May Trade Deficit Falls 7.3% to $68.9 Billion; China Deficit Drops 20%
The U.S. trade deficit remains on par to crack $1 trillion again. Meanwhile, a soft decoupling from China can be seen in the latest trade data.
The U.S. trade deficit remains on par to crack $1 trillion again. Meanwhile, a soft decoupling from China can be seen in the latest trade data.
Monthly index tracks currency misalignment based on latest market rates Dollar overvaluation rises to 14.8% against global currency basket from 14.3% last month Japanese yen undervaluation against U.S. dollar expands further to 45.7% Chinese yuan undervaluation against dollar rises to 25.0% CMM is a partnership between the Coalition for a Prosperous America (CPA) and the…
Economic models used to forecast the impact of international trade agreements have an in-built bias to favor free trade. This has led these models to underestimate repeatedly the damage done to U.S. manufacturing industry by trade agreements, dating back to NAFTA. The bias or rigidity in these models can be corrected by modifying some of…
Key Points The Section 301 tariffs imposed in 2018 on Chinese imports reduced U.S. dependence on China. While U.S. imports surged by 39% between 2017 and 2022, China imports were up very slightly, and still below their 2018 peak. As a result, China fell from 21.6% of U.S. imports in 2017 to just 16.5% in…
The China tariffs, enacted by Lighthizer under Trump, are under review later this year. Will they stay or will they go? Lighthizer thinks they should stay…with more tariffs added.
The House Select Committee on the CCP published a preliminary report on the use of forced labor in Shein and Temu supply chains. Many Americans are investors.
Don’t blame the China tariffs on inflation. Supply chain snafus were a much bigger deal, a Federal Reserve report says.
On June 1, 2023, the United States and Taiwan signed “the first agreement under the U.S.-Taiwan Initiative on 21st Century Trade.” “Initiative”? “21st Century Trade”? Sleepy terms that convey a classic “nothing-burger”. But that’s never been the case with trade agreements. This agreement, ostensibly for Taiwan, sets out expectations for how the U.S. and Taiwan…
At National Press Club, Katherine Tai talks about supply chain issues, what ‘de-risking’ from China might look like, and how USTR thinks about it.
The House and Senate join forces to remove China, others, from the duty-free ‘de minimis’ import rule.