Few economic policies generate as much conversation as tariffs. Supporters see them as a way to rebuild domestic industry and rebalance supply chains. Critics argue they are little more than a tax on American consumers. For years, economists have tried to settle the question of who actually pays – and they have not all come to the same conclusion.
Once year-ending 2025 trade data is released in February, we will be looking at another $1 trillion deficit. Assuming the monthly goods deficit for November and December looks like the low October goods deficit of $58.5 billion, the U.S. will record a minimum $1.17 trillion goods gap for 2025, the second largest trade deficit since 2024’s $1.2 trillion barnstormer.
U.S. drugmakers are rapidly shifting the front end of America’s pharmaceutical ecosystem (e.g. discovery, early-stage-development, and the IP engine) to China through a surge of licensing deals and cross-border partnerships.
We must stop importing more goods than we export, leaving us deeply indebted to our trading partners. I urge Congress to urgently pass a bill that would implement the Market Access Charge. Call your Congressman and Senator today to urge them to support the introduction of such a bill.
CPA welcomed final passage this week of the ‘National Defense Authorization Act (NDAA) for FY2026,’ (S.1071), which has been sent to President Trump’s desk for signature. The legislation advances critical national security priorities, strengthens U.S. defense readiness, raises troop pay by 3.8%, and reinforces the importance of resilient domestic supply chains and robust U.S. manufacturing capacity.
China’s foray into the automotive industry makes perfect sense for any serious, powerful economy. Every major economic power has its own car brands. China has them now, in droves.
The U.S. goods deficit with China fell by roughly $2 billion in September, coming in at $15.03 billion. China has dropped to fourth place in terms of the countries in which the U.S. has its biggest goods gap.
A proposed 807-mile natural gas pipeline intended to bring gas from Alaska’s North Slope to a new export terminal in the Kenai Peninsula in Southcentral Alaska will be fabricated in Korea despite the Administration’s headline “fifty percent” steel tariff.
Democrats on the House Committee on Small Business kept to their year-long messaging that tariffs are raising costs and hurting companies. There were many interesting themes from the Nov. 20 hearing titled How Main Street is Revitalizing Domestic Manufacturing.
To trade away aluminum and steel workers’ home market in exchange for padding Big Tech’s bottom line overseas is immoral and wrong. The Section 232 actions on aluminum and steel should be singularly focused on rebuilding domestic output across the supply chains, not used as leverage to help Google and Meta become even more profitable.
