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…
Foxconn, the Taiwanese electronics supplier for Apple and other tech giants, said Wednesday it would open its first major American factory in Wisconsin, a boost both for the battleground state’s economy and the Trump administration’s efforts to bolster domestic manufacturing. [ NELSON D. SCHWARTZ and VINDU GOEL | July 26, 2017 |New York Times] White House officials noted President…
President Trump said Tuesday that his administration is delaying a long-awaited verdict on whether to restrict imports of foreign steel, again punting on a decision that has divided U.S. industries and his own administration, as well as strained ties with some of the country’s closest allies and trading partners. [ Ana Swanson | July 25, 2017 |The Washington Post]…
By Rep. Bradley Byrne President Donald Trump recently devoted a week to celebrating the importance of “Made in America” products with special events at the White House. I was pleased to see the president shining a spotlight on the many first-class items produced here in the United States. I often meet with manufacturing leaders from…
The U.S. is toughening its scrutiny of Chinese deals, throwing a number of high-profile takeover bids into question and helping spur a huge case backlog, according to people familiar with the process. [ Kate O’Keeffe and Julie Steinberg | July 21, 2017 |The Wall Street Journal] The Committee on Foreign Investment in the U.S. has signaled there…
The value of the dollar has fallen steadily since the beginning of 2017, erasing a sharp rise immediately after President Trump’s election. [BINYAMIN APPELBAUM | July 20, 2017 |The New York Times] To take one example, the number of euros that can be obtained for one dollar has declined to the lowest level in more than…
President Donald Trump hosted a ‘Made in America’ product showcase at the White House on Monday, an event that celebrated American-made products, according to the administration. [Peter Navarro | July 19, 2017 |USA Today] The cynics criticizing “Made in America” show just how out of touch they are with the challenges confronting American workers and…