US October Trade Deficit Reaches 18-Month Low
Trade deficit with China continues to decline
By Steven L. Byers, PhD, CPA Senior Economist
The US international trade deficit in goods and services fell 7.6 percent in October, to $47.2 billion, as imports declined more than exports.
OECD Corporate Tax Compromise Savaged By Multinationals in Public Meetings
By Jeff Ferry, CPA Chief Economist
For the past year, tempers and words have been heating up in an international war over corporate taxation. France raised the heat in the battle last year, when it announced it would levy a tax on the corporate profits of a small number of...
America’s Kitchen Cabinet Makers Support Tariffs on China Imports
Paul Wellborn is the president of the largest family-owned cabinet manufacturing company in the United States. And as he sees it, the Trump Administration’s China tariffs are working.
CPA submits opinion to OECD Tax Committee
The Organization for Economic Cooperation and Development (OECD) has proposed significant changes to the global tax system to combat profit shifting. The Coalition for a Prosperous America supports a much simpler, better, and fairer solution: Sales Factor Apportionment. The following submission was sent to the OECD on November 11th, 2019...
Steel Tariffs Are Driving US Economic Growth
By Jeff Ferry, CPA Chief Economist
On October 25th, America’s largest steelmaker Nucor opened a new steel mill in Hickman, Arkansas.
Making America Competitive Again, The Bipartisan Baldwin-Hawley Bill
By John R. Hansen, CPA Advisory Board
Executive Summary
America's trade deficits, which are caused primarily by America's overvalued dollar, are eroding the American Dream of sustainably growing and equitably shared prosperity for all. By making American goods too expensive to compete with foreign goods in domestic and export markets,...
US September Trade Deficit Falls as US-China Deficit Continues to Shrink
By Steven L. Byers, PhD, CPA Senior Economist
The US trade deficit in goods and services for September 2019 fell 4.7 percent or $2.6 billion, to $52.5 billion, as imports declined more than exports.
OECD Proposal Fails to Help Domestic US Manufacturers
Many in Washington look at the Organization for Economic Cooperation and Development (OECD) in Paris to help with pressing business concerns in the global community. And recently, the OECD promised to tackle cumbersome issues related to international corporate taxation. Unfortunately, it appears that the OECD isn’t positioned to provide...
US Trade Deficit with EU Triples in 10 Years
By Jeff Ferry and Steven Byers
The US goods deficit with the European Union (EU) is on track to triple in a decade.
US Trade Deficit Increases Slightly in August
Overall trade deficit on track to exceed 2018 total, but China deficit narrowing
By Steven L. Byers, PhD, CPA Senior Economist
The US trade deficit in goods and services increased by 1.6 percent in August, to $54.9 billion, up $0.9 billion from...
Top 3 Tax Proposals by Democratic Candidates...and How They Affect Domestic Companies
After an initial review of the various 2020 Democratic presidential contenders’ tax proposals, the CPA tax committee noted a lack of progress on corporate tax reform. Committee members subsequently voted on the remaining corporate tax proposals.
By David Morse, Tax Policy Director
Apple Staying in Texas Due to US Tariff and Industrial Strategy
By Jeff Ferry, CPA Chief Economist
On Sept. 23rd, Apple announced that its Mac Pro computer will continue to be manufactured in Texas, rather than China, Taiwan, or southeast Asia, as the company was previously planning. The Mac Pro is currently the only Apple product assembled in the United...
US Trade Deficit Shrinks in July
Goods deficit with China declines 10% from last year
By Steven L. Byers, PhD, CPA Senior Economist
The US trade deficit in goods and services for July 2019 decreased by 2.7 percent, to $54.0 billion, down $0.2 billion from $55.5 billion (revised) in June.
Why We Need Baldwin-Hawley Currency Reform Now
By Jeff Ferry, CPA Chief Economist
In his recent article, How Not to Restore American Industry, commentator David P. Goldman criticizes the Baldwin-Hawley bill, also known as the Competitive Dollar for Jobs and Prosperity Act, which was introduced into the Senate earlier this month. The bill would provide the...
Regulating Capital Inflows To Realign The Dollar Exchange Rate
By Steven L. Byers, PhD
U.S. Senators Tammy Baldwin (D-WI) and Josh Hawley (R-MO) recently introduced a bipartisan bill (Senate Bill S.2357) to realign the US dollar exchange rate to make U.S. exports more competitive, boost American manufacturers and farmers, and reduce our trade deficit. The Competitive Dollar for Jobs...
Working Paper: Manufacturing Jobs and Income Decline
After the year 2000, US manufacturing employment experienced a rapid, unprecedented decline with the loss of some six million manufacturing jobs. Many commentators have described this as a normal, even healthy evolution, with workers allegedly moving into “jobs of the future” in the service sector.
By...
Clinton USTR official, Jennifer Hillman, is Still Wrong on China
By Michael Stumo
Jennifer Hillman, a former Clinton trade official, recently wrote a misleading opinion article in the New York Times entitled “How to Stop Trump’s Trade War Madness.” Not only did Hillman work in the Clinton’s Office of the US Trade Representative, but she was...
It's Time to Rethink our Close Economic Relationship with the Totalitarian State of China
By David J. Lynn, Ph.D.
China has become increasingly integrated into America's economy with a wide range of industrial and consumer goods being imported from China including electronics, clothing, furniture, drugs, food products, machinery and many high-technology components that are essential for our national defense. In fact, in the US, it...
June Report Shows Little Change in US Trade Deficit
By Steven L. Byers, PhD, CPA Senior Economist
The US trade deficit in goods and services for June 2019 decreased by 0.3 percent, to $55.2 billion, down $0.2 billion from $55.3 billion (revised) in May. The decrease is due to a decline in the goods deficit of $0.8 billion along...
Tide of Multinationals Leaving China Turns Into a Flood
By Jeff Ferry, CPA Chief Economist
It took 20 years for China to disrupt global supply chains and build up the world’s largest manufacturing base. In the process they decimated US manufacturing sectors like computers, telecommunications, and furniture.