Editor’s note: This very, very limited tariff deferral program would have been a lot bigger if CPA and others had not gotten involved to block a blanket deferral of tariffs. Move won’t apply to goods imported from China, steel or aluminum [William Mauldin | April 19, 2020 | WSJ] The Trump administration said it would allow some…
By Jeff Ferry, CPA Chief Economist According to rumors circulating in Paris, French president Emmanuel Macron recently had a phone call with Chinese president Xi Jinping in which the Frenchman asked for an emergency shipment of a billion face masks to cope with the COVID crisis. The Chinese president is said to have replied: “We…
By Jeff Ferry, CPA Chief Economist Abstract As we emerge from the current lockdown and economic freeze, the US economy will need a substantial boost. Congress should respond to this opportunity with a two-part economic rebuilding program we call Made in America 2030. This $5 trillion ten-year program would support the rebuilding of vital American…
Editor’s Note: Michael Stumo is CEO of the Coalition for a Prosperous America (CPA). America’s annual trade deficits with China have soared—rising from $83 billion in 2000 to $420 billion in 2018. [Michael Stumo | April 5, 2020 | Industry Week] Twenty years ago, President Clinton gave a speech urging Congress to approve normalized trade with…
Editors Note. The US should do this too. Japan has earmarked $2.2 billion of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners. [Isabel Reynolds | April 8, 2020 | Bloomberg] The extra budget, compiled to try to offset…
Editors Note: A mea culpa from a Wall St financier who offshored production to China. It’s clear that our medical supply chains are in complete chaos. Supplies are so short that some doctors and nurses in New York City reverted to wearing garbage bags in place of unavailable medical gowns or protective gear, to reusing…
Editors note: COVID will cause the China decoupling trend to massively accelerate. The coronavirus COVID-19 that originated in China may be the last straw that finally has triggered American companies to exit China. In the Global manufacturing consulting firm Kearney’s seventh annual Reshoring Index released on Tuesday, co-author Patrick Van den Bossche writes: [Hank…
Editors note: This article is very well done. Miami: It’s time to practice social (and economic and political) distancing from Patient Zero of the Covid-19 outbreak, the Chinese Communist Party (CCP). [Cleo Paskal | April 4, 2020 | Sunday Guardian Live] This global disaster has one origin, the nature of the CCP. I’ll explain. Some…
Editors note: This is big because it’s the first time that the FTC has issued a financial penalty against a company for false “Made in USA” claims. Home products and kitchen wares company Williams-Sonoma Inc. has agreed to stop making false, misleading, or unsubstantiated claims that all of its Goldtouch Bakeware products, its Rejuvenation-branded products, and…
Editor’s note: President Trump has formalized the national security review of foreign companies seeking to participate in the US telecom sector. This was an informal Team Telecom committee before. The purpose is to block foreign owned telecom industry firms from doing business here, especially from China or Russia, for national security reasons. By the authority…