President Trump released his “Fair and Reciprocal Trade” memo on Thursday, calling into question whether these new proposed tariffs will be permanent like the China Section 301s or quickly removed once a country “reciprocates” in kind.
For far too long, America has been at the mercy of foreign producers that routinely violate FDA safety regulations for life-saving medicines, generic drugs, and essential medical equipment.
The evidence is clear: neither tariffs nor the surge of imports from trade liberalization have had a significant effect on inflation, positive or negative.
The study confirms that even President Trump’s most substantial tariff increases have a minimal impact on inflation, leading to a small total cumulative price increase, likely spread out over several years.
It’s the most well-known secret on Capitol Hill: China owns the American generic drug supply chain. Basic thyroid or blood pressure medications might finally be put into pill form in an Indian lab and sold under an Indian brand like Cipla. But the organic compounds, or key starting materials, mostly come from China.
China is forecast to account for 45% of the world’s global industrial production by 2030. That growth comes at the expense of the West, which is projected to drop to 11% of global production in the next five years.
This long-overdue action will protect American manufacturers and workers from the devastating surge of foreign imports that has harmed U.S. industry, particularly from Mexico in blatant violation of the 2019 Joint Steel and Aluminum Agreement.
Despite Section 232 global steel tariffs and quotas on European raw steel, imports of steel slabs and steel products like steel rebar are up. The surge is eating into domestic producer market share, and companies are closing shop.
America’s steel industry supports millions of American workers and is the backbone of critical industries. By imposing tariffs on steel imports and its derivatives, Trump can restore America’s industrial strength and secure a prosperous future for workers.
The U.S. Private Sector Job Quality Index (JQI) is now 84.04, down by 0.49% compared to last month. This continues the multi-month JQI decline trend. Meanwhile, the overall January 2025 Jobs Report from the government’s Bureau of Labor Statistics showed 143,000 jobs added in January.
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