by jpitney | Feb 12, 2025 | Economic Policy, Trade
Jeff Luse at Reason: The U.S. is the second-largest steel importer in the world, according to the International Trade Administration. In 2023, the U.S. imported 25.6 million metric tons of steel and exported a little more than 8.2 million metric tons. About half of...
by jpitney | Feb 3, 2025 | Economic Policy, Trade
Lindsay Wise at WSJ: The precise impact will depend on how long the tariffs stay in place and if other countries retaliate. The Tax Policy Center, a think tank, estimates the average household’s after-tax income will fall 1%, or $930, in 2026 because of the...
by jpitney | Feb 2, 2025 | Economic Policy, Trade
Wall Street Journal: The U.S. doesn’t produce enough lumber to meet domestic demand and thus imports about a third of the softwood used in home construction, mostly from Canada. Environmental policies restrict logging on public land in the American Northwest. Timber...
by jpitney | Feb 1, 2025 | Bipartisanship, Economic Policy, Photojournalism, Trade, Uncategorized
Phil Gramm and Larry Summers: In an extraordinary act of unity, 1,028 American professional economists in the spring of 1930 signed a letter urging Congress to reject and President Herbert Hoover to veto the Smoot-Hawley Tariff Act. Yet that June, Congress passed it...
by jpitney | Jan 30, 2025 | Trade
Scott Lincicome at Cato: As I wrote late last year, the US automotive industry is a great example of the complexities of 21st-century manufacturing and the benefits of globalization: [I]t’s widely acknowledged by automotive industry experts that freer trade and...
by jpitney | Jan 28, 2025 | China, Foreign Policy, Trade
Karlyn Bowman at AEI: There is longstanding concern in public opinion about China’s unfair trade practices as well as sustained support for protecting workers’ jobs and American manufacturing. Fifty-two percent of registered voters in the new Harvard CAPS/Harris...