Key Points The U.S. goods trade deficit ballooned to $1.19 trillion in 2022, an increase of 9% from the previous year. This is a U.S. and world record. Imports of electronic goods, machinery & appliances, and vehicles account for more than half of the trade deficit. While China continues to be the leading source of…
China ran a record-high trade surplus in 2022 of $878 billion, equivalent to about 4.8% of its GDP.
The Senate Committee on Finance discusses trade, as witnesses led by FedEx throw support behind the de minimis duty-free imports rule.
Dramatic Increase Violates 2019 U.S.-Mexico Agreement WASHINGTON — The Coalition for a Prosperous America (CPA) today applauded Senator Tom Cotton (R-AR) for leading a bipartisan letter to Secretary of Commerce Gina Raimondo and U.S. Trade Representative Katherine Tai urging them to take action against Mexico’s blatant and continuing breach of a 2019 agreement to lift…
Shein’s Fast Fashion business reminds me of the barker in Pinocchio, (to paraphrase) “Get your tank tops, dress, sweaters, and t-shirts! Buy all you can! Be a glutton! Stuff your bags! Hurry, hurry, hurry, hurry!” Who could imagine that a small order-fulfillment Chinese company with almost no garment manufacturing experience would become the world’s largest…
On January 31, CPA trade counsel Charles Benoit gives a masters class on the history of trade tariffs, and how they were used to build the U.S. economy.
U.S. Senator Bill Cassidy (R-LA) has released a discussion draft of a sweeping, ambitious bill titled the “Americas Act”. The bill states its aim to “establish a regional trade, investment, and people-to-people partnership of countries in the Western Hemisphere”. But unlike every other U.S. trade agreement in the last century, the Americas Act actually undertakes…
WASHINGTON — The Coalition for a Prosperous America (CPA) submitted comments to Ambassador Katherine Tai in support of continuing the Section 301 China Tariffs. The Office of the U.S. Trade Representative (USTR) requested comments for its four-year review of its actions regarding its Section 301 Investigation of China. CPA’s submission to USTR documents the benefits…
U.S. steel imports from Mexico have surged despite a 2019 U.S.-Mexico agreement to maintain steel imports at past levels.
USMCA Tribunal’s Final Ruling Will Benefit China Manufacturing WASHINGTON — The Coalition for a Prosperous America (CPA) today urged the Biden administration to reject, and refuse to honor, the final decision from the U.S.-Mexico-Canada Agreement (USMCA) Panel that weakens USMCA’s automotive rules of origin. The regional content rules were a major change from NAFTA intended…
