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    Good News: Reporters Link Bigger Trade Deficit to Stronger Economy

    The government just announced that the trade deficit for May increased by $400 million. Usually, the media report announcements of bigger trade deficits as bad news, accompanied by mistaken assertions that trade deficits are a drag on the economy. But this time, some reporters got it right. According to Reuters: … More

    Syria and the G8: Only a Dinner Party Discussion

    The leaders of the G8 have wrapped up a two-day summit. Although tax, transparency, and trade (the so-called three Ts) were priorities on the official agenda, the civil war in Syria dominated the headlines. This change of plans demonstrates one of the biggest problems with huge international summits such as … More

    Will the Currency Zombie Eat the Trans-Pacific Partnership?

    Currency manipulation is the issue that never dies. No matter how many times the link between exchange rates and American jobs is shown to be tenuous, the matter rises again like a zombie. In this case, it is Japan that has brought exchange rates back into the spotlight, as the … More

    20 Completely Unjustified Programs in the House Farm Bill

    The House of Representatives is preparing to vote on a $1 trillion package of agriculture subsidies and welfare benefits that exemplifies warped federal policy. Within its 575 pages, the proposed Federal Agriculture Reform and Risk Management Act includes massive spending on food stamps, a bumper crop of insurance subsidies, and … More

    Brazil Turns Away from Capital Controls

    Last week, Brazil announced that it is finally eliminating its most prominent tax on foreign portfolio investment. This reversal is the most recent reminder of the negative effects of capital controls. Capital controls are measures, sometimes in the form of taxes or fees, that limit the movement of capital into … More

    Trade Promotion Authority: Make the Case

    Trade promotion authority (TPA) does several positive things. For one, it gives the President a window where Congress agrees to an up-or-down vote on trade agreements, without the possibility of amendments. It therefore raises the chances of a vote in favor of a deal and is generally welcomed by free … More

    A Conservative Agenda for Trade: Eliminate the Threat of Tariffs

    When it comes to trade, the ultimate objective for conservatives should be to eliminate tariffs—not just reduce some or all, but take them completely off the table and make it as difficult as possible to impose or threaten to impose tariffs (or quotas). Many Americans believe that tariffs are a … More

    Pacific Alliance: Decreasing Trade Barriers and Increasing Economic Growth

    The presidents of the “Pacific Alliance” (Chile, Colombia, México, and Perú) met last week in Cali, Colombia, to sign an agreement removing tariffs on 90 percent of their merchandise trade. This is good news. Congress and the Obama Administration should pay more attention to this trade bloc—one that is considerably … More

    GDP Grew 2.5 Percent in the First Quarter

    After dreadfully low growth in the last quarter of 2012—just 0.4 percent—gross domestic product (GDP) returned to a healthier rate of growth of 2.5 percent in the first three months of 2013. The autumn’s drop in private inventories was reversed as companies stockpiled more goods in anticipation of future consumer … 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