By Howard Schneider and Jan Strupczewski WASHINGTON (Reuters) - Donald Trump took power in January pledging to overhaul a global order that he said cheated middle-class Americans with a promise to tear up trade agreements and impose tariffs on China and Mexico. Some of Trump's policy advisers named allies like Germany and Japan as possible … Continue reading Global finance leaders find a more temperate Trump in Washington
Category: Trade
European Union and Japanese leaders recently met in Brussels to further negotiations for a free trade agreement. As the EU and Japan work together to boost their economic, political, and security ties, sentiments in the United States seem to be turning away from free trade in favor of protectionism. President Donald Trump has fueled anti-trade … Continue reading US Falling Behind on Trade, While Japan and EU Thrive
By David Morgan WASHINGTON (Reuters) - Conservative activist groups that generally support Republicans but oppose a pro-export, anti-import Republican tax proposal, released a study on Thursday estimating its impact on individual U.S. states, underscoring the party's division over taxes. With taxes at the top of Republican priorities, the two groups, backed by the wealthy Koch … Continue reading Conservatives attack proposed US border tax
Interior Secretary Ryan Zinke just acknowledged the elephant in the room. “The Rio Grande, what side of the river are you going to put the wall?” he said, speaking at the Public Land Council’s Legislative Conference. “We’re not going to put it on our side and cede the river to Mexico. And we’re probably not … Continue reading Border wall will literally dry up hundreds of thousands of American jobs
Try to think of a country that elected a populist president: someone who wanted to boost manufacturing jobs, insists that domestically-sold products should be made domestically, and threatens to use tariffs to shut off foreign competition. How would that work out? I am, of course, referring to President Cristina Kirchner of Argentina, not President Donald … Continue reading Argentina Already Tried Trumponomics
Donald Trump has demonstrated his profound misunderstanding of the basic economic principles of international trade for several years now, and perhaps reached a pinnacle when he told the New York Daily News in an interview last August that “we’re getting hosed by the Chinese — and that we’ve done it with our eyes wide shut.” … Continue reading Trade Deficits Don’t Matter; Understanding Deficits Do
Today is International Women's Day and, in some of the least surprising news of the day, it turns out that women's equality ties into economic freedom. International Women's Day was founded by the American Socialist Party in 1909 and usually ends up celebrating women in government, politics, and statism, but let's look at something else. … Continue reading Women Prosper When Markets Are Free
Yesterday’s post on CD displayed two maps showing each US state’s largest country trading partner for exports and imports in 2016. In response to a comment on those state maps, the table below shows something that is potentially very interesting: the degree (importance) of international trade for each US state in 2015. The table shows … Continue reading How Much Does Your State Need Foreign Trade?
For the last five years, conservative lawmakers have rallied behind efforts to close the Export-Import Bank, and were successful in 2015, albeit briefly, when the bank’s charter lapsed for the first time in its history. But now, with President Donald Trump in the White House, conservative lawmakers may have a chance to shutter the bank … Continue reading Trump’s Mixed Signals on Export-Import Bank Leave Door Open for Conservatives
When Joseph Whitworth was growing up in Stockport, the man who became the greatest mechanical engineer of the Victorian age witnessed a traumatic sight. In 1812, this unlovely industrial town on the outskirts of Manchester was overrun by Luddite rioters, all the more terrifying as they were wearing women’s clothes as they went on the … Continue reading The Luddites Were Wrong Then and They’re Wrong Now
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