Global exports of IGs fell by 8 per cent in Q2 2023, totalling $2.3 trillion.
This decline, due to stagnant commodity prices and reduced demand amidst high inflation and.
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Congress routinely engages in targeted, short-term tariff cuts through “miscellaneous tariff bills.” Although conventional wisdom says that unilateral tariff cuts are politically impossible, these bills show that it is possible to reduce tariffs given the right political environment. Proponents of such tariff cuts argue that the cuts support U.S. jobs; critics argue that the economic value of miscellaneous cuts is modest, and that the process is open to abuse because it requires companies that want a tariff cut to ask their legislator to introduce a specific bill on their behalf.