The 2016 election was a referendum on the imbalanced global trading system. It lost. President Donald Trump’s victory and Bernie Sanders’ insurgency both drew urgency and energy from the millions of livelihoods our trade deficits have cost. [Howard Richman, Raymond Richman, and Jesse Richman| February 10, 2017 |American Thinker] The vast U.S. trade deficit siphons…
MEXICO CITY—While the Trump administration talks of new import tariffs, there is already one in place that would slam manufacturers of pickup trucks in Mexico if the U.S. scuttles the North American Free Trade Agreement. [ROBBIE WHELAN| February 15, 2017 |Wall Street Journal] Under the so-called Chicken Tax first imposed more than a half-century ago, the U.S.…
DETROIT — There are many reasons for the steady success of the three major American automakers in recent years, but none are bigger than the surging sales of full-size pickup trucks. [Bill Vlasic| February 13, 2017 |New York Times] General Motors, Ford Motor and Fiat Chrysler dominate the segment in the United States market, and they rely…
The Senate voted 53-47 to confirm Steven Mnuchin as Treasury secretary Monday night and could soon take up the nomination of Wilbur Ross for Commerce secretary. [Daily News| February 13, 2017 |Inside US Trade] Mnuchin gained the votes of all Senate Republicans and one Democrat, West Virginia’s Joe Manchin, after Democrats ran out of ways…
Wearing clothes that are made in the U.S.A. is almost a political statement these days. President Trump makes a point of highlighting any news that manufacturing jobs are being moved back to the United States, even though both his and his daughter’s eponymous lines are not made stateside. Ashley Biden, daughter of former VP Joe Biden and Dr. Jill Biden, launched…
Passionate defenders of the “global rules-based trading system” should be wary of thinking their views are more informed than President Trump’s. He has been branded a protectionist and thus many conclude he is incapable of exercising world leadership. Meanwhile, those who embrace the virtues of global free trade disregard the fact that the “rules” are…
WASHINGTON—The White House is exploring a new tactic to discourage China from undervaluing its currency to boost exports, part of an evolving Trump administration strategy to challenge the practices of the U.S.’s largest trading partner while stepping back from direct confrontation. [Bob Davis| February 13, 2017 |Wall Street Journal] Under the plan, the commerce secretary…
By Jeff Ferry, CPA Research Director The fear is growing that a rising dollar could sabotage any effort by the Trump Administration to improve the U.S. trade balance as a means of improving the health of our manufacturing industry. Commentators have suggested that the prospect of rising interest rates and higher U.S. economic growth, combined…
The U.S. needs better trade deals and if that means walking away from the World Trade Organization to make that happen, President Donald Trump may do just that, a former Trump trade advisor told CNBC on Friday. [Michelle Fox| February 10, 2017 |CNBC] Dan DiMicco, former president and CEO of Nucor, said China has not lived up…
by Michael Stumo The House GOP Tax Reform plan is very bold and includes some very helpful conceptual shifts. But it has some very strange results too. Let’s take a look at how it matches up against CPA’s preferred tax reform for trade competitiveness. Speaker Paul Ryan and Chairman Kevin Brady (Ways and Means Committee)…