Editor’s Note: Michael Stumo is CEO of the Coalition for a Prosperous America (CPA). America’s annual trade deficits with China have soared—rising from $83 billion in 2000 to $420 billion in 2018. [Michael Stumo | April 5, 2020 | Industry Week] Twenty years ago, President Clinton gave a speech urging Congress to approve normalized trade with…
Editors Note. The US should do this too. Japan has earmarked $2.2 billion of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners. [Isabel Reynolds | April 8, 2020 | Bloomberg] The extra budget, compiled to try to offset…
Editors Note: A mea culpa from a Wall St financier who offshored production to China. It’s clear that our medical supply chains are in complete chaos. Supplies are so short that some doctors and nurses in New York City reverted to wearing garbage bags in place of unavailable medical gowns or protective gear, to reusing…
Editors note: COVID will cause the China decoupling trend to massively accelerate. The coronavirus COVID-19 that originated in China may be the last straw that finally has triggered American companies to exit China. In the Global manufacturing consulting firm Kearney’s seventh annual Reshoring Index released on Tuesday, co-author Patrick Van den Bossche writes: [Hank…
Editors note: This article is very well done. Miami: It’s time to practice social (and economic and political) distancing from Patient Zero of the Covid-19 outbreak, the Chinese Communist Party (CCP). [Cleo Paskal | April 4, 2020 | Sunday Guardian Live] This global disaster has one origin, the nature of the CCP. I’ll explain. Some…
Editors note: This is big because it’s the first time that the FTC has issued a financial penalty against a company for false “Made in USA” claims. Home products and kitchen wares company Williams-Sonoma Inc. has agreed to stop making false, misleading, or unsubstantiated claims that all of its Goldtouch Bakeware products, its Rejuvenation-branded products, and…
Editor’s note: President Trump has formalized the national security review of foreign companies seeking to participate in the US telecom sector. This was an informal Team Telecom committee before. The purpose is to block foreign owned telecom industry firms from doing business here, especially from China or Russia, for national security reasons. By the authority…
Editors note: Navarro was ahead of his time on the China threat. And now the corona threat. Both are now unfortunately defining our country. Media and stateless MNCs need to back off their attacks on him. A memo from Peter Navarro is the most direct warning known to have circulated at a key moment among…
Editor’s note: There is bipartisan concern with imports of goods using forced labor, especially from China. US law bans such goods from being imported, but stateless multinationals ignore the law and Customs enforcement has not been strong. WASHINGTON— Rep. Ilhan Omar (D-MN) led Members of Congress on a series of letters to the CEOs of American companies today,…
Editor’s note: We are reposting this press release by Rep. Kevin Brady because CPA members, and their families, with COVID related health bills may be able to benefit from the program described below. UPDATE: The Trump Administration announced Friday they will be using a portion of funding from the bipartisan CARES Act to reimburse hospitals…
