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In recent months, President Trump has
imposed much-needed tariffs to address China’s 24-year trade war and commercial
espionage campaign targeting America. Instead of changing course, China has
imposed tariffs on fairly-traded goods from the United States. While President
Trump’s moves are aimed at helping U.S. manufacturers, we need additional
strategies to help farmers and ranchers. America’s manufacturers and farmers
happen to share a major export problem - an overvalued U.S. dollar that makes
their goods more expensive overseas. If Congress and the administration can
buckle down to pass legislation addressing this “strong dollar,” we could see
corn, soybean and beef prices increase by 25 percent or more. [more...]
Earlier this week, the Coalition for a Prosperous America
(CPA) published details
of its new ‘Tariff Job Creation Tracker’ that tallied U.S. manufacturing jobs
gained in the wake of recent tariff actions. We keep hearing stories about the
sky falling because of President Trump’s strong hand in enforcing existing U.S.
trade laws. But the past six months have shown impressive job creation in
skilled, high-wage sectors against only very negligible, accompanying job
losses. The early returns show strong positive job creation. And there will
undoubtedly be greater job growth as more sectors receive attention from the
administration. [more...]
During
the Great Depression, farm subsidies were created to keep the family farm
afloat and ensure a stable national food supply. Today, these subsidies have
grown so lucrative that wealthy investors, large corporations, and farm-estate
heirs use taxpayer money to maximize their personal return on investment. Since
2008, however, the top 10 farm subsidy recipients each received an average of
$18.2 million – that’s $1.8 million annually, $150,000 per month, or $35,000 a
week. With the median household income of $60,000 a year, these farmers
received more than 30 times the average yearly income of U.S. families. It was
never the intent of Congress to create a new class of millionaires through
federal farm subsidies. Yet, the subsidies continue to flow. [more...]
As of today, job gains
exceed job losses by a 20:1 ratio. This week we’re showing gains of 11,100 jobs
in four major sectors affected by tariffs. Tariffs are creating far more jobs
than they are sacrificing. The tariffs are working. So far, we have
identified 514 job losses specifically due to tariffs. All job gains and job
losses refer to job changes that have either happened or have been publicly
announced as planned to happen by the companies involved, with specific numbers
included. We have not estimated any of these numbers; they all come from the
companies concerned. We do not include threats of potential job losses, such as
the threat of sacrificing an alleged 4,000 future jobs recently made by the CEO
of Chinese-owned Volvo Cars. Many corporate leaders are making vague threats or
forecasts with clear political motivations. We are going deeper and looking at
facts and facts only. [more...]
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