Trade Deficit Hits Four-Year High

By Jeff Ferry, CPA Research Director The United States trade deficit for 2016 rose to $502.3 billion, its highest level since 2012, as a growing U.S. economy, a rising U.S. dollar, mercantilist practices by many foreign trading partners, and generally lackluster economic growth in foreign markets combined to make the trade balance a negative force in…

Group Launches “COOLin100” Campaign

Billings, Mont. One of the staunchest supporters of mandatory country of origin labeling (COOL) for beef, R-CALF USA, is launching a new campaign called “COOLin100.” The campaign calls on the new Trump Administration and new Congress to reinstate COOL for beef and pork during the Trump Administration’s first 100 days in office. The idea to launch the new…

Border Tax Adjustability Making Progress on the Hill

I’ve been talking to some of the Coalition for a Prosperous America’s lobbyists about the current situation for border-adjustable taxes, i.e. taxes that might help improve America’s trade situation, up on Capitol Hill. What they told me is basically good news. To wit: [Ian Fletcher| February 4, 2017 |Huffington Post] “We’ve pushed for more border adjustability via…

Globalization’s one-way street

At Davos Chinese President Xi extolled the virtues of globalism. Lo barely one week into President Trump’s administration, Chinese financial-services and payments colossus Ant Financial is buying MoneyGram, America’s second-largest money-transfer network. It underscores however that while the U.S. is wide-open for China’s payments dragons, notwithstanding its 2001 WTO commitment to completely open its domestic…

Brady, Neal confident Trump will abide by TPA rules, time lines for NAFTA renegotiation

Following President Trump’s announcement that he wants to speed up the statutory guidelines for a renegotiation of the North American Free Trade Agreement, House Ways & Means Committee Chairman Kevin Brady (R-TX) and ranking member Richard Neal (D-MA) downplayed the idea while expressing confidence that the administration’s trade team will adhere to the rules laid…