The CPA is Washington’s leading organization fighting for a new trade policy to deliver balanced trade, restored health for American industries, broadly-shared economic growth, and more jobs for American workers.  Learn about the key trade issues impacting the US economy that must be solved. Research by CPA staff takes a deeper look at these issues and which policy changes can lead to dramatic improvement.

CPA Research

IBM Offshores to India and Business Still Shrinks

November 02, 2017
By Jeff Ferry, CPA Research Director Technology giant IBM reported its third quarter results on Oct. 17th, and extended a stunningly long losing streak with its 22nd consecutive quarter of declining sales.  

First Time Ever: US Trade Ambassador Stiff-Arms the Swamp

October 24, 2017
by Michael Stumo, CEO of CPA We have never seen this before. The US Trade Representative, Robert Lighthizer, is being brutally direct with free trade zombies in Congress and the multinational import lobby - i.e. the swamp - in charting a new pro-American direction on trade. Voters sought a change...

Trump Administration Rattles the North American Cage on NAFTA

October 23, 2017
By Jeff Ferry, CPA Research Director Three rounds of North American Free Trade Agreement (NAFTA) negotiations came and went without much fanfare. But the fourth round, 

Foreign Direct Investors will Love the Market Access Charge (MAC)

September 18, 2017
By John R. Hansen, CPA Advisory Board Would the MAC discourage foreign direct investment in the United States?  Some readers have suggested that capital being brought into the United States to finance greenfield foreign direct investment should be exempted from the MAC. We should not, they argue, do anything to discourage productivity...

Why the Market Access Charge is Necessary to Fix Trade Imbalances

September 08, 2017
By John R. Hansen, CPA Advisory Board This note describes how a Market Access Charge (MAC) can fix US dollar overvaluation, what the MAC is, and how it would put US workers and factories back on the job. 

“Bring Me Some Tariffs” New Trade Policies Offer Growth Boost—and Scare Economic Traditionalists

August 31, 2017
By Jeff Ferry, CPA Research Director As President Trump talks more openly about aggressive action on the trade front to support the US economy, traditional economists and commentators, especially many on Wall Street, are raising the volume on a scare campaign, aimed at suggesting all sorts of imaginary negative consequences. ...
Trade Agreements

NAFTA Withdrawal Unlikely to Cause US Consumer Harm

August 29, 2017
By Michael Stumo, CEO of CPA, and Jeff Ferry, CPA Research Director President Trump raised the possibility of withdrawing from the North American Free Trade Agreement last week in an Arizona speech. “Personally, I don't think we can make a deal ... I think we'll end up probably terminating NAFTA...
Trade Agreements

Why Economists Can’t Connect Free Trade and Low Prices to Economic Growth

August 25, 2017
By Jeff Ferry, CPA Research Director Economists in the US are overwhelmingly in favor of free trade. But they continue to be frustrated that the public doesn’t buy their arguments. 
Trade Enforcement

High Tech Anxiety: Made in China 2025 Worries Industry

August 17, 2017
By Jeff Ferry, CPA Research Director  The Trump administration’s rumored Section 301 investigation of Chinese trade practices opens up a new front in the ongoing “trade wars” with China, this time over intellectual property. A key event driving concern over Chinese use or abuse of foreign intellectual property was China’s...
Balanced Trade

US Trade Deficit Up 10% Over 2016, On Track for $550B This Year

August 07, 2017
By Jeff Ferry, CPA Research Director  New trade figures from the Department of Commerce show the US international trade picture continues to deteriorate. 
Trade Enforcement

Buy America Movement Gathers Force

July 24, 2017
By Jeff Ferry, CPA Research Director President Trump’s “Buy American week” was largely a feel-good event, but behind the scenes there is growing nationwide support in the political and business worlds for more US spending to go on American-made goods and services. 

Steel: Famous Economists Get It Wrong

July 13, 2017
By Jeff Ferry, CPA Research Director When a large number of famous economists from all sides of the political spectrum agree on something, the odds are that it is wrong. A new letter on the subject of steel tariffs is a good example of that rule. 
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 R. Hansen...

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. This paper...
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. Summary The US needs to rethink trade agreements and unilateral trade policy options to better connect them with improved trade performance...
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) Introduction 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), Central America...