Jeff Ferry, Chief Economist Steven Byers Ph.D., Senior Economist June 2019 This Briefing Paper looks at the shortcomings of economic models of trade action, their causes, and modifications to improve the accuracy of these forecasting models. Executive Summary From the adoption of NAFTA in 1994, through the Trump administration’s 2018 tariffs, economic forecasts have…
Legislation would block unaudited and state-influenced foreign companies from US capital markets Washington. The Coalition for a Prosperous America (CPA) today endorsed the introduction of the EQUITABLE Act (“Ensuring Quality Information and Transparency for Abroad-Based Listings on our Exchanges”). The bill, co-sponsored by Sens. Marco Rubio (R-FL), Bob Menendez (D-NJ), Tom Cotton (R-AR) and Kirsten Gillibrand…
Excerpt: “Congress must act to strengthen the Buy American Act, not weaken it, eliminate the incentives for offshoring, and provide incentives for bringing manufacturing back to America.” The Buy American Act was passed by Congress in 1933. It required the U.S. government to give preferential treatment to American producers in awarding of federal contracts. The Act…
Editors note: Senator Elizabeth Warren’s economic patriotism plan creates a split with Democrats still dedicated to cosmopolitan globalism. In some ways it is closer to President Trump’s economic nationalism. The plan is to marry industrial policy to environmentalism and transform the economy. [Matthew Yglesias | June 4, 2019 | Vox] Sen. Elizabeth Warren is out…
Excerpt: U.S. products became globally competitive, and the U.S. trade deficit shrank. In 1988, Congress passed a law requiring the Treasury Department to issue twice-yearly reports identifying countries that manipulate their currencies After a long delay, the Treasury Department just released its latest semi-annual report on global currency exchange policies. The congressionally mandated report provides an assessment of…
Excerpt: “In President Xi’s mind, China is riding the great arch of history to a place where it makes the rules, and supplicants like the Europeans, Americans and Asian neighbors adhere to its vision.” President Trump enjoys bipartisan support for his tough stand on China but Democrats and farm state Republicans indicate they could desert…
Editors note: This is Senator Elizabeth Warren‘s “economic patriotism” platform in her own words. It shows that many of the ideas on exchange rates, globalization and jobs are bipartisan. I come from a patriotic family. All three of my brothers joined the military. And I’m deeply grateful for the opportunities America has given me. But…
Editors note: Elizabeth Warren proposes a Democratic response to the Trump MAGA agenda, incorporating some of it. Economic patriotism in trade and industrial policy are key messaging components. Remember when she created a new agency? As president, she wants to do it again. [Hannah Levintova and Kara Voght | June 4, 2019 | Mother Jones] In the…
Editors note: Twitter is helping the Chinese government with repression. Twitter has suspended a large number of Chinese-language user accounts, including those belonging to critics of China’s government. It seems like a particularly ill-timed move, occurring just days before thirtieth anniversary of the Tiananmen Square massacre on June 4. [Anthony Ha | June 1, 2019…
Editors note: Curtis Ellis describes how Chinese companies use our equities markets against us, and make their plutocrats rich. Exclusive: Curtis Ellis describes vast array of Beijing’s nefarious shell companies [Curtis Ellis | May 31, 2019 | WND] THE RED GIANT China has targeted American manufacturing for extinction. Beijing’s subsidies, intellectual property theft, product dumping…
