Editors’ note: Very important interview. Key points. Mohammed El–Erian, chief economic advisor to Alliance, says the financial economy is overexposed to the world as we deglobalize. But the US real economy is, relative to finance, insulated from the rest of the world. El–Erian makes these points at the beginning of the 7 minute clip. 1. US consumer…
Editor’s note: Reshoring to the United States from China continues. A U.S. cabinet maker will move its production to Lancaster County from China and establish its headquarters in a former Duracell building in that county. [Ken Elkins | August 15, 2019 | Biz Journals] Adornus Cabinetry, which makes stylish frameless cabinets and other products for…
Editors note: Anyone who believes Huawei is a legitimate player on the world stage is uninformed. Employees embedded with cybersecurity forces in Uganda and Zambia intercepted encrypted communications and used cell data to track opponents, according to a Wall Street Journal investigation [Joe Parkinson, Nicholas Bariyo and Josh Chin | August 15, 2019 | WSJ] KAMPALA, Uganda—Huawei…
Editor’s note: The Chinese are working hard to circumvent the tariffs by trans-shipping through other countries. Wilbur Ross and the Department of Commerce are responding. The Commerce Department on Wednesday announced it is self-initiating a first-of-its-kind probe of whether corrosion-resistant steel products from several countries is circumventing U.S. antidumping and countervailing duties. [August 14, 2019…
Excerpt: The study states that the tariff would stimulate the economy through two channels. The Coalition for a Prosperous America (CPA) released updated study results in July showing that a permanent across-the-board 25 percent tariff (PATB-25) on all imports from China would stimulate GDP growth and jobs in the U.S. economy. [David Lam | August 14,…
Editors note: Roger Simmermaker is a CPA member. The old Washington consensus on free trade was bipartisan. We are forging a new bipartisan Washington consensus on a trade strategy that wins the global competition for good jobs and industries. Exclusive: Roger Simmermaker explains manufacturing stimulates economic growth [Roger Simmermaker | August 10, 2019 | WND]…
Editors note: This is the US Trade Representative’s announcement on the new 10% tariffs against Chinese imports. Some are delayed until December 15 to avoid any price increase risk for the Christmas shopping season. CPA continues to support increasing tariffs on all Chinese products. Washington, DC – The United States Trade Representative (USTR) today announced…
By Michael Stumo Jennifer Hillman, a former Clinton trade official, recently wrote a misleading opinion article in the New York Times entitled “How to Stop Trump’s Trade War Madness.” Not only did Hillman work in the Clinton’s Office of the US Trade Representative, but she was USTR General Counsel and oversaw implementation the Uruguay Round…
Editors note: Tariffs are not taxes on consumers. The supply chain is being disrupted away from China. Trump’s threat to impose tariffs on more consumer goods leaves industry anxious [Alistair Gray | August 9, 2019 | Financial Times] President Donald Trump’s plan to impose a new round of trade tariffs on Chinese imports is complicating…
Editors note: The tariffs are working. Now we need to get serious about exchange rate management. Falling producer prices add another complication to Beijing’s efforts to shore up its slowing economy [Grace Zhu | August 9, 2019 | WSJ] BEIJING—China’s producer prices fell into deflation for the first time in three years, as worries over…