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    Does the United States Really Have a Trade Deficit?

    In 2012, $3.4 trillion came into the United States through trade and investment, and $3.4 trillion left, according to the Bureau of Economic Analysis (BEA). Every dollar Americans sent to people in other countries was balanced by a dollar sent back to the United States: 64 cents for U.S. exports, … More

    Free Trade: Bringing Ireland to Your St. Patrick’s Day Celebration

    Today, millions of people around the world will put on some green, watch a hurling or rugby match, enjoy a Guinness stout, and praise St. Patrick, the patron saint of the Emerald Isle. A beam in Guinness’s Dublin brewery reads “Everyone’s Irish on March 17th.” And, thanks to free trade, … More

    Korea-U.S. Free Trade Agreement One Year On: Solidifying a Partnership for the Future

    March 15 marks the first anniversary of the Korea–U.S. Free Trade Agreement (KORUS FTA). Over the past 12 months, a growing number of businesses in both countries have taken action to capitalize on the expanded opportunities created by the free flow of products, services, and ideas through the KORUS FTA. … More

    The Arms Trade Treaty and the Second Amendment: Answering the American Bar Association

    On February 26, the American Bar Association’s Center for Human Rights issued a white paper on the U.N. Arms Trade Treaty (ATT), which concludes that “the proposed ATT is consistent with the Second Amendment.” This conclusion neglects important facts about the treaty and the processes surrounding it, which we will … More

    America’s Next Trade Chief Should Focus on Promoting Greater Trade Freedom

    Senator Max Baucus (D–MT), chairman of Senate Finance Committee, urged strong and unrelenting political leadership in pursuing a comprehensive free trade pact between the U.S. and the European Union. He highlighted the importance of choosing an effective and experienced leader as America’s next trade czar in his recent Financial Times … More

    St. Louis Fed Report Finds Imports, Not Exports, the Lifeblood of U.S. Manufacturing

    A new report published in the Federal Reserve Bank of St. Louis Review provides strong evidence that the Administration’s obsessive focus on boosting exports as a way to help U.S. manufacturers is just plain wrong. The study debunks the idea that changes in either imports or exports affect growth in … More

    Mr. President, Don’t Forget: Imports Create Jobs, Too

    Trade is again on President Obama’s agenda thanks to some high-profile mentions in his State of the Union address last Tuesday. According to the President, the proposed Trans-Pacific and Transatlantic Partnerships should boost exports and create American jobs. Exports, however, are only one side of the coin. Free trade also … More

    Room for Improvement When It Comes to Services Trade

    The Obama Administration recently announced its intention to begin negotiations on an agreement to expand international trade in the services industry, such as the telecommunications, banking, and insurance sectors. According to a letter from U.S. Trade Representative Ron Kirk to Speaker of the House John Boehner (R–OH), the White House … More

    Japan’s Economy - What Really Matters

    Japanese gross domestic product (GDP) fell for the third straight quarter (October–December) and was essentially flat for 2012 as a whole. This continues two decades of stagnation in annual output—Japan’s annual GDP in 2012 is essentially the same as 20 years ago. Stagnation is part of what motivated new Prime … More

    U.S.–China Trade: Don’t Let the Numbers Fool You

    The numbers for America’s trade in 2012 came out on Friday and, as usual, China is prominent. America’s goods trade deficit with China broke the $300 billion barrier, rising almost 7 percent from 2011 to $315 billion. Also, China was said to have passed the U.S. as the largest trading … More