We appreciate President Trump’s statement yesterday that he is NOT planning on deferring the collection of tariffs. We can no longer listen to the advice of the stateless multinationals. American companies, including CPA members, are suffering from a crash in demand. This is not a recession caused by lack of cheap goods. It is caused…
Editors note: This is a great example of What we are seeing around the country. Manufacturers are repurposing and rising to the challenge. The old Navy Yard’s manufacturers, including printers and distillers, have pivoted to making urgently needed face shields and hand sanitizer. [Corey Kilgannon | March 31, 2020 | NY Times] During World War…
Editors note: the phase 1 US China agreement included measures two stop China’s hacking. Are they breaching? As the coronavirus epidemic reached crisis level in Wuhan, China, in January, a known group of state-backed cyber hackers launched attacks at healthcare companies and other key industries outside the country, according to cybersecurity company FireEye. [Patrick Tucker…
Editors note: Ford and GM need to source ventilator parts from the US. Not offshore like they do with automobiles. American manufacturers fear they are being passed over for contracts to help make essential medical supplies by multinational corporations like General Motors (GM) in favor of more outsourcing to China in the midst of the…
Editors note: This is why we need self reliance on critical products, not just moving away from china. We can’t even rely upon allies. European Union Trade Commissioner Phil Hogan on Monday defended his government’s decision to restrict exports of masks, gloves and other protective equipment in response to the novel coronavirus outbreak, calling the…
Editor’s note: Beth Baltzan explains how the law currently prevents importation of products made in whole or in part by forced labor. We remember the Tariff Act of 1930 because it included the infamous Smoot-Hawley tariffs. But we should remember it for something much more important: it prohibited imports made with forced labor. Back in the day,…
As coronavirus hits, we should realize we’re relying too much on far-flung and stretched global supply chains We’ve heard a lot in recent years about the benefits of a globalized supply chain. But this year, America’s international supply chain was tested by the coronavirus pandemic. It failed. [Jeff Ferry | March 30, 2020 | MarketWatch]…
By David Morse, Tax Policy Director The president just signed the CARES Act after a week of negotiations in the Senate, and a Congressional kerfuffle that required an emergency recall of House members to the Capitol. Newspapers have spent much ink on individual check expectations and considerable corporate loan restrictions. Until Treasury releases guidelines, we…
Editor’s Note: Michael Stumo is CEO of the Coalition for a Prosperous America (CPA). Follow him at @michael_stumo Western economists often believe that China’s economy follows a rough approximation of America’s. But it doesn’t. How, for example, can China build massive overproduction in industry after industry — when there’s already too much being produced? And how can…
Editor’s note: Make the gloves here. This is not a high labor product, as lots of automation is in the process. The United States is relying on rubber glove imports from mostly Malaysia and Thailand in the midst of the Chinese coronavirus, with no clear path for manufacturing the critical medical supply in the U.S.…