The roughly 485 million packages that come into the U.S. duty free via the de minimis loophole is “overwhelming” and that volume “makes it harder for us to police products for consumer safety,” James Joholske, director of the office of import surveillance at the U.S. Consumer Product and Safety Commission (CPSC) told the U.S. China Economic and Security Review Commission on March 1
CPA Trade Counsel Charles Benoit and Chief Economist Jeff Ferry told Monday’s Prosperity Summit attendees that most economic models are worse at predicting trade outcomes than the local weatherman is at forecasting precipitation levels 10 days out.
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.
Coalition vice presidents explain the FDAs shortcomings and why U.S. medicines are often in short supply in a new American Affairs Journal article.
Last year, the U.S. imported more goods from Mexico than it did from China. It was a first. Although the trade deficit with China is still the biggest out of every country, and more than the trade deficit with Mexico and Canada combined, Mexican imports totaled $475.6 billion in 2023 versus China’s $427.2 billion.
Modern-day smugglers are using the de minimis loophole to bring in illicit imports of fentanyl, pill presses, and all manner of contraband.
The U.S. manufacturing boom, which started slowly since the implementation of tariffs on steel, aluminum, some China imports, and sped along by new laws favoring domestic supply chains, has had a positive impact on lower income counties nationwide.
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.
