By Kenneth Rapoza, CPA Industry Analyst USTR Senior Advisor Mark Wu shares our view on the World Trade Organization. He warns that the Biden Administration will likely realize that they do have to go it alone sometimes in dealing with China, just like the previous administration did. If you have never heard of Mark Wu,…
By Kenneth Rapoza, CPA Industry Analyst New hires inside the USTR bode well for CPA view on trade, currency. Joe Biden is filling new roles at the United States Trade Representative, led by Katherine Tai, whom we suspect will replace Robert Lighthizer. The new hires are interesting, including former Obama/Biden Treasury Department economist Brad Setser.…
The Broken Tax System: Is It Hurting American Domestic Business? Discussing economic implications, revenue streams and corporate tax avoidance. David Morse, the tax policy director for CPA sheds some light on Sales Factor Apportionment and why it’s needed. Watch episode 3: Trade
By Kenneth Rapoza, CPA Industry Analyst The December trade deficit in goods and services fell 3.5% to $66.6 billion in December after a big boom in November. One big takeaway from the last month of 2020, China trade is giving way to Mexico in near-shoring effort. The goods and services deficit for the month of…
By Kenneth Rapoza, CPA Industry Analyst President Biden’s National Security Council looks tough on China. How will they act on it? President Biden, initially criticized for being soft on China, is having to prove otherwise. We are liking some of the additions to the China watch team inside the National Security Council (NSC). Other than…
By Kenneth Rapoza, CPA Industry Analyst Why reshoring and near-shoring are better for the environment in the near-term. Globalization is an environmental headwind. If climate change risks are going to be measured in most policy decisions made in the Biden Administration, then the environmental impact of transoceanic shipping should be part of the equation.…
Electric vehicles are said to be the next big thing, and the next sure thing in automotive. How will the US fare? Nissan leads the pack. Tesla is second. We have three startups that show promise. Meanwhile, China is gaining and setting itself up to be an indispensable part of the EV automotive supply chain.…
By Kenneth Rapoza, CPA Industry Analyst Score one for the local pharmaceutical industry. FDA’s essential medicine and critical inputs list gives domestic producers a a sense of exactly what government procurement contracts will place under Buy America provisions. The Food & Drug Administration released a massive list of essential medicines and critical inputs on Friday…
By Kenneth Rapoza, CPA Industry Analyst Why are we dependent on China’s pig population for a critical animal source material used in making heparin? Bovine heparin is the way to ween ourselves from that part of the medical supply chain, currently over-reliant on China. It is found in hospital crash carts, is one of the…
By Kenneth Rapoza, CPA Industry Analyst Is the sugar substitute stevia being harvested and produced through forced labor in China? Homeland thinks so. And Customs & Border Protection agrees. The US Department of Homeland Security said on Tuesday that some of the sugar substitute stevia that comes from China is being harvested and packed by forced…