President Trump’s decisive actions on trade with China are a long time in coming because U.S. manufacturers have struggled for years against heavily subsidized competition from China. Op-ed by Michael Stumo originally appeared in LifeZette on October 27, 2018 And whether it’s hefty industrial subsidies, currency undervaluation, intellectual property theft, or the dumping of steel…
Excerpt: Backers of the administration’s trade policies say the turnabout is good news. “The U.S. had the job of eating global steel overcapacity for many years. [Trump’s] tariffs meant we quit that job. EU, Canada, and India now are candidates for that job. They don’t want that job. EU and Canada are now using measures to keep out…
Editor’s note. America is far from the only country distrustful of China. Excerpt. “The Chinese are not buying in Brazil. They are buying Brazil,” [presidential candidate] Bolsonaro has warned repeatedly. BRASILIA (Reuters) – The Chinese government is trying to make peace with Brazil’s leading presidential candidate, Jair Bolsonaro, whose China-bashing threatens to chill a profitable…
Editor’s note: Letting China into the World Trade Organization was a mistake. The explosive growth in the U.S. trade deficit that came from China joining the World Trade Organization cost an estimated 3.4 million jobs, according to a new report released Tuesday. The study of the impact in the growth in the trade deficit between…
President Trump’s decision to impose tariffs on subsidized imports from China has generated plenty of criticism from pundits and academics, alike. But the tariffs, which are intended to boost U.S. manufacturing competitiveness, are already leading to increased production and job growth in the heartland. Op-ed by Michael Stumo, CEO of CPA, originally appeared in The Hill on October 22,…
Editors note: CPA fully agrees that we must fix dollar overvaluation to fix the trade deficit. We disagree with our good friend Rob Scott on his assessment of tariffs, which are important for national security, to optimize the composition of trade and jobs and to fix foreign trade cheating. During the 2016 presidential campaign, Donald Trump cited my…
Editors note: WTO Is in trouble and there is no obvious way out. It may be worth thinking about what the world looks like without the world trade organization. The U.S. ambassador to the World Trade Organization on Tuesday warned WTO members against letting discussions about reforming the multilateral trading system get in the way of…
Editors note: The report below notes that China exports advance manufactured goods to Latin America and imports low value, cyclical products which are an economic problem for that region. The same is true with regard to the US-China trading relationship. We export commodities and import value added products, like banana republic The U.S.-China Economic and…
Editor’s note: This factory is not going to China. Congratulations to Dutchland Plastics and Canastota NY. Canastota, N.Y. — Dutchland Plastics has opened a factory in Canastota that the company says will create 42 new jobs. Dutchland CEO Randy Herman, Canastota Mayor Carla DeShaw, state Sen. David Valesky, Assemblyman Bill Magee and other state and…
Editor’s note: The US should not accept just any deal. The EU trade surplus with $442B last year, the biggest surplus of any economic region on the globe. If we don’t impact the trade imbalance, tweaking certain rules will not be worth the time to negotiate. BRUSSELS — Commerce Secretary Wilbur Ross said Wednesday that…
