President Donald Trump declared China the “grand champions” of currency manipulation on Thursday, just hours after his new Treasury secretary pledged a more methodical approach to analyzing Beijing’s foreign exchange practices. [Steve Holland and David Lawder| February 24 2016 |Reuters] In an exclusive interview with Reuters, Trump said he has not “held back” in his assessment that…
The Coalition for a Prosperous America (CPA) supports Trump administration efforts to improve export, import and trade deficit measures. Administration officials have reportedly discussed returning to trade performance measures that exclude “pass through” goods from the calculations, i.e. goods which enter the U.S. and merely pass through en route to a foreign country without change. The US International Trade…
President Donald Trump’s former senior trade adviser told Business Insider the border-adjustment tax proposal being discussed in Washington could help solve what he believes are major issues with the North American Free Trade Agreement. [Allan Smith| February 22, 2016 |Business Insider] Dan DiMicco, the former Nucor CEO and Coalition for a Prosperous America board member…
WASHINGTON—Lawmakers from both parties are mounting efforts to bolster the federal government’s scrutiny of surging Chinese investment in the U.S., emboldened by President Donald Trump’s anti-China rhetoric on trade. [KATE O’KEEFFE | February 21, 2017 |Wall Street Journal] They have yet to coalesce around any one plan, and the disparate ideas so far show early battle…
By Michael Stumo, CEO of CPA The most recent outrage for the globalists at the Wall Street Journal editorial board is a proposed Trump administration effort to resolve two different versions of government reported trade statistics for the better. Since the WSJ opinion editors do not think trade deficits matter at all, one wonders why…
By Michael Stumo, CEO of CPA Fake trade news abounds. Periodically politicians, reporters or pundits who should know better warn of a “trade war”. A trade war, they fret, will happen if the US defends its economic interests by taking action. That action will certainly (or could possibly, maybe, eventually) be found unlawful by a…
Coalition for a Prosperous America CEO Michael Stumo told Inside U.S. Trade his organization supports the Trump administration’s “shift towards consistently removing the inaccuracies caused by including pass-through goods — or re-exports — from the trade data.” “While there can be inaccuracies in both calculations — as in many government statistics — the narrower Domestic Exports minus…
By Jason Cooper, CPA Research Assistant In 2016 the U.S. ran an overall $946 billion trade deficit* in goods, seven times the 1992 level. In the 23 years from 1992 to 2016, the deficit has risen dramatically, from 1.3% of our GDP to 5.1%. Our global goods deficit is driven by deficits with a handful…
By Jeff Ferry, CPA Research Director Today the CPA published a new article on the U.S.’s Top Ten Bilateral Deficit Nation Trading Partners featuring the latest data for last year. You can read it here. In a nutshell, our trade deficit in goods has increased twenty-fold in the last 25 years to total $956 billion last…
WASHINGTON—The Trump administration is considering changing the way it calculates U.S. trade deficits, a shift that would make the country’s trade gap appear larger than it had in past years, according to people involved in the discussions. [WILLIAM MAULDIN and DEVLIN BARRETT | February 19, 2017 |Wall Street Journal] The leading idea under consideration would exclude from U.S.…
