Editor’s note: WaPo would be called protectionist if taking about trade instead of journalism in this editorial. “For many years, U.S. policy was guided by the logic that it is best to remain open, to showcase a commitment to values and principle. But what if China doesn’t care and doesn’t change its approach?” CHINA’S LEADERS…
Details
Editor’s note: Fed report finds business uncertainty but little actual impact of tariffs. Investment “uncertainty” from tariffs exists only if you want to invest somewhere else, not America U.S. companies showed widespread concerns about tariff and trade policy uncertainty, but generally reported minimal impact thus far, according to a regional survey from the Federal Reserve.…
Details
Excerpt: “Fundamentally, we believe that China will do everything it can to continue to deceive the U.S., including the use of delaying tactics to continue stealing from the U.S. and in order to take considerable advantage of America’s free and open market.” There is a Chinese proverb that translates as: “It is always better to…
Details
Editors note: Michele Nash-Hoff is a CPA member. The Baldwin-Hawley Senate Bill, S.2357, titled the “Competitive Dollar for Jobs and Prosperity Act” was introduced by Sen. Tammy Baldwin (D-WI) and Josh Hawley (R-MO) on July, 31, 2019. The purpose of the Bill is “To establish a national goal and mechanism to achieve a trade-balancing exchange…
Details
Goods deficit with China declines 10% from last year By Steven L. Byers, PhD, CPA Senior Economist The US trade deficit in goods and services for July 2019 decreased by 2.7 percent, to $54.0 billion, down $0.2 billion from $55.5 billion (revised) in June. The July decrease is due to a decline in the goods…
Details
Editors note: Canadian government to allow Chinese steel dumped at below cost to build a $40b LNG project. Watch as Canadian steel fabrication products will try to flood the US market looking for sales to keep domestic plants going. The Canadian Institute of Steel Construction says the federal government is giving away hundreds of thousands of…
Details
Editors note: General Motors is now the biggest exporter of vehicles from Mexico to the United States. General Motors Co. now employs fewer union-represented American workers than its domestic rivals for the first time since the United Auto Workers started organizing Detroit’s carmakers eight decades ago. [David Welch | August 29, 2019 | Bloomberg] GM’s…
Details
Editor’s note: Matthew Klein is one of the smartest global economics reporters. He describes how the US being the central banker to the world hurts our economy. The dollar is pushed too high, our debt grows to big, and economic decisions of foreign governments spill over into our economy. The U.S. economy is about 25%…
Details
Editor’s note: More reasons why a deal with China is wishful thinking. Recent purchases by a Chinese automaker raise the prospect of China being able to interfere with our transport system. [Jon Toomey | August 29, 2019 | The Epoch Times] Geely automotive (Zhejiang Geely Holding Group)—a Chinese global automotive group headquartered in Hangzhou, Zhejiang…
Details
Excerpt: The senators called on Amazon to conduct a large-scale internal investigation of its enforcement and consumer safety policies and to institute changes to keep unsafe products off its platform. Lawmakers call on Jeff Bezos to initiate investigation of company’s consumer safety policies following report of unsafe items sold on site [Alexandra Berzon, Justin Scheck and Shane Shifflett |…
Details