Trump Tells Davos: Prepare for Tariffs, “Golden Age”
President Donald Trump did a roughly one-hour video call with the World Economic Forum in Davos on Thursday, reminding those in attendance that he is serious about correcting trade imbalances.
China-based Trina Solar’s Market Access to U.S. Faces Increasing Hurdles
The geopolitics of solar are impacting a number of top China solar companies. Trina Solar is the latest. Tariffs on solar made in their southeast Asian factories were increased this month for circumventing duties, and a $235 million investment into Texas was sold in late 2024.
As Food Imports Rise, FDA Drops Ball on Food Inspections Worldwide
Food imports into the U.S. are on the rise. The trend now is for agricultural commodity trade deficits, rather than surpluses, with key commodities like beef usually in a deficit. Despite the increase in food imports, the Food and Drug Administration conducted far fewer than the annual goal of 19,200 inspections, according to FDA data.
At Scott Bessent Treasury Hearing: A Battle over Tax Cut Extensions and Questions About Tariffs
Treasury Secretary nominee Scott Bessent faced a divided Senate Finance Committee on Thursday for another Trump nomination hearing this week. To his credit, Bessent demonstrated a masterful view of the macroeconomics around tariffs, trade, and currency.
Marco Rubio a Shoo-in for Secretary of State; Talks Trade as Key Component of China Strategy
Sen. Marco Rubio (R-FL) will be confirmed as Secretary of State. He had very little pushback in his confirmation hearing among his colleagues on the Senate Foreign Relations Committee.
Senate Finance Committee Priorities: Renew Tax Cuts Expiring This Year, Open Markets for Agriculture Exports
Senator Michael Crapo (R-ID) is already setting his agenda: renewing the Tax Cuts and Jobs Act (TCJA), expiring this year, and new trade deals that open agriculture markets to U.S. exports.
Trade Deficit Jumps 7.6% in November. Goods Trade Gap Now $1.08 Trillion, Beating 2023 Levels
The goods and services trade deficit rose 7.6% in November to $78.2 billion, a big leap from previous months when the deficit was trailing under the three month moving average, based on Bureau of Economic Analysis data released this week.
CBO Report Confirms CPA View that Tariffs Raise Trillions in Government Revenue and Benefit US Industries
The Congressional Budget Office’s (CBO) preliminary report on the impact of tariffs on the U.S. economy forecasts large benefits to the federal budget from tariffs and a tiny consumer price increase, confirming recent forecasts published by the Coalition for a Prosperous America.
CPA Economist Jeff Ferry Testifies on Tariffs to Joint Economic Committee
A mostly Democratic Party panel of members of the Joint Economic Committee (JEC) held a hearing on tariffs on Wednesday, where the room was heavily weighted against incoming president Trump’s 10% (or 20%) universal tariff proposal.
CPA Chairman: Trump Must Tackle Mexico’s Steel Surge
Mexico has been flooding the United States with underpriced steel — in clear violation of a 2019 agreement with Washington. The Biden administration did not address the problem; now, the coming Trump administration must act.
