USD Overvaluation affecting U.S. trade with the world by $364 billion, compared to only a $30 billion effect from current tariffs. Currency misalignment also has a larger effect in more heavily tariffed countries, such as China.
The de minimis customs provision that allows for goods priced under $800 to come into the U.S. duty free is full of risks, and an open door for “controlled substances and all sorts of contraband,” Homeland Security secretary Alejandro Mayorkas said on Tuesday.
While we appreciate Secretary Mayorkas’s acknowledgement that the de minimis loophole is a serious risk and undermines the U.S. government’s efforts to enforce the UFLPA, we have yet to see substantive action from the Biden administration to close this dangerous loophole.
New Biden-Mexico Steel Agreement will only affect about 16% of imports from Mexico, based on CPA’s analysis (the White House estimates it will only affect just 13% of imports).
China makes too many things. It would be great if they made it for their home market, but they do not. Instead, they massively subsidize their manufacturing companies and overproduce for the world – their main market being the United States.
The United States-Mexico-Canada (USMCA) Free Trade Agreement is fast becoming a free trade agreement for the world, whereas any multinational with a presence in Mexico can set up shop and make the U.S. its number one target. China is doing that now.
Today’s announcement on actions to address Mexico steel surge shows that White House foreign policy bureaucrats that negotiated this deal care more about Mexico than about American workers.
CPA today announced that the U.S. Private Sector Job Quality Index (JQI) was 82.45, essentially flat with only a change of -0.03% from the preceding month.
The goods and services deficit for May rose a tad to $75 billion, up 0.8% from the previous month.
Domestic content rules and mandates have worked for China. Should the U.S. try to copy it, in spots, along key supply chains like new energy and semiconductors?
