House Subcommittee ignores funding of sanctioned Chinese companies, overlooks violations of U.S. securities laws Washington. The Coalition for a Prosperous America (CPA) this week sent a letter to Rep. Gerald E. Connolly (D-VA) expressing concern over his investigation of a decision to withhold federal employees’ retirement money from Chinese companies. Connolly, the Chairman of the House…
Editors note: As these current crises ebb, we need to get the focus back on currency misalignment that will hamper our recovery. The Treasury is delaying its currency manipulation report, possibly on the back of new tensions with China – which might be labelled again despite not meeting the criteria. We estimate that Vietnam, Taiwan…
Editor’s note: If the phase one deal is pronounced dead, China decoupling becomes even more likely. Remember the phase one trade deal that the Republican Senate really wanted President Trump to ink with China (or else no quick impeachment acquittal, some DC insiders have told me) — well, it’s on life support. [Kenneth Rapoza | June…
By Steven L. Byers, PhD and Jeff Ferry The coronavirus disrupted international trade and led to a collapse in US trade volume which makes it difficult or impossible to draw conclusions about underlying trends. That being said, the April data show that exports are down 28 percent from a year ago and imports down 22.4…
Excerpt: The new bill that Sen. Baldwin introduced, the Country of Origin Labeling Online Act (COOL), would mandate a prominent country-of-origin description for all products sold online. In the wake of the COVID-19 pandemic, Americans are increasingly seeking out “Made in USA” options. This is logical, since federal law mandates that food, medicine, toys, and…
Editors note: America is too dependent upon China for critical minerals. CPA member American Manganese has a way to reduce that dependency in a cost-efficient and environmentally friendly way. “You cannot make steel without manganese. And if you cannot make steel – the world stops.” That’s the glass of cold-water quote from former BHP Billiton…
Editor’s note: Great to see a few thousand workers planned for the reopening of this plant which will make electric pickups. Hopefully this will happen. Lordstown Motors CEO Steve Burns has bold plans to fill the 6.2-million-square-foot facility he bought from General Motors last year. [Jamie L. LaReau | May 22, 2020 | Detroit Free Press]…
First report shows strong reshoring growth in 2019 Washington. The Coalition for a Prosperous America (CPA) today launched its CPA Reshoring Index (CRI) to track the success of the U.S. manufacturing sector in meeting the demands of America’s home market. For 2019, the Index came in at 59, indicating that U.S. manufacturing production increased its…
Editor’s Note: CPA chairman, Dan DiMicco discusses the re-domestication of American manufacturing with Steve Bannon. Dan’s interview starts at the 2:30 minute mark. Follow Dan on Twitter @DanRDimicco [Steve Bannon | May 28, 2020 | War Room Pandemic]
Editor’s note: Good. Leave section 232 alone. We don’t need Congress taking away tools that further national and economic security in trade. Efforts in Congress to reform Section 232 of the Trade Expansion Act of 1962 have stalled because Senate Finance Committee members could not agree on a way forward and too many Republicans were loath…