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  • A Pop Quiz on Imports!

    Consider three countries: 1) In Country 1, imports of goods and services are 29 percent the size of the country’s overall economy. 2) In Country 2, imports are 22 percent the size of the country’s economy. 3) In Country 3, imports are 14 percent the size of the country’s economy. … More

    Political Leaders' Latest Scheme: Big Taxes on U.S. Exports

    Several U.S. political leaders have recently reiterated their desire to punish countries that undervalue their currencies. News flash: Since June 7, 2010, the value of the U.S. dollar has fallen 17.3 percent. If the United States gives countries a green light to designate low currency rates as an unfair trade … More

    The Tax on Mother’s Day Flowers

    With Mother’s Day around the corner, you better look out. It’s going to cost more than usual to send your mom a bouquet of flowers this year. Earlier this year, Congress allowed the Andean Trade Preference and Drug Eradication Act (ATPDEA) to expire. As a result: U.S. flower importers face … More

    Donald Trump Has A Lot to Learn About China

    This is how Donald Trump recently described China: “They’re making all our products. They’re taking all our jobs. And then they loan the money back and we pay them interest. It’s an amazing phenomenon.” A strong statement, but only one-third of it is true. China is not making all of … More

    In South Korea Free Trade Debate, Kaesong Should Be a Non-Issue

    Some critics of the proposed South Korea–U.S. Free Trade Agreement (KORUS) have expressed concerns about imports from North Korea, specifically goods originating from the Kaesong Industrial Region. This should be a non-issue. The chart below compares how imports from North Korea are treated today and how they will be treated … More

    When Trade is Free, the U.S. Gains Investment and Jobs

    The argument against U.S. companies investing abroad typically goes as follows: “Companies are just trying to substitute cheap foreign labor for expensive U.S. labor. The United States loses jobs, capital, and technology when companies go offshore to employ cheaper foreign labor.” While that may be true for individual companies, the … More

    Government Borrowing v. U.S. Exporters

    Some of the stiffest competition facing U.S. exporters does not come from Europe—or even China—but the U. S. Treasury Department. Yesterday, the U.S. Bureau of Economic Analysis (BEA) announced that foreign customers spent $1.83 trillion on U.S. goods and services in 2010. They spent $119 billion on U.S. agricultural exports, … More

    Good News on Trade: Exports and Imports Are Up

    The U.S. Bureau of Economic Analysis today announced that U.S. exports for January were $4.4 billion higher than in December. This is good news for U.S. exporters. The bureau also reported that Americans imported $10.5 billion more in January than in December. This is good news, too. As President Obama’s … More

    Budget Deficits Undermine U.S. Trade Policy Agenda

    The Office of the U.S. Trade Representative (USTR) just released its 2011 Trade Policy Agenda, which highlights several initiatives designed to boost exports. Nowhere in the 443-page document is a mention of the biggest barrier to U.S. exports: the federal budget deficit. Budget deficits require the government to borrow money … More

    New Statistics Demonstrate Need for Action on Trade Agreements and Budget Deficit

    The U.S. Commerce Department today reported that the country’s 2010 trade deficit was $497.8 billion, an increase of $122.9 billion from 2009. Exports increased from $1.57 trillion to $1.83 trillion, and imports increased from $1.95 trillion to $2.33 trillion. Increased imports are often a sign that the U.S. economy is … More