By Steven L. Byers, PhD, CPA Senior Economist The US trade deficit in goods and services for June 2019 decreased by 0.3 percent, to $55.2 billion, down $0.2 billion from $55.3 billion (revised) in May. The decrease is due to a decline in the goods deficit of $0.8 billion along with a decrease in the…
Excerpt: “Mr. Liu allegedly skirted the tariffs by shipping aluminum to the U.S. in the form of pallets, a finished product not on the list of penalized items. But most of the pallets weren’t actually finished products, according to the indictment, and were allegedly a way to smuggle aluminum into the U.S. without paying the…
Bipartisan bill would realign US dollar to eliminate trade deficit Washington. The Coalition for a Prosperous America (CPA) today offered its highest possible support and endorsement of the new, bipartisan Competitive Dollar for Jobs and Prosperity Act (CDJPA) introduced by Senators Tammy Baldwin (D-WI) and Josh Hawley (R-MO). The bill would require the Federal Reserve…
By David J. Lynch | July 30, 2019 | Washington Post Federal Reserve Chair Jerome H. Powell has spent several months fending off President Trump’s demands to lower the value of the dollar to help American manufacturers sell their goods abroad. Under a bipartisan Senate bill due Wednesday, the central bank chief no longer would…
Editor’s Note: Press release from Sen. Tammy Baldwin Bipartisan legislation would realign U.S. dollar to close trade deficit WASHINGTON, D.C. – For two decades, foreign countries, including China, have manipulated their currencies to boost their exports while making American products more expensive abroad. Foreign purchases of U.S. stocks, bonds and other assets have also…
Editor’s note: Presidential candidate Elizabeth Warren has submitted the most detailed trade agenda of any candidate. While there are several good parts of the plan, there is no mention of the trade deficit or the misaligned dollar exchange rate. Last month, I released my economic patriotism agenda — my commitment to fundamentally changing the government’s…
Editor’s note: An analysis of how Asian economies grew stunningly through intentional policy and not laissez-faire free trade. I’ve always had highly libertarian instincts, for both pragmatic and ideological reasons. You say civilians should be able to own rocket launchers, I demand that these rocket launchers not face a sales tax. But for me and…
Editor’s note: China has received preferential treatment at the WTO as a “developing country” but it has long outgrown that status. This move continues towards the possible end of the WTO. President presses trade organization to change China’s ‘developing country’ status [Jacob M. Schlesinger and Alex Leary | July 26, 2019 | WSJ] WASHINGTON—President Trump ramped…
Editors note: CPA distributed flyers last year in Congress stating that currency is the next front in the trade skirmish. Our prediction is coming true now. Divisions in White House emerge on whether to take rare step Internal currency feud echoes officials’ battles over trade [By Saleha Mohsin, Katherine Greifeld, and Shawn Donnan | July 26, 2019 |…
Editors note. China’s growth strategy relies upon suppressing consumption, overproducing, and exporting it’s goods glut to the US. Administration’s tariff strategy is working. They are looking for new places to do “economy-wide dumping”. Next step is realigning exchange rates. Faced with severe factory overcapacity at home and tariffs on exports to the U.S., Beijing wants…
