So much for that showdown with China over its trade abuses. The Trump administration and its counterparts in Beijing continue rapidly deescalating their confrontation, with the U.S. reportedly agreeing to a deal to drop severe penalties on Chinese telecom company ZTE as the Chinese consent to removing billions of dollars in tariffs on American agricultural products.…
The U.S. government was well aware of China’s aggressive strategy of leveraging private investors to buy up the latest American technology when, early last year, a company called Avatar Integrated Systems showed up at a bankruptcy court in Delaware hoping to buy the California chip-designer ATop Tech. [Cory Bennet & Bryan Bender | May 22,…
Questions remain about just how many more U.S. exports China’s promised to buy to avert a trade war: U.S. officials have floated the figure of $200 billion annually, which would cut the bilateral trade deficit in half. Even if that were true, however — and Chinese officials have denied it — that massive buying spree wouldn’t bring down the overall U.S. trade…
President should mend or end NAFTA, not tinker at the margins In recent months, trade negotiators for the US, Mexico, and Canada have been considering an overhaul of the 1994 NAFTA trade agreement. Due to opposition from Canada and Mexico, as well as the failed free trade lobby, insufficient progress has been made. The Trump…
President Trump’s tough-guy persona is taking a beating from China, judging from the reaction of some of his allies on Capitol Hill and in the trenches of the trade wars. [David Lynch | May 20, 2018 | WaPo] The former business executive, who prides himself on his negotiating savvy, is facing criticism for bending to…
While California isn’t Trump country, Californians may find a curious silver lining in the president’s recent actions on trade, particularly with China. In part, that’s because the trade issue doesn’t cut cleanly down party lines. Most of California’s Democratic delegation is ostensibly with the president on trade — and they share his opposition to free…
Address by Michael Stumo, CEO, the Coalition for a Prosperous America (CPA), to the John William Pope and Jesse Helms Center Foundations. May 11, 2018, Raleigh, NC. Foreign Policy, Trade, and Energy Challenges in the Age of Trump. Trump and “The American System” of Economics that We have Forgotten Alexander Hamilton was the father of…
Dan DiMicco, Chairman of CPA: “The Trump administration framework deal with China, as reported this weekend, is on the wrong track. China has agreed to buy commodities that it would buy anyway. The deal does nothing to reduce the US trade deficit, grow American jobs, or boost domestic manufacturing. The Section 301 tariffs are designed…
Over the past two decades, US farmers and manufacturers have struggled mightily against subsidized competition from overseas. Almost 5 million factory jobs have disappeared since 2000, including almost 300,000 in Illinois alone. This decline in good jobs has been particularly evident in America’s steel sector, with massive overproduction in China driving a global steel glut that has…
Analysts and former federal officials said on Monday that the U.S. must decrease its dependence on Beijing for components of essential medicines and called for congressional action to incentivize U.S. pharmaceutical production. [May 7, 2018 | Inside US Trade] “Eighty percent of the active ingredients in medicines come from China and India,” Rosemary Gibson, senior…