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…
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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…
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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…
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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…
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Excerpt: “The corrupt policy that prevents consumers from knowing from which country the beef they purchase for themselves and their families originated is the best policy the old-guard politicians and their multinational corporations can buy.” For decades old-guard politicians and multinational corporations worked together to satisfy their mutual self-interests – more wealth. They did so with little…
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By Steven Byers, CPA Senior Economist Last summer, Chinese officials began talking about the liberalization of Chinese markets, in response to criticism of the highly nationalist and protectionist Made in China 2025 (MIC2025) strategic plan. That was in response to growing trade tensions with the US, and other foreign governments and businesses. Flying under-the-radar, however, the…
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Editors note: Dear Mr. President, we have a paper on that. https://www.prosperousamerica.org/quantifying_economic_growth_job_creation_competitive_dollar President Donald Trump said Saturday that the U.S. dollar is too strong and took a swipe at Federal Reserve Chairman Jerome Powell as someone who “likes raising interest rates.” [Alyza Sebenius | March 2, 2019 | Bloomberg] The dollar was quoted lower against the…
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Editor’s note: 1) Will China cut the VAT for imports? 2) CPA’s position is that the US should have a VAT or goods and services tax to counter foreign VATs and to fund the reduction of other domestic taxes and costs. 3) This article also shows that using a VAT can, when needed, provide an…
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Editor’s note: Tariff-armageddon is still not happening. China know that its tariffs were pro-growth for its economy. We are just re-discovering that fact. But we also need to fix the overvalued dollar. Manufacturing employment has risen for 18 straight months, the longest stretch of gains among nonsupervisory roles since the mid-1990s [Chip Cutter | March…
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Excerpt: However, “the United States remains an independent nation, and our trade policy will be made here – not in Geneva. We will not allow the WTO Appellate Body and dispute settlement system to force the United States into a straitjacket of obligations to which we never agreed,” the report said. WASHINGTON (Reuters) – The Trump administration filed…
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