At National Farmers’ Convention 2017 recently, Brian O’Shaughnessy, co-chairman of the Coalition for a Prosperous America and chairman of Revere Copper Products, talked trade, value-added tax and mercantilism to organization members in Springfield, Missouri. [February 11, 2017 |Midwest Ad Journal] “Since 2000, more than 30 percent of the manufacturing facilities Revere ships products to domestically…
The House GOP’s border adjustability plan to rebate taxes on exports but not allow deductions for imports — a proposal staunchly opposed by retailers and other industries that have formed a coalition to fight the plan — could garner sufficient support on Capitol Hill and among the business community if transition periods and “phase-ins” for…
SAN FRANCISCO — Intel, the world’s largest computer chip manufacturer, will invest $7 billion to finish a factory in Arizona, adding 3,000 jobs, the company’s chief executive said on Wednesday after meeting with President Trump at the White House. [VINDU GOEL| February 8, 2017 |The New York Times] The completion of the factory, which will complement two other…
Whether President Trump’s trade policy can deliver on his stated goals of reducing the U.S. trade deficit and creating American jobs remains to be seen. Whether he can build congressional support for his trade agenda is also uncertain. [Lori Wallach| January 31, 2017 |The Hill] Many congressional Republicans support the status quo. Many congressional Democrats…
The media have been filled with accounts in recent years of how automation is displacing workers and threatening the country with mass unemployment. Even President Obama even made a point of warning about the dangers of mass displacement from automation in his farewell address. [Dean Baker| February 5, 2017 |Beat the Press] This obsession is…
FRANKFURT—Germany’s exports exceeded its imports by the widest yearly margin on record last year, a sign of the strength of Europe’s biggest economy that could inflame tensions between Washington and Berlin over their trade relations. [NINA ADAM and ANDREA THOMAS| February 09, 2017 |Wall Street Journal] Germany’s trade surplus—or the balance of exports and imports of goods—rose…
Wait for it. Here comes the Tokyo delegation — with lots of shiny trinkets and flattering words for President Donald Trump. [Kevin Kearns| February 9, 2017 |LifeZette] Yes, Japan’s prime minister, Shinzo Abe, is coming to the White House on Friday to present a five-point plan explaining how his county can work with the United States to…
“The virtuous cycle of capital has broken down,” says Dan Alpert, Managing Partner at Westwood Capital in this new edition of Real Conversations. [Dan Alpert| February 09, 2017 |HedgeEye] That’s not hyperbole. Alpert wrote the book, “The Age of Oversupply.” In it, he argues that a global labor glut, excess productive capacity, and a rising ocean of cheap capital…
Washington ~ The U.S. Department of Commerce released a report yesterday showing that the US trade deficit rose to $502.3 billion, its highest level since 2012. “The huge trade deficit continues to hollow out U.S. manufacturing industry and depress real incomes in many parts of the country,” said Jeff Ferry, CPA Research Director. “All eyes are on the Trump Administration…
By Jeff Ferry, CPA Research Director The United States trade deficit for 2016 rose to $502.3 billion, its highest level since 2012, as a growing U.S. economy, a rising U.S. dollar, mercantilist practices by many foreign trading partners, and generally lackluster economic growth in foreign markets combined to make the trade balance a negative force in…
