How Steel Tariffs Are Helping US Workers

This article is an expanded version of testimony delivered by Mr. Ferry to the U.S. International Trade Commission on July 22, 2022.   The Section 232 steel tariffs have benefited the U.S. steel industry and its workforce American steelworkers earned an average of $117,200 last year, making steel one of the best-paying industrial sectors in…

Tariffs Could Have Helped Us Avoid the Current Inflation Spike

  By Amanda Mayoral   Summary Global supply-chain crises, over-dependence on foreign production and government stimulus best explain the current inflation problem. Policy makers should learn from current crises and enact policies to reduce our strong dependence on unreliable foreign suppliers. Tariffs can cause a one-time rise in prices, but they don’t cause persistent month-after-month…

Chinese Solar Manufacturers Hold Biden Administration to Ransom

Thirty years ago, Clint Eastwood held a gun to his rival’s head and asked the question: “Do you feel lucky, punk?” That is what the Chinese solar manufacturers are doing today, with President Biden at the other end of that Magnum 44 six-shooter. On March 28th, Biden’s Commerce Department decided to pursue an anti-circumvention case…

Sanctions Impact Due More to U.S. Economic Strength Than Dollar’s Reserve Currency Role

Summary Sanctions on Russia are devastating to the Russian economy Power of the sanctions is due to concerted international action, not to the US role as world’s “reserve currency” U.S. economic power owes more to the size of U.S. economy than to dollar’s reserve status Dollar overvaluation continues to be a huge problem for U.S.…

Good Financial Actions on Russia. Biden Must Go Further

On Saturday, the U.S. government, European Commission, and five major nations issued a statement on financial sanctions against Russia which targets some of the largest Russian banks and drastically reduces the ability of the Russian central bank to support the value of the ruble currency by restricting their access to their reserves held outside Russia.…