America is Rediscovering its Recipe for Economic Success
The “American System” devised by Henry Clay in 1812 followed Alexander Hamilton’s 1791 economic plan. Both favored tariffs, subsidies, and infrastructure development. Beijing has used the American System over the…
GOP shift from free trade is irreversible, Trump Trade Representative Lighthizer says
“We changed the objective of trade policy away from price optimization and corporate profits and more towards jobs and workers and families,” he said. Lighthizer said that while there are…
Pro-Growth Tariffs: Modified Economic Model Shows Domestic Growth
Economic models used to forecast the impact of international trade agreements have an in-built bias to favor free trade. This has led these models to underestimate repeatedly the damage done…
China’s momentum to surpass the US as the world’s biggest economy may be thwarted by current dynamics.
“A few years ago, it was difficult to imagine China not rapidly overtaking the US as the world’s biggest economy,” said Tom Orlik, chief economist for Bloomberg Economics. “Now, that…
Lighthizer: Raise Tariffs on Everything Made in China
“I propose doing this clearly and phasing it in over time to minimize disruptions and allow for businesses to change their current practices,” Lighthizer wrote in his new book, released…
Section 301 Tariffs Reduced U.S. Dependence on China, Decoupling Has Begun
The Section 301 tariffs imposed in 2018 on Chinese imports reduced U.S. dependence on China. While U.S. imports surged by 39% between 2017 and 2022, China imports were up very…
On the shelf: Lighthizer’s book offers inside info on Trump-era trade relations
Former U.S. Trade Representative Robert Lighthizer, in his new book “No Trade is Free,” includes a raft of observations about foreign trading partners and counterparts he dealt with during his…
Chinese e-commerce exporters ready to face potential end of US’ ‘de minimis’ package rule
The US is considering to end current tariff exemptions for packages valued under $800, which is seen as a move to crack down on the large amount of goods imported…
Supply Chain Crisis, Not Tariffs, Stoked Inflation
Inflation wasn’t pushed higher by China tariffs imposed in 2018. It was caused by record-breaking government spending during the pandemic, and supply chain snafus. The supply chain woes that began…
Protectionism: trade restrictions reach an all-time high
During the Covid-19 pandemic, many countries restricted exports of medical goods like vaccines and foodstuffs. More recently, Russia’s war in Ukraine and competition between the US and its allies with…