnetic field.
According to IRNA, the Pars-2 remote-sensing satellite weighs 150 kg and is equipped with two imaging payloads with two different homegrown linear position sensors.
The satellite features a propeller and is capable of carrying out diverse missions in the fields of environmental monitoring, forestry, natural disaster response, and urban management.
The upgraded model of Pars-1 remote-sensing satellite, weighing under 150 kg, has three imaging payloads: multispectral, short-wave infrared, and thermal infrared, according to IRNA.
The satellite is powered by energy generated from its gallium arsenide solar cells, according to the report. The first model of the satellite, weighing 134 kg, was launched on Feb. 29, 2024, aboard a Russian Soyuz rocket from the Vostochny space base.
Speaking at another ceremony in Tehran on Sunday to mark the occasion, Iranian Defense Minister Aziz Nasirzadeh said the country plans to conduct two space launches in the coming weeks, before the end of the current Iranian calendar year on March 20.
Source: China State Council Information Office
The European Commission on Sunday criticized U.S. President Donald Trump’s tariff imposed upon three countries, saying they disrupt global trade and are harmful to all, and vowing to hit back if targeted.
“The European Union (EU) regrets the U.S. decision to impose tariffs on Canada, Mexico, and China,” an EU spokesman was quoted by local media.
He highlighted the importance of “open markets and respect for international trade rules,” saying they are essential for strong and sustainable economic growth. “Tariffs create unnecessary economic disruption and drive inflation. They are hurtful to all sides,” he added.
Referring to potential U.S. tariffs on EU products, the spokesman said “the EU would respond firmly to any trading partner that unfairly or arbitrarily imposes tariffs on EU goods.”
“Our trade and investment relationship with the United States is the biggest in the world. There is a lot at stake,” he was quoted as saying.
Since Trump’s second term started, Brussels has been advocating that the two sides should work on strengthening the existing transatlantic relationships, and has dedicated efforts to avoiding a trade conflict with Washington through negotiation. However, Trump doubled down on his plan by saying he would “absolutely” impose tariffs on the EU goods last week.
On Saturday, Trump signed an executive order to impose a 10-percent tariff hike on goods imported from China, and a 25-percent tariff on goods from Mexico and Canada. The move has drawn widespread opposition and immediate retaliations.
In response, China’s Ministry of Commerce said Sunday that China will file a complaint at the World Trade Organization and take corresponding countermeasures to firmly safeguard its rights and interests. Canadian Prime Minister Justin Trudeau announced Saturday that Canada will impose a levy of 25 percent on 21 billion U.S. dollars worth of American goods as of Tuesday. Mexican President Claudia Sheinbaum has instructed the Secretariat of Economy to implement tariff and non-tariff measures to defend Mexico’s interests.
Source: China State Council Information Office
U.S. President Donald Trump’s tariff move against Canada, Mexico and China has sparked criticism and concern in Germany.
On Saturday, Trump ordered to impose a 25-percent tariff on imports from Mexico and Canada, and a 10-percent tariff on Chinese goods. He also signaled that the European Union (EU) could be next, citing the bloc’s persistent trade surplus with the U.S.
While reaffirming Germany’s commitment to economic ties with the U.S., German Chancellor Olaf Scholz emphasized that the first priority should be “not to divide up the world with many tariff barriers.”
“Tariffs have never been a good idea to resolve trade policy conflicts,” Chairman of the German Christian Democratic Union Friedrich Merz said, warning of backlash in the U.S. as rising import costs would fuel inflation and hit American consumers directly.
Dirk Jandura, president of the Federation of German Wholesale, Foreign Trade and Services (BGA), described the tariffs as “a clear warning to the EU and Ursula von der Leyen,” stressing that neither Germany nor the EU should remain passive.
Trump’s move would come at a high cost for Americans, Jandura said, adding, “The losers are always end consumers, who will feel the price increase at the checkout.”
German companies are also bracing for the impact, as many supply the U.S. market from Mexico, particularly in the automotive industry.
According to the German newspaper Handelsblatt, Mexico has been Germany’s most important investment location in Latin America for years, with total investments exceeding 45 billion U.S. dollars since the 2000s.
Volkswagen Group, which operates one of its largest vehicle factories in Mexico, produces nearly 80 percent of its North America vehicles in Mexico and Canada. A Volkswagen spokesman voiced concerns about the tariffs’ potential economic fallout, warning of negative effects on American consumers and the global auto industry.
According to the credit rating agency S&P, Canada and Mexico produce around 5.3 million passenger cars annually, with approximately 70 percent destined for the U.S.
Importers are likely to pass most, if not all, of the price increase to consumers, S&P noted, warning that the additional costs would further strain affordability in the U.S. auto market.
Source: China State Council Information Office
A spokesperson for China’s Ministry of Public Security on Sunday expressed strong dissatisfaction with and firm opposition to the U.S. decision to impose a 10-percent additional tariff on imports from China under the pretext of fentanyl-related issues.
China is one of the countries with the strictest drug control policies and the most rigorous enforcement in the world, said the spokesperson, adding that China has consistently and resolutely fulfilled its international drug control obligations and actively engaged in international anti-drug cooperation with countries around the world, including the United States.
Despite the absence of widespread abuse domestically, China became the first country in the world to officially schedule fentanyl-related substances as a class in 2019 out of humanitarian goodwill and at the request of the U.S. side, said the spokesperson. However, the United States has not scheduled fentanyl-related substances as a class on a permanent basis.
Since China’s regulation, there have been no reports from the United States of seizures of such substances originating from China, added the spokesperson.
In recent years, China and the United States have made visible progress in practical cooperation on drug control in such areas as substance regulation, intelligence exchange, and case cooperation, producing tangible benefits, according to the spokesperson.
The spokesperson noted that the root cause of the fentanyl crisis in the United States lies in itself, and reducing domestic drug demand and strengthening law enforcement cooperation are the fundamental solutions.
Shifting blame onto other nations not only fails to resolve the issue but also erodes the foundation of trust and cooperation in the field of drug control between China and the United States, said the spokesperson.
China urges the United States to correct its wrongdoings and safeguard the hard-won progress in bilateral drug control cooperation, so as to promote the stable, healthy, and sustainable development of China-U.S. relations, the spokesperson said.
Source: China State Council Information Office
Thousands of people have been evacuated from their homes amid widespread severe flooding in northern Australia.
Authorities in the northeastern state of Queensland on Monday warned residents of the state’s tropical north to expect further flooding following days of torrential rainfall.
Thousands of people have been ordered to evacuate from the city of Townsville, over 1,000 km north of the state capital of Brisbane, and from surrounding towns.
The region has received over one meter of rainfall over three days, with up to 300 millimeters forecast for Monday by the Bureau of Meteorology.
State Premier David Crisafulli said on Monday morning that modelling shows the flooding has not yet peaked, urging residents of a stretch of coast over 600 km long between the cities of Mackay and Cairns to take heed of emergency warnings.
He said that authorities are focused on protecting lives before turning their attention to recovery efforts.
The State Emergency Service (SES) reported receiving almost 400 calls for assistance on Sunday, one-quarter of which were related to water entering properties.
A bridge on the Bruce Highway, a major road connecting northern Queensland to Brisbane, has collapsed just north of Townsville, cutting off several towns.
The Mayor of Hinchinbrook town, Ramon Jayo, told Australian Broadcasting Corporation television that the collapse was a “disaster” for the town, which will likely rely on supplies arriving by helicopter as it faces its worst flooding since the 1960s.
As of Monday morning local time, about 10,000 properties in the region were without electricity, with those affected told to prepare for prolonged outages.
Police in Townsville have increased patrols in evacuated parts of the city to protect properties from potential looting.
The Townsville Airport reopened on Monday, but the city remains cut off by road.
The federal government has deployed Australian Defence Force helicopters to help monitor the flooding.
Source: Government of India
Posted On: 01 FEB 2025 2:38PM by PIB Delhi
Exports hit USD 778.21 billion in 2023-24, marking a 67% increase since 2013-14
Introduction
India’s exports have seen a historic rise, reaching USD 778.21 billion in 2023-24. This marks a 67% increase from USD 466.22 billion in 2013-14. The growth reflects India’s expanding role in global trade, driven by strong performances in both merchandise and services exports.
In 2023-24, merchandise exports stood at USD 437.10 billion, while services exports contributed USD 341.11 billion, demonstrating a well-balanced expansion. Key sectors like electronics, pharmaceuticals, engineering goods, iron ore, and textiles played a vital role in this surge. Strengthened by strategic policy measures, enhanced competitiveness, and broader market access, India’s export ecosystem is now more resilient and deeply integrated into the global economy.
The momentum has continued into FY 2024-25, with cumulative exports during April-December 2024 estimated at USD 602.64 billion, a 6.03% increase from USD 568.36 billion in the same period of 2023. Strengthened by strategic policy measures, enhanced competitiveness, and broader market access, India’s export ecosystem is now more resilient and deeply integrated into the global economy.
Export Classification and Growth Trends
Merchandise exports have grown from USD 314 billion in 2013-14 to USD 437.10 billion in 2023-24, driven by a stronger manufacturing base and increased global demand.
Service exports have expanded from USD 152 billion in 2013-14 to USD 341.11 billion in 2023-24, fueled by the rise of IT, financial, and business services.
Leading Export Regions Over the Years
In 2004-05, India’s exports were predominantly directed to regions like North America, the European Union, North-East Asia, West Asia-Gulf Cooperation Council, and ASEAN. By 2013-14, there was a marked increase in export values across these regions, with North America, the EU, and West Asia seeing notable growth. Fast forward to 2023-24, and the export landscape shows continued expansion, with North America leading as the largest destination. The EU, West Asia, and ASEAN also experienced robust growth, illustrating India’s diversified and strengthened global trade relationships over the years.
Key Export Destinations in 2023-24
Sectoral Growth in India’s Exports
Key Government Initiatives to Strengthen India’s Export Landscape
Foreign Trade & Export Promotion
Infrastructure & Logistics
Ease of Doing Business & Digital Initiatives
E-Commerce & Digital Trade
Agriculture & Organic Exports
Conclusion
India’s export sector has experienced extraordinary growth, driven by a combination of strategic policy measures, robust infrastructure development, and a strengthened manufacturing base. With exports touching new heights across both merchandise and services, the country has firmly established itself as a key player in global trade. The expansion of high-value sectors like electronics, pharmaceuticals, engineering goods, and agriculture, coupled with innovations in e-commerce and digital trade, showcases India’s growing global influence. Supported by initiatives such as the National Logistics Policy, Production-Linked Incentive schemes, and enhanced market access, India is well on its way to further diversifying its export landscape. As the country continues to focus on improving business ease, fostering competitiveness, and tapping into emerging markets, it is poised to not only sustain but also accelerate its export momentum in the years to come.
References:
v https://www.commerce.gov.in/wp-content/uploads/2024/12/Annual-Report-English-Lower-Resolution-1.pdf
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Santosh Kumar/ Sarla Meena/ Saurabh Kalia
(Release ID: 2098447) Visitor Counter : 58
Source: The Conversation (Au and NZ) – By Matthew Mclaughlin, Adjunct Research Fellow, The University of Western Australia
What could you buy for 90 cents? Not much – perhaps a banana.
Unfortunately, that’s how much the Australian government has invested per person annually on walking, wheeling and cycling over the past 20 years.
How would Australians’ lives change if that figure rose?
Read more:
What makes a city great for running and how can we promote ‘runnability’ in urban design?
From 2008-2028, the federal government spent $384 million on the following active transport investments:
All up, about $714 per person is spent annually on roads; 90 cents out of this $714 is just pocket change.
Even if you don’t want to walk, wheel or ride, you should care because less driving helps everyone, including other drivers, who benefit from reduced traffic.
As a result of this over-investment in car road-building, Australia has the smallest number of walking trips of 15 comparable countries across Western Europe and North America.
Cycling rates are equally dismal.
Globally, the United Nations recommends nations spend 20% of their transport budgets on walking and cycling infrastructure.
Countries like France, Scotland, the Netherlands, Denmark, Sweden and the largest cities in China invest between 10% and 20%.
These places were not always known for walking and cycling – it took sustained redirecting of investment from roads to walking and cycling.
Meanwhile, many Australians are dependent on cars because they have no other choice in terms of transport options.
Road use is inherently dangerous – in Australia last year, more than 1,300 people died on our roads, which is more than 25 people a week.
Owning a car can also be expensive, which is especially concerning for those struggling with the cost-of-living.
The typical Australian household spends 17% of its income on transport – with car ownership making up 92.5% of that figure, compared to 7.5% on public transport.
Many Australians feel forced to own a car to get around, so investing in paths and public transport provides people the freedom to get around how they choose.
Congestion is getting worse in most major cities and we can’t build our way out of it with more or wider roads.
About two-thirds of car journeys in our cities could be walked, wheeled or cycled in 15 minutes or less, but these short car trips clog up our roads with traffic.
A major source of all emissions in Australia are from driving.
If more people felt safe to walk, cycle or take public transport, it would reduce this major emissions source.
There is a strong rationale and economic argument, too. The NSW government has estimated every kilometre walked benefits the national economy by $6.30, while every kilometre cycled benefits the economy by $4.10.
This means that by simply walking 500 metres to the local shops and back, you’re saving the economy about $6, while riding five kilometres to work and back saves a whopping $41 for the economy.
Redirecting funding from the current road budget makes the most sense, because getting more people walking, wheeling and cycling eases pressure on the transport system (think of school holiday traffic).
This is a popular proposition. One study found two-thirds of Australians supported the redirection of funding from roads to walking and cycling infrastructure. Another found many Australians support building more walking and cycling paths where they live.
This is not a partisan issue: all Australians in all communities would benefit, including drivers who would face less traffic and enjoy more parking availability.
Unfortunately, false solutions to our unwalkable and un-cycleable communities continue to derail our focus on fixing the root cause of our problems. For example, telling people to ride to work, while not providing them a safe place to do so, doesn’t make sense.
Investing $15 per Australian per year would create a better built environment to walk, wheel or ride and deliver significant economic, social and environmental benefits.
If this was matched with 50:50 funding from state and territory governments (which often happens with transport projects) over a ten-year period, this investment would deliver the four national projects already shortlisted on Infrastructure Australia’s infrastructure priority list for our largest capital cities: Sydney, Melbourne, Perth, Brisbane.
It could also fund up to 15 regional cities to build comprehensive networks. Wagga Wagga for example, is about to finish building a 56 kilometre network of walking and cycling paths. As a result, those using the network are 3.7 times more likely to meet physical activity guidelines than those who don’t.
Such an investment could also fund supporting initiatives, such as electric bike subsidies which have proven extremely popular in both Queensland and Tasmania.
The Australian government could invest less than $15 per person – at $5 or $10 per year, the key projects outlined in Infrastructure Australia’s infrastructure priority list could still be targeted, but those would just take proportionally longer because there is less money.
Or, instead of investing in the four capital cities on the infrastructure priority list, it could invest in two.
A different approach could be to spend $5 or $10 to fund infrastructure for regional towns, but this wouldn’t help the problems in our capital cities.
When it comes to transport, the saying goes “we get what we build” – so if we build more roads, we get more people driving. If we build paths, we get more people walking and cycling short journeys and our roads are less congested.
We need bold solutions, and $15 should be seen not as an extravagance.
Acknowledgement: We would like to thank Sara Stace, President of Better Streets Australia, for her expertise in discussions regarding this article.
Dr Matthew ‘Tepi’ Mclaughlin has received research funding from government research funding organisations. He is currently a Board Member of Better Streets.
Peter McCue receives an Australian Postgraduate Research Award to study a PhD. He is a member of the Executive Committee and Chair of the Advocacy Committee of the Asia-Pacific Society for Physical Activity.
Grant Ennis does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. Australia spends $714 per person on roads every year – but just 90 cents goes to walking, wheeling and cycling – https://theconversation.com/australia-spends-714-per-person-on-roads-every-year-but-just-90-cents-goes-to-walking-wheeling-and-cycling-247902
Source: Government of India (2)
Posted On: 02 FEB 2025 8:51PM by PIB Delhi
I am extremely happy and delighted to be at this World Forum of Accountants. Greetings to everyone, those from the country and outside. This is a unique gathering that is bound to inspire, energise, and motivate not only me, but many others.
Chartered Accountant stands, not for Chartered Accountant, but credibility, ambassadors, change accelerators, and I would urge you to be conscience arbiters, ethical guardians, and bold decision makers. Friends, the theme of this year’s event, Accountability Meets Innovation for a Sustainable Planet, is of supreme contemporaneous relevance. India’s ancient wisdom, Vasudhaiva Kutumbakam stands as a lighthouse illuminating humanity’s path through today’s twin challenges of climate crisis and technological disruptions.
This philosophy, anchored in our G20 motto, ‘One Earth, One Family, One Future’ guides us and our collective journey towards sustainable solutions and unified global action. Our sacred earth, Dharti Mata, stands, distinguished audience, at a critical precipice.
The rivers once sacred now choke, forests fall silent, and toxic air strangles life itself. Peremptorily demanding, we unite Vedic sustainability with modern action before time runs out on humanity’s final chance to survive.
Friends, in today’s world, sustainability is not just a choice, it is an imperative. There is no other option. Businesses are increasingly being evaluated, not just on their financial performance, but also on the will of their social and environmental impact. It is soothing that building on its successful G20 leadership and Global Biofuels Alliance, India continues this vision at this World Forum of Accountants, thanks to your organisation.
Artificial intelligence emergence, or if you may call it onslaught, is no less than industrial revolution. The world is at the cusp of a change at a level unknown before. Artificial intelligence balances immense potential with critical challenges, data quality, ethics, regulations, bias, and transparency. Effective and efficient use of artificial intelligence requires organisations to walk the fine line between innovation and responsibility, guided by robust ethical frameworks and proactive leadership. If not tapped and regulated, artificial intelligence will emerge as a monster. Artificial intelligence landscape is suffering a paradigm shift by the moment.
Friends, let me first advert briefly to the state of the nation. India has had unparalleled remarkable economic rise and upsurge, infrastructure development, technology penetration, and deep digitisation in the last few years amongst large economies, its growth stands out. An environment of hope and possibility is all-pervasive. There has been a budget booster, and for me there has been a Kumbh booster, the two are coupled. Budget booster, particularly for taxpaying populace has generated radiance all around. My visit to Kumbh, an event of unparalleled consequence for humanity. When I took the holy dip, in an event that celestially occurs after 144 years, population beyond America had already visited the place.
Excellent management! I’m sure, World-level arrangements, you have noticed. It will be studied for many, how in such a small area, such a large human congregation has been taken care of. Reflecting India’s inclusivity, peace within us, there was a mishap but what stands out, the management thereof. The response was electric, nuclear. It was done in a moment. Health facilities, law and order facilities, helping hand facilities.
I, therefore, as an Indian, take pride that we as a nation have come of age where such human congregation, driven by commitment to religiosity, sublimity, spirituality, and our civilisational ethos, has come together and peacefully handling situations. I salute everyone associated with such kind of exemplary management.
Friends, a challenge to all of us. We allow some people to have microscopic approach to generate sensation, to get space when something happens. Ignoring the major achievements, I’m sure this distinguished group, which is unique, will take note of it and be on the watch out. Friends, our nation’s youth demographic component is global envy. Our median age is 28 for the U.S. it is 39 and China 40 but what is particularly of critical importance is, and what is heartening to note, that around 68% of the total chartered accountants in India, they are under 40. This global powerhouse, situated in the largest democracy on the planet, can effect wonders. I am optimistic you will do it.
Friends, I would be a little honest in my thought process sharing with you and this is underscored by my very strong belief that if I express myself before you, it will generate a dialogue. Expression and dialogue, both are essential to democracy. Once you understand my point, you will realise to what extent you can make the difference. While undoubtedly affirmative and innovative governance policies are enabling for expanding potential and talent, hand-holding is essential to get human resources out of silos and grooves they have long believed in.
Youth has to look beyond government jobs as therein lies a goldmine for them. Friends, so is also true of industry, commerce, business and trade. You will appreciate a discerning audience, International Monetary Fund has accoladed India as the favourite global destination of investment and opportunity. Friends, surely it is not premised on government jobs, something else. Friends, you as a distinguished category of professionals having deep connect with those who control economy. You can wisen people and youth in particular that there are growing vistas for you where the youth gets to be involved.
They have to look beyond government jobs and that is something which can emanate from your side. In such a scenario, those in executive governance, parliamentarians, bureaucracy, business tycoons and managers, professionals in all fields have to rise and they have to rise to make aware to our youth, to our entrepreneurs, opportunity basket that is available for them. Our youth, our entrepreneurs can optimally contribute towards national development. If they come to know of new vistas where they can really contribute. For instance, let me tell you, blue economy, space economy have enormous potential. For the youth, number of avenues are available. They have to get into the groove of change, get out of silos.
Friends, without adverting more, since I am frankly communicating with you, without adverting more, without elaborating, I dare assert each segment, the professionals, the parliamentarian, those in business and the like, have enough to reflect, soul search and resolve to be in correctional mode sooner than later so as to act in this direction. Friends, in last decade, a big change has taken place in the mindset of the people. People have tested development at all levels. What was beyond belief, amenities as toilet, gas connections, electricity, and ongoing pipe water schemes in all rural households, this has had transformative impact.
Internet connectivity and smartphones have generated a particular climate of participation in all spheres, including governance. The people have now got into aspirational mode. This aspirational mode is premised that in last decade, no nation has progressed as much on development aspect as Bharat. So when people taste development, they want more. This has converted one-sixth of humanity as most aspirational population and therefore, this discerning, demanding populace is an asset but it is also a challenge. If it is restive, it is ticking time bomb. If energy is channelised, it is no less than nuclear power. I strongly feel bodies like yours have capacity to convert youth dividend into nuclear power and keep it away from restive temperament. After some analysis of the budget proposals yesterday, you are experts. I analysed it and I found there is all around joy, hope, and expectation of delivery.
In such a scenario, keeping the principle of nation ever first, as a prestigious organisation like yours, you ought to fire on all cylinders to contribute to the attainment of a developed nation at 2047. Viksit Bharat at 2047 is no longer a dream, it is our destination. We will accomplish it in 2047 when we celebrate centenary of our independence, if not before. But for that, you all will have been overdrive.
Friends, assured of your indulgence, assured of your consideration, and fully assured that you will not misunderstand me, I seek to assert that the chartered accountants fraternity will have to walk the talk. Soul searching will make you realise that your potential still remains untapped. If you fully exploit your potential, the results for the nation will be geometric.
Friends, I am venturing into troubled waters to so indicate, as I trust your deep sense of understanding and also alive to your potential as a class to fuel research, innovation, ethical governance, and promote venturing into new economic vistas of artificial intelligence, blue and space economies of the kind.
Friends, I am deeply concerned when I notice that when balance sheets shine premised on avoidable imports, finances blossom on raw material exports, the national economy bleeds as there is avoidable drain of foreign exchange, loss of employment, and impeding of entrepreneurial growth. There is need, and this need you alone can satisfy. There is need to imbibe the spirit of economic nationalism, as a distinguished class, chartered accountants are immediately positioned and suited to propagate and nurture the spirit of nationalism.
Such an approach will be highly beneficial to the economy and save us billions in foreign exchange, billions of dollars, and create millions of jobs and account for growth of entrepreneurship. Bharat is home to one-sixth of humanity, it is gifted with human resource that is invaluable. Time has come for us to emerge a global leader in accounting profession. No one doubts your talent, no one doubts your potential but at global level, our chartered accountant outfits have to emerge. They have to occupy the space which is yours.
I appeal to all concerned also in the government, to be proactive so that our chartered accountants as individuals or in conglomerates occupy global space. It’s a matter of concern that on those front, there seems to be no moment in as much as we are yet to be liberated on the home front. I want our firms, homegrown firms, to occupy a place of pride, and that is need of the times and also the challenges including data privacy we suffer.
Arthashastra by Chanakya is a treatise of foundation for economic thought. We need to propagate this legacy and our firms must be amongst the top names in the world. All concerned, I appeal, must converge to secure this, and I’m sure the Institute will take proactive steps.
Friends as a nation, and with civilisational history of thousands of years, and getting knowledge from our ethos, we can confidently assert to the world that adherence to the highest standards of ethics, property, and propriety are the ones that we have followed all throughout. When it comes to your profession, a profession that is unique because it is a repository of trust of people, unqualified trust, unqualified belief, and therefore I call upon you to maintain and exemplify scrupulously highest ethical standards because for your profession that is minimal requirement. There can be no human lapse than betrayal of trust. You are a repository of that.
Friends, I come from a stream of legal profession. Like your profession, we also have self-regulation. I would therefore urge placatory stance at your end is fraught with severe consequences when there are transgressions in law. We must take all care and caution to see that we are not afflicted by ingratiating with our fraternal feelings or taking care because they belong to our fraternity.
As an institution and as a class, you will be beacon of hope and trust to everyone once your disciplinary prescriptions are adhered to in exemplary manner.
Friends, I earnestly appeal to you to realise and amplify your potential and potency to effect transformative change in economy and commerce. Set global benchmarks in transparency, accountability, and ethical standards. Be torchbearers of the change in your sector. Budget boost beacons you to add taxpayers and achieve higher formal economy. We have graduated into formal economy but now is the time for professionals in your category to contribute massively to see that more and more people contribute to national development by coming in tax net. As the architects of economic stability, watchdogs of financial integrity, and guardians of fiscal discipline, you are particularly enjoined to contribute optimally for nation’s march to unprecedented growth and prosperity.
We are living in times when influencers in various walks of life matter hugely but as a class, you are the most potent influencers for transformative change in economy. There is no other class other than chartered accountants who can bring about revolutionary positive change in business ethics, business promotion. Your unique position at the intersection of business, finance, and governance enables you to bring about, catalyse reforms from the grassroots to the highest corporate achievements. You have the potential to be nerve centre for big change to contribute to our economy.
A challenge to be a developed nation has to be understood at your level. A developed nation status, you know more than I do, is not as such defined, but certain global parameters can be called out and that, in my modest understanding of economics, means our per capita income has to rise eightfold. A daunting challenge, but achievable. Let us keep that in mind.
Friends, as guardians of upright governance, your role transcends mere compliance. You are the conscious keepers of corporate India, wielding the power to shape ethical business practises and ensure transparent operations that build trust in our financial system. Your profession must emerge as harbinger of innovation, leading industry and business into new frontiers. Your expertise in financial structuring, risk management, and which is occurring very frequently now, and strategic planning positions you perfectly to guide businesses, industry, commerce, and organisations through technological transformations and sustainable growth initiatives.
I firmly believe, and I’m sure nobody will disagree with me, if chartered accountants are first responders to transgression of law and ethics in any form, this will herald needed exit of malpractices. No malpractices can flourish if chartered accountants are so determined. I need not reflect in detail, but you are aware, placatory positioning of one of the world’s largest chartered accountants firm led to its exit from the radar, that’s a lesson to one and all.
Friends, may you as a class get positioned at global level, befitting the largest, oldest, and most functional democracy in the land that has over 5,000 years of unparalleled civilisational and cultural heritage. Time is now, Time is ripe. Several steps will have to be taken by regulators in our country as well, by the CAG, by the RBI, and by the Ministry of Finance. Get in communication with them as a body. Make your suggestions. Lay bare your intent and I would want, as I dream, Indian accountancy and consultancy firms dominating not only the national scene, but also global scene.
Friends, I’m sure the deliberations would have been highly productive and fruitful, particularly the young professionals. I’m addressing young professionals. You are the most impactful, powerful stakeholder in economy, in democracy, in shaping the future of Bharat. You are required to fire on all cylinders, contribute optimally to the Marathon March which the nation is having for Viksit Bharat at 2047. I have no doubt in your capacity.
अंत में मैं यही कहूंगा, दुनिया के किसी भी कोने में चले जाओ, एक छत के नीचे इतने प्रतिभाशाली लोगों का एकत्रित होना।
On a lighter note, I wish to share. A very distinguished parliamentarian, who was a distinguished senior advocate, he is no more with us. He paid tribute to your profession and he was a lawyer like me. उन्होंने कहा, Chartered Accountancy में पास होना मुश्किल है और कानूनी की शिक्षा में फेल होना मुश्किल है। That is your power.
जब देश के सामने संकट भारी हो, जिनको जो काम करना है, कर्तव्य का निर्वाह करना है, वो नहीं कर रहे। आज के दिन अति आवश्यक है कि भारत की युवा शक्ति, जिसके apex पर आप लोग हैं, वह सही रास्ते पर डाले। यदि अगर संसद में चर्चा नहीं होगी, वाद-विवाद नहीं होगा, उसेमे व्यवधान होगा तो आपको भी कुछ करना पड़ेगा।
मेरे लिए चिंता, चिंतन और मंथन का विषय बन गया है कि संविधान सदन के अंदर क्या होता था, चर्चा, विचार-विमर्श कोई टकराव नहीं, हार-जीत का प्रश्न नहीं था, लक्ष्य एक था, लक्ष्य था —राष्ट्रहित में क्या अच्छा है। आज का परिदृश्य क्या है? उसके ठीक विपरीत।
कई बच्चे मुझे कहते हैं, आप कुछ क्यों नहीं करते, सदन तो अखाड़ा बन गया है, कुश्ती दंगल बन गया है। सोचने की बात है।
दूसरा, भारत की अप्रत्याशित छलांग, ऐसी विकास यात्रा की दुनिया की संस्थाएं अचंभित हैं। चमत्कारी योजनाओं का जमीनी हकीकत, कुछ लोगों को ठीक नहीं लगता है और ऐसे हालात में आ जाते हैं कई बार कि sensation generate करो, एक narrative करो, narrative के अंदर भारतीयता को भूल जाते हैं, राष्ट्रवाद, राष्ट्रहित को भूल जाते हैं और ऐसा कृत करते हैं जैसे उस टहनी को काट रहे हैं, जिस पर बैठे हैं।
I appeal to youth, I appeal to platinum category of young minds that are before me. You have now gifted power in your hand to neutralise the Anti-National narratives. To defeat those forces that are inimical to India, your mind should be concerned, with the existential challenges we are facing, and the government is doing much. Our nation, cannot afford to have, millions of illegal migrants. We cannot have, we cannot allow, our electoral politics, to be disturbed, by demographic dislocations, and earthquakes.
These are things which will matter for you because, these are the challenges, for which you collectively, have to find an answer. I have no doubt.
अंत में मैं यही कहूंगा, दुनिया के किसी भी कोने में चले जाओ, एक छत के नीचे इतने प्रतिभाशाली लोगों का एकत्रित होना।
On a lighter note, I wish to share. A very distinguished parliamentarian, who was a distinguished senior advocate, he is no more with us. He paid tribute to your profession and he was a lawyer like me. उन्होंने कहा, Chartered Accountancy में पास होना मुश्किल है और कानूनी की शिक्षा में फेल होना मुश्किल है। That is your power.
जब देश के सामने संकट भारी हो, जिनको जो काम करना है, कर्तव्य का निर्वाह करना है, वो नहीं कर रहे। आज के दिन अति आवश्यक है कि भारत की युवा शक्ति, जिसके apex पर आप लोग हैं, वह सही रास्ते पर डाले। यदि अगर संसद में चर्चा नहीं होगी, वाद–विवाद नहीं होगा, उसेमे व्यवधान होगा तो आपको भी कुछ करना पड़ेगा।
मेरे लिए चिंता, चिंतन और मंथन का विषय बन गया है कि संविधान सदन के अंदर क्या होता था, चर्चा, विचार–विमर्श कोई टकराव नहीं, हार–जीत का प्रश्न नहीं था, लक्ष्य एक था, लक्ष्य था —राष्ट्रहित में क्या अच्छा है। आज का परिदृश्य क्या है? उसके ठीक विपरीत।
कई बच्चे मुझे कहते हैं, आप कुछ क्यों नहीं करते, सदन तो अखाड़ा बन गया है, कुश्ती दंगल बन गया है। सोचने की बात है।
दूसरा, भारत की अप्रत्याशित छलांग, ऐसी विकास यात्रा की दुनिया की संस्थाएं अचंभित हैं। चमत्कारी योजनाओं का जमीनी हकीकत, कुछ लोगों को ठीक नहीं लगता है और ऐसे हालात में आ जाते हैं कई बार कि sensation generate करो, एक narrative करो, narrative के अंदर भारतीयता को भूल जाते हैं, राष्ट्रवाद, राष्ट्रहित को भूल जाते हैं और ऐसा कृत करते हैं जैसे उस टहनी को काट रहे हैं, जिस पर बैठे हैं।
I appeal to youth, I appeal to platinum category of young minds that are before me. You have now gifted power in your hand to neutralise the Anti-National narratives. To defeat those forces that are inimical to India, your mind should be concerned, with the existential challenges we are facing, and the government is doing much. Our nation, cannot afford to have, millions of illegal migrants. We cannot have, we cannot allow, our electoral politics, to be disturbed, by demographic dislocations, and earthquakes.
These are things which will matter for you because, these are the challenges, for which you collectively, have to find an answer. I have no doubt.
मेरे लिए इतना कहना काफी है क्योंकि कहा जाता है, समझदार को इशारा काफी है।
****
JK/RC/SM
(Release ID: 2099009) Visitor Counter : 62
Source: People’s Republic of China – State Council News
Tourists flock to scenic areas along Beijing Central Axis during Spring Festival holiday
Source: People’s Republic of China – State Council News
Foreign tourists taste Chinese New Year flavor
Source: People’s Republic of China – State Council News
China’s annual trade in services exceeds 1 trillion USD, boasting significant potential
BEIJING, Feb. 3 — China’s annual trade in services exceeded 1 trillion U.S. dollars for the first time last year, demonstrating significant potential for further growth.
China’s services import and export value amounted to a record-high of 7.5 trillion yuan (about 1.05 trillion U.S. dollars) in 2024, expanding 14.4 percent year on year, according to the latest data from the Ministry of Commerce (MOC).
Exports grew 18.2 percent year on year and imports grew 11.8 percent, according to the MOC.
Driven by the global trends of digitization, smart technology advancement and green development, China’s trade in services grew in scale, its structure was optimized further and its international competitiveness was enhanced in 2024, said Li Jun, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the MOC.
He noted that the comprehensive relaxation and optimization of China’s visa-free transit policy has played a role in boosting inbound tourism over the last year.
The broadly welcomed new policy has sparked the rise of “China Travel,” a popular hashtag on social media where many travelers share their experiences in China, with increasing numbers of international tourists being drawn by the country’s cultural landmarks, nature and city walks.
“‘China Travel’ is booming rapidly, and this growth is expected to boost the country’s services trade further, while helping to drive the global travel industry toward continued recovery and prosperity,” Li said.
China’s digital cultural platforms and content have been gaining significant traction overseas, Li said, noting the popularity of Chinese video game “Black Myth: Wukong,” the distribution of high-quality Chinese films and TV dramas on overseas streaming platforms such as Netflix and YouTube, and the fact that Chinese internet literature is influencing an increasing number of international readers.
The Chinese government released a guideline on promoting the high-quality development of trade in services through high-standard opening-up in August last year.
The document offered robust policy support for the development of China’s services trade, Li said, calling for more efforts to advance opening-up, innovation and international cooperation in the sector.
Noting that China established a nationwide negative list management system for cross-border trade in services last year, Li suggested that the level of institutional opening-up should be improved continuously, that the negative list should be shortened gradually as appropriate, and that high-standard international economic and trade rules should be aligned with actively.
He urged launching the construction of national demonstration zones for the innovative development of trade in services as soon as possible.
To facilitate innovation, Li called for the potential of industrial digitization and digital transformation to be unlocked, for support for the professional organizations offering services in finance, consulting, design and certification to enhance their ability to provide international services, and for the accelerated development of green services.
Bilateral, multilateral and regional collaboration in digital trade and trade in services should be expanded, Li said, suggesting that the role of major exhibition platforms should continue to be leveraged, and that international services trade cooperation parks should be developed.
Source: People’s Republic of China – State Council News
BEIJING, Feb. 2 — The Chinese Spring Festival is traditionally celebrated with dumplings, firecrackers and red paper-cut decorations. This year, however, a new element is joining the festivities: robots.
A group of humanoid robots performing a dance routine has become the most talked-about performance at this year’s Spring Festival Gala, broadcast on Chinese New Year’s Eve. These black-painted life-size robots, adorned with colorful sleeveless jackets, danced alongside 16 human performers in Yangko, a traditional folk dance renowned for its sweeping steps and twirling handkerchiefs.
Behind their precise mechanical arm movements is the integration of advanced AI algorithms and smart sensors.
In addition to the televised event, the first-ever tech-driven temple fair, held in Beijing’s Haidian District, also combined cultural heritage with cutting-edge technology.
A robot greeting visitors with Chinese New Year blessings, a humanoid robot playing Peking Opera tunes, and the first AI display of the Chinese mythological character Lord Rabbit are all part of the ongoing 2025 Haidian Spring Festival-Themed Sci-Tech Temple Fair.
Over 70 AI application scenarios from over 50 innovative companies are on display, showcasing the integration of AI technology with traditional Spring Festival customs and elements.
Other attractions included a robot band and bipedal humanoid robot soccer matches, offering visitors a captivating and futuristic experience.
A recently viral video on social media showcased a performance in the city of Shenzhen, south China’s Guangdong Province, where robot dogs took the stage to perform a lion dance, enthralling the crowd.
During the 8-day Chinese New Year holiday, many Chinese people chose to climb mountains for exercise. A news story about an “exoskeleton robot” assisting climbers on Mount Tai, one of China’s most popular mountain tourist spots, garnered widespread attention.
Weighing only 1.8 kg, this robotic leg device uses advanced ergonomics, power, electronics and AI algorithms to perceive lower limb movements and provide timely assistance, making mountain climbing a much easier endeavor.
“Wearing this robot has been a great help to my legs,” said a tourist. “Climbing the mountain feels much easier than walking on flat ground.”
This isn’t the first instance that robots have been used to offer a tech-savvy enhancement to the culturally and historically significant Mount Tai. Last October, a team of four-legged robotic dogs tasked with waste collection made headlines.
Intelligent robots are becoming more common, facilitating daily life and work. These robotic products reflect the rapid development of China’s robotic industry.
In 2023, China produced 7.833 million service robots, a 21.3 percent increase from the previous year. Industrial robot production reached 430,000 units, accounting for about 73 percent of the global total.
According to a recent report by the China Academy of Information and Communications Technology, humanoid robots are poised to become the next big terminal after personal computers, smartphones and new energy vehicles, potentially forming a new trillion-yuan-level market.
Broad market potential has attracted not only tech companies but also automotive firms and internet giants investing in humanoid robot projects.
Driven by these pioneers, this year will mark the beginning of mass production for humanoid robots, with significant commercial applications on the horizon, the report noted.
Source: People’s Republic of China – State Council News
HARBIN, Feb. 2 — With less than a week out from the official opening of the 9th Asian Winter Games in Harbin, the torch relay of the games will officially commence in the “Ice City” on Monday.
Li Na, head of the Torchbearer and Volunteer Management Team of the Torch Relay Command Center, said that the relay will last for one day, covering a total route of approximately 11 kilometers and consist of a launch ceremony, a closing ceremony, and community performances along the route.
“The selection of torchbearers was conducted with an emphasis on inclusiveness, representation, and fairness, with participants from the Olympic Council of Asia (OCA), the Chinese Olympic Committee, the AWG organizing committee, and various cities across Heilongjiang Province, as well as representatives from the event’s sponsor enterprises,” Li said, adding that a total of 120 torchbearers will participate in the event.
The torch relay route, which passes through multiple landmarks in Harbin, has been designed to meet the requirements of being simple, safe, and spectacular while also showcasing the natural landscapes, cultural heritage, and urban charm of the host city.
The ninth Asian Winter Games will take place in Harbin from Feb. 7 to 14. Over 1,270 athletes from 34 countries and regions across Asia will participate, making this edition the largest in terms of participating delegations and athletes.
Source: People’s Republic of China – State Council News
BEIJING, Feb. 2 — Mangrove forests in China have expanded since the start of this century, making the country one of the few to have seen a net increase in mangrove coverage, official data showed on Sunday, World Wetlands Day.
The total area of China’s mangrove forests has reached 30,300 hectares, up approximately 8,300 hectares from the beginning of this century, according to the National Forestry and Grassland Administration.
The progress came as a result of China’s intensified efforts to protect and restore its mangroves, which are evergreen trees or shrubs that grow in intertidal zones on tropical or subtropical coasts. Sometimes referred to as “coast guards,” they play a vital role in purifying seawater, in mitigating the impacts of wind and waves, and in maintaining biodiversity.
Over the past five years, China has planted over 8,800 hectares of mangroves and rehabilitated an additional 8,200 hectares, according to an administration official.
This progress has been part of the country’s broader work to protect its wetlands. More than 1 million hectares of wetlands have been created or restored since late 2012, with China’s total wetland area remaining stable and now at over 56.35 million hectares. More than 2,200 wetland nature reserves have been established nationwide, and major wetlands have seen notable ecological improvements.
Over the last two decades, China has established 903 national wetland parks, which collectively protect 2.4 million hectares of wetlands and are mostly open to the public and free to enter.
To strengthen wetland conservation, the administration will implement China’s law on wetland protection in full, enhance its monitoring and supervision work, advance mangrove conservation and invasive plant control initiatives, and support the construction and operations of an international mangrove center, the official said.
Source: People’s Republic of China – State Council News
Ancient town in Tianjin attracts tourists to enjoy festive atmosphere during Spring Festival holiday
Source: American Clean Power Association (ACP)
Headline: ACP Statement on Tariffs on U.S. Imports from Canada, Mexico, and China
WASHINGTON DC, February 2, 2025 – The American Clean Power Association (ACP) released the following statement from Jason Grumet, ACP CEO following the announcement of tariffs on U.S. imports from Canada, Mexico, and China:
“ACP and its member companies share the Trump Administration’s concern over the fentanyl crisis and public health emergency impacting our communities. ACP recognizes and appreciates the Administration’s early focus on this crisis.
“ACP also supports the Administration’s commitment to lower American energy prices. While energy production only represents 5% of our nation’s direct GDP, it drives the productivity of our entire economy, impacting prices of nearly all consumer goods. In concert with the other trade associations representing America’s energy resources, ACP is concerned that increasing the costs of energy production inputs will put upward pressure on consumer energy costs and diminish our capacity to unleash energy abundance.
“While the fuel relied upon by wind and solar energy—complemented by battery storage—is free, some parts for these machines that harness these renewable resources are manufactured in Canada and Mexico. As we have made significant progress manufacturing these components in the United States, the benefits of USMCA have been a positive factor in lowering American energy costs. We look forward to working with the Administration as it pursues multiple imperatives.”
US Senate News:
Source: United States Senator for Commonwealth of Virginia Mark R Warner
WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) released a statement after President Trump signed executive orders to tax goods from Canada, Mexico and China, jacking up the costs for American families:
“President Trump ran for president on a platform of lowering prices, but tariffs do the opposite. These tariffs could cost a typical family $1200 per year. They’re going to make it more expensive for Americans to buy anything from cars and phones to tomatoes and gas – as much as 50 cents per gallon in some parts of the country. We need a targeted response to combat cheating by China – not these across-the-board tariffs, including on our allies, that will increase prices and kill American jobs.”
US Senate News:
Source: United States Senator for Virginia Tim Kaine
WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA) released the following statement after President Donald Trump signed executive orders to impose a new 25 percent tax on goods from Canada and Mexico, and a new 10 percent tax on goods from China:
“Virginians want lower prices, not higher ones, and the last thing we need are new, senseless taxes on imports from America’s three largest trading partners. During President Trump’s first term, his trade wars hit Virginia hard. Our farmers and foresters were especially affected, but everyone suffered. Everyone, that is, except for Trump’s cronies—billionaires, bitcoin bros, and offshore bandits. Here we go again.”
Kaine is committed to protecting Virginia families from price hikes imposed by tariffs. Yesterday, he introduced the Stopping Tariffs on Allies and Bolstering Legislative Exercise of (STABLE) Trade Policy Act to rein in chaos that Trump could create by unilaterally imposing tariffs on allies and nations with a congressionally-approved trade agreement. Last week, he introduced the Protecting Americans from Tax Hikes on Imported Goods Act to shield American families and businesses from increased costs by limiting the president’s authority to impose unlimited tariffs under the International Emergency Economic Powers Act (IEEPA), a law never intended to be used for tariffs.
Source: US State of New York
Earlier today, Governor Kathy Hochul was a guest on MSNBC’s “The Weekend” with Symone Sanders Townsend, Michael Steele and Alicia Menendez.
AUDIO: The Governor’s remarks are available in audio form here.
A rush transcript of the Governor’s remarks is available below:
Symone Sanders Townsend, MSNBC: Well, President Donald Trump just defended his tariffs on Mexico, Canada and China, saying online in part, quote, “Will there be some pain? Yes, maybe, and maybe not, but we will make America great again, and it will be all worth the price that must be paid.” Joining us now to discuss is New York Governor Kathy Hochul.
Michael Steele, MSNBC: Welcome, Governor. That tweet is the musings of a man who has no clue the impact of what he just did. Let’s take, for example, in 2022, total New York-Canada trade increased to $42.6 billion. As we can show on the graph, this rise was comprised of a 19 percent increase in exports and a 28 percent rise in imports.
The states are the ones that will carry the burden of his illiberal, unhinged reaction to whatever — we don’t know. But he somehow thinks that this is a public policy of engaging a tariff war that, somehow, a state like yours is going to be immune from. Talk to us about what this means and Canada’s response potentially to the citizens of your state.
Governor Hochul: Well, we’re deeply concerned about this. We have a strong trade arrangement, and they’ve been partners of ours since the beginning of our country. New York State has one of the largest borders with any country in the world because, you know, we have the water line — the water and land crossings.
But, there’s a synergy between our two communities. Canada and New York State are really– it’s like all part of one region, and we have a lot of trade between us, and it’s critically important for our farmers, and our manufacturers, and all the areas we produce materials that Canada needs that we get that across the border with ease.
Now, Canada — and this is not a surprise — is already talking about retaliatory tariffs on our products. So, our businesses are going to feel it immediately. And also just, why are we doing this? New York State is the economic engine of the country. When you do something that hurts New York — because we are in such close proximity to Canada — it’s going to have a ripple effect across the country, and I’m concerned about that.
So, if this is a temporary measure to get the attention of the other countries — Mexico and Canada, in particular — to talk about fentanyl coming across the border, we’ll continue focusing on that; I’m putting more money on the border to stop that as well, right here in the State of New York. But this is going to be an additional tax on New York residents and American residents overall, and I don’t see a way around that. This is what we’re facing right now.
In a time when I’m working so hard to put money back in New Yorkers pockets, an additional $1,300, $1,400 a year is going to take that money right back out. So consumers are the ones who are going to bear the brunt of this, and that’s what concerns me so much.
Alicia Menendez, MSNBC: You know, Governor, during the past presidential campaign, there were so many Democrats who tried to make it clear that even if you live in a Democratic state, even if you live in a blue state, you would be impacted by some of the proposed changes from this Republican party, from Donald Trump.
We’re now seeing that play out in real time when it comes to abortion access. This, from the Washington Post, you have a New York doctor who’s been charged with prescribing abortion pills to a Louisiana girl. The case appears to be the first instance of criminal charges against a doctor accused of sending abortion pills to another state since the U.S. Supreme Court overturned Roe v. Wade in 2022.
You have said you would never, under any circumstances, turn this doctor over to the State of Louisiana under any extradition request. What other mechanisms are available to you to protect health care workers in New York?
Governor Hochul: I will protect this doctor and all health care workers because this is the continued collateral damage of the overturning of Roe v. Wade that we saw at that moment and we sound the alarms about it, but, sadly, this is the law right now where it’s left to individual states. But, I have to protect my doctors, and my doctors have a right to prescribe FDA-approved medication via telehealth. And for having a doctor in the State of New York who simply answered the call of a mother who wanted to get this prescription filled legally and now to be facing jail time and conviction as a, you know, an accomplice to murder here — where has this country gone? It feels like we’ve lost our minds.
We’re now penalizing doctors who are trying to do what they can in a state like Louisiana that has 60 percent higher maternal mortality rates — sometimes, these medication-assisted abortions can be life saving for someone who’s having complications. My gosh, what has this country come to? So I will continue to stand up strongly to support women’s rights to abortion. This is my mother’s generation’s fight. It’s something we all took for granted, and it’s not there for my daughter — and it better be back in place for my granddaughter. These are the values we espouse in New York, and I will protect this doctor.
I will never, ever sign an extradition agreement to send this doctor into harm’s way to be prosecuted as a criminal for simply following her oath.
Symone Sanders Townsend, MSNBC: Governor Hochul, can we turn to talk about immigration? New York State has literally been in the, I would argue, the top of mind for some Trump administration officials. We have this from our colleague Jonathan Allen on Friday. U. S. President Donald Trump’s new Homeland Security Secretary made sure cameras were rolling when she joined federal agents to arrest migrants in New York City. Secretary Kristi Noem said the publicity created around the arrest was to show that the new administration was taking a different, tougher approach.
What are your thoughts about these stunts is what it looks like, because if you look at the numbers, actually, the Trump administration– these raids aren’t necessarily new, they’re just bringing cameras and the secretaries to execute what ICE had been doing even when President Biden was in office. So I just, your reaction to the target that is on, essentially the backs of people who are migrants in this country, undocumented, but also people who are American citizens who are also being swept up into some of these rates.
Governor Hochul: That’s right, that’s right. So let’s level-set here. ICE has come into the State of New York for many years, whether it’s someone who’s already served time in a prison and they were being removed back to their country if they’ve been convicted of a crime here; if they have a warrant for an arrest, there is cooperation from state and local officials — that is nothing new. So, there’s a lot of drama around this, but I have to make sure that yes, we keep our streets safe, that we remove the gangs that have been terrorizing some of our neighborhoods — yes, that is critically important; I’ll support anyone who can do that. But, we will not let people get swept up into raids when they are simply here trying to earn a living.
What I wanted to do? I want to put people to work. I have 400,000 open jobs in the State of New York at all levels. I have a database with 52,000 jobs of people who said if we can get migrants work authorization, which I desperately need from the federal government, that it’s a whole new ballgame — they’ll hire them. So, this is good for our economy if we can take the people who’ve already come here. And again, our borders are too fluid, they were too open. I believe that we need a strong national immigration policy like the kind I worked on when I was a Staffer for Senator Moynihan and Ronald Reagan, work with Democrats.
I still have hope that there can be a bipartisan approach to dealing with this and have our borders protected, but let’s deal with what has happened already. We have people who are in our communities and children are not going to school now because they’re afraid of their parents being swept up if they pick them up.
And people are cowering in church basements. This is the State of New York. We’re not going to let this happen here. We will work with law enforcement. We’ll make sure that the criminal element is gone, we all want them gone, but we also have a place in our State and we can take care of people who’ve already been here, who are already contributing to our tax base.
They’re doing jobs that so many others didn’t want to do, so let’s recognize that as well.
Symone Sanders Townsend, MSNBC: Governor Kathy Hochul, thank you very much for your time this morning.
Source: The Conversation – Canada – By Sylvanus Kwaku Afesorgbor, Associate Professor of Agri-Food Trade and Policy, University of Guelph
U.S. President Donald Trump has imposed a 25 per cent tariff on most Canadian goods. A senior governmental official said they are expected to come into effect on Feb. 4.
This tariff will have significant economic consequences on both sides of the border, as the U.S. and Canada share one of the largest bilateral trade relationships in the world.
A key concern is the highly integrated supply chains between the two countries. Many goods cross the border multiple times as intermediate inputs before becoming final products. Imposing tariffs at any point in this supply chain will raise production costs and increase prices for a wide range of goods traded between the U.S. and Canada.
For Canada, the tariffs on Canadian products will significantly affect Canada’s competitiveness in the U.S. market by driving up prices. Such tariffs could pose serious challenges for various sectors in Canada, given the country’s heavy reliance on the U.S. economy.
The impact of U.S. tariffs on Canadian prices is likely to differ across sectors and products, depending on their reliance on the U.S. market.
Sectors with a higher dependence on U.S. trade are likely to experience more severe disruptions. If the tariffs make certain products uncompetitive, Canadian producers may struggle to secure alternative markets in the short term.
Industries such as agriculture, manufacturing and energy will experience varying degrees of impact. Energy products and motor vehicles, which represent Canada’s largest exports to the U.S., are expected to be among the most adversely affected.
In the agricultural and forestry sector, wood and paper products, along with cereals, are among Canada’s largest exports to the U.S., with the U.S. accounting for 86 to 96 per cent of these exports, according to data from the World Integrated Trade Solution.
In the energy and mineral sector, crude oil is Canada’s top export, reaching US$143 billion in 2023, with 90 per cent destined for the U.S. Given its critical role as Canada’s largest export across all sectors, it is not surprising that Trump has noted crude oil would subject to a lower tariff of 10 per cent.
When examining the impact on different products, it’s not only the value of trade that matters, but also the share of trade. The share of trade indicates how reliant Canada is on the U.S. compared to other markets.
A high trade share with the U.S. suggests a product is particularly vulnerable to trade disruptions, as Canada depends heavily on the U.S. market for that product. Conversely, a lower share indicates that Canada has diversified suppliers, which reduces its dependence on the U.S.
Read more:
Trump’s tariff threat could shake North American trade relations and upend agri-food trade
For instance, in 2023, Canada’s top exports to the U.S. included vehicles and parts, nuclear machinery and plastics, according to data from the World Integrated Trade Solution. The U.S. accounted for 93 per cent of vehicle and parts exports, 82 per cent of nuclear machinery exports, and 91 per cent of plastics exports.
This data highlights Canada’s extreme dependence on the U.S. market, making these industries within the manufacturing sector highly susceptible to the tariff. This could harm jobs in the manufacturing sector, which is vital to employment in Canada, providing jobs for over 1.8 million people.
Canada’s reliance on the U.S. is also evident in imports. In 2023, vehicle imports totalled US$92 billion, with the U.S. accounting for 58 per cent of that amount.
The dependence is also evident in the agri-food and forestry sector, where Canada heavily relies on U.S. imports. This suggests that retaliatory tariffs on agricultural goods from the U.S. could have a substantial impact on food prices in Canada.
Canada has announced it’s imposing $155 billion of retaliatory tariffs on U.S. imports in response. This could contribute to inflationary pressures within Canada.
Prime Minister Justin Trudeau says this includes immediate tariffs on $30 billion worth of goods as of Tuesday, followed by further tariffs on $125 billion worth of American products in 21 days’ time to “allow Canadian companies and supply chains to seek to find alternatives.”
This will include tariffs on “everyday items such as American beer, wine and bourbon, fruits and fruit juices, including orange juice, along with vegetables, perfume, clothing and shoes,” and also on major consumer products like household appliances, furniture and sports equipment, and materials like lumber and plastics.
Given Canada’s significant dependence on U.S. imports, the retaliatory tariffs will raise the cost of American goods entering the country, further driving up consumer prices and exacerbating inflation.
In its latest policy rate announcement, the Bank of Canada warned of the severe economic consequences of Trump’s tariffs, highlighting their potential to reverse the current downward trend in inflation.
Canada must extend its economic diplomacy efforts beyond the Trump administration, engaging with the U.S. Congress and Senate to advocate for the reconsideration of tariffs on Canadian goods. The Canadian government should persist in leveraging this channel to push for a reversal of the tariffs. This kind of broader negotiation remains the most effective approach to mitigating trade tensions and ensuring stable economic relations with the U.S.
At the same time, Canada must reduce dependence on the U.S. market by adopting a comprehensive export diversification strategy. While the U.S. remains a convenient and accessible trade partner, expanding into emerging and developing markets would help mitigate risks and create more stable long-term trade opportunities.
Read more:
Trump’s tariff threat is a sign that Canada should be diversifying beyond the U.S.
One effective way to achieve export diversification is by expanding free trade agreements (FTAs) with emerging and developing economies. Currently, Canada has 15 FTAs covering about 51 countries, but there is room for expansion. However, signing FTAs alone is insufficient; Canada must ensure these agreements translate into tangible trade growth with partner countries.
International politics is increasingly shaping global trade, making it imperative for Canada to proactively manage diplomatic and trade relations. In recent years, tensions have emerged with key partners such as China, India and Saudi Arabia. These countries could all become potential markets for Canadian products. Given that China is Canada’s second-largest export destination, there is significant potential to expand trade ties.
Additionally, countries like the United Arab Emirates present promising markets, particularly for agricultural products, as the UAE imports about 90 per cent of its food.
Canada stands at a critical juncture in its trade relationship with the U.S. While diplomatic efforts remain essential to averting harmful tariffs, they cannot be the country’s only line of defence.
Boosting productivity is one of the most effective ways for Canada to improve its competitiveness in global markets. Canadian producers should prioritize innovation and the adoption of advanced technologies to enhance efficiency and maintain a competitive edge, particularly as they seek to expand beyond the U.S.
In response to potential U.S. tariffs, the Canadian government should implement a bailout strategy to provide short-term relief and mitigate revenue losses to firms that will be mostly affected. Additionally, Canada should leverage its embassies and consulates worldwide to promote exports and help affected firms identify and access new market opportunities.
By doing this, Canada can position itself as a more self-reliant and competitive player in the global economy — one less vulnerable to shifting U.S. policies.
Sylvanus Kwaku Afesorgbor receives funding from the OMAFRA and the USDA. He is affiliated with the Centre for Trade Analysis and Development (CeTAD Africa).
Naduni Uduwe Welage and Promesse Essolema do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
– ref. Canada-U.S. tariff war: How it will impact different products and industries – https://theconversation.com/canada-u-s-tariff-war-how-it-will-impact-different-products-and-industries-248824
Source: China State Council Information Office 2
China’s manned deep-sea submersible Jiaolong and research vessel Dayang Yihao (Ocean No.1) are set to complete major upgrades in preparation for deep-sea exploration missions this year, according to the country’s oceanic affairs administration.
Jiaolong, named after a mythical sea dragon, is capable of diving to depths exceeding 7,000 meters. The China-made underwater ship has explored waters in the Pacific Ocean, Indian Ocean and Atlantic Ocean.
Its upgrades are currently in progress, and technicians have already completed major enhancements to its critical components, including the lithium battery system.
The sea dragon-inspired submersible is scheduled to undergo tank tests in February and sea trials in the South China Sea in March.
Major upgrades on Ocean No.1 include the installation of remotely-operated underwater vehicles, which will enhance its capabilities and provide reliable support for future deep-sea resources survey and development, said the administration.
Ocean No.1 is China’s first modern comprehensive ocean-going scientific research vessel. With over four decades of service, it has conducted 27 oceanographic scientific expeditions.
Source: China State Council Information Office 3
China’s film industry set a new milestone during the 2025 Spring Festival holiday, with box office revenue from Jan. 29 to Feb. 1 reaching a record 5.75 billion yuan (about 802 million U.S. dollars), surpassing the previous high of 5.73 billion yuan set in 2021.
The figure marks the highest-grossing Spring Festival period in the nation’s cinema history and has solidified China’s position as a global leader in box office revenue for 2025, surpassing North America.
The Spring Festival, traditionally a peak and lucrative period for moviegoing, saw fierce competition among major releases. The Spring Festival holiday was extended by one day to eight days this year, running from Jan. 28 to Feb. 4.
Leading the pack was the animated fantasy “Ne Zha 2,” which earned over 2.3 billion yuan in just four days, according to data released by the box office tracker Beacon.
The sequel to the 2019 hit “Nezha” impressed audiences with its stunning visuals and engaging storyline, earning an 8.6 rating on Douban, a popular Chinese film review platform. The film saw broad appeal, with over 32 percent of viewers opting for group screenings, often bringing along their relatives and children.
Trailing behind was “Detective Chinatown 1900,” a detective thriller that raked in 1.54 billion yuan, securing second place. Part of the successful Detective Chinatown franchise, the film continued to draw fans with its intricate plot and engaging performances.
Third place went to “Creation of the Gods II: Demon Force,” which grossed 826 million yuan. The film added to the trend of multiple strong performers during this year’s holiday season, highlighting a diverse and robust lineup.
Chen Jin, a data analyst from Beacon, expressed his hope that this year’s Spring Festival box office would not only set a new revenue record but also deliver outstanding audience satisfaction. “The strong performance of these films lays a solid foundation for the steady growth of China’s film market in 2025.”
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra
Anthony Albanese has outlined his pitch to improve his and his government’s standing among men, as he insists he can hold onto majority government at the election to be held in April or May.
In a wide-ranging interview on The Conversation’s Politics podcast, canvassing both his plans and current issues, the Prime Minister addresses the gender voter gap the polls have been showing, which is worrying Labor strategists.
On a two-party basis, a December Essential poll had the Coalition on 51% among men, and Labor on 44%, with 4% undecided. Among women, Labor was on 49% and the Coalition on 46%, with 5% undecided.
In a Resolve poll on preferred prime minister, Peter Dutton polled 40% among men, and Albanese 34%. Among women, Albanese was on 36% and Dutton on 31%.
Albanese tells the podcast: “One of the things that we will be really campaigning very hard on is the impact on blue collar workers of the Coalition promises to get rid of same job, same pay [law], the definition of casual in employment [and] their plan to essentially go back to wages going backwards, not forwards.”
As Labor crafts its election policy, Albanese also flags he is looking to do more for young people.
Asked who he feels is being “left behind” in Australia at the moment, he points to the issue of “intergenerational equity”.
“I think that young people feel like they’ve got the rough end of the pineapple compared with previous generations,” he says. This is “something I’m really conscious of”.
Outlining what the government has done or announced already on student debt, housing supply, schools, the universities accord and free TAFE, he suggests there will be further policies targeted towards younger voters.
Albanese confirms he has not locked in an election date. “We make decisions when we finalise them and I’ll consult,” he says.
“But I’ve always said […] one of the problems with three year terms is that they are too short.”
The speculation is the election will be either April 12, or one of the first three Saturdays in May, with May 17 the last practical date.
April 12 would mean scrapping the scheduled March 25 budget. “We certainly are working to hand down a budget in March,” Albanese says. “The ERC [Expenditure Review Committee] will be meeting this week, as it met last week.”
Asked whether he is confident he could still deliver his program if the election resulted in a minority Labor government, Albanese says: “I’m confident that we can achieve an ongoing majority government at this election. I think there are seats that we currently hold that we have good prospects in.”
He names two Victorian Liberal seats he had just visited – Menzies and Deakin – among those he believes Labor can win from the Coalition. (After the redistribution, Menzies is notionally a Labor seat by a tiny margin.)
Asked when Australia might come out of the present per capital recession, Albanese says things are “heading in a positive direction”, but does not nominate a time.
He sounds confident about interest rates falling soon:
All of the economic commentators are saying that that is the most likely prediction of markets. It’s not up to me as prime minister to tell the independent Reserve Bank what to do, but I’m certain that we have created the conditions through, as well as our responsible economic management, producing two budget surpluses – the massive turnaround that we have seen, compared with what the Morrison 2022 budget handed down by the Coalition […] was predicting.
Prompted about the Reserve Bank’s next meeting on February 18, he says “I’m certainly conscious of that date”.
With United States President Donald Trump slapping tariffs on Canada, Mexico and China while foreshadowing wider tariffs, Albanese recalls his phone conversation after Trump was elected, in which he reminded the incoming president that America has a trade surplus with Australia. Australia would “put our arguments forward very clearly” if it faced the threat of tariffs, Albanese says.
Looking ahead to this fortnight’s parliamentary sitting, Albanese confirmed to The Conversation that he will not proceed with the Nature Positive legislation. It had been strongly opposed by the Western Australian government, which has its election on March 8.
But he hopes the Senate will pass the legislation for political donation and spending caps, indicating the government is willing to compromise to get the bill through.
Looking to a second term, Albanese highlights in particular the opportunities presented by the energy transition.
“We are positioned better than anywhere else in the world to benefit, in my view, from this transition that’s occurring.”
He contrasts Dutton’s energy plan, which he describes as a “myopic vision” to make Australia smaller.
“I want Australia to be more successful, to be enlarged in our optimism and our vision. And I want to lead a government that does that.”
Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. Albanese will pitch to blue collar men with heavy warnings on Dutton’s workplace policies – https://theconversation.com/albanese-will-pitch-to-blue-collar-men-with-heavy-warnings-on-duttons-workplace-policies-248851
Source: China State Council Information Office 3
In a studio adorned with antique charm in north China’s Tianjin Municipality, Zhang Yu delicately rotated the clay sculpture with his left hand while skillfully carving intricate details with a tool in his right.
Gradually, a “Lucky Star” clay figure took shape in Zhang’s hands, its face beaming with kindness and joy, while its flowing robes added a sense of movement.
“The Lucky Star held a big gold ingot in his right hand and a ruyi, a symbol of good luck, in his left hand, which means joy and auspiciousness in Chinese culture. It perfectly fitted the festive and peaceful atmosphere of the Spring Festival,” said Zhang, the sixth-generation inheritor of Clay Figure Zhang, a renowned form of intangible cultural heritage in China.
To celebrate the Spring Festival in the Year of the Snake, 59 “Lucky Star” clay figures were released on the fourth day of the Chinese New Year. Many customers had already placed reservations, eager to own a piece of art imbued with good wishes.
Clay Figure Zhang is a household name in traditional folk art in China, and such artwork has a history of nearly 200 years. It was listed in 2006 in the first batch of China’s national intangible cultural heritage.
The craft’s essence lies in its traditional techniques. “The clay used for the Lucky Star sculptures is stored in a cellar for three years before being sculpted. Completing a single piece takes over three months and involves multiple intricate steps, such as shaping, air-drying, firing, polishing and painting,” Zhang explained.
“No matter how the themes and styles evolve, we remain committed to excellence in clay sculpture craftsmanship and the preservation of intangible cultural heritage,” he added.
On Ancient Culture Street, Tianjin’s oldest hub for folk culture and commerce, the red-and-gold signboard of Clay Figure Zhang’s shop stands out, drawing visitors inside.
Stepping into the elegant store, customers are greeted by lifelike, vibrantly painted sculptures depicting historical figures, folklore, daily life, and mythical legends, all displayed in the shop’s windows.
“Each piece is exquisitely crafted and incredibly lifelike — it feels as if the figures’ expressions convey real emotions. I hope my children can experience this intangible cultural heritage firsthand and develop a love for China’s traditional culture,” said Teng Haiming, a visitor from Inner Mongolia, as he explored the shop with his children.
The Spring Festival, the social practice of the Chinese people in celebration of the traditional new year, was added by UNESCO to its list of intangible cultural heritage in December last year.
Clay Figure Zhang also introduced a series of Chinese New Year-themed sculptures to celebrate the inclusion, blending traditional craftsmanship with modern aesthetics.
Zhang noted that while these new pieces retained the realistic style and vibrant colors of Clay Figure Zhang’s legacy, their design and color palettes incorporated contemporary influences.
“We release about five new works each year, continuously integrating modern elements into our clay figures,” Zhang said.
Beyond its traditional sculptures, Clay Figure Zhang has also embraced cultural innovation, expanding into creative merchandise. A wide range of products, such as desk calendars, refrigerator magnets, and stamp books, are displayed in the store.
Among them, a newly launched bookmark stood out. “The bookmark is sealed with wax, similar to a blind box, adding an element of surprise for customers like drawing a lottery,” said Li Dan, deputy general manager of Clay Figure Zhang.
Gao Pengfei, a 24-year-old visitor from Shandong, chose a Guan Gong clay sculpture bookmark inspired by the historical figure renowned for his loyalty.
“These new products bring intangible cultural heritage closer to younger generations, helping tourists better appreciate Tianjin’s unique traditions,” he said.
Li emphasized the importance of keeping traditional culture relevant in modern times. “We can’t just wait for young people to take an interest in intangible cultural heritage. We must engage with the evolving market,” she said.
“During the Spring Festival holiday, tourists from all over China visit our shop. We hope this store serves as a window to showcase the charm of Tianjin’s folk art, culture, and intangible heritage,” Zhang said.
US Senate News:
Source: United States Senator for Wisconsin Tammy Baldwin
Published: 02.01.2025
Baldwin: “Families across the country are going to be paying more out of their wallets from the gas pump and the grocery store – and it will only get worse when retaliation hits”
WASHINGTON, D.C. – Today, U.S. Senator Tammy Baldwin (D-WI) released the following statement on President Donald Trump’s announcement of across-the-board 25% tariffs on imports from Canada and Mexico and a 10% additional tariff on imports from China.
“When it comes to the high-level goals of tackling the fentanyl epidemic and securing our border, President Trump and I agree. We have to do both. Tariffs are an important tool to crack down on other countries’ unfair practices, and one I have long supported using. But the tariffs the President announced today will force Wisconsin families to pay the price. Industries where people grow things and make things – like Wisconsin’s iconic farming and manufacturing sectors – are going to be crushed by this. Families across the country are going to be paying more out of their wallets from the gas pump and the grocery store – and it will only get worse when retaliation hits. If President Trump is going to impose these broad tariffs on our closest trading partners, he needs to do it with a real plan to address retaliation and make sure costs aren’t passed on to hardworking Wisconsinites – but right now, none of those are in place and it’s Wisconsinites and our economy that will suffer the consequences.”
Senator Baldwin has long worked to crack down on other countries exploiting trade loopholes that undermine our manufacturers, farmers, and producers, and also bring illicit drugs like fentanyl into the United States. Last year, Senator Baldwin led her colleagues in calling on the Biden Administration to support a group of families’ petition under Section 301 of the Trade Act of 1974 to hold China accountable for its role in actively supporting the production and export of fentanyl into the United States. Senator Baldwin also led her colleagues in support of the United Steelworkers Section 301 petition to launch an investigation into China’s unfair trade practices in the commercial shipbuilding industry that undermine American workers and jeopardize our national security.
US Senate News:
Source: United States Senator for Rhode Island Jack Reed
PROVIDENCE, RI – Today, U.S. Senator Jack Reed issued the following statement on President Trump’s announcement that he will impose tariffs on goods from Canada, Mexico, and China:
“I am focused on bringing prices down, but Donald Trump isn’t. Trump’s tariffs and economic policies are likely to make things like groceries and construction more expensive and place a burden on working families. There’s no economic or strategic reason to put 25 percent tariffs on Canada and Mexico, while letting China – an actual economic and strategic challenger – face a 10 percent tariff. It’s just another piece of his chaos agenda.
“It’s unclear how effective these tariffs will be, but it’s already clear that American consumers will take a financial hit. This is a de facto ‘Trump tax’ and it will cost Americans in every state.
“President Trump should take a smarter, more balanced approach to our economy that focuses on helping American families and creating opportunities for sustainable growth.”