• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Attention, Reporters: A Trade Deficit Is Not Bad

    The latest trade deficit figures are out, and, as always, most reports fail to accurately explain what these numbers mean. Consider the following widely reported statement: A narrower trade gap boosts growth because it means U.S. companies are earning more from overseas sales while U.S. consumers and businesses are spending … More

    New Whoppers from U.S. Sugar Producers

    According to a recent statement from the American Sugar Alliance: Over the past few weeks, the U.S. Department of Agriculture (USDA) has released three key data points that deserve attention on Capitol Hill and are sure to deflate the Big Candy lobby’s attempt to gut U.S. sugar policy and outsource … More

    Protectionist Jones Act Harms Puerto Ricans

    An obsolete U.S. law known as the Jones Act makes people in Puerto Rico poorer, according to a new report from the Federal Reserve Bank of New York. The Jones Act, also known as the Merchant Marine Act of 1920, requires people transporting goods by ship between two points in … More

    Rotten Tomato Trade Policy from the Obama Administration

    U.S. consumers will soon be paying more for tomatoes thanks to the Obama Administration’s new trade policy. Under a just-announced agreement with Mexico, Americans reportedly will be paying up to twice as much for tomatoes grown in Mexico. The increase is entirely due to minimum prices imposed by the Obama … More

    Politicians Should Listen to Economists on Free Trade

    On February 8, the government will release data for 2012 imports and exports. This annual release often ignites a debate about trade policy. But among economists, there’s not much debate over the benefits of free trade. The University of Chicago’s Booth School of Business regularly surveys economic experts. Last year, … More

    President Reagan on Trade, Peace, and Prosperity

    As President Obama crafts his 2013 trade agenda, he should look to the words of Ronald Reagan for inspiration: Free trade serves the cause of economic progress, and it serves the cause of world peace. When governments get too involved in trade, economic costs increase and political disputes multiply. Peace … More

    Don’t Believe What You Read: Bigger Trade Deficit = More Economic Growth

    The latest trade deficit figures are out, and like always, most reporters fail to accurately explain what these numbers mean. During the past 10 years, there has been a clear relationship between trade deficits and U.S. economic growth. Most news coverage got the relationship backwards. Consider the following reports: “The … More

    Trade Deficit Increase Not Necessarily a Bad Thing

    The U.S. Bureau of Economic Analysis (BEA) announced today that imports and exports both declined in October while the overall trade deficit increased. Reactions to the BEA report were misleading. For example, the Associated Press reported: “A wider trade deficit acts as a drag on growth.” In fact, U.S. trade … More

    A Rare Showing of Bipartisanship

    Yesterday, in a rare showing of bipartisanship, the lame-duck Senate passed the Russia and Moldova Jackson–Vanik Repeal Act of 2012 by a vote of 92–4. The Senate took up the version of the bill that passed by an overwhelming majority in the U.S. House of Representatives last month, which grants … More

    Shoe Shopping? Legislation Could Make Shoes Cheaper and Create Jobs

    If Congress wants to create more jobs this holiday shopping season, it can start by eliminating many Depression-era tariffs on shoes. According to the Bureau of Labor Statistics, 186,110 Americans work for shoe stores, an industry that generates $4.6 billion in annual wages. Many people who work for large department … More