Year Begins With 5.4% Rise In Trade Deficit to $67 Billion
January 2024 posted a 5.4% gain in the monthly goods and services deficit, rising to $67.4 billion, the Bureau of Economic Analysis reported today.
Prosperity Summit Wrap: Industry Leaders Share Concerns With Congressional Staffers
Roughly 40 congressional staff members had a chance to meet with and hear from industry leaders as diverse as Florida farmers to multinational corporations in the renewable energy space about the trials and tribulations of competing with emerging markets that play by different rules. And often break existing ones.
Lighthizer: “A New Consensus on Trade is Emerging”
“We are seeing a new consensus on trade. A lot of credit goes to President Trump and a lot of it goes to a bunch of working class Democrats,” Robert Lighthizer said at the first-ever Prosperity Summit.
House GOP Trade Chair Expects To Legislate Billions in Tariff Refunds For Importers In Coming Weeks
Rep. Adrian Smith of the House Ways and Means trade subcommittee says the Generalized System of Preferences will be renewed, with retroactive tariff refunds worth billions.
The De Minimis Loophole Provides High Volume Immunity to Overseas Smugglers
Modern-day smugglers are using the de minimis loophole to bring in illicit imports of fentanyl, pill presses, and all manner of contraband.
New Horizon Advisory Report Details Alarming Threat of China’s Stranglehold on Global Solar Market
An alarming new report from Horizon Advisory details China’s distortion of the global solar industry and how that threatens the national and economic security of the United States as it “risks making the United States dependent, and dependent on an adversary, for a strategic, future energy source.”
How China Beat the U.S. at Its Own EV Game
As imports from China rise, the native auto industry will whither at a time when a new auto industry is being born. Call it an opportunity lost.
World Trade Organization In “Serious Trouble” Ahead of UAE Meeting; Might Not Be Salvageable
The World Trade Organization (WTO) may be on its last legs heading into its 13th Ministerial meeting in Abu Dhabi later this month.
Annual Goods Trade Deficit Has Fallen, But Still Beats $1 Trillion. China Deficit Shrinks By Billions.
The annual trade deficit has fallen. Yet for 2023, our trade deficit of $773 billion was once again the world’s largest. Our goods deficit, at $1.06 trillion, exceeded a trillion dollars for the third year in a row.
Elon Musk, United Auto Workers Agree: Tariffs Needed to Save American Car Industry
China recently became the world’s largest car exporter, and by all accounts their global market share will keep expanding. One silver lining, at least, is that more and more leaders are figuring out that absent tariff increases, our nation will become a slave to foreign nations that do prioritize production.
