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  • trade policy

    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

    A Tariff Cut Can Boost U.S. Output

    The Federal Reserve recently cut its forecast for economic growth in the United States. That’s a problem. We need higher growth to create jobs and rebuild a prosperous middle class. However, there’s a simple way the government could combat continued weak growth: eliminate tariffs on inputs used by U.S. producers. … More

    America Needs a New Balanced Tariff Structure

    Where does America get its shoes? Today, 99 percent of shoes sold in America come from overseas. Imported shoes are taxed at an average rate of 10 percent, with some tariffs as high as 67.5 percent. Inexpensive shoes are taxed at higher rates, a burden for low-income Americans. New Balance … More

    Keystone XL and Natural Gas Provide Energy Trade Opportunities

    In June 2008, presidential candidate Barack Obama said, “If we continue to let our trade policy be dictated by special interests, then American workers will continue to be undermined, and public support for robust trade will continue to erode.” That’s exactly what’s happening with respect to energy trade. Special interests … 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

    Rotten Tomato Trade Policy from the Obama Administration

    U.S. consumers will soon be paying more for tomatoes thanks to the Obama Administration’s new trade policy. Under a just-announced agreement with Mexico, Americans reportedly will be paying up to twice as much for tomatoes grown in Mexico. The increase is entirely due to minimum prices imposed by the Obama … 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

    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

    Chart of the Week: Crony Capitalism Leads to Higher Sugar Prices

    Sugar producers contribute only a small percentage of value to overall U.S. crop production, yet the industry continues to reap the rewards from government thanks to a significant lobbying presence and sizable campaign donations. The result is government interference in the sugar market, which dates to the 1930s Depression. American … More