New Biden-Mexico Steel Agreement will only affect about 16% of imports from Mexico, based on CPA’s analysis (the White House estimates it will only affect just 13% of imports).
The United States-Mexico-Canada (USMCA) Free Trade Agreement is fast becoming a free trade agreement for the world, whereas any multinational with a presence in Mexico can set up shop and make the U.S. its number one target. China is doing that now.
Today’s announcement on actions to address Mexico steel surge shows that White House foreign policy bureaucrats that negotiated this deal care more about Mexico than about American workers.
President Joe Biden hosts a bilateral meeting with President Andres Manuel Lopez Obrador of Mexico, Friday, November 17, 2023, at the Moscone Convention Center in San Francisco. (Official White House Photo by Adam Schultz)
The goods and services deficit for May rose a tad to $75 billion, up 0.8% from the previous month.
Domestic content rules and mandates have worked for China. Should the U.S. try to copy it, in spots, along key supply chains like new energy and semiconductors?
Trump has a new idea about the economy. The usual suspects hate it. On June 13, Trump said he’d consider a 10 percent tariff on imports and use the revenue to reduce some income taxes.
The CEO of American drone maker Skydio told the House Select Committee on the Chinese Communist Party in a hearing last week (June 26) that tariffs were a much-needed tool if the U.S. wants any semblance of a domestic drone industry.
The quarterly CPA Monitor tracks currency misalignment based on latest monthly exchange rates. Dollar overvaluation worsened to 16.9%, as hope of U.S. interest rate cuts
CPA sent a letter to the Treasury Department on Thursday asking Secretary Janet Yellen to take immediate action to prevent Russian and Iranian steel products from entering the U.S.
