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 Council of Economic Advisers recently reported, economic growth in other countries leads to increased U.S. exports. When people in other countries escape poverty and become richer, more of them are able to afford U.S.-made products. Just as economic growth in …
Revving up its trade dispute with the Obama Administration over trucking, on August 16 the Mexican government announced revisions to the list of U.S. goods subject to tariffs when they are imported into Mexico. Although Mexico will remove 16 U.S. products from the list of 89 that are currently subject to tariffs, 26 will be added for a net gain of 10. Among the new targets: U.S.-produced pork, oranges, grapefruit, apples, corn, pistachios, chewing gum, cheese, ketchup, and chocolate. The new tariffs will affect as much as $2.5 billion in …
The President’s recognition in last night’s Fox News interview that exports play an important role in bolstering U.S. economic performance was welcome, but missed at least half of the trade story. Imports benefit America, too, through lower prices to consumers and manufacturers that raise incomes and boost productivity and competitiveness. The President promised a thorough review America’s trade policy over the first half of 2009 and a new road map for U.S. trade relations this summer – a promise that remains unfulfilled as the year comes to a close. The …
When it comes to legislative PR, it doesn’t get much better than “Buy American.” What could possibly be more patriotic than buying American-made products? During tough economic times, mandating that government contractors use only goods with the Made in the USA label doesn’t just sound like good policy, it seems like plain old common sense. We all want to create American jobs and promote American manufacturing. So when a dramatic expansion of Buy American regulations was included in the “stimulus” bill, it may have sounded like a great idea on …
The one bright spot in the American economy continues to be the growth in U.S. exports. The Chicago Tribune reports today: The economy is chugging along on the strength of foreign demand, even as many Americans cut back on basic purchases outside of food and fuel. That was the message in Tuesday’s report on the trade deficit, which unexpectedly narrowed in June despite record prices for oil and energy imports. Demand for exports rose 4 percent, the biggest monthly gain in 41/2 years, to the highest level ever. Foreign customers …
