The U.S. Bureau of Economic Analysis (BEA) just announced that the country’s current account deficit for 2011 was $473.4 billion. This number includes transactions like exports and imports. Cue the “sky is falling” headlines. However, the BEA did not point out that the overall U.S. international transactions deficit was $0. That means the number of dollars leaving the country and the number of dollars entering the country in 2011 balance out. Clearly explaining this information might reduce the number of inaccurate reports on the trade deficit’s impact, such the Associated … More
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By Daniel Ikenson
U.S. policymakers hold the key to vastly improved economic relations with China. They also have the key to the vehicle that will take the bilateral relationship over the cliff, which appears to be the route that has been chosen. Republican House Ways and Means Chairman Dave Camp will introduce legislation this afternoon that makes explicit the [...]
Congress Poised to Escalate the U.S.-China Trade War is a post from Cato @ Liberty – Cato Institute Blog
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By Daniel Ikenson
Not to get him in trouble with his boss, but U.S. Trade Representative Ron Kirk has been sounding like a free trader lately. I’m beginning to think Ambassador Kirk consumes the analyses we produce over here at the Cato Institute’s Herbert A. Stiefel Center for Trade Policy Studies. Well, let me rephrase: that he consumes [...]
Is the U.S. Trade Representative a Closet Free Trader? is a post from Cato @ Liberty – Cato Institute Blog
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