Phase One China Deal: Steep Tariffs Are the New Normal
Even with the phase one deal in effect, Trump will have increased the average US tariff on imports from China to 19.3 percent from 3.0 percent in January 2018. The…
U.S. Factory Output Rebounds Even Without Post-GM Strike Bump
Production of motor vehicles and parts jumped 12.4%, the most in a decade; excluding that category, factory output rose 0.3%, the first gain in three months. Total industrial production, which…
GM Can’t Keep Up in China, Once Seen as the Promised Land
The claim: GM has struggled in China as a result of President Trump’s trade policies with China. The reality: GM’s eight-year reign as the top foreign automaker in China ended…
Why American steel stocks plummeted in the past year, despite tariffs
The tariffs encouraged American steel companies to increase investment beyond simply increasing capacity. The steelmakers argue they needed to make the investment to be competitive for the future. “We’re among…
Protectionist tariffs hamper U.S. growth: former U.S. trade representative
Former USTR Charlene Barshefsky says, “The United States imposed protectionist tariffs that…failed to invest in domestic infrastructure…” The reality: Nucor will spend more than $2 billion to add over 2.6…
The abiding, forever-relevant truth that Trump’s trade war exposed
According to the ideological prejudices of the present, built up over nearly four decades of globalization, free trade and deregulation represent the natural order of things. History, however, tells us…
Forgotten History: How American Presidents from Washington to Lincoln Agree with Trump on Trade
Andrew Jackson, in explaining his support for a tariff, wrote: “We have been too long subject to the policy of the British merchants. It is time we should become a…
The Trade Deal Is Good, but Tariffs Necessary, Says Coalition
“If China were subjected to a 25 percent across-the-board tariff, GDP would increase by $125 billion over five years, with 721,000 new jobs created,” it said. CPA’s CEO Michael Stumo…
British movie theater owner Cineworld is buying U.S. chain Regal for $3.6 billion
The acquisition would turn London-based Cineworld into the world’s No. 2 exhibitor behind industry giant AMC Entertainment, which is owned by China’s Dalian Wanda Group. In other words, the U.S….
Ford to add 3,000 jobs in the Detroit area, invest $1.45 billion on new trucks, SUVs, electric and autonomous vehicles
The company said Tuesday that about $750 million will go to the Michigan Assembly Plant in the Detroit suburb of Wayne, where 2,700 jobs will be added during the next…