Despite USMCA being the “gold standard” trade agreement, Mexican trade problems are increasing with the U.S. The Senate Finance Committee on Wednesday brought up the surge of Mexico steel imports into the United States, in breach of a 2019 joint statement. Some are calling for steel tariffs now. Mexico is preparing to retaliate. Sen. Sherrod…
USTR Katherine Tai sat for a two hours-plus hearing with the House Ways and Means Committee on Tuesday to discuss trade matters and was met early on by some staunch criticism.
While the month-over-month goods deficit with China fell by around $3.7 billion, the deficit with Mexico rose by $2 billion over the same period.
How can U.S. industry, small and large, compete against countries with much weaker currencies, lower labor and environmental regulatory costs, and the overproduction and dumping that come from Asia?
Mexico is fast becoming a new hub for China offshore investment and exports.
Despite the best efforts of Ambassador Tai and others, it’s time for our lawmakers and the administration to take punitive action and address Mexico’s blatant disregard of the trade agreement.
January 2024 posted a 5.4% gain in the monthly goods and services deficit, rising to $67.4 billion, the Bureau of Economic Analysis reported today.
There is growing bipartisan support for taking action, and CPA is proud to join with more than two dozen organizations representing thousands of voices that support closing the de minimis loophole.
The Coalition to Close the De Minimis Loophole launched today, representing thousands of voices, from the families of victims of fentanyl fatalities and nonprofit and nonpartisan organizations to labor unions, domestic law enforcement associations, domestic manufacturers, and business associations.
Last year, the U.S. imported more goods from Mexico than it did from China. It was a first. Although the trade deficit with China is still the biggest out of every country, and more than the trade deficit with Mexico and Canada combined, Mexican imports totaled $475.6 billion in 2023 versus China’s $427.2 billion.
