Gomory Calls for Import Certificates to Balance Trade

Howard Richman submits:In testimony before the Senate Foreign Relations Committee on March 2, U.S. Treasury Secretary Timothy Geithner explained why he thinks that market forces will balance U.S.-China trade without the Obama administration having to do anything more than talk. Here are some selections:

Howard Richman submits:In a commentary in the July 5 issue of Business Week (How to Make an American Job Before It’s Too Late), Andy Grove, a founder of Intel (INTC) and its former CEO makes the spectacular prediction that the outsourcing of production of technologically advanced

As mentioned, Mitt Romney released his big economic plan last week.  Let me first say that there is a lot in the dictionary-length manifesto that I like, such as his calls for reducing the corporate income tax rate, passing pending FTAs, and enhancing domestic energy production.  However (and you knew that there was a "however"), as I alluded to last Tuesday, one h

Howard Richman submits:President Obama is testing out the theory that it is possible to pump up the U.S. economic tire without patching the trade deficit leak. So far, he has only succeeded in pumping up the trade deficit.

Howard Richman submits:The Chinese government has continued its successful policy of imposing tariffs and non-tariff barriers upon U.S. products. 1. In 2009, the Chinese government excluded American products from its catalogs of the products that could be purchased with its consumer subsidies. Through this and other means it reduced imports from the United States despite the growth of the Chinese economy by a reported 8.7%.

Howard Richman submits:In the mystery story Silver Blaze, Sherlock Holmes uses the clue that a dog didn't bark to help unravel a mystery. The significant thing that happened in U.S.-Chinese relations last week was similar.

Howard Richman submits:In a commentary in Sunday's New York Times (Taking on China), Nobel Prize winning economist Paul Krugman called for an accross the board 25% tariff on Chinese goods. Here is his specific recommendation:

Howard Richman submits:Yesterday, Commerce Secretary Gary Locke set a miniscule preliminary tariff, ranging from 3.92% to 12.83% on Chinese glossy magazine-quality paper to offset Chinese government subsidies to paper exporters.