Taking on China in this Cold War: An 11 Step Plan

Excerpt. “We must disentangle our supply chain today so that China cannot use economics to leverage better military or geopolitical outcomes.” With President Trump recognizing the 75th anniversary of D-Day in Europe this week, I found myself wondering how the historic giant of that era, Winston Churchill, would view the present day, particularly the West’s…

You Can’t Trust a Chinese Audit

Editor’s note: CPA has endorsed the EQUITABLE Act discussed by Senator Rubio in this op-ed. A new bill would ensure that U.S.-listed companies comply with American financial reporting rules. [Marco Rubio | June 4, 2019 | WSJ] Two decades after its accession to the World Trade Organization, China still uses its intertwined public and private…

US Trade Deficit with China Increases in April

By Steven L. Byers, PhD, CPA Senior Economist The US international trade deficit in goods and services for April 2019 declined slightly to $50.8 billion, down $1.1 billion from $51.9 billion (revised) in March. US goods exports fell $4.4 billion, and services declined by $185 million. US goods imports declined $5.4 billion, and services fell…

Tax Changes May be Afoot for Multinational Entities

By David Morse, Tax Policy Associate Director Law 360 reported this week that US Treasury officials believe multinational companies should anticipate new formulas as a part of future taxation. This is good news for companies producing in America who are tired of paying higher tax rates than many multinational enterprises (MNE). The Organization for Economic Cooperation…

Press Release: CPA Endorses Rubio’s EQUITABLE Act as Safeguard for US Investors

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…

Congress Must Strengthen Buy America Act

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…

CPA Op-ed: Treasury overlooks the true culprit behind US dollar strength

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…