Wall Street’s hair is on fire about steel and aluminum tariffs imposed by President Trump, because closing mills and factories in the United States and moving them overseas is how investors enrich themselves. [Richard Trumka | March 20, 2018 | Washington Post] And those wealthy investors reap even fatter profits when offshore mills and factories violate trade…
Details
U.S. tariffs on aluminum and steel imports will add thousands of jobs at domestic producers, offsetting labor losses in other industries, while economic growth will slow by a tiny percentage, according to the Coalition for a Prosperous America. [Joe Deaux | March 20, 2018 | Bloomberg] The study is from the nonprofit organization, which has…
Details
Research finds slight decline in GDP, no job loss Washington. A new study from the Coalition for a Prosperous America (CPA) finds that the effects on the US economy of the recently announced Section 232 steel and aluminum tariffs would be nearly undetectable, with the net job impact approaching zero. Gross domestic product would decline by only eight one-thousandths of one…
Details
By Jeff Ferry, CPA Research Director CPA Economic Model Refutes Alarmist Trade Partnership Study A Coalition for a Prosperous America (CPA) modeling study of the impact of the Section 232 tariffs on the U.S. economy shows minimal national macroeconomic impact of the tariffs. The study shows that U.S. GDP would fall by 8/1000s of 1…
Details
Rep. Andy Barr (R-KY), the chairman of the House Financial Services subcommittee, is still aiming to send by August a bill to the president’s desk that is based on Sen. John Cornyn’s (R-TX) legislation to modernize and expand the jurisdiction of the Committee on Foreign Investment in the United States, he told Inside U.S. Trade on Thursday after…
Details
The U.S. can institute tariffs on foreign goods without sparking a global trade war, a senior White House economic official said Thursday. [Jeff Cox | March 16, 2018 | CNBC] In slapping tariffs on steel and aluminum, the Trump administration is acting in the nation’s economic and national security interests and not looking to provoke, Peter…
Details
Sen. Tammy Baldwin (D-WI) this week blasted a panel of Cabinet members for a lack of “Buy American” language in the White House’s 2018 infrastructure blueprint, issued last month. [Isabelle Hoagland | March 16, 2018 | Inside US Trade] The White House proposal, released on Feb. 12, does not include provisions mandating the use of U.S.…
Details
Peter Schweizer, who delved into the Clinton Foundation’s dealings in 2016’s “Clinton Cash,” has turned his sights to the money-making machinations of DC’s political elite. [Larry Getlen | March 17, 2018 | Politico] His new book, “Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends,” — due out Tuesday from Harper Collins — exposes…
Details
President Trump knocked over several apple carts when he signed an order imposing tariffs on imported steel and aluminum. [Curtis Ellis | March 9, 2018 | WND] He upended decades of free-trade dogma that prevailed in Washington whatever party held power. He rejected the ivory tower theories that created the economic nightmare that has destroyed…
Details
Washington~ Members of the Coalition for a Prosperous America (CPA) visited more than 100 House and Senate offices in the nation’s capital this week to sound an alarm: America’s massive, growing trade deficit is killing jobs, harming communities, and stifling economic growth. In a two-day blitz, CPA members left their mark on Capitol Hill, urging…
Details