Many people think that the decline in American manufacturing started with American manufacturers sourcing manufacturing offshore in order to achieve lower labor costs, avoid regulations, and pay lower taxes. While the decline accelerated after China was granted the status of Permanent Normal Trade Relations (PNTR) and was allowed to join the World Trade Organization, it…
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The Commerce Department’s report on its Section 232 investigation into steel imports has been deemed insufficient due to Defense Department objections and other concerns, sources told Inside U.S. Trade, delaying its release and any action the president might take to shore up the U.S. industry. [ Isabelle Hoagland | December 8, 2017 | Inside US Trade] Commerce…
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CONTACT:Thomas M. SneeringerThe Committee to Support U.S. Trade Laws (CSUSTL)[email protected]202-999-9154www.csustl.us; @csustl IMMEDIATE RELEASE (Washington, DC, December 7) – The Committee to Support U.S. Trade Laws (CSUSTL) today applauded the decision by a World Trade Organization (WTO) dispute panel upholding determinations by the U.S. Department of Commerce and the International Trade Commission (ITC) which led to…
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An interagency group focused on the trade deficit has been added to the roster of Trade Policy Staff Committee subgroups tapped by the Office of the U.S. Trade Representative to analyze key issues and aid in formulating administration positions, according to a list generated in response to an Inside U.S. Trade Freedom of Information Act request. [Anshu…
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WASHINGTON — Record imports lifted the U.S. trade deficit to $48.7 billion in October, highest since January. [AP | December 5, 2017 | The New York Times] The Commerce Department said Tuesday that the trade gap rose 8.6 percent in October from $44.9 billion in September. Imports hit a record $244.6 billion in October, and…
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President Donald J. Trump may have tipped his hand on which way he is leaning on the solar tariff case with a virtually unnoticed appointment overnight. [FRANK ANDORKA | December 5, 2017 | PV Magazine] Late last night, Trump appointed three men to his Advisory Committee for Trade Policy and Negotiations, including Daniel DiMicco, former…
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Australia, concerned about rising Chinese influence, will ban foreign political donations as part of a crackdown aimed at preventing external interference in domestic politics, Prime Minister Malcolm Turnbull said on Tuesday. [December 5, 2017 | SCMP] Turnbull told reporters in Canberra that foreign powers were making “unprecedented and increasingly sophisticated attempts to influence the political…
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A stated goal of the Republican tax overhaul was to prevent corporations from shifting profits to low-tax countries. [November 30, 2017 | The New York Times] Several academic economists, legal scholars and the Coalition for a Prosperous America argued Wednesday that the Republican plan speeding its way through Congress does not sufficiently address this issue.…
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The United States has filed arguments to the World Trade Organization in a looming dispute over China’s future in the international body, which could shape the global trading system for decades to come. [ANA SWANSON | November 29, 2017 | The New York Times] Senior United States officials said on Wednesday that they had filed a brief to…
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A CPA member inquired as to whether in increase in the federal budget deficit causes increased trade deficits. This is called the Twin Deficits hypothesis. John R. Hansen, a CPA Advisory Board member and international economist, explains why there is little relationship between the two. Your paper states, “After 1998, the Federal deficit is being…
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