By Jeff Ferry, CPA Chief Economist On October 25th, America’s largest steelmaker Nucor opened a new steel mill in Hickman, Arkansas. The mill will employ about 100 workers at an average salary of $80,000 a year. A jubilant Arkansas Governor Asa Hutchinson attended the opening and told the crowd: “I am thrilled that Nucor chose…
Supports permanent tariffs on subsidized imports from China Washington. As the Trump administration considers potential cuts to the tariffs it has imposed on China since 2018, the Coalition for a Prosperous America (CPA) is making clear that the tariffs must continue. Not only have the tariffs reduced China’s exports to the US, but domestic producers…
Editors Note: 1. Need tariffs permanent. Lots of manufacturers investing now, but will get killed by Chinese if tariffs go away. 2. Tariff reduction reciprocity is fake reciprocity given the IP theft, economy wide subsidies via renmimbi printing, other trade barriers. We don’t have those barriers. Just like past unilateral trade disarmament, we reduce tariffs, they might…
Editors note: The US should be dominating the whole supply chain for electric cars. China has no problem strong arming foreign companies, yet we debate about it here. Beijing built the world’s largest EV market, then pressured foreign car makers to use its batteries [Trefor Moss | November 3, 2019 | WSJ] SHANGHAI—A little-known Chinese…
Editor’s note: China decoupling needs to happen. Richard Spencer says America is at risk of relying on China and Russia for warship parts [November 5, 2019 | Financial Times] The US navy secretary has warned that the “fragile” American supply chain for military warships means the Pentagon is at risk of having to rely on…
By Steven L. Byers, PhD, CPA Senior Economist The US trade deficit in goods and services for September 2019 fell 4.7 percent or $2.6 billion, to $52.5 billion, as imports declined more than exports. The September decrease is due to a $2.7 billion decrease in the goods deficit, to $71.7 billion, and a decrease in…
Editor’s Note: Jeff Ferry, Chief Economist at the Coalition for a Prosperous America, about what’s going on with the US trade war. Interview starts [19:35] Jeff’s thoughts on the current trade situation Jason Hartman begins today’s show discussing where the real growth in wages is happening. Fortunately it’s happening in the “real” economy, meaning those jobs that…
Editors note: Wall Street whines about tariff uncertainty. But the certainty we need is a policy to decouple from China. Then investments in production in the US will become even more attractive Anyone who says businesses can’t move supply chains is wrong. They moved them to China a few years ago. And they can move…
Editor’s note: China is enacting laws now to make at least the appearance of complying with the oral Phase One agreement with President Trump’s trade team. China on Wednesday published new policies in areas the U.S. has put front and center in trade negotiations, releasing rules intended to strengthen intellectual property protections and stabilize its…
France made some big news recently in the world of global taxation. It enacted a tax targeting large U.S. tech companies – including Facebook, Amazon, Google and Apple – that are earning massive global profits. For years these multinational enterprises have avoided paying corporate taxes in the U.S., thanks to shell operations in tax havens like the…
