PERC Blog


Authored by PERC staff, the PERC Blog focuses on policy issues including fiscal policy, Social Security and Medicare entitlement programs, income inequality and Federal Reserve policy.

Phase One U.S.-China Trade Agreement

Posted: January 30, 2020 by Dennis W. Jansen, Liqun Liu, Andrew J. Rettenmaier
After twenty months of mutual tariff escalations and numerous rounds of negations, the U.S.-China trade dispute finally reached a temporary resolution.  The phase one trade agreement between the U.S. and China was signed on January 15 at the White House by President Trump and China’s lead negotiator, Vice Premier Liu He.  ...
Tags: International Trade

NAFTA to USMCA

Posted: January 30, 2020 by Dennis W. Jansen, Liqun Liu, Andrew J. Rettenmaier
On January 16, 2020 the U.S.-Mexico-Canada Agreement (USMCA) was passed on a Senate vote of 89-10.  The new USMCA is an update of the North American Free Trade Agreement (NAFTA) and includes several notable changes. The new trade agreement comes 26 years after NAFTA became effective on January 1, 1994. While the provisions in the USMCA affe...
Tags: International Trade

The Cost of Tariffs on Chinese Products

Posted: June 13, 2019 by Dennis W. Jansen, Liqun Liu, Andrew J. Rettenmaier
Who pays for U.S. tariffs on Chinese goods?  According to some in the popular press, the answer is that the tariffs on China are paid entirely by U.S. importers, and eventually by U.S. consumers.  This answer seems to be based on the observation that U.S. importers must pay the tariff to the U.S. Customs authorities before the imported...
Tags: International Trade

How Not to Solve the Problem of Trade Deficits

Posted: July 09, 2018 by Dennis W. Jansen, Liqun Liu, Andrew J. Rettenmaier
The U.S. has run persistent trade deficits since the early 1990s and the annual trade deficit has increased to $566 billion in 2017.  This has raised concerns that our trading partners are taking advantage of us.  Since March, President Trump has roared about our trade deficit with China, equal to $375 billion in 2017, as well as China...
Tags: International Trade

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