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.
“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.
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.
Modern-day smugglers are using the de minimis loophole to bring in illicit imports of fentanyl, pill presses, and all manner of contraband.
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.”
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.
The World Trade Organization (WTO) may be on its last legs heading into its 13th Ministerial meeting in Abu Dhabi later this month.
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.
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.
Nelson Cunningham would be the second in command at the USTR after Katherine Tai in his role as Deputy United States Trade Representative.
