Editor’s note: More reasons to not believe China promises to change. U.S. has slammed program as a subsidy-stuffer to advance China as global technology leader at U.S. expense [Lingling Wei | March 5, 2019 | Wall Street Journal] Instead, Mr. Li said the government would promote advanced manufacturing. He ticked off a list of emerging…
Editor’s note: Wellborn Cabinet, a petitioner in the trade case below, is a CPA member. China’s Shopping List in America Has These Farm Goods at the Top [Joe Deaux | March 6, 2019 | Bloomberg] U.S. may take market share from Brazil, Argentina, Australia A U.S.-China trade deal means the end of an era: Brazil group…
Excerpt: “The laissez-faire, free-trade approach just burned up our countryside,” BELLEVUE, Wash. — Farmers at the 117th anniversary convention of the National Farmers Union this week had the same worry as the ones who attended the organization’s first gathering more than a century ago — low incomes. [Don Jenkins | March 7, 2019 | CapitalPress.com]The 460…
Overvalued dollar drives record US deficits with China, rest of world Washington. Annual data released this morning by the Commerce Department shows that America’s overall trade balance continued to worsen in 2018. Not only did the United States record its highest-ever global trade deficit in goods—at $891.3 billion—but the annual goods deficit with China soared…
Brian Duncan, Vice President of the Illinois Farm Bureau, Zach Mottl, Chief Alignment Officer of Atlas Tool Works, and Peter Roskam, former U.S. Congressman and current IOP Pritzker Fellow, had a panel discussion on the short – and long-term dynamics of the Trump administration’s trade policies, particularly as they affect Illinois. They discussed the current…
Editors note: we may be seeing the Made in USA labeling issue become more powerful. CPA’s Buy American Committee is working with legislators and the administration to strengthen these laws. Here’s a story from The New York Times that I thought you’d find interesting: Democrats are questioning why firms that manufactured products in China but…
Editor’s note: Peter Navarro has driven a large part of the administration’s aggressive trade strategy. Last Friday, President Trump unveiled his grand strategy for American prosperity: the 2019 Trade Policy Agenda. This forward-looking report from the US Trade Representative maps out America’s deliverance from the bad deals, weak guardrails and sluggish growth that have handicapped…
By Jeff Ferry, CPA Chief Economist Data published this morning by the Department of Commerce show that US trade figures continued to worsen in December and for the year 2018, in response to the strengthening dollar, a fast-growing US economy, and a surge in imports to front-run last year’s tariffs, while President Trump’s trade measures…
Editors note: no signs yet that China plans to play nice in the future. BEIJING/SHANGHAI (Reuters) – China’s customs authority has suspended customs clearance procedures for Model 3 cars built by Tesla Inc, the financial publication Caixin reported on Tuesday. [Yilei Sun, David Stanway | March 5, 2019| Reuters] The report said the customs authority…
Editor’s note: CPA supports strong Buy America rules in government procurement. Our government’s procurement policy falls far short of its potential to encourage and support good jobs in domestic manufacturing. We need to strengthen domestic sourcing requirements for publicly funded programs, including those intended to repair our failing infrastructure…. [Owen E. Herrnstadt | March 4, 2019…