Members of the Coalition for a Prosperous America (CPA) flooded the halls of Capitol Hill last week, meeting with over 100 congressional offices. Our members urged support for policy that eliminates the trade deficit and demands smart tax reform while opposing dumb trade deals that have decimated our agriculture industry and have trampled on our…
The Department of Commerce wants public input on “the use of American-made materials” in any new and expanded U.S. pipelines as it assesses the domestic supply chain and other logistical issues related to the construction of pipe, according to a March 16 statement. [Isabelle Hoagland| March 16, 2017 |Inside US Trade] The request for public…
Jeff Ferry, Research Director, CPA The decision last month by microchip manufacturer GlobalFoundries to build a chipmaking plant in China reinforced fears in the U.S. technology industry over China’s ambitious plans to become a major player in the world semiconductor industry. While GlobalFoundries is a second-tier chipmaker and the technology destined for the China plant…
Sen. Debbie Stabenow (D-MI) this week suggested President Trump has not named China a currency manipulator because Beijing has successfully curried favor with the White House by granting 38 trademark applications to the Trump Organization. [Daily News| March 9, 2017 |Inside US Trade] The Associated Press reported on March 8 that China has preliminarily approved the…
One of the chief negotiators and public advocates for the Trans-Pacific Partnership (TPP) has been named as President Trump’s new special assistant on international trade, investment, and development for the National Economic Council. Andrew Quinn is a former deputy chief negotiator of the TPP who was named to the National Economic Council on Monday by…
The Census Bureau reports the U.S. deficit on trade with other countries rose in January to $48.5 billion, the highest level in five years. It is up 9.6 percent from December’s $44.3 billion, and 11.8 percent from January of 2016. [Dave Johnson| March 7, 2017 |Our Future] January exports rose $1.1 billion to $192.1 billion, while imports grew $5.3…
By Jeff Ferry, CPA Research Director The United States’ trade deficit surged 12% in January 2017 to hit $48.5 billion, its highest level in almost five years. The growth in our trade deficit reflects America’s failed trade policy, persistent mercantilist practices by some of our largest trading counterparties, and slower export growth. January’s trade deficit…
The Washington Post must think that U.S. trade policy is really awful. Why else would they continually lie to their readers and claim that the cause of the sharp job loss in manufacturing in recent years was automation? [Dean Baker| March 4, 2017 |Beat the Press] For fans of data rather than myths, the basic story is…
Americans desperately need simpler, fairer personal and corporate taxes. [Peter Morici| March 6, 2017 |Washington Post] The current system imposes terribly high rates and a myriad of special-interest credits and deductions. It requires expensive record keeping that drives taxpayers mad and complex auditing functions at the Internal Revenue Service that have proven susceptible to political abuse —…
By Michael Stumo, CEO Peter Navarro, Director of the White House National Trade Council, wrote a “trade policy manifesto” op-ed published in the Wall Street Journal this week focusing upon balanced trade. The new balanced trade policy is unwelcome on Wall Street and in some congressional leadership offices. But it is welcomed by workers, farmers,…