All I Want For Christmas Is a Trade Deal with China

Regardless of whether you support President Trump’s tariffs as a negotiating tactic or whether you view them as harmful and unlikely to net a better deal, my Christmas wish is that the U.S. and China reach a pro-growth trade agreement before the holidays. A recent string of headlines makes clear that continuing the ‘economic cold war’ is in neither party’s interest, and I hope my wish is shared by those on both sides of this debate. A look at China’s stock market over the past year suggests the tariffs have been a significant drag on the Chinese economy. But the

Congress Needs to Be Involved in Negotiating “New NAFTA” Deal

Yesterday, the United States and Mexico agreed on a new trade agreement to replace NAFTA. As I write this column, it’s still too early to say what the impact of this new accord will be, as most of its details have not been released. But with that said, what we do know is enough to call into question whether this agreement will truly be a “better deal.” Investor’s Business Daily gave us some insight into the plan: The key to Monday’s new U.S.-Mexico Trade Deal — Trump wants to deep-six the name “Nafta” for good — is a thorough revamping

Wall Street Journal to President Trump: It’s Time for Monetary Reform

This week, a fantastic editorial appeared in the Wall Street Journal that has sparked a very important conversation. In the article, the paper’s editorial board encourages President Trump to use monetary reform to address Chinese currency devaluation. The WSJ wrote: Mr. Trump’s trade policies are also becoming a currency problem. Faced with the threat of U.S. tariffs on some $500 billion of its exports, China seems to be letting its currency depreciate to compensate. The yuan traded at 6.27 to the U.S. dollar on April 18 but fell to 6.77 on Friday. That should help the competitiveness of Chinese exports in

Hypocrisy: Trudeau Slams Trump for Tariffs, Ignores Canada’s Protectionism

After the recent G-7 Summit, Canadian Prime Minister Justin Trudeau raised eyebrows when he gave a blistering press conference calling out President Trump for his protectionist tariffs. Trudeau’s remarks were met by some, uh, colorful language by a senior member of the Trump administration, who was none too pleased by the Canadian leader’s political grandstanding. While I share the concerns of many about the potential impact of a trade war, and I consider free trade to be a cornerstone of American prosperity, Trudeau’s press conference brings to mind a certain proverb about removing the plank in one’s own eye before

Why Threatening Tariffs Is Unlikely to Get America a Better Deal

Today, President Trump sparked an early stock market sell-off with the announcement that his administration has identified $200 billion in Chinese goods that it could hit with tariffs. This potential $200 billion tax increase on imports (which will go into effect if the U.S. and China are unable to strike a broader trade agreement) was announced mere days after President Trump enforced his first $50 billion in new tariffs on Chinese goods. Although the markets were predictably whacked in the aftermath of this substantial trade war escalation, some Republicans appear to support tariffs as a ‘negotiating tactic’ for dealing with

This Week in Economics: 4 News Stories You Need to Know About

Here is an update on some of the recent stories that I have covered for The National Pulse: 1.) D.C. City Council unanimously votes to raise taxes on Uber…and a ton of other things. The Washington Times reports: The 13-member council approved funding Metro by raising the tax on ride-hailing services Lyft and Uber from 1 percent to 6 percent, as well increasing the sales tax, the car rental and leasing tax, the hotel sales tax, and the tax on alcohol sold in liquor stores. Owners of properties assessed at more than $5 million will pay an increased 24 cents

A Trump Trade War Wouldn’t Put ‘America First’

President Trump rattled global markets this week after announcing his administration would pursue a new 25 percent import tariff on steel, and a new 10 percent import tariff on aluminum. To call a spade a spade — Trump’s tariffs amount to nothing less than a tax increase on American consumers. These tariffs will inevitably have a profound, negative impact on the U.S. economy, hence the negative reaction from the stock market. That said… one amusing consequence of President Trump’s tariff announcement has been the left-wing media’s newfound support for tax-free trade. The liberal press has suddenly had an epiphany —

Dear President Trump: “America First” Should Mean Free and Open Trade

Last Friday, President Donald Trump took the podium at the Asia-Pacific Economic Cooperation summit in Vietnam to deliver a forceful speech in which he doubled down on his nationalist economic rhetoric. In his remarks, Trump rebuked Asian countries and their leaders for what he called “unfair trade practices” saying, “We are not going to let the United States be taken advantage of anymore.” Trump further asserted that the United States was continually subject to what he referred to as “chronic trade abuses” that were costing American jobs. While this rhetoric plays well with much of the President’s political base and