By Jeff Ferry, CPA Research Director New trade figures from the Department of Commerce show the US international trade picture continues to deteriorate. The US trade deficit in June hit $43.6 billion, almost the same as the year-ago June level of $43.8 billion. But for the first half of this year, at $276.6 billion, the…
White House trade adviser Peter Navarro said this week that the Trump administration’s trade moves over its first six months will pale in comparison to the “amazing” steps it will take over the next six, with national security investigations of steel and aluminum imports expected to “bear fruit” soon. [Daily News| July 27, 2017 |Inside US…
The Trump administration recently celebrated the workers and businesses that make this country great. The purpose of “Made in America Week” was to recognize that, when given a fair chance to compete, Americans can make and sell some of the best, most innovative products in the world. By Wilbur Ross July 31, 2017 7:09 p.m.…
Billings, Mont. – National cattle trade association R-CALF USA is making final preparations for its upcoming 18th Annual Convention to be held August 25-26 at the Best Western Ramkota Hotel in Rapid City, South Dakota. Keynoting the convention will be Rapid City native and now conservative political commentator Tomi Lahren, who has supported the interests…
The administration is considering a negotiated solution to tackle steel overcapacity that could involve “voluntary” agreements, House Ways & Means Committee members said on Thursday after being briefed by Commerce Secretary Wilbur Ross on his Section 232 investigations. [Jenny Leonard and Jack Caporal | July 27, 2017 |Inside US Trade] Ways & Means members who met with Ross…
There’s little doubt that the United States has suffered a manufacturing crisis over the past 15 years. With millions of factory jobs lost, and tens of thousands of factories having closed their doors, it’s clear that the global market has tilted unfavorably against U.S. industry. But the root causes of this decline extend far beyond…
Mainstream trade news continues to assert that trade deficits don’t matter. Economists help reporters write these fake news stories by claiming that America’s failure to save money is the problem, not foreign trade cheating. On June 20, 2017, the Coalition for a Prosperous America released a research paper, “Do Savings Rates Cause Trade Deficits?” by…
The Trump administration is considering action under a rarely used provision of the U.S. trade laws — Section 232 of the Trade Expansion Act of 1962 — to address national security concerns related to steel and aluminum imports. [STEPHEN KOPLAN | July 26, 2017 |The Hill] Perhaps unsurprisingly, the prospect of higher tariffs on even a…
WASHINGTON (Reuters) – The top U.S. trade negotiator said late on Tuesday that President Donald Trump is determined to challenge China’s use of unfair subsidies and “non-economic” industrial policy to build up export industries that are costing American jobs. [ David Lawder | July 26, 2017 |Reuters] U.S. Trade Representative Robert Lighthizer, in a rare media interview,…
(Pittsburgh) — United Steelworkers (USW) International President Leo W. Gerard released the following statement in response to news reports that President Trump has decided to delay action in support of the domestic steel industry under Section 232 of U.S. trade law. Section 232 provides the President with significant authority to impose penalties if he determines that…