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    It’s Not the Value of the Chinese Currency: The Proof in Charts

    While the U.S. Treasury did not label China as a currency manipulator this week, it did criticize the Chinese authorities for recently intervening in the foreign exchange market. However, the yuan–dollar exchange value has no effect on the U.S.–Chinese bilateral trade balance. This is because a lot has changed in … More

    Don’t Wait to Cut U.S.-EU Tariffs

    The United States and the European Union (EU) are currently negotiating a proposed Transatlantic Trade and Investment Partnership (TTIP). A recent survey by the Atlantic Council and the Bertelsmann Foundation of over 300 “stakeholders” who have an interest in the TTIP talks suggests a possible strategy to jumpstart the agreement. … More

    U.S. Senators to Japan: Do as We Say, Not as We Do?

    A recently released letter from 18 U.S. Senators to U.S. Trade Representative Michael Froman asked Japan to open its agricultural market to foreign exports in ongoing Trans-Pacific Partnership (TPP) trade negotiations: In previous trade negotiations, the United States requested and received full and comprehensive liberalization in the agricultural sector from … More

    Lawmakers’ Currency Demands Could Backfire on U.S. Exporters

    A number of U.S. legislators want to give the Obama Administration the power to impose tariffs on imports from countries that manipulate their currencies. Such a policy could boomerang on U.S. exporters if other governments follow suit, since reductions in the value of the dollar in recent years could be … More

    The U.S. Gets It Right on Smithfield

    The Committee on Foreign Investment in the United States (CFIUS) is charged with screening foreign investments to ensure they pose no risk to national security. CFIUS receives a great deal of criticism, some of it deserved. But the decision last week to approve Chinese firm Shuanghui’s $4.7 billion acquisition of … More

    Imports: Let’s Hear More Economic Sense Like This from the President

    As President Obama heads to Chattanooga, Tennessee, today to give a speech at an Amazon.com fulfillment facility, he finally seems to be coming around on the positive effects that imports have on the economy. For a long time, the President failed to acknowledge that both exports and imports create jobs … More

    Why Don't We Have Free Trade with Every Country?

    With a July 31 expiration date fast approaching, both the House and Senate last week introduced legislation that would extend free trade preferences to developing countries under the Generalized System of Preferences (GSP). Introduced with broad bipartisan support, the extension was lauded by both sides of the aisle for supporting … More

    GDP: I Do Not Think It Means What You Think It Means

    Many decision makers and commentators treat gross domestic product (GDP) as if it measures the whole of the economy. They even use “the economy” and GDP interchangeably. GDP is an accounting device—and a poor measure of economic health. Household wealth is much closer to what we mean by “the economy.” … More

    Energy Secretary Nominee Faces Tough Natural Gas Decision

    If confirmed as the next Department of Energy (DOE) Secretary, Dr. Ernest Moniz will take over an agency that has increasingly injected itself into making investment decisions with taxpayer money that would be more efficiently made by the private sector. The Heritage Foundation disagrees with many of the policy recommendations … More

    Don’t Be Fooled - Trade Deficits Are Just Fine

    There is a major misconception in the United States concerning the balance of trade and jobs. Many equate trade deficits and increases in imports as bad for employment. They could not be more wrong. In fact, higher imports are a signal of prosperity and plentiful jobs. When a country’s economy … More