Last month the White House presented a 36-page outline of the U.S. position toward trade with China. White House National Trade Council and Office of Trade and Manufacturing Policy Director Peter Navarro delivers a presentation to discuss that report. Very well worth watching:
By Jason Cooper, CPA Research Assistant According to the latest US government report the US trade deficit in May was $43.1 billion, the smallest deficit since September of 2017. The smaller deficit was driven by a $3.7 billion increase in exports from April to May, with exports of $144.9 billion in May. Product categories showing…
by Michael Stumo, CEO of CPA I was asked, after the US Trade Representative announced tariffs on another $200 billion of Chinese goods, whether I would admit that we are now in a trade war. Members of the CPA board asked me to share my response more widely. Here it is. —- Dear Bob: China…
Zach Mottl, the owner of American manufacturing company Atlas Tool Works in Lyons, Illinois, is thanking President Trump for his recent tariffs on imported steel and aluminum. [John Binder | July 8, 2018 | Breitbart] In an interview with Fox Business, Mottl praised Trump’s tariffs on foreign countries and their imported steel and aluminum, saying the economic nationalist approach…
Editor’s note: China’s currency depreciation of 6% is a tariff on $130B of US exports to China (2017 trade numbers) and a subsidy of 6% on $506B goods exports to the US. Compare this to the 25% tariffs on only $50B of imports from China which the administration just put into effect. Their “aggregate tariff” is $7.8B ($130B…
Washington has been abuzz of late over President Trump’s moves to address continuing trade deficits with America’s global partners. And whether it’s tariffs on steel or high-tech goods from China, the battle has been seen as primarily a manufacturing issue. But there are compelling reasons to expect that the administration’s strong focus on trade policy…
The World Trade Organization has failed at its mission and needs to shape up for the United States to stay a part of it, said former Trump trade advisor Dan DiMicco. [Michelle Fox | July 5, 2018 | CNBC] “If the WTO can’t be any more effective than it has been the last 20 years … then…
By Jeff Ferry, CPA Research Director Some agricultural commodities have seen price declines in recent weeks due to uncertainty over international trade relationships. There is a worrying drop in spot corn[1]and soybean[2]prices now as the commodity markets react to the trade conflict between the US and China. In the long term, agricultural prices are determined…
Treasury Secretary Steven Mnuchin won a battle inside the Trump administration over trade policy this week after a series of setbacks as he tries to ease economic tensions with China. [Saleha Mohsin, Jennifer Jacobs, Jenny Leonard, Nick Wadhams | June 27, 2018 | Bloomberg] Most of President Donald Trump’s top advisers had decided by Monday to recommend he…
Washington- The Coalition for a Prosperous America (CPA) has endorsed the United States Foreign Investment Review Act of 2017 (S. 1983) cosponsored by Senators Sherrod Brown and Charles Grassley. The bill strengthens the review of incoming foreign investment based upon whether the long-term strategic economic interests are served by the transaction. Current law allows review…