Senator J.D. Vance for Senate Finance Committee

Senator J.D. Vance of Ohio needs to be on the Senate Finance Committee for the good of the country. Even if Senator McConnell, the top Republican in the Senate, isn’t convinced about the good of the country part, he should see that not assigning Vance to Finance will surely doom Republicans to minority status in…

CPA Applauds Major Domestic Solar Manufacturing Expansion Announcements

Urges Biden Administration to Robustly Enforce U.S. Trade Policy WASHINGTON — The Coalition for a Prosperous America (CPA) today applauded an announcement by First Solar, the largest American solar manufacturer, that it plans to invest up to $1.2 billion in scaling production of American-made, responsibly-produced photovoltaic (PV) solar modules. As first reported by The Wall…

Import Dependence and Inflation – A Global Comparison

  By Amanda Mayoral   Summary Points Higher import dependence makes countries more vulnerable to price shocks Countries that are more import dependent often experienced higher inflation during recent supply chain shocks than less import dependent countries. Comparing countries globally, every four percentage point increase in import dependence is associated with a one percentage point increase…

Inflation Reduction Act Knifes The Multilateral Trading System. Here’s what USTR Needs To Do.

The multilateral trading system, birthed on October 30, 1947, was unceremoniously knifed and left for dead by President Biden’s signing of the Inflation Reduction Act. This is an unprecedented move by the United States in our seventy-five year history as part of that system. Retaliation will come from much of the world. Here is what…

New CPA Trade Model Shows Broad Tariffs Would Create 7.5M Jobs

  By Jeff Ferry and Amanda Mayoral Broad-based tariffs including tariffs on manufactured imports would boost U.S. economy by 6% and create 7.5 million jobs. Real household incomes rise by 8%. Tariffs reduce imports and stimulate domestic manufacturing output by 18%. Tariffs would generate $556 billion in new revenue, enabling cuts in income tax or…

Pro-Growth Tariffs: Estimates from CPA’s New Trade Model

  By Jeff Ferry and Amanda Mayoral   Can tariffs can be effective at raising domestic output and income? We introduce real-world factor supply elasticities to the standard Global Trade and Analysis Project (GTAP) and find that real GDP can grow by nearly 6% and domestic manufacturing by 18%. The increase in GDP leads to…

Canada Supports Democrats’ Call for Effective Tariff Protection of North American Automobile Industry

In a surprise development last night, Senate Majority Leader Chuck Schumer (D, N.Y.) and Senator Joe Manchin (D, W.Va.), with support from President Biden, announced a deal on a massive tax, energy and healthcare legislative package. Sen. Kyrsten Sinema (D-Ariz.), as of the time of this writing, has not indicated her support, and she’s a…

The Importance of Tariffs on the U.S. Solar Market

  By Amanda Mayoral   This article is an expanded version of testimony delivered by Ms. Mayoral to the U.S. International Trade Commission on July 22, 2022.   In his first State of the Union address, President Biden said “When I think about climate change, I think jobs”. I believe the president is correct about…

How Steel Tariffs Are Helping US Workers

This article is an expanded version of testimony delivered by Mr. Ferry to the U.S. International Trade Commission on July 22, 2022.   The Section 232 steel tariffs have benefited the U.S. steel industry and its workforce American steelworkers earned an average of $117,200 last year, making steel one of the best-paying industrial sectors in…

New CPA Index Shows U.S. Manufacturers Lost 10% of Domestic Market Share

WASHINGTON — The Coalition for a Prosperous America (CPA) today released its Domestic Market Share Index (DMSI), a new indicator that measures the success of U.S. manufacturing producers in the U.S. home market. The U.S. market for manufactured goods, worth over $7 trillion last year, is the world’s largest. Since 2002, when current government data…