The Tariff Trump Hasn’t Tried Yet: A Market Access Charge on Foreign Capital Could Tame the Dollar and Boost U.S. Manufacturing
A Market Access Charge (MAC) might be the perfect addition to the tariff agenda; a surgical tool to tax capital inflows.
Trade Deficit Rises 18.7% in May, Even with 145% Tariffs on China
Following April’s trade deficit data, which showed a complete freefall in trade during the “Liberation Day” tariff month, May’s trade deficit rose by 18.7% on a monthly basis to $71.5 billion, according to the Bureau of Economic Analysis (BEA).
A-List Economists Admit Tariffs Not Causing Inflation and Good for Revenue, But Where is the Reshoring?
Tariffs were supposed to be inflationary, but so far, they’ve been proven wrong. Inflation over the last several months was not caused by 10% tariffs on Southeast Asia, nor by the short-lived 145% tariffs on China.
GM Ranked as the Most China-Exposed American Corporation
Last year, it wasn’t even in the Top 10. This year, they’re number one. General Motors was ranked as the most China-exposed U.S. multinational by Strategy Risks, a political risk consultancy in New York.
Bessent Defends Tariffs in Senate Hearing, Calls Critics Sufferers of “Tariff Derangement Syndrome”
Treasury Secretary Scott Bessent stepped into somewhat hostile territory in the Senate Finance Committee hearing on Thursday. But despite dramatic criticism from Ranking Member Ron Wyden (D-OR) and other top Democrats on the Committee, Bessent took an early victory lap on tariffs.
Generic Drugs Need Government Support, House Health Subcommittee Admits
U.S. based generic drug makers need government support to expand – and maybe even to survive – the onslaught of imports nearly every member of the House Energy and Commerce Committee Subcommittee on Health said in a hearing on Wednesday.
Tariffs, Industrial Policies Like the CHIPS Act, Help Protect U.S. From ‘China Shock 2.0’
The second round of the early 2000s ‘China Shock’ will impact the rest of the world more than it will the United States. Tariffs and industrial policies – like the CHIPS Act and the Inflation Reduction Act – have somewhat protected the U.S. from China’s relentless exports.
Overregulation and Foreign Competition Dominate House Hearing on U.S. Seafood; Tariffs Mentioned But Not Embraced as Solution
At a June 4 hearing before the House Natural Resources Committee’s Water, Wildlife and Fisheries Subcommittee, lawmakers and industry representatives expressed growing frustration with what they described as an overregulated domestic seafood industry that is steadily losing ground to foreign competition.
Importers No Longer Loading Up on Goods as Tariff Reality Sinks In; April Imports Fall 16.3%
Importers slowed their buying frenzy that occurred prior to the ‘Liberation Day’ tariffs and now April’s trade figures show a not-surprising 16.3% drop for the month to $351 billion.
Sen. Kennedy Just Gave Howard Lutnick Best Example Why Reciprocal Tariffs Don’t Work
By the time the Committee hearing with Lutnick was over, it seemed pretty clear that the Trump administration has shifting ideas about reciprocity today, and are less sure about the nature of them than they were before “Liberation Day” on April 2.
