Why Fixing Trade Deficits Is Essential

In 1965, when we imported less, manufacturing employed 24% of the U.S. workforce. By 2015, substantial portions of our manufacturing base had moved overseas, and domestic manufacturing had shrunk to just 9% of employment. [Frank Berlage| January 7, 2017 |Barrons] The U.S. has now run a trade deficit for 40 years, and at present levels…

What to look for from CPA this year

by Michael Stumo With the election behind us and the new administration in front of us, what can you expect from CPA and its bipartisan membership this year? The short answer is that we will consolidate our trade wins and shoot for more. The Trans-Pacific Partnership is dead, so our campaign to kill it ended…

The Ivory Tower is Crumbling on Trade Theory

by Michael Stumo The American Economics Association is fretting the fact that their economic theories are no longer trusted. University education material is starting to include criticisms of and alternatives to old trade theory that is impervious to acknowledgement of glaring and persistent failures. On the second point, I just had a long interview with…

China bars US credit cards too

Ushering in the New Year, President-elect Trump named Robert Lighthizer, a veteran trade negotiator and “harsh critic of China’s trade practices,” to be his lead trade negotiator. Trump’s trade rhetoric has been blood and thunder. He has threatened 45 percent retaliatory tariffs against China and other trade partners that are not living up to their…