President Trump is falling woefully short on his promise to fix the trade deficit. It’s on track to hit $570 billion this year — up from $505 billion in 2016. Apologists argue the trade gap permits Americans to purchase less expensive consumer goods, while critics blame it for job losses. Three things are certain —…
President Trump is threatening to slap tariffs and quotas on imports of steel in a bid to curtail dumping and revive U.S. production, he said Thursday. [Isabelle Hoagland | July 13, 2017 |Inside US Trade] The president also slammed the U.S. trade relationship with South Korea and China, saying the U.S. is renegotiating its free trade…
In a new report, EPI Director of Research Josh Bivens explains the ways in which globalization has harmed the majority of U.S. workers and how policy decisions and trade deals have amplified this damage, and outlines a progressive response to globalization that would protect these workers’ wages and give the manufacturing sector a chance to reclaim…
Washington~ The Coalition for a Prosperous America (CPA) released a paper today with an improved methodology for calculating exchange rate misalignment and its connection to the US trade deficit, stagnation in wages and living standards, and slower economic growth. Authors Michael Stumo, Jeff Ferry and John R. Hansen (former World Bank economist) also discuss an…
Originally published in Huffington Post At last month’s Paris Air Show, China showed off its latest military drone, an unmanned intelligent computer-controlled vehicle called the CH-5. By Jeff Ferry, CPA Research Director Military experts were impressed. The CH-5 has a range of 20,000 kilometers (12,000 miles), and can stay aloft for up to 50 hours.…
By Jeff Ferry, CPA Research Director When a large number of famous economists from all sides of the political spectrum agree on something, the odds are that it is wrong. A new letter on the subject of steel tariffs is a good example of that rule. In a public letter dated Wednesday July 12th, economists…
Subsidized Chinese aluminum production has soared in recent years. The Trump administration has its eyes firmly on the prize when it comes to the U.S. Commerce Department’s Section 232 investigation into the national security implications of America’s steel import levels. [MATTHEW MCMULLAN| July 11, 2017 |Alliance for American Manufacturing] Yeah man. Their eyes are trained squarely on the…
President Trump has nominated Dennis Shea, the vice chairman of the U.S.-China Economic and Security Review Commission, to serve as ambassador to the World Trade Organization. [Dan Dupont| July 11, 2017 |Inside US Trade] Shea, who has served on the commission since 2007, and as chairman or vice chairman since 2012, is an attorney “with more…
BEIJING — China’s sovereign wealth fund is looking at big bets in America. But the $800 billion investment behemoth said on Tuesday it faced an obstacle: the United States government. [SUI-LEE WEE| July 11, 2017 |The New York Times] The fund, the China Investment Corporation, urged American authorities to allow better access to the market, at a time when…
Unifor and United Autoworkers, representing Canadian and U.S. autoworkers, have laid out four priorities the unions say must be addressed in the renegotiation of NAFTA: strengthening labor standards and boosting wages; balanced trade; “real ‘made in North America’ rules”; and benefits for workers being fairly shared in all three NAFTA countries. [Jack Caporal| July 11, 2017…