CPA Research

Currency Misalignment

The Threat of U.S. Dollar Overvaluation: How to Calculate True Exchange Rate Misalignment & How to Fix It

July 13, 2017

This memo explains (1) the dollar overvaluation problem, (2) how to accurately calculate the dollar’s misalignment against trading partner currencies, and (3) how the Market Access Charge (MAC) that CPA and others favor would fix this serious threat to America’s future.

by Michael Stumo (CEO)
Jeff Ferry (Research Director)
and John...

Civilian Drone Industry: USA Is Missing the Boat

July 10, 2017

By Jeff Ferry, CPA Research Director

At last month’s Paris Air Show, China showed off its latest military drone, an unmanned intelligent computer-controlled vehicle called the CH-5. 

Trade Agreements

It’s Time to Amend or Discard U.S.-Korean Trade Agreement

July 03, 2017

By Jeff Ferry, CPA Research Director

Press reports emerging on Monday, July 3rd, suggest that President Trump is pushing for a special 30-day review to amend the U.S.-South Korean trade deal known as KORUS. 

Administration Needs to Defend Our Steel Industry

June 26, 2017

By Jeff Ferry, CPA Research Director

This past April, on a 92-mile bike ride through the hills of Monterey, California, I met a young man I’m proud to call a friend, Rasheen Malone. 

Balanced Trade

Working Paper: Do Savings Rates Cause Trade Deficits?

June 21, 2017

By Michael Stumo, CEO of CPA, and Jeff Ferry, Research Director

Some influential economists misleadingly assert that US trade deficits are caused by American households failing to save enough and also by federal budget deficits. Taking action against strategic foreign economic policies, their story continues, would be futile....

Trade Enforcement

Feds Should Stop Chinese Acquisition of Sole U.S. Rare Earth Mine

June 16, 2017

By Jeff Ferry, CPA Research Director

 A U.S. bankruptcy court has decided to sell a California mine, the sole U.S. source of rare earth minerals, to a consortium including Chinese mining company Shenghe Rare Earth Shareholding Co. If the transaction goes ahead, this would turn over the unique domestic producer...

Trade Agreements

CPA Written Testimony: NAFTA Negotiations

June 12, 2017

The Office of US Trade Representative requested comments from interested parties regarding a June 27, 2017 hearing regarding NAFTA Renegotiations. This is CPA's official written testimony submitted in response.


The US needs to rethink trade agreements and unilateral trade policy options to better connect them with...

Trade Agreements

US Fruit & Vegetable Imports Skyrocket After Trade Agreements

June 07, 2017

By Jason Cooper (CPA Research Assistant), Jeff Ferry (CPA Research Director), Michael Stumo (CEO of CPA)


Trade in many fruit and vegetables has been disastrous for US agriculture and American farmers over the last two decades, following ratification of free trade agreements, notably those with Mexico (NAFTA),...

Trade Deficit Up, Employment Growth Weak in Latest Government Figures

June 02, 2017

By Jeff Ferry, CPA Research Director

 A strong rise in April’s trade deficit and lackluster growth in May employment figures underscore the challenges facing the Trump Administration as it tries to piece together an economic growth strategy. 

Tax Strategy

CPA Testimony: How Tax Reform Will Grow Our Economy and Create Jobs

May 23, 2017


The Coalition for a Prosperous America (CPA) appreciates the opportunity to provide testimony to the Committee on Ways and Means regarding the likely impact of tax reform on the US economy. CPA is a national,...

CPA Testimony: Omnibus Report on Significant Trade Deficits - CPA2017

May 23, 2017


The Coalition for a Prosperous America (CPA) appreciates the opportunity to provide testimony to the US Department of Commerce regarding the impact of significant bilateral deficits on the US economy. CPA is a national, non-partisan...

In Praise of William J. Baumol, Economist Who Identified Market Imperfections

May 17, 2017

By Jeff Ferry, CPA Research Director

On May 4th, Professor William J. Baumol died at the age of 95. He was a prodigious writer and innovator in economic theory, author of some 500 papers over the more than half a century he taught at Princeton University and NYU. 

Upcoming Commerce Department Hearings To Give New Impetus To Battle To Fix Trade

May 15, 2017

By Jeff Ferry, CPA Research Director

The Trump Administration’s views on some issues (think health care) has evolved over recent months. But on foreign trade, the Administration has consistently stuck to Donald Trump’s pre-election view that past trade deals have been a lousy deal for the U.S. worker and they...

Border-Adjustable Taxes, The Dollar and Alternatives

April 23, 2017

By Jeff Ferry, CPA Research Director, and Michael Stumo, CEO of CPA

The Republican business tax reform plan, also known as the House GOP Blueprint or the Ryan-Brady plan, features a type of border-adjustable tax (BAT). 

Don’t Believe What They Tell You About Foreign Investment

April 19, 2017

By Jeff Ferry, CPA Research Director

We often hear of state and federal officials chasing after foreign investment dollars, trying to bring money into the U.S. 

Trade Enforcement

Trump Administration Focuses on Trade Enforcement

April 13, 2017

By Jeff Ferry, CPA Research Director

The Trump Administration is getting tough with foreign nations that don’t play by the rules of free and fair trade. That’s the message we’re getting from Administration sources.

British Trade Boost Shows Currency Devaluation Works

April 06, 2017

By Jeff Ferry, CPA Research Director

Establishment free traders often claim trade policy reform is futile, urging us instead to simply trust the free market. Recent experience in Britain shows that one trade policy—currency devaluation—does work, and pretty quickly too. Despite imports growing more expensive, both consumption and exports increased.


Trump’s Executive Orders Will Help Manufacturing Revival

April 03, 2017

By Jeff Ferry, CPA Research Director

On Friday, President Trump announced two executive orders that look like the beginning of a major offensive on trade policy. “Today….I set the stage for a great revival of American manufacturing,” the President said in Friday’s White House briefing. 

Balanced Trade

Support House Resolution 37: Eliminate The U.S. Trade Deficit!

March 29, 2017

By Jeff Ferry, CPA Research Director

Two forward-thinking congressmen have introduced a congressional resolution urging the federal government to eliminate the U.S. trade deficit. This would be a major step forward in U.S. economic policy and a crucial step towards rebuilding the U.S. economy and restoring the American Dream of...

Trade Agreements

Aggressive Trump Trade Strategy Begins To Emerge

March 28, 2017

By Jeff Ferry, CPA Research Director

Two developments in recent days provide an early indication that the Trump Administration is determined to take a new approach to international trade.  And it looks like this new approach is aggressively focused on trade agreement reform and policies that could lead to higher U.S...