GM, Ford, Verizon Were Among Offshoring Leaders in 2019
By Jeff Ferry, CPA Chief Economist
CPA conducted an analysis of government data revealing that General Motors, Ford, and Verizon were some of the leaders in offshoring US jobs in 2019.
Aluminum Tariffs Re-Imposed After Canada Breaches USMCA Commitment
By Jeff Ferry, CPA Chief Economist
Last week the Trump administration re-imposed aluminum tariffs on imports of Canadian aluminum to stem the Canadian surge which violated Ottawa’s USMCA promise to avoid increased imports.
June Trade Deficit Falls Slightly In Pandemic, Stands At $50.7 Billion
By Ken Rapoza, CPA Industry Analyst
The pandemic has curtailed exports and imports and today’s trade numbers showed a slight decline in the trade deficit. The June deficit came in at $50.7 billion, 7.5 percent better than the $54.8 billion deficit in May, based on the Bureau of Economic Analysis...
Don’t Let China Take Over the U.S. Solar Industry
Though it has not been covered by the mainstream media, one of the major success stories of the Trump Administration can be found in U.S. solar manufacturing. Over the past three years American solar manufacturing capacity has increased nearly ten-fold, with factories opening and expanding in nearly a dozen...
US Trade Deficit Deepened to $54.6 Billion in May As COVID Impacted Trade
By Jeff Ferry, Chief Economist
The monthly US trade deficit climbed to $54.6 billion in May as the COVID crisis dented exports more than imports.
US and UK Should Partner on a “Multiplier” Fund to Back 5G Startups
By Jeff Ferry, CPA Chief Economist
The United Kingdom is close to pulling out of its previous compromise solution for 5G telecom, which involved keeping Huawei at the so-called “edge” of British wireless networks.
America’s Trade Deficits
Editors note: Ken Austin, a former treasury official, explains the intricacies of capital flows, exchange rates, and the trade deficit.
Blame U.S. Policies – Starting With Tax Laws
Coronavirus Crisis Drives Collapse in April Trade, Deficit Worsens to $49 Billion
By Steven L. Byers, PhD and Jeff Ferry
The coronavirus disrupted international trade and led to a collapse in US trade volume which makes it difficult or impossible to draw conclusions about underlying trends.
Is China Even Trying to Fulfill its Phase One Commitments?
Beijing buys Brazilian soy and homegrown polysilicon rather than US
By Jeff Ferry, CPA Chief Economist
It is starting to look like China is unlikely to fulfill the terms of the so-called Phase One agreement on purchases of US goods and services.
5G Wireless: Pallone-Walden Bill Is a Good Start But We Need A More Aggressive Strategy
By Jeff Ferry, CPA Chief Economist
Despite the COVID-19 crisis, Chinese technology company Huawei is having a good spring.
Tax Avoiders Should Not Get Bailout Money
Editor's Note: David Morse is the tax policy director at the Coalition for a Prosperous America Education Fund.
Right now, Washington is preoccupied with efforts to support struggling U.S. businesses during the COVID-19 pandemic. Surprisingly, some companies that use tax havens to avoid paying U.S. taxes are trying to get their...
March Trade Volume Collapses as US Deficit with China Hits New Low
Overall Deficit Rises 12% Due to EU, Mexico, & Canada
By Steven L. Byers, PhD and Jeff Ferry
As the US went into a self-imposed quarantine, US trade volume collapsed, with exports down 11 percent from a year ago and imports down 12 percent.
Expect More and Get Way More than Expected: Buy American
Editor's Note: Greg Owens, owner Co-Founder & CEO, Sherrill Manufacturing/Liberty Tabletop, is the Co-Chair of CPA's Buy American committee.
SHERRILL, N.Y. – Many of us have a renewed sense of purpose in our purchasing and are making conscious decisions to seek out and buy American made products. We all know this...
Videoconference with Zoom—and Invite Some Chinese Spies to Your Next Meeting
By Jeff Ferry, CPA Chief Economist
Millions of people stuck at home are now using the Zoom videoconferencing application. Zoom claims 300 million daily users. But how many of those 300 million know that Zoom is a product that is made in China?
Main Street Lending program
CPA is working to keep you up to date on the CARES Act lending programs. Here is additional information that may help your business regarding the new Main Street Lending program and the previously announced Paycheck Protection Program (PPP).
The PPP is the most popular lending program because the...
International View: Japan, France Preparing to Move Supply Chains Out of China
By Jeff Ferry, CPA Chief Economist
According to rumors circulating in Paris, French president Emmanuel Macron recently had a phone call with Chinese president Xi Jinping in which the Frenchman asked for an emergency shipment of a billion face masks to cope with the COVID crisis. The Chinese president is...
Made in America 2030: A Smart Infrastructure and Industrial Strategy Can Make Post-COVID America Stronger
By Jeff Ferry, CPA Chief Economist
Abstract
As we emerge from the current lockdown and economic freeze, the US economy will need a substantial boost.
Paycheck protection program update for CPA members
This is an update on the Paycheck Protection Program which is part of the Small Business Interruption Loan Program within the recently passed CARES Act.
CPA members with 500 or less employees can start applying as of last Friday, April 3. You can start applying through your local bank.
Trade in the Time of Coronavirus – China Trade Deficit Hits 14-Year Low
By Steven L. Byers, PhD and Jeff Ferry
US trade with China was drastically disrupted in February in the wake of the coronavirus pandemic.
What does COVID stimulus bill - CARES Act - do for small CPA member companies?
By David Morse, Tax Policy Director
The president just signed the CARES Act after a week of negotiations in the Senate, and a Congressional kerfuffle that required an emergency recall of House members to the Capitol. Newspapers have spent much ink on individual check expectations and considerable corporate...