When President Biden laid out his vision for the U.S. economy before Congress on April 28th, he emphasized that rebuilding the U.S. economy should focus on “jobs, jobs, jobs.” The federal government should give preference to U.S.-made products as much as possible. To hammer home the point, Biden added: “there is simply no reason why…
Secretary of the Treasury Janet Yellen has provided an early signal of the Biden administration’s approach on currencies and currency manipulation. The US apparently has little intention of using currencies to address US economic problems, including slow growth, huge trade deficits, pervasive inequality, and a lack of good jobs. The economic analysis in the new…
Intel announced last week it will spend $20 billion building two new fabs in Arizona to take it into the foundry business, aiming to make chips for large, important customers like Apple, Microsoft or Qualcomm. That’s good news, but it doesn’t solve the fundamental problem of US dependency on Asia for the manufacture of chips.…
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WASHINGTON — The Coalition for a Prosperous America (CPA) and China Tech Threat today jointly released a white paper titled “Maintaining U.S. Leadership in Semiconductors and Countering China’s Threats.” The paper examines the decline in U.S. market share in global semiconductor manufacturing, the attendant risks to U.S economic and national security, and why maintaining U.S.…
Solar power is a vital source of renewable energy and an essential industry for the US today and in the future. This White Paper looks at the success of the US solar module industry in investment, production growth, and record market share. Nevertheless, China still retains a chokehold on the industry through its dominance in…
By Steven L. Byers, PhD, and Jeff Ferry Key Points The CPA Reshoring Index (CRI) came in at 69.0 in Q3 2020, a decline of 165 basis points (1.6 percentage points) as compared to the Q2 level of 70.6, indicating that US manufacturers lost share to imports in Q3. US manufacturing production rose sharply in…
By Steven L. Byers, PhD, and Jeff Ferry Last year the US registered its largest trade deficit in 12 years and its largest-ever deficit in goods trade. In this article, we review the main trends in US international trade in 2020. The US trade deficit continued to deteriorate in 2020 as it rose to a 12-year…
By Steven L. Byers, PhD, and Jeff Ferry The CPA Reshoring Index (CRI) rose to +173 in the first quarter of 2020, indicating that US manufacturers gained 1.73 percentage points of market share in the US market for manufactured goods. Import penetration in US manufacturing in the first quarter fell to 28.9%, its lowest level…
According to a new CPA analysis, a Congressional five-year $1.5 trillion infrastructure investment plan could create 2.5 million jobs by 2025 while bringing sorely needed improvement to the nation’s deteriorating infrastructure. However, the analysis finds that a quarter of the spending would go on imported materials and supplies. The same infrastructure plan implemented under a…