Editors note: We definitely need an agro industry program to bolster rural America. Especially to shield agriculture from trade conflict retaliation by foreign countries when the government goes to bat for manufacturing. However we do NOT need to subsidize foreign or domestic multinational agribusinesses. Lawmakers want to know why a Brazilian-owned company got payments from…
Editors note: Chinese and multinational companies continue cheating. Customs enforcement and tighter laws are needed Many save by tweaking assembly and shipping processes rather than by moving operations to U.S. [Katy Stech Ferek | February 6, 2020 | WSJ] WASHINGTON—Many U.S. companies are maneuvering to sidestep tariffs on Chinese imports, trade lawyers and logistics consultants…
Editor’s Note: Adopt Sales Factor Apportionment taxation and this tax litigation becomes irrelevant. Because internal profit shifting becomes irrelevant. Simply tax MNC global profit in proportion to sales occurring in US. Ignore subsidiaries. Government challenges social-media giant’s transactions with its Irish subsidiary [Richard Rubin | February 8, 2020 | WSJ] Facebook Inc. FB 0.03% and the…
Long-overdue rule says currency undervaluation is a trade subsidy Washington. The Coalition for a Prosperous America (CPA) today stated its appreciation for a new Department of Commerce rule that would impose countervailing duties on imports benefiting from foreign currency undervaluation. CPA has long supported such action and was a key advocate for House and Senate…
U.S. Trade Deficit Declines in 2019 China trade gap falls significantly due to tariffs Washington. Federal data released this morning show that America’s enormous international trade deficit in goods and services fell in 2019 for the first time in six years. According to the U.S. Commerce Department, the trade deficit dropped 1.7 percent to $616.8…
By Steven L. Byers, PhD and Jeff Ferry The US trade deficit in goods and services fell for the first time in six years in 2019. That’s according to US Commerce Department figures which showed our trade deficit dropped 1.7 percent to $616.8 billion in 2019. The drop in the deficit was all the more…
Editor’s note: Denying exemptions to China tariffs is good news. US companies have a greater chance to open new production lines and capture these markets when exemptions are denied. Make it here and there is no tariff risk. Officials say the levies encourage U.S. companies to build or source products domestically [Anthony DeBarros and Josh Zumbrun |…
Editor’s note. This Fox News clip with Peter Navarro describes an important new initiative to stem the flood of counterfeit goods into the US. It also calls into question the longstanding program of allowing small international mail items into the country tariff-free. Acting Customs and Border Protection Commissioner Mark Morgan and assistant to the president…
Editor’s note: The US China Economic & Security Review Commission had a very important hearing showing why we should not be seeking greater financial integration with China. Here is the video of that hearing. AGENDA | Hearing on “China’s Quest for Capital: Motivations, Methods, and Implications” [January 23, 2020 | USCC.gov] 9:15 AM – 9:20 AM: …
Editor’s note: We used to apply trade sanctions to countries that abused their citizens. The case of a Chinese student jailed for tweets he sent while studying in America underscores that being overseas is no protection from Beijing’s censors. [January 23, 2020 | Bloomberg] Luo Daiqing, who attends the University of Minnesota in the U.S.,…