The U.S. manufacturing boom, which started slowly since the implementation of tariffs on steel, aluminum, some China imports, and sped along by new laws favoring domestic supply chains, has had a positive impact on lower income counties nationwide.
The expert witness testimony made it clear that U.S. labs were treated differently than foreign ones, and despite increases in hiring at the FDA over the years, lawmakers have a lot to be concerned about when it comes to the FDA conducting proper oversight of foreign manufacturing facilities.
Section 201 solar safeguard tariffs were supposed to ruin the solar business and completely stall deployment of solar on rooftops and vacant fields controlled by electric utility companies. But according to a U.S. government report, they did nothing of the sort.
Rep. Frank Lucas (R-OK-3) sat down with the Hudson Institute on Monday for a one hour event on how to counter China economically and the biggest takeaway was the obvious: it won’t be easy, and everyone has a different opinion on it.
According to expert testimony given by the witnesses, the crisis is being fueled by poor manufacturing practices that have led to recalls by foreign drug manufacturers, and the race to the bottom on generic drug prices that make it impossible for American generic drug makers to compete with subsidized competitors in India and China.
The annual trade deficit has fallen. Yet for 2023, our trade deficit of $773 billion was once again the world’s largest. Our goods deficit, at $1.06 trillion, exceeded a trillion dollars for the third year in a row.