China makes too many things. It would be great if they made it for their home market, but they do not. Instead, they massively subsidize their manufacturing companies and overproduce for the world – their main market being the United States.
The United States-Mexico-Canada (USMCA) Free Trade Agreement is fast becoming a free trade agreement for the world, whereas any multinational with a presence in Mexico can set up shop and make the U.S. its number one target. China is doing that now.
The goods and services deficit for May rose a tad to $75 billion, up 0.8% from the previous month.
Domestic content rules and mandates have worked for China. Should the U.S. try to copy it, in spots, along key supply chains like new energy and semiconductors?
Trump has a new idea about the economy. The usual suspects hate it. On June 13, Trump said he’d consider a 10 percent tariff on imports and use the revenue to reduce some income taxes.
The CEO of American drone maker Skydio told the House Select Committee on the Chinese Communist Party in a hearing last week (June 26) that tariffs were a much-needed tool if the U.S. wants any semblance of a domestic drone industry.
When asked about China, both Trump and Biden should say that China’s trade surplus is an insult to the world and a huge disruptor to our economy.
CPA’s chief economist Jeff Ferry joined two other panelists Wednesday to talk trade in an hour-long webinar by Industry Week magazine titled the “2024 Manufacturing Economy First Half Checkup.”
John Deere will lay off or offer early retirement to over 200 workers in Iowa, while at the same time the tractor producer is gearing up to move production of mid-frame skid steer loaders and compact loaders from its plant in Dubuque, Iowa to a proposed new facility in Mexico.
The steaks and hamburgers you put onto your grill this summer are less American than one might think. In fact, the U.S. imports almost as much beef as it exports as global meatpackers continue to turn to imported beef, based on USDA data year-to-date.
