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…
Editor’s note: Congressman Peter DeFazio is absolutely correct. It will take years to fully understand the impact COVID-19 has unleashed on our country, but one thing we know for certain is that the pandemic has exposed the dangerous and indefensible public health and national security threats of hyperglobalization. It has revealed the frightening truth that…
Editor’s note: Marc Fasteau (CPA Board Member) and Ian Fletcher (CPA Advisory Board Member) authored this important piece describing the economic basis of successful industrial policy. A book will be coming soon. Industrial policy is back on the national agenda. From Marco Rubio on the right to Elizabeth Warren on the left, a bipartisan consensus…
Editor’s note: Chinese companies’ fraud is not just in the stock market, it is in the FDA approval database. WSJ analysis shows gaps in FDA coronavirus-response program; false address, nonworking number [Austen Hufford, Mark Maremont and Liza Lin | June 12, 2020 | WSJ] More than 1,300 Chinese medical-device companies that registered to sell protective…
Editor’s note: Excellent news that there is planning for a stimulus package to broadly promote Buy American and production here. (CNN) — White House trade adviser Peter Navarro said Saturday that the White House is targeting a phase four stimulus package focusing on American manufacturing that will be “at least $2 trillion dollars.” [ Jason…
Editor’s note: FDA is complicit in offshoring our drug supply chain. We need to bring it back to the US. The Food and Drug Administration had to walk back testimony by an official at a Senate hearing last week after he downplayed the scale of China’s dominance of the drug supply chain in the U.S.…
Editor’s note: Just as Amazon seeks to use blockchain to fight counterfeiting, US Customs and Border Protection should consider using blockchain to fight customs fraud (counterfeiting, country of origin lying, etc). The world’s largest e-commerce retailer has received patent approval for its latest solution in a long line of weapons for fighting counterfeit items on…
Editor’s note: Rep. Mike Gallagher says that it is time to stop denying it and acknowledge that we are in a cold war with China. Some lessons from the Soviet era apply: Seek bipartisan consensus and allies, and avoid armed conflict. [Mike Gallagher | June 7, 2020 | WSJ] China has pushed back. Two weeks…
