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.
Inflation Undershoots Again in May —Tariff Effect Nowhere To Be Seen
By Jeff Ferry, CPA Chief Economist
This morning the Bureau of Labor Statistics (BLS) published the May consumer price index, and once again inflation has undershot Wall Street expectations.
US Trade Deficit with China Increases in April
By Steven L. Byers, PhD, CPA Senior Economist
The US international trade deficit in goods and services for April 2019 declined slightly to $50.8 billion, down $1.1 billion from $51.9 billion (revised) in March. US goods exports fell $4.4 billion, and services declined by $185 million. US...
Tax Changes May be Afoot for Multinational Entities
By David Morse, Tax Policy Associate Director
Law 360 reported this week that US Treasury officials believe multinational companies should anticipate new formulas as a part of future taxation. This is good news for companies producing in America who are tired of paying higher tax rates than many...
CPA Briefing Paper: Why Economic Forecasts of the Effects of Trade Action Are Consistently Wrong
Jeff Ferry, Chief Economist
Steven Byers Ph.D., Senior Economist
June 2019
This Briefing Paper looks at the shortcomings of economic models of trade action, their causes, and modifications to improve the accuracy of these forecasting models.
CPA Study Shows Across-the-Board China Tariff Would Boost US Economy, Create Thousands of Jobs
By Jeff Ferry and Steven L. Byers, PhD
Economic modeling results from the Coalition for a Prosperous America (CPA) show that an across-the-board 25% tariff on all China imports would deliver a significant, sustained boost to the US economy, including the addition of $125 billion to GDP in 2024 and...