Wall Street will have to get used to a weaker dollar. If not, trillion-dollar trade deficits will be the norm. This comes at great expense to America’s industrial base, and the middle class.
August was another big month for imports, with consumer goods leading the way. At this rate, the U.S. will post over a $1 trillion deficit in 2021, a record-breaker.
Katherine Tai spoke to CSIS this week about China. Some takeaways were better than others.
US Trade Representative Katherine Tai says Trump-era tariffs are effective against China. We expect fervent corporate pushback in the months ahead as Phase One trade deal expires, as well as other tariffs next spring.
Whether China’s energy crunch is Beijing climate policy shooting some provinces in the foot or not, blackouts and factory closures will pressure U.S. supply chains that remain overly reliant on China. It’s time to move out of there.
A Deloitte survey of CFOs says that nearly half are facing serious supply chain disruptions. They all want to move away from a China-centric model. But will their new “supply chain resilience” push mean nothing for U.S. manufacturing, everything from Southeas Asia and Mexico?
Senators Marco Rubio, Rick Scott and Tom Cotton asked Treasury Secretary Janet Yellen this week to include Chinese software company, Tuya, as part of its capital markets sanctions list.
Two Democrats and Two Republicans will introduce legislation in September that would make it mandatory to label where beef sold in American grocery stores really comes from.
The U.S. China Economic and Security Commission held a three part hearing on U.S. China relations in 2021. In Part 1, treating Hong Kong like it is no different than Shanghai is now up for debate.
The July goods trade deficit shrunk somewhat but that is not going to stop a $1 trillion goods deficit in 2021. Plus, Vietnam surpasses Germany as major U.S.-bound exporter as China moves offshore to avoid tariffs.
