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.
The Wall Street Journal has started 2024 bemoaning tariffs. They are for losers, the WSJ Inside View columnist Andy Kessler wrote in December, ending 2023 with a taste of what is expected to come this year, an election year.
Washing machine tariffs were a success, as measured by over 2,000 new jobs, more competition, no sustained effect on washing machine prices and economic stimulus with the construction of new factories.
The world’s fourth largest steel producer – Nippon Steel of Japan – made an offer to buy the third largest steelmaker in the U.S., U.S. Steel Corporation, in an all cash purchase priced at $55 a share in December, nearly double the company’s share price from early August.
The U.S. trade deficit fell by 2% in November over the previous month, with both exports and imports relatively flat ahead of the holiday season.
Supply chains are still in the hands of Chinese companies but have been “rejiggered” to Vietnam and elsewhere.
A CPA rebuttal to a WSJ Editorial Team op-ed on Jan. 2 bemoaning China tariffs by both Biden and Trump.
Akin to granting PNTR to China in 2000 WASHINGTON — The Coalition for a Prosperous America (CPA) called on the Biden administration to reject misguided calls to revoke the non-market economy status of the Socialist Republic of Vietnam — a nation where the economy remains highly controlled by the government. According to a report by…
