Editor’s Note: Today, July 1, the new USMCA comes into force, replacing NAFTA. In this note, USTR Robert Lighthizer explains the expected benefits of USMCA. Landmark trade agreement fulfills core Trump promise to end job-killing NAFTA [The Office of the United States Trade Representative | July 1, 2020 | USTR.gov] Washington, DC – The United…
Editor’s Note: New report documents China’s willingness to use its dominance in rare-earth minerals as leverage against the US. The US needs to accelerate efforts to revive our sole rare-earth mine, in Mountain Pass, California. The metals are used for a variety of advanced technologies, including weapons and computer screens [Timothy Puko | June 29,…
Editor’s Note: There are a number of key innovations that will help the US and its allies kick Huawei out of the world’s 5G networks and CPA member Parallel Wireless is at the leading edge of this fight. Can a new mobile-network technology get the United States back in the 5G race? [Jeanne Whalen |…
Editor’s note: Business consultants are recommending diversifying from China. But they still don’t have the national interest in building our jobs and our economy in their reports. ‘State of Logistics Report’ says ‘painful and chaotic’ 2020 will likely lead to more stockpiling, shifts in manufacturing [Jennifer Smith | June 23, 2020 | WSJ] Businesses reeling…
Editor’s note: There will be many more prosecutions as the FBI has an astounding 2000 China investigations open. China’s ambassador in Washington and a Chinese diplomat in New York City secretly aided in the recruitment of scientists in the United States, according to the FBI. [Caitlin Yilek& Jerry Dunleavy | June 25, 2020 | Washington…
Editors note: We are starting to get serious about re-shoring. WASHINGTON — U.S. government financing for projects to return critical supply chains to the United States as part of coronavirus response efforts could reach tens of billions of dollars and clients may include a projected $12 billion Taiwanese semiconductor plant, the head of the agency…
Editor’s note: Marc Fasteau and Ian Fletcher are interviewed in this podcast relating to their recent article on the economic foundations of industrial policy. This podcast accompanies their recent article on the topic in Palladium magazine. Marc Fasteau and Ian Fletcher join Wolf Tivy to discuss the economic foundations of industrial policy, why manufacturing is…
Editor’s note: This is good news. Trump’s leadership potentially sets the stage for a vigorous congressional debate over continued U.S. membership in the trade body. [Doug Palmer | June 23, 2020 | Politico] Critical context: A provision in the 1994 Uruguay Round Agreement Act, which approved U.S membership in the WTO, allows Congress to vote…
Editor’s note: The major meatpackers in the US are foreign-owned, or they are stateless multinationals. Their warnings of meat shortages while exporting more to China are another reason that they shouldn’t be trusted. Senators Elizabeth Warren and Cory Booker questioned how companies could warn of pandemic shortages while exporting record amounts of pork to China.…
Editor’s Note: “Martin Wolf, in this article, reviews Pettis/Klein’s new book “Trade Wars are Class Wars”. It is an important book and even Wolf manages to get most of it right. The “trade wars” are not Trump tariffs but pre-existing trade imbalances. The imbalances are caused by engineered overproduction in relation to consumption in persistent…
