Do trade deficits matter? The question is important because America’s trade deficit in goods is large and persistent, about $2 billion every day. [PETER NAVARRO| March 5, 2017 |Wall Street Journal] The economic argument that trade deficits matter begins with the observation that growth in real GDP depends on only four factors: consumption, government spending,…

China bears the brunt of U.S. anger over unfair trade, but Germany’s foreign surpluses are now far larger and may be more consequential for America’s economy and the rest of the world. [TOM FAIRLESS| March 6, 2017 |Wall Street Journal] Low-wage Chinese workers have put downward pressure on U.S. manufacturing wages for years, but Germany’s…

Steel attorney Stephen Vaughn has been named the Office of the U.S. Trade Representative’s general counsel and acting U.S. Trade Representative, according to the agency. [Jenny Leonard| March 3, 2017 |Inside US Trade] Vaughn, who was a member of President Trump’s USTR transition team, was expected to be chosen for the general counsel’s job once…

Law360, New York (March 3, 2017, 3:31 PM EST) — President Donald Trump’s executive order calling for U.S. pipelines to be built with American steel won’t apply to TransCanada Corp.’s controversial Keystone XL project, whose completion he has pushed for, the White House confirmed on Friday. [Keith Goldberg| March 3, 2017 |Law 360] The order issued by…