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trade

News

White House Press Corps Refuses To Report “Real News”

Today, during the White House Press Briefing, Sean Spicer started his portion of the press briefing highlighting the new trade agreement with China. This trade agreement is a major first step by Donald Trump in reducing the current trade imbalance between the two countries. Reducing the trade imbalance with China will have a positive economic impact on the lives of everyday Americans. The China trade deal allows American beef to be imported into China for the first time in 13 years. It also allows for the importation of Liquid Natural Gas. The financial sector will also benefit as American banks can now compete for China’s credit card processing business. While these three industries will benefit, Americans will also benefit. Keep Reading

Economics/Politics

The Magic Box Of Free Trade

With the presidential campaign of Donald Trump comes much discussion about trade with foreign nations. A common theme is the notion that trade needs to be restricted, or at least heavily taxed, in order to protect domestic production. The line of thinking goes that if foreign companies are able to compete on even footing with American companies, their access to cheaper labor and fewer environmental regulations gives them an unfair advantage. This advantage could harm domestic businesses and cost American jobs. This fact is nearly undeniable. Jobs in manufacturing sectors competing with foreign producers will undoubtedly be displaced by these cheaper alternatives. However, the impulse to restrict and tax imports is misguided. The French economist, Frederic Bastiat, demonstrated the absurdity of domestic protectionism in a satirical piece called The Candlemaker’s Petition. In it, the producers of light-emitting goods lobby the government for special laws restricting their unfair competitor, the sun. Another Bastiat work, That Which is Seen and That Which is Not Seen, presents the idea that the direct… Keep Reading

Politics

The Cuban Challenge For All Americans

If we are to open up relations with Cuba we must do so with the intent of bringing the information age to all Cubans. That means insisting the Internet be made available to all Cubans, just as it is available to the Castro elites, the Pope, and Mr. Obama who all want new formalized relations. Cuba is a museum of two profound failures: the complete failure of communism to improve the quality of life for all Cubans, despite all it stole on behalf of the poor; and the second miserable failure of the US embargo to end Castro’s anti-American  communism and his murderous regime. Yet, the primary reason for our rapprochement with the island nation just 90 miles from the Florida shore, is to protect our Gulf-area sea lanes and the New Orleans port to the Mississippi River. Our shipping of fuel, agriculture, and material commerce up the Mississippi River to Canada fuels nearly half our national GNP and job markets. The Mississippi as well as the Gulf area… Keep Reading

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