By Michael Stumo The globalist free traders just had another big hole blown in their rickety ideological ship. An important new study found that our massive imports have drastically reduced US innovation at US firms, as well as profits and employment. Those of us that follow these issues know that the economists and pundits that…
[ BRODY MULLINS and KRISTINA PETERSON | December 02, 2016 |The Wall Street Journal] WASHINGTON—Setting the stage for what could be the first clash between President-elect Donald Trump and Congress, House Speaker Paul Ryan and some congressional Republicans are raising concerns about a provision in a bill that would require the use of American-made iron and steel for U.S. water infrastructure…
[Noah Smith| December 06, 2016 |Bloomberg] Few are paying attention, but a proposal now working its way through Congress could change the U.S.’s whole approach to trade, industrial policy and taxation. The plan would exempt income earned on exports from corporate taxation. Today, corporations pay federal taxes on the profits they make from goods and services sold…
[Daily News| December 06, 2016 |Inside US Trade] Members of the Japanese business, academic, and think tank communities are holding out hope that President-elect Trump will eventually get behind the Trans-Pacific Partnership, and in light of that and other factors, seriously doubt that the U.S. and Japan will successfully pursue a bilateral trade deal in…
[Daily News| December 05, 2016 |Inside US Trade] President-elect Donald Trump turned to Twitter on Sunday to knock China on currency manipulation and tariffs. In two tweets posted on Dec. 4, Trump – perhaps responding to criticism of his decision to speak with Taiwan’s president, breaking decades of precedent and angering China – said: “Did China ask…
FOR IMMEDIATE RELEASE Annalyse Keller [email protected] (202) 225-4801 12/1/2016 Washington, D.C. – Today in a bipartisan effort, Congressman Mo Brooks (R-AL-05) and Congressman Dan Lipinski (D-IL-03) filed House resolution H.Con.Res.175, calling for a national goal of balanced trade, with a special emphasis on manufacturing and goods. Joint statement from Congressman Lipinski and Congressman Brooks: “We have long believed that the…
[Dean Baker| December 04, 2016 |Beat the Press] Harvard professor, textbook author, and occasional New York Times columnist Greg Mankiw told readerstoday that Donald Trump’s economic team is wrong to worry about the trade deficit. “The most important lesson about trade deficits is that they have a flip side. When the United States buys goods and…
[Daily News| December 02, 2016 |Inside US Trade] Reps. Dan Lipinski (D-IL) and Mo Brooks (R-AL) – who last year voted against granting President Obama Fast Track Authority – have introduced a bipartisan resolution urging the president and Congress to tackle the U.S. trade deficit “over a reasonable period of time.” “Resolved by the House of Representatives…
By Michael Stumo Beware of the counter-attack of the establishment. Chairmen Hatch and Brady are trying to pivot from the Trans-Pacific Partnership (TPP) to a new trade deal with Japan. I was in Washington visiting congressional offices in mid-November, the week after the election. I sat in the waiting room of one pro-TPP House office…
By Michael Stumo President-elect Trump promises to renegotiate NAFTA and withdraw if he does not get what he wants. What actually would happen if we withdrew from NAFTA? Certainly the old guard globalists would freak out. “America must lead, not isolate itself from the world!” “We must trade because 95% of US consumers are outside…