At Davos Chinese President Xi extolled the virtues of globalism. Lo barely one week into President Trump’s administration, Chinese financial-services and payments colossus Ant Financial is buying MoneyGram, America’s second-largest money-transfer network. It underscores however that while the U.S. is wide-open for China’s payments dragons, notwithstanding its 2001 WTO commitment to completely open its domestic…
Following President Trump’s announcement that he wants to speed up the statutory guidelines for a renegotiation of the North American Free Trade Agreement, House Ways & Means Committee Chairman Kevin Brady (R-TX) and ranking member Richard Neal (D-MA) downplayed the idea while expressing confidence that the administration’s trade team will adhere to the rules laid…
Wilbur Ross, President Trump’s pick for Commerce secretary, will lead accelerated talks with Mexico and Canada on renegotiating the North American Free Trade Agreement, Trump said today. [Daily News| February 2, 2017 |Inside US Trade] Meeting with the leaders of the House Ways & Means and Senate Finance committee at the White House and flanked…
Senate Finance Committee Chairman Orrin Hatch (R-UT) told business leaders Feb. 1 that he will not take a position on the House GOP’s border adjustability proposal for tax reform before he knows how the provision would affect U.S. consumers and whether it would be consistent with U.S. trade obligations. [Daily News| February 1, 2017 |Inside…
Navarro wants more components made in America to spur domestic jobs and wages [Shawn Donnan| January 30, 2017 |Financial Times] Donald Trump won the presidency on the back of promises to shake up Washington. But according to his advisers he is also setting out to shake up the structure of international business and the global economy.…
The House GOP’s plan to implement a border adjustable tax to even out the United States’ trade deficit will take center stage this week as Republican leaders are expected to meet with President Trump to discuss trade, and experts from different perspectives will discuss the implications of the possible shift in U.S. tax policy at…
President Trump can’t simply bully large corporations to deliver prosperity for the millions who elected him. [Peter Morici| January 31, 2017 |Washington Times] Although the succession of recently announced deals to keep or create jobs in America is impressive — United Technologies, Fiat Chrysler and others have jumped on board — the challenge of boosting…
House Speaker Paul Ryan (R-WI) and Ways & Means Committee member Rep. David Nunes (R-CA) last week voiced their support for President Trump’s intent to use the GOP tax plan’s border adjustment provision to collect revenue from countries with which the U.S. has a trade deficit, but clarified that while Trump has singled out Mexico…
(Washington, DC) — President Trump announced today that as part of his overall job creation agenda he will launch a Manufacturing Jobs Initiative. The White HouseOffice of the Press Secretary The President will be meeting with some of the world’s most successful and creative business leaders to share their experiences and gain their insights. President Trump plans…
The White House appeared to take a further step toward embracing the border-adjustable tax plan on Friday when Peter Navarro, director of the White House’s new National Trade Council, told CNBC there was “no question that we need a border-adjustable tax of some kind.” The tax would have to be flexible, he said without providing details, but added: “Paul…
