We need to protect our industrial base, invest in infrastructure, and sell more in our wealthy home market. A twenty-first-century version of the American System isn’t just desirable—it’s essential.
USD Overvaluation affecting U.S. trade with the world by $364 billion, compared to only a $30 billion effect from current tariffs. Currency misalignment also has a larger effect in more heavily tariffed countries, such as China.
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.
The goods and services deficit for May rose a tad to $75 billion, up 0.8% from the previous month.
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.
