Health, Security, Economic Benefits from Reshoring By Steven L. Byers, PhD and Jeff Ferry With the spreading coronavirus pandemic, Americans are becoming increasingly aware of our dependence on foreign sources for important pharmaceuticals and other health care products. The US is dependent on China for over one third of all the antibiotics we import, and…
How safe are the items you are purchasing online? By Greg Owens On January 24, 2020 there was a press conference in Washington given by the Department of Homeland Security, which is responsible for US Customs, and Dr. Peter Navarro, Assistant to the President for Trade and Manufacturing Policy. Think about the last time you…
By Steven L. Byers, PhD and Jeff Ferry With the introduction of the Baldwin-Hawley bill (S 2359) into the US Senate, capital flow management tools are once again an important issue. The bill, entitled the Competitive Dollar for Jobs and Prosperity Act, envisages using a Market Access Charge on foreign purchases of US financial assets…
Editors note: Chinese and multinational companies continue cheating. Customs enforcement and tighter laws are needed Many save by tweaking assembly and shipping processes rather than by moving operations to U.S. [Katy Stech Ferek | February 6, 2020 | WSJ] WASHINGTON—Many U.S. companies are maneuvering to sidestep tariffs on Chinese imports, trade lawyers and logistics consultants…
Editor’s Note: Adopt Sales Factor Apportionment taxation and this tax litigation becomes irrelevant. Because internal profit shifting becomes irrelevant. Simply tax MNC global profit in proportion to sales occurring in US. Ignore subsidiaries. Government challenges social-media giant’s transactions with its Irish subsidiary [Richard Rubin | February 8, 2020 | WSJ] Facebook Inc. FB 0.03% and the…
Excerpt: Digital companies aren’t the only ones avoiding corporate taxes. Plenty of foreign multinationals that sell in the U.S. are also shifting profits through tax havens… Over the past few months, a number of countries have been planning to impose new taxes on U.S. tech companies like Google, Facebook and Amazon. France in particular has aimed…
Excerpt: How did the pharmaceutical industry start sourcing pharmaceuticals in China? After her presentation at the Made in America trade show last month, I met Rosemary Gibson, co-author with Janardan Prasad Singh of China RX, published in 2018. China RX is an expose of the pharmaceutical industry just as Death by China by Greg Autry and…
By Jeff Ferry, CPA Chief Economist On October 25th, America’s largest steelmaker Nucor opened a new steel mill in Hickman, Arkansas. The mill will employ about 100 workers at an average salary of $80,000 a year. A jubilant Arkansas Governor Asa Hutchinson attended the opening and told the crowd: “I am thrilled that Nucor chose…
By John R. Hansen, CPA Advisory Board Executive Summary America’s trade deficits, which are caused primarily by America’s overvalued dollar, are eroding the American Dream of sustainably growing and equitably shared prosperity for all. By making American goods too expensive to compete with foreign goods in domestic and export markets, the overvalued dollar kills jobs,…
Editors note: Chinese owned Smithfield Foods shipping pork to China amidst Asian swine flu problems. SMITHFIELD, Virginia (Reuters) – Smithfield Foods’ slaughterhouse in Virginia used to carve up pork for American sandwiches and holiday dinners. But workers now box up pig carcasses to ship to China, according to employees, local officials and industry sources. [Tom…