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.
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).
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.
This article includes details of products, rate increases, timelines, and the background behind the Biden Administration’s Section 301 Tariff Increase Proposal.
The standard pipe import surge from the UAE, Thailand, Vietnam, and Oman is particularly concerning as these countries continue to have substantial economic ties with countries considered U.S. geopolitical adversaries.
As China’s policies continue unchecked, the world is experiencing China Shock 2.0, with devastating economic, social, and political consequences.
A below-expectations jobs report and a continuing decline in the JQI are not good
signs for the U.S. economy.
The CPA Domestic Market Share Index (DMSI) rose slightly for both Q4 2023 and the full year last year. The U.S. trade deficit in manufactured goods came in at an alarmingly high $1.07 trillion last year.
The Biden administration’s recently announced proposal to increase the steel and aluminum tariffs on Chinese products from 7.5% to 25% could be a mixed bag.
US productivity growth has underperformed since the year 2000.
