By Jeff Ferry, CPA Research Director The Republican tax reform plan is suffering from a shortage of funds. Paul Ryan and his colleagues are trying to give the American people a substantial tax cut as their signature achievement of 2017. However, they are constrained by Congressional rules that limit increases in the federal budget deficit…
Senate Minority Leader Chuck Schumer (D-NY) said today that while President Trump “may not blame China” for the U.S. trade deficit, he does – “and so do millions of Americans who voted for him and others who have lost their jobs at the hands of China’s rapacious trade policies.” [Daily News | November 10, 2017…
BEIJING — When President Trump arrives in Beijing on Wednesday, he will most likely complain about traditional areas of dispute like steel and cars. But Washington officials and major global companies increasingly worry about a new generation of deals that could give China a firmer grip on the technology of tomorrow. [Jane Perlez, Paul Mozur…
South Korea is slated to complete an economic feasibility assessment this week outlining potential amendment areas — which could include agriculture — in the U.S.-Korea Free Trade Agreement, according to sources and media reports. [Isabelle Hoagland | November 6, 2017 | Inside US Trade] In accordance with its statutory requirements for renegotiating trade agreements, South…
US Trade Representative Ambassador Robert Lighthizer discussed US trade policy and China’s economic goals on Friday’s “Ingraham Angle” on the Fox News Channel. [November 4, 2017 | Breitbart] Partial Transcript as Follows: INGRAHAM: “China has something called their 2025 project. It’s their focus to dominate every major industry from 3D printing, to rare earth, to heavy manufacturing, tool…
Washington ~ The Bureau of Economic Analysis and the Census Bureau released its September report on international trade today showing that the year-to-date US goods and services deficit increased by 9.3 percent as compared to last year. “The overvalued dollar continues to make American exports of goods and services too expensive in international markets, hampering…
GENEVA—Inside the cement compound housing the World Trade Organization lies a colorful Chinese garden of cultivated rocks, arches and calligraphy. The gift from the Chinese commerce ministry symbolizes “world prosperity through cross-cultural fertilization,” according to a marble plaque. [Jacob M. Schlesinger | November 2, 2017 | WSJ] It’s not the only way China has left…
By Jeff Ferry, CPA Research Director Technology giant IBM reported its third quarter results on Oct. 17th, and extended a stunningly long losing streak with its 22nd consecutive quarter of declining sales. In four years, quarterly revenue has dropped 18%. As they say on Twitter: Sad! The problems at the computer giant are due mostly…
Back in May, this column reported on President Donald Trump’s “Buy American” executive order, which formally announced the administration’s policy and plan to “maximize . . . use of goods, products and materials produced in the United States” through federal procurements to “support the American manufacturing and defense industrial bases.” [Jeff Bozman, Justin M. Ganderson…
Briggs & Stratton Corporation, a manufacturer of gasoline engines for outdoor power equipment, will relocate production of its V-Twin Vanguard engines from a joint venture partnership in Japan to its existing manufacturing facilities in Statesboro, Georgia and Auburn, Alabama. [Area Development News Desk | October 31, 2017 | Area Development News] Production of V-Twin Vanguard engines in…