Jeff Ferry, Chief Economist Steven Byers Ph.D., Senior Economist June 2019 This Briefing Paper looks at the shortcomings of economic models of trade action, their causes, and modifications to improve the accuracy of these forecasting models. Executive Summary From the adoption of NAFTA in 1994, through the Trump administration’s 2018 tariffs, economic forecasts have consistently…
Legislation would block unaudited and state-influenced foreign companies from US capital markets Washington. The Coalition for a Prosperous America (CPA) today endorsed the introduction of the EQUITABLE Act (“Ensuring Quality Information and Transparency for Abroad-Based Listings on our Exchanges”). The bill, co-sponsored by Sens. Marco Rubio (R-FL), Bob Menendez (D-NJ), Tom Cotton (R-AR) and Kirsten Gillibrand…
Excerpt: “Congress must act to strengthen the Buy American Act, not weaken it, eliminate the incentives for offshoring, and provide incentives for bringing manufacturing back to America.” The Buy American Act was passed by Congress in 1933. It required the U.S. government to give preferential treatment to American producers in awarding of federal contracts. The Act…
Editors note: Senator Elizabeth Warren’s economic patriotism plan creates a split with Democrats still dedicated to cosmopolitan globalism. In some ways it is closer to President Trump’s economic nationalism. The plan is to marry industrial policy to environmentalism and transform the economy. [Matthew Yglesias | June 4, 2019 | Vox] Sen. Elizabeth Warren is out…
Excerpt: U.S. products became globally competitive, and the U.S. trade deficit shrank. In 1988, Congress passed a law requiring the Treasury Department to issue twice-yearly reports identifying countries that manipulate their currencies After a long delay, the Treasury Department just released its latest semi-annual report on global currency exchange policies. The congressionally mandated report provides an assessment of…
