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  • Goolsbee Appointment Good News for Global Trade

    President Obama reportedly plans to name Austan Goolsbee to head his Council of Economic Advisers. This appointment is good news for advocates of expanded international trade. One of the world’s leading trade economists, Jagdish Bhagwati, described Goolsbee as a valuable source of free-trade advice over almost a decade. During the … More

    The Sky (Still) Isn’t Falling

    In the 1980s and 1990s, Chicken Littles warned that Japan was buying up America. The biggest symbol that our country couldn’t keep up with Japan’s managed-trade policies was the 1989 purchase of New York’s Rockefeller Center by Mitsubishi. Even though the sky didn’t fall, protectionist Chicken Littles are at it … More

    Trade Deficit Reality Check

    Consider these recent print headlines: Economic Growth Slowed by Trade Gap; Economic Growth Cut Sharply Due to Trade Gap; and Economy Slows to 1.6 Percent as Trade Gap Widens. The people who wrote those headlines and the corresponding articles must have awfully short memories. Last year, the trade deficit fell … More

    The Back-to-School Supply Tax

    Many states offer “tax holidays” for shoppers during the back-to-school season, but families everywhere still pay extra at the checkout counter due to hidden import taxes that increase the price of everything from sneakers to baseball caps.  We have produced a graphic to help you visualize those import tax rates … More

    Celebrate Manufacturing Workers, Too!

    If Congressman Peter Defazio (D–OR), sponsor of the End the Trade Deficit Act, had grown up in Kansas instead of Massachusetts, he might have learned a valuable lesson from an association called the Kansas Agri-Women. In 1978, this group started placing billboards across the state proclaiming, “One Kansas farmer feeds … More

    Send Trade Critics Back to School

    Critics of free trade have used funny math to mislead Americans for decades. It may be time to send these critics back to grade school, so they can learn how to add and subtract. Consider the following interpretation of this May’s international trade statistics: “Oil and consumer goods from China … More

    U.S. Trade Deficit Improves

    On July 13, the government released international trade statistics for the first five months of the year showing a growing trade deficit—and almost no one got the story right. Here are some examples: “Trade Deficit Gets even Worse,” announced the July 13, 2010 Yahoo! Finance headline. “Trade Deficit’s Increase Seen … More

    The Cost of a Seat at the Table

    President Barack Obama recently announced the appointment of 20 private-sector members to the President’s Export Council. Although the President promised to provide Americans an “unprecedented level of openness in Government,” the White House announcement did not mention the numerous financial connections between President Obama and his appointees. To correct that … More

    Going to Bat for Exporters

    President Barack Obama recently promised that his Administration will be “going to bat” for U.S. exporters. A look at his specific recommendations suggests that the country would be better off if he stuck to golf. For example, President Obama promised improved access to credit to exporters through the Export-Import Bank … More