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  • U.S. Tariffs Penalize Back-to-School Shoppers

    Though parents might be rejoicing that the time has come for their kids to head back to school, their happiness could be tempered by a little-known fact: They’re paying import taxes on everything from clothes to lunchboxes, musical instruments to pencils. In 2010, the government collected $25.9 billion in tariffs … More

    U.S. Trade on the Rise in 2011

    The U.S. Bureau of Economic Analysis (BEA) today reported that U.S. trade volume for the first six months of the year was 15.7 percent higher in 2011 than 2010. Exports and imports were both up nearly 16 percent. Compared to the first six months of last year, exports of U.S. … More

    Chairman Dave Camp Moves Trade Agreements Forward

    The efforts of House Ways and Means Committee chairman Dave Camp (R–MI) to implement long-overdue trade agreements with Colombia, Panama, and South Korea may soon pay off, providing a much-needed boost to the stagnant U.S. economy. Camp has rebuffed demands from the Obama Administration and Senate Finance Committee chairman Max … More

    Federal Spending and the Trade Deficit

    In 1987, President Ronald Reagan explained the relationship between federal spending and the U.S. trade deficit: “Here in the United States, we must restrain government spending. Our trade deficit in goods and services reflects that, over the past several years, we have spent more than we have produced—and we have … More

    Smoot–Hawley Anniversary Serves as Reminder of Protectionism's Damage

    Today marks the 81st anniversary of the passage of the Smoot–Hawley Tariff Act. Actor and economist Ben Stein famously explained this legislation in Ferris Bueller’s Day Off, the classic John Hughes movie that was released 25 years ago this month: In 1930, the Republican-controlled House of Representatives, in an effort … More

    Colombian Labor Leaders Risk Their Lives on DC’s Mean Streets

    The AFL-CIO recently ran expensive, full-page ads in several inside-the-beltway publications highlighting the threat of violence facing union leaders in Colombia. Their ads left out the fact that Colombian labor leaders currently visiting our nation’s capital are more likely to be murdered here than when they return to their home … More

    Obama Administration (Sort of) Goes to Bat for Free Trade Agreements

    The Obama Administration recently made its strongest statement yet in support of free trade agreements. Secretary of State Hillary Clinton commented on the challenges of implementing trade agreements: It does mean you have to take on entrenched interests and respond to concerns about new competition, while making the case over … More

    Monthly Trade Statistics Report: Misleading and Dangerous

    The U.S. Commerce Department today announced that the trade deficit for April was $43.7 billion. This number is misleading because it implies a “deficit” in terms of dollars leaving the country, which is not the case. For example, the trade deficit numbers do not include the billions of dollars foreigners … More

    U.S.-Made Vehicles Top Consumer Reports Best Car List

    People who believe the United States no longer manufactures anything need to check out the newest Consumer Reports “Best Cars” list. The magazine recently selected the top cars for 2011 in 10 categories. Five “best models” are made in the USA, three in Japan, one in Canada, and one in … More

    Trade Deficit: Made in the USA?

    The U.S. Bureau of Economic Analysis just announced that the trade deficit for March increased to $48.2 billion. The federal budget deficit plays a major role in creating U.S. trade deficits. When the government sells Treasury bonds to finance the budget deficit, it competes with U.S. exporters and private borrowers … More