Former Nucor Corp. CEO Dan DiMicco stoutly defended the Trump administration’s aggressive foreign trade policy and tariffs at a metals convention Thursday in Charlotte. When a worried manufacturer asked how long the tariffs would last, the often prickly DiMicco declined to offer much comfort. [John Downey | October 12, 2018 | BizJournals] “This issue is not going…
Editor’s note: China’s Central bank has management of exchange rates and the current account balance as part of its job. Our central bank does not. Our market access charge bill would change that, adding exchange rate management to the Fed mandate with tools to achieve a current account (trade) balance. Federal reserve staff has wrongly stated…
Editors note: another case of dangerous pharmaceutical drugs coming in from China. Most active pharmaceutical ingredients come from China, having moved out of the USA. China’s Zhejiang Huahai Pharmaceutical for years enjoyed the upside of the U.S. pharmaceutical market, selling its valsartan API to drugmakers producing blood pressure meds for the market. Now it is seeing…
Editor’s note: CPA supported the bill to strengthen controls on incoming foreign investment. The rules are now being written for implementation. The Treasury-led interagency committee will now require foreign investors to alert it to all deals giving them access to critical technology across 27 industries—including semiconductors, telecommunications and defense—that the committee believes could threaten U.S.…
Editors note: Evasion of tariffs through misidentifying tariff codes is not new, but this article is very helpful to focus on the problem. One day in June, seven months after the U.S. imposed stiff tariffs on plywood from China, a wood importer in Oregon got a call from a supplier asking if he would like to…
Trump administration details blueprint to rebuild key manufacturing sectors Washington. The Coalition for a Prosperous America (CPA) today said the Trump administration’s new report on vulnerabilities in the US defense industrial base is welcome and critical to national and economic security. The new report offers a comprehensive assessment of the state of defense manufacturing in the United…
New trade data from the Department of Commerce shows that America’s trade deficit continues to rise, with the August seasonally-adjusted deficit of $53.2 billion rising 6 percent above the July figure and a staggering 20 percent worse than the August 2017 figure of $44.2 billion. On a year-to-date basis, the trade deficit is running at $391 billion,…
Editors note: this is an important report that we have been waiting for. It will be the start of moving our defense industrial supply chain away from reliance on strategic competitors like China. Beijing’s “trade dominance” and willingness to use trade as a “weapon of soft power” is putting the U.S. manufacturing and defense industrial…
See the video here. Thank you, Ken, for that kind introduction. To the Members of the Board of Trustees, to Dr. Michael Pillsbury, to our distinguished guests, and to all of you who, true to your mission, “think about the future in unconventional ways” – it’s an honor to be back at the Hudson Institute.…
Editors note. This report will be very big when it comes out. The trade conflict with China Will continue for a long time. A U.S. Defense Department-led review ordered by President Donald Trump concludes that the Chinese government is deliberately leveraging its monopoly on certain key natural resources to undermine the U.S. defense industrial base,…
