It’s been three full months of record-high tariffs, and yet rolling 12-month overall inflation came in at 2.7% in July, the same percentage rate as June, according to last week’s Bureau of Labor Statistics (BLS) inflation report. Core inflation (CPI), which excludes food and oil, rose 3.1% in July, up from 2.9% in June.
The inclusion of these steel products in the Section 232 tariff program will mean more jobs, more Made-in-the-USA, and help provide steady-order volume to our primary steel producers.
The Secure Trade Act codifies the President’s ten-percent universal tariff, and also repeals China’s “Most Favored Nation” (MFN) status.
Florida Congressman Daniel Webster’s ‘USA Act’, introduced in August, amends the Science portion of the ‘CHIPS & Sciences Act’ to improve U.S. role in standards setting.
The initial report of the CPA/PSSI China Space Security Initiative (CSSI) details how Beijing is working to penetrate and control the space sectors of more than 120 countries through hundreds of ostensibly commercial agreements, via state-controlled Chinese companies that, in effect, act as fronts for the People’s Liberation Army (PLA).
The trade deficit fell 16% in June to a low $60.2 billion, the Bureau of Economic Analysis said on Tuesday, but despite a 3.7% reduction in imports, the goods deficit for the month was surprisingly resilient compared to recent years without tariffs.
Closing de minimis means that commercial shipments from overseas vendors must enter the United States through standard customs procedures, submit full import documentation, and pay applicable duties and taxes—a long-overdue reform to restore order and accountability to America’s trade system.
Today’s action to directly target the midstream layer—rods, pipes, wires, connectors, and other semi-finished copper products that are essential to our economy and national security is extremely welcome. Combining the Section 232 action with the use of the Defense Production Act to ensure a robust supply of copper scrap for recycling is extraordinary.
The African Growth and Opportunity Act (AGOA), enacted in 2000, was designed to promote economic development and democratic reform in Sub-Saharan Africa by granting duty-free access to the U.S. market for thousands of products.
Realigning the dollar would be the most comprehensive and effective move to address the U.S. competitive disadvantage. It can be done either by a multilateral intervention agreement, or a MAC, which would be a federal tool to moderate foreign investment in dollar financial assets.
