The Ivory Tower is Crumbling on Trade Theory

by Michael Stumo The American Economics Association is fretting the fact that their economic theories are no longer trusted. University education material is starting to include criticisms of and alternatives to old trade theory that is impervious to acknowledgement of glaring and persistent failures. On the second point, I just had a long interview with…

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China bars US credit cards too

Ushering in the New Year, President-elect Trump named Robert Lighthizer, a veteran trade negotiator and “harsh critic of China’s trade practices,” to be his lead trade negotiator. Trump’s trade rhetoric has been blood and thunder. He has threatened 45 percent retaliatory tariffs against China and other trade partners that are not living up to their…

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Democrats Press Trump on Trade

House Democrats, relegated to the chamber’s minority for a fourth consecutive Congress, are eyeing a drastic rewriting of the nation’s trade policies as a potential area in which they can wield relevance in President-elect Donald Trump’s new administration. [David Catanese| January 3, 2017 |US News] On the first day of the 115th Congress, a group…

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USTR Froman’s exit memo attempts to cast misguided failures as success

U.S. Trade Representative Michael Froman views the negotiation of the Trans-Pacific Partnership as a crowning trade achievement of the Obama administration despite the deal’s highly uncertain future, suggesting in an “exit memo” this week that the incoming Trump team use it to “shape” globalization. [Daily News| January 7, 2016 |Inside US Trade] Agreements like TPP…

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