President-elect Trump has named two deputy directors of the new National Trade Council he announced last month, one to steer “Buy American, Hire American” efforts and the other focused on the defense industrial base. [Daily News | January 5, 2017 |Inside US Trade] The council, to be led by economics professor Peter Navarro, will advise…
A Republican proposal aimed at cutting tax rates and keeping jobs in the U.S. risks whacking the earnings of big U.S. retailers by driving up the cost of imported clothes, furniture and other goods. [SUSAN PULLIAM, SARAH NASSAUER and RICHARD RUBIN| January 6, 2017 |Wall Street Journal] Among the companies whose earnings are calculated to take a hit…
Ushering in the New Year, President-elect Trump named Robert Lighthizer, a veteran trade negotiator and “harsh critic of China’s trade practices,” to be his lead trade negotiator. Trump’s trade rhetoric has been blood and thunder. He has threatened 45 percent retaliatory tariffs against China and other trade partners that are not living up to their…
The U.S. distributor of Corona beer is already planning ways to avoid raising prices if Congress boosts the tax bill on the company’s Mexican imports as part of a broader tax overhaul, said company chief executive Rob Sands. [VIPAL MONGA and JENNIFER MALONEY | January 5, 2017 |Wall Street Journal] Republicans, who are set to take full…
Washington ~ The Bureau of Economic Analysis (BEA) released a report today showing that the US trade deficit rose by nearly 7% compared to October “America continued, last November, losing the international competition for good jobs and industries,” said Michael Stumo, CEO of the Coalition for a Prosperous America. “The Obama-Bush-Clinton trade agreements promised export…