Editors Note: While the pro-trade deficit lobby claims that 98% of consumers live outside the United States, this article shows most have little, if any, purchasing power. UNITED NATIONS — Poverty may be down worldwide, yet that does not mean that yesterday’s poor are today’s middle class. Data analyzed by the Pew Research Center…
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $41.9 billion in May, up $1.2 billion from $40.7 billion in April, revised. May exports were $188.6 billion, $1.5 billion less than April exports. May imports were $230.5 billion, $0.3…
One shortcoming of the Trans-Pacific Partnership is that it has only one major consumer market, the United States, while the rest of the trading partners are essentially producers with limited demand for imported goods, said Terence Chong, who is the executive director of the Institute of Global Economics and Finance at the Chinese University of…
WASHINGTON – Ways and Means Committee Ranking Member Sander Levin (D-MI) today issued the following statement following a luncheon hosted by Vice President Biden in honor of Nguyen Phu Trong, General Secretary of the Central Committee of the Communist Party of Vietnam: [Reposted from the Ways and Means site | Rep. Sander Levin | July…
WASHINGTON — With a final accord in sight, the 12 nations negotiating a trans-Pacific trade agreement linking 40 percent of the global economy have set a last round of talks for late July on the remaining issues on the most ambitious trade deal in a generation. [Reposted from The New York Times | Jonathan Weisman …
Countries are trade partners with a shared goal of challenging US hegemony, but past disputes and competing interests make the relationship more complex. Forget euro summits and G7 gatherings: for the countries that like to style themselves as the world’s rising powers, the real summitry takes place this week in central Russia, where Vladimir…
Germany is using its size and wealth to compel its Eurozone partners to take a hard line toward Greece but in the end, Germany has much to lose by forcing the Aegean nation to choose between more austerity and dumping the euro. [ by Peter Morici | July 7, 2015 ] Merkel’s government has…
Updated: Trans-Pacific Partnership (TPP) trade ministers are set to meet for two days beginning July 28 in Maui, Hawaii, to try and hammer out a deal, following several days of meetings there between chief negotiators, according to informed sources. Another source gave slightly different dates for the ministerial meeting, saying it would last four…
With Europe trying to contain the crisis in Greece and China attempting to limit the fallout from collapsing stock prices, the U.S. may be in for a bit of trade trouble. [by Justin Lahart | July 6, 2015 | WSJ] The Commerce Department will report May international trade figures Tuesday, and with the…
U.S. Trade Representative Michael Froman on Wednesday (July 1) made clear he does not view the lack of a bilateral market access deal with Japan as an obstacle to making progress on the other outstanding issues in the Trans-Pacific Partnership (TPP) negotiations, which he identified as those relating to agricultural market access with Canada, intellectual…
