Washington~ The Coalition for a Prosperous America (CPA) released a paper today with an improved methodology for calculating exchange rate misalignment and its connection to the US trade deficit, stagnation in wages and living standards, and slower economic growth. Authors Michael Stumo, Jeff Ferry and John R. Hansen (former World Bank economist) also discuss an…
Originally published in Huffington Post At last month’s Paris Air Show, China showed off its latest military drone, an unmanned intelligent computer-controlled vehicle called the CH-5. By Jeff Ferry, CPA Research Director Military experts were impressed. The CH-5 has a range of 20,000 kilometers (12,000 miles), and can stay aloft for up to 50 hours.…
This memo explains (1) the dollar overvaluation problem, (2) how to accurately calculate the dollar’s misalignment against trading partner currencies, and (3) how the Market Access Charge (MAC) that CPA and others favor would fix this serious threat to America’s future. by Michael Stumo (CEO)Jeff Ferry (Research Director)and John R. Hansen (Advisory Board) The foreign exchange…
By Jeff Ferry, CPA Research Director When a large number of famous economists from all sides of the political spectrum agree on something, the odds are that it is wrong. A new letter on the subject of steel tariffs is a good example of that rule. In a public letter dated Wednesday July 12th, economists…
Subsidized Chinese aluminum production has soared in recent years. The Trump administration has its eyes firmly on the prize when it comes to the U.S. Commerce Department’s Section 232 investigation into the national security implications of America’s steel import levels. [MATTHEW MCMULLAN| July 11, 2017 |Alliance for American Manufacturing] Yeah man. Their eyes are trained squarely on the…
President Trump has nominated Dennis Shea, the vice chairman of the U.S.-China Economic and Security Review Commission, to serve as ambassador to the World Trade Organization. [Dan Dupont| July 11, 2017 |Inside US Trade] Shea, who has served on the commission since 2007, and as chairman or vice chairman since 2012, is an attorney “with more…
BEIJING — China’s sovereign wealth fund is looking at big bets in America. But the $800 billion investment behemoth said on Tuesday it faced an obstacle: the United States government. [SUI-LEE WEE| July 11, 2017 |The New York Times] The fund, the China Investment Corporation, urged American authorities to allow better access to the market, at a time when…
Unifor and United Autoworkers, representing Canadian and U.S. autoworkers, have laid out four priorities the unions say must be addressed in the renegotiation of NAFTA: strengthening labor standards and boosting wages; balanced trade; “real ‘made in North America’ rules”; and benefits for workers being fairly shared in all three NAFTA countries. [Jack Caporal| July 11, 2017…
By Michael Stumo Former White House CEA and NEC chairs again reveal why our economy declined and stagnated under their collective watches. They worry about speculative diplomatic repercussions from dealing with overcapacity and national security issues as the US considers neutralizing the problem. Not a word from these Very Smart People about other countries who should, perhaps,…
Call it international trade’s (re)work in progress, following the G20 meeting, which produced: [Daily News| July 11, 2017 |Inside US Trade] A united front on overcapacity issues, with an emphasis on steel – and some target deadlines for OECD recommendations on “concrete policy solutions that reduce steel excess capacity.” A flurry of comments from President Trump,…