The trade deficit is the amount by which the total value of purchases of U.S. consumers, businesses, and governments from foreign suppliers exceeds the total value of purchases of foreign consumers, businesses, and governments from U.S. suppliers.
There are stories about certain U.S. manufacturers working to convert their factories into facilities to produce badly needed medical supplies, and equipment or shipping companies rerouting and reconfiguring what they deliver and when. But is this really happening on a meaningful scale?
New rules from the Commerce Department’s Office of Enforcement and Compliance are poorly considered and do not belong in the hands of a department that has overseen an unsavory steel and aluminum tariff exemption process.
President Trump famously called the North American Free Trade Agreement “the worst trade deal ever made.” Bygones. The need to debate that claim has been mooted by the fact that NAFTA’s likely successor—the United States‐Mexico‐Canada Agreement—now holds that distinction.
America’s divisive, deleterious culture war started long before January 20, 2017. But during the presidency of Donald Trump, as exemplified in his UNGA speech today, a new front in that war is open over the question of the future of America’s role in the world with regard to trade and international institutions.
The Democratic Party is long overdue for a serious, substantive debate over the objectives and tools of trade policy. Making a play for the center on trade would be the outcome that best serves the party and the country.
Based on information that the U.S. public hasn’t seen, the Trump administration has deemed Huawei a national security threat. That may well be the right conclusion, but other governments seem unconvinced, and have resisted.
Instead of entering what many anticipated would be the home stretch of negotiations to end the nearly yearlong trade war, U.S. tariffs on about $200 billion of imports from China are set to increase from 10 percent to 25 percent.