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…
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…
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…
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…
In the wake of President Donald J. Trump’s decision to impose modest tariffs on Chinese steel imports, a deluge of ostensibly “conservative,” Reagan-era think tanks began zealously parroting an archaic and repeatedly disproven boogeyman of the Eastern intellectual establishment: that tariffs are inherently evil and caused the Great Depression. [John Griffing | May 7, 2018 | WND]…
“This is Orwellian nonsense and part of a growing trend by the Chinese Communist Party to impose its political views on American citizens and private companies,” Sanders said. She said the Trump administration is calling on China “to stop threatening and coercing American carriers and citizens.” Japan Times News Beijing has dismissed the White House’s criticism of China’s…
The battle lines are drawn in the trade war with China, and President Donald Trump can expect little support from the high tech and financial sectors or the economics profession. They argue the U.S. is doing quite well. [Peter Morici | May 7, 2018 | MarketWatch] Donald Trump has lifted growth to 2.9% a year…