By Steven L. Byers, PhD, CPA Senior Economist The US trade deficit in goods and services for September 2019 fell 4.7 percent or $2.6 billion, to $52.5 billion, as imports declined more than exports. The September decrease is due to a $2.7 billion decrease in the goods deficit, to $71.7 billion, and a decrease in…
Editors note: Chinese owned Smithfield Foods shipping pork to China amidst Asian swine flu problems. SMITHFIELD, Virginia (Reuters) – Smithfield Foods’ slaughterhouse in Virginia used to carve up pork for American sandwiches and holiday dinners. But workers now box up pig carcasses to ship to China, according to employees, local officials and industry sources. [Tom…
Editors note: Wall Street whines about tariff uncertainty. But the certainty we need is a policy to decouple from China. Then investments in production in the US will become even more attractive Anyone who says businesses can’t move supply chains is wrong. They moved them to China a few years ago. And they can move…
Editor’s note: China is enacting laws now to make at least the appearance of complying with the oral Phase One agreement with President Trump’s trade team. China on Wednesday published new policies in areas the U.S. has put front and center in trade negotiations, releasing rules intended to strengthen intellectual property protections and stabilize its…
France made some big news recently in the world of global taxation. It enacted a tax targeting large U.S. tech companies – including Facebook, Amazon, Google and Apple – that are earning massive global profits. For years these multinational enterprises have avoided paying corporate taxes in the U.S., thanks to shell operations in tax havens like the…
It makes little sense for American investors to risk their money on shadowy companies, as this op-ed points out. Enron stock was valued at $83.13 per share back in December 2000. Its market capitalization exceeded $60 billion. By November 2001, its per-share value had fallen to $1. [Michael Stumo | October 13, 2019 | LifeZette]…
Editors note: CPA has previously praised Peter Navarro‘s action fixing the requirement by the Universal Postal Union that the US subsidize the delivery of small packages coming in from China. A recent deal to reform global mail delivery shows that a strong, principled negotiation strategy gets results. [Peter Navarro | October 15, 2019 | NY…
Editors note: NBA owner on his amoral China stance – “I am not a guy that wants to go out of business … and other than the Sixers, my loyalty is all about who is going to make us the most money.” Houston Rockets general manager Daryl Morey sparked an international incident by voicing support…
Editors note: The China/Amazon/FedEx strategy finally comes to light as a major story. The de minimis loophole must be closed. And can be partially closed by administration action. CBP chose to give priority to Sec 321 (the de minimis authority stupidly expanded by Congress) over the 301 duties but did not have to. And more…
Excerpt: “For every 1,000 people who lost their jobs in a county there was a 2.7% rise in opioid-related overdose deaths. After fentanyl entered regional heroin supplies in 2013, the same 1,000 trade-related job losses led to an 11.3% spike in overdose deaths.” The Sackler family was once celebrated for its philanthropy. Now the owners of…
