The Canadian and American central banks are pulling out all the stops to support the economic recovery, with the latest move being their indications that they expect to hold interest rates near zero over the next few years. However, as the COVID-19 pandemic persists, the hoped-for sustained revival in consumer borrowing and spending is anything but certain. In an unprecedented move on Sept. 16, the U.S. Federal Reserve said it doesn’t expect to raise its key interest rate until 2023, providing a very powerful signal that near-zero rates are here to stay for a long time. A week earlier, the Bank of Canada had said, “The Governing Council will hold the policy interest rate at the effective lower bound [0.25 percent] until economic slack is absorbed so that the 2…
Tesla Inc. is suing the federal government and U.S. Trade Representative Robert Lighthizer to block the Trump administration from collecting tariffs on certain items the electric car maker imports from China.
The California-based electric vehicle and clean energy company filed its lawsuit Monday in the U.S. Court of International Trade, arguing that the Trump administration’s tariffs on the goods are unlawful. It seeks a cancellation and refund of the duties it has already paid, with interest, Bloomberg first reported.
The tariffs were “arbitrary, capricious, and an abuse of discretion,” Tesla’s filing said. U.S. Customs and Border Protection Commissioner Mark Morgan is also named as a defendant in the suit.
It comes after Lighthizer’s office in 2019 blocked Tesla’s request for relief from duties of 25 percent on the company’s Model 3 electric car computer and screen. U.S. trade officials said at the time that the items use technologies that are of strategic importance to Beijing’s national security programs.
“Increased tariffs on this particular part cause economic harm to Tesla, through the increase of costs and impact to profitability,” the company wrote in its request for relief last year. “Due to the complexity of the Model 3 Car Computer and the demanding timelines necessary for Tesla’s exponential growth, Tesla is unable to find another manufacturer to meet our requirements.”
Some $200 billion worth of goods, known as list 3, are currently being hit by a 25 percent duty, while another group of Chinese-made goods worth $120 billion, known as 4A, are subject to a 7.5 percent duty.
List 3 went into effect 2 years ago, while list 4A was hit by the tariff last year. The goods range from electric goods to raw materials.
The company in its lawsuit argues that both sets of items should be declared void, but did not specify which duties it was challenging, or how much it has paid so far, reported Fox Business.
The Epoch Times has contacted Tesla and Lighthizer for comment on the suit.
Lighthizer’s “imposition of List 3 and List 4 duties was arbitrary and capricious because USTR did not provide meaningful opportunity to comment, failed to consider relevant factors when making its decision, and failed to draw a rational connection between the facts found and the choices made,” attorneys for Tesla argued in the lawsuit Wednesday.
In a tit-for-tat trade war, the Trump administration beginning 2018 imposed a series of tariffs on Beijing, before reducing them after a phase one trade deal between the two nations was signed in January 2020. The Trump administration has kept tariffs on $375 billion worth of Chinese goods.
Focus News: Tesla Sues to Block ‘Unlawful’ Trump Tariffs on Chinese-Imported Goods
Facebook has shut down more than 180 fake accounts, groups, pages, and Instagram accounts that it determined to be run in China, which posted content on the U.S. presidential election and spread Beijing’s talking points on a range of topics, from the South China Sea to Hong Kong protests. The U.S. social media giant announced the takedown in a blog post published on Sept. 22, saying that these accounts were a violation of its rule against “coordinated inauthentic behavior on behalf of a foreign or government entity.” In total, 155 Facebook accounts, 11 pages, nine groups, and six Instagram accounts were shut down. The Instagram app is owned by Facebook. Nathaniel Gleicher, Facebook’s head of security policy and author of the blog post, explained that while people behind these accounts…