Editor’s note. This is a nice synopsis alluding to the American System of Economics which the administration’s trade team seems to be returning to. Hamilton and Frederich List (German) dismissed Adam Smith as a cosmopolitan economist. See Michael Stumo’s speech to the Jessie Helms Center annual conference on the same topic here. President Trump defended his…
Editor’s note: Boeing is helping Beijing’s bid to dominate airplane production and airline services as they joint ventures with government owned companies. Boeing will sell a few planes for 3-5 years, then will get squeezed out like Apple. It is the same if you are looking to fly from Bangkok to Los Angeles. Or from Singapore…
Extended editor’s commentary: Here is some detailed context regarding article below reporting on China likely resuming purchases of US soybeans. Soybeans prices should not have tanked because soybeans are a fungible global commodity that does not care whether it goes to China or Argentina or EU. There is drought in EU and Argentina and they…
Currency has fallen more than 8.6% this year, making it one of Asia’s worst performers Editors note. As other countries’ currencies fall, capital flees to the US, pushing the dollar up, and making our goods non-competitive. We need the competitive dollar for jobs and prosperity act to charge foreign investors for the service. Meanwhile, interesting…
Editor’s note: The new move to base the award of defense contracts on, in part, security assessments will make it harder for companies in other countries to participate in the US defense supply chain. A rebuttal to those who don’t care where products are made so long as they are cheap. The Pentagon has a…
More than 11,100 Good Jobs Created Since February Washington. The Coalition for a Prosperous America (CPA), has determined that at least 11,100 new jobs have been created since February 1 as a result of the protective tariffs imposed on imported solar panels, washing machines, steel, and aluminum. The finding arises from the initial results of CPA’s “Tariff…
By Jeff Ferry, CPA Research Director It’s just six months since the first of the Trump administration’s tariffs went into effect and the job gains are already visible. Our CPA Tariff Job Creation Tracker (TJCT) shows over 11,000 jobs have been created or announced since February 1st and that includes only cases where companies announced specific…
In response to years of China’s predatory economic behavior, President Donald Trump’s administration recently imposed tariffs on $50 billion worth of high-tech Chinese goods. Beijing has now retaliated against America’s agricultural sector, prompting a $12 billion program from the U.S. Department of Agriculture for affected farmers and ranchers. Some in Washington are criticizing the USDA…
Editor’s note: Interesting article by President of MIT. His strategy of more university R&D, however, is silent on location of production. Otherwise its “invent it here, make it there”. Which later becomes “invent it there, too”. American tensions with China over international trade spring partly from concerns that China gives tax breaks to its companies…
Editor’s note: Professor Pettis rebuts the recent, disappointingly bad, article by Joe Stiglitz. Also, on the core of trade deficit causation, Pettis again clarifies how our deficits originate in trade surplus countries – through their practices – and are transmitted here.Economist Joseph Stiglitz recently published an interesting piece in Project Syndicate called “The US is at Risk of Losing…
