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    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

    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

    Politicians Should Listen to Economists on Free Trade

    On February 8, the government will release data for 2012 imports and exports. This annual release often ignites a debate about trade policy. But among economists, there’s not much debate over the benefits of free trade. The University of Chicago’s Booth School of Business regularly surveys economic experts. Last year, … More

    Shoe Shopping? Legislation Could Make Shoes Cheaper and Create Jobs

    If Congress wants to create more jobs this holiday shopping season, it can start by eliminating many Depression-era tariffs on shoes. According to the Bureau of Labor Statistics, 186,110 Americans work for shoe stores, an industry that generates $4.6 billion in annual wages. Many people who work for large department … More

    Looking for Black Friday Deals?

    Would it surprise you to know that many of the Black Friday items for sale that cause so much frenzy are highly overpriced due to tariffs? Black Friday, of course, is the day when hundreds of people wait outside of stores hours ahead of their opening to get a steal … More

    Chinese Imports Create U.S. Jobs and Help the Poor

    The recently concluded presidential campaign contained a substantial amount of China-bashing from two candidates fighting over who would be tougher on trade. In reality, getting tough on trade would mean getting tough on poor people and destroying U.S. jobs. A working paper from University of Chicago scholars Christian Broda and … More

    September Jobs Report Shows Imports Create Jobs

    The jobs report is out, and it reveals more than you may think. While President Obama seems to believe that exports alone will grow us out of the recession, the report indicates something much different: that imports are helping create lots of jobs. In September, the economy created 25,000 jobs … More

    WATCH at 1 p.m.: Debunking Myths on Trade and Jobs

    Trade and job creation came up in the presidential debate last night. A longstanding argument for blocking trade is that imports hurt jobs. This argument is wrong, and we can prove it. A paper published by The Heritage Foundation documents that the process of importing—offloading from ships and planes, transporting … More

    President Obama: Wrong on Rhetoric, Wrong on Trade Policy

    Trade policy is once again in the spotlight with President Obama’s announcement this week of a new suit against China in the World Trade Organization (WTO). The President announced the action—which argues that China unfairly subsidizes parts of its automotive industry—during a speech on Monday in Ohio. In announcing the … More