Smashes previous record mark set in 2014. [Kevin L. Kearns| February, 05 2016 | Trading Away Jobs] U.S. Commerce Department data released today show the U.S. trade deficit with China soared to $365.7 billion in 2015, a massive jump up from the previous year’s record of $343 billion. Said U.S. Business and Industry Council (USBIC)…
EPI summary fact: The sharp decline in the petroleum trade deficit masked a large increase in the non-oil goods trade deficit, which could result in substantial U.S. job losses in the future. Rob Scott | Economic Policy Institute | February 5, 2016 The U.S. Census Bureau reported that the annual U.S. trade deficit in goods…
WASHINGTON — Sen. Rob Portman announced Thursday he will oppose a sweeping trade agreement negotiated by the Obama administration and 11 other countries, mostly in the Asia-Pacific region. [Deirdre Sheesgreen| February, 04 2016 | Cincinnat!] It’s a surprise move from the Ohio Republican, who served as the chief trade negotiator for President George W. Bush and…
A quick report from Ernest Preeg of MAPI: U.S. exports of manufactures in 2015 were down $40 billion, or 3%, imports were up $49 billion, or 3%, and the trade deficit surged $89 billion, or 16%. This equates to a trade-related loss of 620,000 American manufacturing jobs, up from a 400,000 job loss in…
Sen. Bernie Sanders, who has been at the forefront of the fight against the president’s trade agenda, at the debate blasted not just TPP but all trade agreements “over the last 30 years.” “I believe in trade, but I do not believe in unfettered free trade,” he said. “I believe in fair trade which works for…
FOR IMMEDIATE RELEASE February 05, 2016 Contact: Paola Masman, Media Director 202-688-5145, [email protected] Washington ~ The federal government announced today that the US trade deficit worsened yet against last December. Modern trade deals continue to cause failures in US trade performance and loss of dynamic, diverse manufacturing and agricultural supply chains. Here are the relevant points from…
Economic theory holds that removing trade barriers among nations should increase global wealth. But the proposed 12-nation Trans-Pacific Partnership that Congress must soon give a straight up-or-down vote threatens our liberties as Americans and is likely to add almost nothing to U.S. economic growth. [David Cay Johnston| February, 04 2016 | Aljazeera America] I have…
Pete Peterson’s think tank, Peterson Institute for International Economics, just released study in January 2016 predicting great economic growth from the TPP. But the PIIE methods are so detached from reality that the conclusions are wrong. Here are the reasons why. [Celeste Drake| February, 03 2016 | AFL-CIO] 1) The Peterson study follows the North…
Isn’t politics just great? Politicians aren’t exactly known for their honesty on things, often saying things to voters just to get elected. But Hillary Clinton’s views on the Trans Pacific Partnership (TPP) agreement have received quite a lot of scrutiny. After all, while she was at the State Department, she was a strong supporter of…
DES MOINES, Iowa — Donald J. Trump, a billionaire and currently the front-running 2016 GOP presidential candidate, made the case exclusively to Breitbart News on Saturday that the only way to stop Obamatrade is to elect him President of the United States. [Matthew Boyle| January, 30 2016 | Breitbart] Obamatrade is the combination of and intersection…
