USTR says the U.S. goods deficit with China fell 46 percent. But the goods didn’t stop coming — importers just declared them worth less. Treating customs “value” as an appraisal hides the undervaluation now driving the numbers.
Subsidies across 15 key industrial sectors have reached their highest levels relative to revenue since the 2008-2009 global financial crisis, according to an OECD study published June 1.
President Trump might be fine with upending the United States-Mexico-Canada Agreement (USMCA) ahead of the July 1 review deadline, but the House Agriculture Committee is not.
China is quietly making a move on one of America’s most critical industrial materials — copper. Texas is helping them do it.
This week, Scott Lincicome marked the 250th anniversary of The Wealth of Nations by recruiting Adam Smith into the free-trade lobby’s war on American tariffs. It’s a clever conscription, but it depends on erasing the most important fact about Smith’s world: when Smith attacked “mercantilism,” he was attacking a system America’s founders also rejected — and replaced with something Smith never imagined.
The ongoing conflict in the Persian Gulf likely led to a slight 1.2% decline in the overall goods and services deficit in April, coming in at $55.9 billion, based on Bureau of Economic Analysis (BEA) data released on Tuesday.
The government increasingly sees critical minerals, battery materials and components, and refining as strategic industrial assets rather than low value goods often burdened by environmental regulations.
While hosting Ambassador Greer, the former USTR manipulated pay data to claim that services jobs had overtaken manufacturing.
Lawmakers from member states of the European Union agreed to measures last week to stop drug shortages and fix chronic Asian dependencies for critical medicines, this time spurred by worries over the antibiotics supply chain.
A Senate Committee on Small Business and Entrepreneurship hearing held last week had only one manufacturer serving as a witness. He liked the tariffs because they stopped the bloodletting of cheaper imitations from China. However, he told the Senate that changes could be made to existing tariff policy to help lower costs as commodity and other input prices are rising fast.
