House Democrats, relegated to the chamber’s minority for a fourth consecutive Congress, are eyeing a drastic rewriting of the nation’s trade policies as a potential area in which they can wield relevance in President-elect Donald Trump’s new administration. [David Catanese| January 3, 2017 |US News] On the first day of the 115th Congress, a group…
By Jason Cooper, CPA Research Assistant US Buy America laws mandate that the government prefer domestic products over foreign ones when making purchases. Free trade agreements (FTAs) carve out exceptions to that mandate by requiring that the government treat the products of most of our major trading partners as equivalent to domestic. In other words,…
Wilbur Ross, President-elect Donald Trump’s pick to lead the Commerce Department, told the Senate Commerce Committee this week that expanding exports and cutting the U.S. trade deficit are among his top priorities if he is confirmed for the role. [Daily News| January 4, 2017 |Inside US Trade] In responses to a questionnaire he received from the…
By Jeff Ferry, CPA Research Director A new CPA economic analysis estimates that for each $1 billion of additional imports into the U.S. costs the nation 4,552 jobs. On this basis, the rise in imports from 2009 to 2015 has meant the loss of over 3 million jobs. There has been much public discussion of…
“He understands that international trade is a strategic game of conflicting national interests and a competition for good jobs and industries,” Stumo said in a statement. “America must move past the failed and simplistic Econ 101 trade policy of the past because the results have been an economic carpet bombing of the non-urban areas of…
Senate Finance Committee ranking member Ron Wyden (D-OR) this week told Inside U.S. Trade he will push Trump cabinet nominees with responsibility for trade policy on their commitment to enforcement, stressing he would like the new administration to take a “tough” and “smart” approach. [Daily News| January 5, 2017 |Inside US Trade] “If I could describe what…
In Global economic forces conspire to stymie U.S. manufacturing, Brookings’ David Dollar contends that job loss in manufacturing derives primarily from technological change, not from trade. If this were truly the sole cause, why have virtually all our trading partner been able to better deal with these technological changes and avoid the increasing trade deficit that the…
Coalition for a Prosperous America CEO Michael Stumo, meanwhile, said Lighthizer is “an excellent choice” – adding that “he understands that international trade is a strategic game of conflicting national interests and a competition for good jobs and industries.” Key lawmakers, business community welcome Lighthizer pick, touting his experience on trade [Jenny Leonard| January 3,…
WASHINGTON — President-elect Donald J. Trump on Tuesday named as his chief trade negotiator a Washington lawyer who has long advocated protectionist policies, the latest sign that Mr. Trump intends to fulfill his campaign promise to get tough with China, Mexico and other trading partners. [BINYAMIN APPELBAUM| January 3, 2017 |NY Times] Mr. Trump also…
by Jeff Ferry President-elect Trump’s appointment of Peter Navarro to a new National Trade Council has alarmed some traditional economists. Professor Navarro, co-author of a book and film called “Death By China” really believes that the U.S. must do something to address its $500 billion trade deficit and that China, a country that has run…
