O'Neill: Don't look to Reagan record to counter Trump's protectionist agenda

Hey trade watchers, buckle up! President Trump just hiked tariffs on China to a staggering 125 percent while granting a 90-day reprieve to allies like Japan, the EU, and Vietnam. But here’s the twist—this so-called free trade drama mirrors Reagan’s 1980s playbook, which, despite the rhetoric, was deeply protectionist. From steel to semiconductors, Reagan's policies shielded U.S. industries, much like Trump’s. The scholarly insight? These moves distort global supply chains, erode WTO norms, and invite retaliatory tariffs, undermining trade certainty. So while history repeats, the cost of protectionism today may be a fractured global economy tomorrow. Stay tuned.https://www.detroitnews.com/story/opinion/2025/04/10/oneill-dont-look-to-reagan-record-to-counter-trumps-protectionist-agenda/83010674007/

Comments

Post a Comment

Popular posts from this blog

Industry Experts Needed for Key PackUK Advisory Groups

"Big news in UK packaging—PackUK is assembling expert advisory groups to shape the future of the pEPR scheme. With applications open until March 10, 2025, industry leaders can influence recyclability standards, waste management efficiency, and consumer behavior strategies. But here’s the key takeaway for paper packaging—this is a golden opportunity to push for fiber-based solutions in recyclability assessments. As plastic regulations tighten, paper’s role in sustainable packaging could expand dramatically. Stay ahead—get involved now!"https://www.miragenews.com/industry-experts-needed-for-key-packuk-advisory-1408914/
Read more

Trump orders reciprocal tariffs on all countries

"Big news from Washington—President Trump just signed an executive order enforcing reciprocal tariffs, meaning if another country taxes U.S. goods, the U.S. will hit back with the same tariff. While steel and aluminum industries brace for impact, the paper packaging sector isn’t immune. Higher tariffs on imported machinery and raw materials like specialty paper could drive up costs for packaging manufacturers. This could accelerate the shift towards domestic sourcing, but will mills keep up with demand? Supply chain resilience just became the name of the game. Stay tuned!"https://www.supplychaindive.com/news/trump-reciprocal-tariffs/740110/
Read more

Layoffs, closures announced by Dow, Orbis, Greif in January

"Major shifts are rocking the packaging industry in 2025, with over 6,000 jobs affected by closures in 2024. Greif is shutting two U.S. mills, impacting 140 workers, while Orbis relocates from Wisconsin to Texas, cutting 109 jobs. Packaging Corporation of America and RR Donnelley are following suit, affecting 103 and 88 workers respectively. European players like Ardagh Glass and O-I Glass are also scaling back due to reduced demand. But here’s the insider scoop: this consolidation signals a pivot to higher efficiency and eco-friendly technologies. For paper packaging, it’s a wake-up call to innovate faster, as sustainability and cost pressures reshape the market landscape."https://www.packagingdive.com/news/layoffs-january-2025-packaging-corporation-america-orbis-dow/738709/
Read more