The long-time critics of globalization who warned us that it would end badly are having a told-you-so moment. Porous borders, free trade, and thinly stretched supply chains would make the world more fragile, they cried, leaving countries dangerously vulnerable to disruptions and shocks. It took a protectionist US president, a global pandemic, and a new … Read More
In 1791, Hamilton issued his Report on Manufacturers and a prime point he made was the importance of national self-sufficiency. As Hamilton argued: “Not only the wealth; but the independence and security of a Country, appear to be materially connected with the prosperity of manufactures. Read the article.
Reliance on Asia for microelectronics, or semiconductors, is increasingly seen as a big problem for the Department of Defense (DoD). While the U.S. designs chips, they are mostly all offshored to be made in Asia, led by Taiwan and South Korea. Read the article.
Orders placed with U.S. factories for durable goods rose in March, pointing to sustained investment in business equipment that is helping drive economic growth. Read the article.
61% of voters believe that increased imports have made the United States dependent on China for goods that are critical to the US economy and US national security. 60% of voters are opposed to China continuing to receive trade status as the most favored nation with the United States, giving the country a tariff of … Read More
Republicans in both chambers are backing trade language in the Senate’s China competition bill that would roll back some of the tariffs — instead of a more protectionist proposal from House Democrats. Republicans are balking at the protectionist trade provisions included in House legislation to help the U.S. economy compete with China, which passed the … Read More
The Coalition for a Prosperous America today called on the Federal Retirement Thrift Investment Board to abandon reported plans that it is poised once again to start investing the retirement funds of participants in the Thrift Savings Plan in companies owned or controlled by the Chinese Communist Party (CCP). Read the article.
“History has proved time and again that confrontation does not solve problems, it only invites catastrophic consequences. Protectionism and unilateralism can protect no one, they ultimately hurt the interests of others as well as one’s own. Read the article.
Trade remedies helped U.S. manufacturers survive being swamped by Asian overcapacity, protected domestic labor markets, and never led to the devastation and disruption the opposition warned about if imports were curtailed. Solar and steel are two cases in point and are the most well-known. Kitchen cabinets are another sector that’s expanded due to trade remedies. … Read More
President Joe Biden’s administration dashed hopes for a softer approach to the World Trade Organization by pursuing a pair of his predecessor’s strategies that critics say risk undermining the international trading system. The U.S. delegation to the WTO, in a statement Monday obtained by Bloomberg, backed the Trump administration’s decision to label Hong Kong exports … Read More
