By Jeff Ferry, CPA Research Director A new CPA economic analysis estimates that for each $1 billion of additional imports into the U.S. costs the nation 4,552 jobs. On this basis, the rise in imports from 2009 to 2015 has meant the loss of over 3 million jobs. There has been much public discussion of…
WASHINGTON — President-elect Donald J. Trump on Tuesday named as his chief trade negotiator a Washington lawyer who has long advocated protectionist policies, the latest sign that Mr. Trump intends to fulfill his campaign promise to get tough with China, Mexico and other trading partners. [BINYAMIN APPELBAUM| January 3, 2017 |NY Times] Mr. Trump also…
Coalition for a Prosperous America CEO Michael Stumo, meanwhile, said Lighthizer is “an excellent choice” – adding that “he understands that international trade is a strategic game of conflicting national interests and a competition for good jobs and industries.” Key lawmakers, business community welcome Lighthizer pick, touting his experience on trade [Jenny Leonard| January 3,…
On Tuesday morning, President-elect Donald Trump nominated Robert Lighthizer to serve as the next U.S. Trade Representative. CPA supports the nomination and pledged to work with Mr. Lighthizer to improve US trade policy. “Ambassador Lighthizer is an excellent choice to replace Michael Froman as the US Trade Representative,” said Michael Stumo, CEO of CPA. “He…
Ford Motor Co. will scrap plans to build a $1.6 billion plant in Mexico, after coming under criticism by President-elect Donald Trump for shifting small-car production south of the border. [Keith Naughton| January 3, 2017 |Bloomberg] The next-generation Focus compact car will be built at an existing factory in Hermosillo, Mexico, and Ford will cancel plans…
NEW YORK — President-elect Donald Trump announced Tuesday he will nominate lawyer Robert Lighthizer as U.S. trade representative, picking an experienced trade official who has questioned the conservative movement’s commitment to free trade. [Associated Press| January 3, 2017 |NY Times] Lighthizer, who served as deputy USTR under President Ronald Reagan, would play a key role…
by Jeff Ferry President-elect Trump’s appointment of Peter Navarro to a new National Trade Council has alarmed some traditional economists. Professor Navarro, co-author of a book and film called “Death By China” really believes that the U.S. must do something to address its $500 billion trade deficit and that China, a country that has run…
[BINYAMIN APPELBAUM| December 21, 2016 |NY Times] WASHINGTON — President-elect Donald J. Trump on Wednesday named a strident China critic, Peter Navarro, to lead a new White House office overseeing American trade and industrial policy, in the latest sign that Mr. Trump is moving to reshape relations between the world’s two largest economies. Mr. Trump also said…
The Obama Administration and pro-free-trade hawks like Sen. Orrin Hatch continue to preach the virtues of free trade deals like the Trans-Pacific Pact even though both presidential candidates and US voters made it clear they don’t want “deals” that facilitate the loss of thousands of jobs. [Marc Fasteau and Jeff Ferry| December 09, 2016 |Huffington…
Balanced Trade: Key To US Economic RebirthBy Michael Stumo, President, and Jeff Ferry, Research Director, The United States has run a consistent deficit on our balance of trade for 40 years, a record for any major nation in the annals of modern record-keeping. A persistent trade deficit is a telltale sign that a nation is…