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  • free trade

    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

    The United States, Free Trade, and the Economics of Lost Opportunities

    “We’re cutting our own throats here, I think,” Kim Murray, from the USA Dry Pea and Lentil Council, recently remarked in reference to the U.S. failure to pass pending free trade agreements (FTAs) with Colombia, Panama, and South Korea. These agreements fell to the wayside in the midst of the … 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

    Chinese Currency Manipulation: Lies and Statistics

    There’s a very old political rule getting a new twist in the House of Representatives right now: When your policies fail, blame someone else. The new twist is: When unemployment is above the level you said would be a catastrophe, and you’re on the road to bankrupting the country in … 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

    Progress in Colombia Aids Its FTA Case

    June 10 marked an important step forward in Colombia’s efforts to build enduring democratic security and pursue justice: Colombia’s president, Juan Manuel Santos, signed the Victims’ and Land Restitution Law. In the past, violence perpetrated primarily by paramilitary groups and guerrillas displaced 4 million Colombians, forcing them off as much … 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

    Guest Blog: Rep. Mike Kelly on the Korea-United States Free Trade Agreement

    In April, I visited South Korea and met with government and military leaders to promote vital U.S. interests in East Asia.   Among those priorities is the long overdue passage of the South Korea-United States Free Trade Agreement (KORUS), which has been stalled in typical Washington fashion since 2007. If ratified, … 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

    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