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.
Today’s announcement on actions to address Mexico steel surge shows that White House foreign policy bureaucrats that negotiated this deal care more about Mexico than about American workers.
CPA today announced that the U.S. Private Sector Job Quality Index (JQI) was 82.45, essentially flat with only a change of -0.03% from the preceding month.
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.
CPA sent a letter to the Treasury Department on Thursday asking Secretary Janet Yellen to take immediate action to prevent Russian and Iranian steel products from entering the U.S.
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.
