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...
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.
Top 5 Tax Proposals by Democratic Candidates...and How They Affect Domestic Companies
Among the various Democratic presidential contenders, there are a number of proposals for corporate tax reform. After reviewing all the candidates’ plans, we’ve identified the ‘Top 5 Democratic Tax Reform Proposals.’
By David Morse, Tax Policy Director
US Should Reject Tax Loopholes that China Favors
By David Morse, Tax Policy Director
The US and domestic companies should be alarmed by China’s desire to preserve corporate tax avoidance strategies in the world. Many countries have had enough of corporate tax avoidance, and the Organization for Economic Cooperation and Development (OECD) is currently considering solutions...
US Trade Deficit Leaps to $55.5B in May, But China Deficit Down in 2019
By Jeff Ferry, CPA Chief Economist
The US trade deficit jumped 8.4 percent in May, to $55.5 billion, as compared to April’s $51.2 billion, according to data published today by the Department of Commerce. On a year-on-year basis, the jump was even larger, up 25.2 percent over the May...
Report to CPA Members: CPA Testifies on Section 301 China Tariffs
Editor’s note: CPA’s Chief Economist Jeff Ferry testified on Friday June 21st at the International Trade Commission in support of expanding Section 301 tariffs against China. This is CPA’s written testimony.
On June 21st, at the US International Trade Commission headquarters, I testified on behalf of CPA in favor of...
We Need An American Alternative to Huawei
By Jeff Ferry, Chief Economist
President Trump’s decision over the weekend to allow US component and chip companies to sell to Chinese network builder Huawei was a questionable decision.
Comments on Proposed Modification of Regulations Regarding Benefit and Specificity in Countervailing Duty Proceedings
Editor’s note: CPA submitted the following comments supporting a recent Department of Commerce proposal to classify currency manipulation as a countervailable subsidy under US trade laws. CPA has long supported legislation on this topic, but now Commerce intends to achieve this end through regulation.
Modification of Regulations Regarding Benefit...
Republican Marco Rubio Says the US Needs To Look Beyond Shareholder Value For Economic Success. He’s Right.
By Jeff Ferry, CPA Chief Economist
Last month, Sen. Marco Rubio (R-FL) published one of the most enlightening and surprising reports from a member of Congress in a long while.