In June, U.S. Trade Representative Katherine Tai gave a speech in which she outlined her vision of worker-centered trade, a popular phrase among Biden administration officials. According to Tai: “Build Back Better starts by growing the economy from the bottom up and the middle out and putting workers at the center of our economic plans…In…
CPA member Doug Berger started Industry Reimagined 2030 this year. Here is how he imagines it. Hint: he doesn’t think the government can fully protect us, or throw money our way forever. Something else has to be done.
Long-term economic growth is the single most important objective for any nation. As growth economist and Nobel laureate Paul Romer has said: “For a nation, the choices that determine whether income doubles in one generation or two dwarf all other economic policy concerns.” In the United States, real income per capita grew in the 3%-4%…
Goods Deficit Also Sets Monthly Record at $93.2 Billion Department of Commerce figures published this morning show that in June the U.S. reported a trade deficit of $75.7 billion, a new record for U.S. and world history. The deficit was 6.7 percent higher than the May figure, and 49.4 percent worse than the year-ago June…
The US International Trade Commission (ITC) recently released a comprehensive analysis of the economic impact of all trade agreements the United States has entered into since 1985. Trade agreement negotiation, passage and implementation has been controversial throughout this time period. The ITC report is significant as the first recognition by a federal government trade agency…
Key Points CPA’s economic modeling of a U.S.-U.K. free trade agreement that cut tariffs to zero between the two countries shows that such an agreement would increase unemployment by more than 2,000 jobs and reduce U.S. GDP by $142 million. This economic model includes for the first time a methodology for estimating job loss due…
Biden administration official Brian Deese talks about ‘Five Pillars’ to Build Back Better Post-Pandemic, and a national strategy to reindustrialize.
The United States government has pursued trade liberalization for several decades. A substantial driver of this liberalization has been the assumption that more global trade would help developing countries become wealthier. However, there is considerable research that shows how trade liberalization policies have not always been the best tool to help support economic growth and…
A year ago, at the height of the pandemic, a severe shortage of vital personal protective equipment (PPE) hit America. Hospitals were asking staff to re-use masks and other protective equipment. Health care professionals, political leaders, and ordinary people with family members in hospitals and on ventilators were all in agreement: the U.S. must not…
Executive Summary The CPA Reshoring Index is the first and only measure of U.S. producers’ share of the U.S. domestic market for manufactured goods. It is calculated from federal government data on manufacturing production, imports, and exports. The Reshoring Index for 2020 shows that U.S. producers had a 69.6% share of the U.S. market with…