By Michael Stumo, CEO of CPA, and Jeff Ferry, Research Director Some influential economists misleadingly assert that US trade deficits are caused by American households failing to save enough and also by federal budget deficits. Taking action against strategic foreign economic policies, their story continues, would be futile. This paper comprehensively disproves the savings rate…
After nine years, the United States has lost — to Guatemala — the first-ever labor enforcement case brought to dispute settlement under a free trade agreement, sources told Inside U.S. Trade. [Isabelle Hoagland & Jenny Leonard] June 20th, 2017 [Inside Trade] The dispute, which marked the first time a labor rights complaint was lodged under a free…
The Ranchers-Cattlemen Legal Action Fund, United Stockgrowers of America (R-CALF USA) and Cattle Producers of Washington (CPoW) have filed a lawsuit in the United States District Court for the Eastern District of Washington Monday against the U.S. Department of Agriculture. The suit alleges that USDA regulations that allow beef and pork to be classified as “domestic products,”…
With major issues still unsettled, it would appear there was some movement on Monday on one piece of end-of-session legislation: A Buy American program. [Matthew Hamilton] June 19th, 2017 [Times Union] Senate Independent Democratic Conference Leader Jeff Klein said legislative leaders and the governor are nearing a three-way agreement on Buy American, a proposal pushed by Gov.…
U.S. cattle groups are asking a U.S. district court to vacate the Agriculture Department’s beef-labeling regulations because they do not mandate that all imported beef labels show countries of origin, which the groups claim is a violation of U.S. law. [Brett Fortnam] June 20th, 2017 [Inside Trade] R-CALF USA and the Cattle Producers of Washington filed…
Democratic lawmakers, troubled by what they view as a lack of transparency and “due process” in the administration’s reviews of whether steel and aluminum imports are harming national security, are demanding briefings on both Section 232 investigations “immediately.” [Jenny Leonard] June 20th [Inside Trade] “It is troubling that to date the Administration has not briefed…
In most administrations, lower-ranking officials make the incendiary comments, while the president rises above to offer the calmer, more soothing explanations of his policies. [Gerald F. Seib] June 19th, 2017 [The Wall Street Journal] In the Trump administration, the opposite is true. That’s especially the case on foreign affairs—and in particular on trade policy. President…
Washington ~ The Coalition for a Prosperous America (CPA) released a paper today addressing common but misleading economic arguments that America’s low savings rate causes trade deficits. Authors Michael Stumo and Jeff Ferry show how deliberate action by trade surplus countries like China and Germany transmit to the US in the form of trade deficits that kill…
