By Jeff Ferry, CPA Research Director Establishment free traders often claim trade policy reform is futile, urging us instead to simply trust the free market. Recent experience in Britain shows that one trade policy—currency devaluation—does work, and pretty quickly too. Despite imports growing more expensive, both consumption and exports increased. The British trade deficit has,…
Senate Minority Leader Chuck Schumer on Wednesday needled President Donald Trump to get tougher on trade with Beijing ahead of the former businessman’s Mar-a-Lago meeting with Chinese President Xi Jinping. [ ELANA SCHOR and DOUG PALMER] April 5th, 2017 [Politico] Schumer lobbed his latest challenge at Trump alongside Sens. Debbie Stabenow (D-Mich.) and Bob Casey (D-Pa.), both of…
Senate Minority Leader Chuck Schumer (D-NY) on Tuesday Wednesday President Trump for not taking a tougher approach to trade policy with China despite pledging to do so on the campaign trail, saying he is working with Democrats on legislation that would strengthen trade enforcement – especially as it relates to China. [Jack Caporal] April 5th,…
AK Steel Corporation, the United Steelworkers, and other manufacturers have submitted comments urging the U.S. International Trade Commission to reverse an administrative law judge’s dismissal of U.S. Steel’s antitrust claim against Chinese companies, saying the case is based on section 337 trade-remedy law which functions differently than broader antitrust laws because it is designed to…
Washington~ The Coalition for a Prosperous America (CPA) submitted comments yesterday supporting the Trump Administration’s proposal that all new pipelines use 100% American iron and steel. On January 24, 2017, President Trump issued a directive for the U.S. Department of Commerce (DOC) to develop a plan for requiring the use of domestic steel and iron…
Glenn Duffie Shriver looked like an ideal CIA recruit. Gregarious and athletic, the 28-year-old from Michigan had been a good student with strong interests in world affairs and foreign languages since childhood. What made him even more attractive as a prospective CIA employee, however, was that he had studied and worked in China and was…
The US has the lowest trade barriers and the largest trade deficit in the world — $500bn annually. [Wilbur Ross] April 4th, 2017 [Financial Times] This is why President Donald Trump has directed the US Department of Commerce to report back within 90 days with a comprehensive analysis of the economic realities and the fine details of…
The Senate Finance Committee will reschedule a session to consider the nomination of President Trump’s pick for U.S. Trade Representative, Robert Lighthizer, to ensure that Democratic member Sherrod Brown (OH) — who told Inside U.S. Trade he is likely to vote in favor of Lighthizer — and other Democrats can be present. [Jenny Leonard & Jack Caporal] April…
Today the Commerce Department announced that the US goods and services trade deficit for February was $43.6 billion, down 9.5% from the January figure of $48.2 billion. The reduction occurred despite a $1.6 billion increase in the US-China bilateral deficit. “While one month does not make a trend, a 9.5% decrease our global trade deficit…
MOUNT PROSPECT, ILL. — The United States corporate tax rate has been stuck at 35 percent for three decades. In that time, other leading countries have slashed their corporate rates to an average of 25 percent, with many far below that figure. This tax rate discrepancy puts domestic manufacturers at a competitive disadvantage and creates…
