Passionate defenders of the “global rules-based trading system” should be wary of thinking their views are more informed than President Trump’s. He has been branded a protectionist and thus many conclude he is incapable of exercising world leadership. Meanwhile, those who embrace the virtues of global free trade disregard the fact that the “rules” are…
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WASHINGTON—The White House is exploring a new tactic to discourage China from undervaluing its currency to boost exports, part of an evolving Trump administration strategy to challenge the practices of the U.S.’s largest trading partner while stepping back from direct confrontation. [Bob Davis| February 13, 2017 |Wall Street Journal] Under the plan, the commerce secretary…
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By Jeff Ferry, CPA Research Director The fear is growing that a rising dollar could sabotage any effort by the Trump Administration to improve the U.S. trade balance as a means of improving the health of our manufacturing industry. Commentators have suggested that the prospect of rising interest rates and higher U.S. economic growth, combined…
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The U.S. needs better trade deals and if that means walking away from the World Trade Organization to make that happen, President Donald Trump may do just that, a former Trump trade advisor told CNBC on Friday. [Michelle Fox| February 10, 2017 |CNBC] Dan DiMicco, former president and CEO of Nucor, said China has not lived up…
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by Michael Stumo The House GOP Tax Reform plan is very bold and includes some very helpful conceptual shifts. But it has some very strange results too. Let’s take a look at how it matches up against CPA’s preferred tax reform for trade competitiveness. Speaker Paul Ryan and Chairman Kevin Brady (Ways and Means Committee)…
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The mooted GOP tax plan has drawn some positive attention from trade reformers because it’s the first tax plan in decades to make serious moves designed to reduce America’s trade deficit. [Ian Fletcher| February 12, 2017 |Huffington Post] Unfortunately, unless I’m totally missing something, it’s also a seriously crazy document. So crazy, in fact, that despite not being an…
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At National Farmers’ Convention 2017 recently, Brian O’Shaughnessy, co-chairman of the Coalition for a Prosperous America and chairman of Revere Copper Products, talked trade, value-added tax and mercantilism to organization members in Springfield, Missouri. [February 11, 2017 |Midwest Ad Journal] “Since 2000, more than 30 percent of the manufacturing facilities Revere ships products to domestically…
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The House GOP’s border adjustability plan to rebate taxes on exports but not allow deductions for imports — a proposal staunchly opposed by retailers and other industries that have formed a coalition to fight the plan — could garner sufficient support on Capitol Hill and among the business community if transition periods and “phase-ins” for…
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SAN FRANCISCO — Intel, the world’s largest computer chip manufacturer, will invest $7 billion to finish a factory in Arizona, adding 3,000 jobs, the company’s chief executive said on Wednesday after meeting with President Trump at the White House. [VINDU GOEL| February 8, 2017 |The New York Times] The completion of the factory, which will complement two other…
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Whether President Trump’s trade policy can deliver on his stated goals of reducing the U.S. trade deficit and creating American jobs remains to be seen. Whether he can build congressional support for his trade agenda is also uncertain. [Lori Wallach| January 31, 2017 |The Hill] Many congressional Republicans support the status quo. Many congressional Democrats…
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