by Stephen Moore • Investor’s Business Daily
Is it possible that Donald Trump is winning on trade?
Last week, Trump apparently delivered two underappreciated victories as a result of his threat of stiff tariffs and renegotiated trade deals.
First, Seoul has agreed to reduce long-standing non-tariff trade barriers that have reduced American exports to Korea. Though the details are still sketchy, the Koreans have agreed to buy more Ford and General Motors Co. cars and trucks and other U.S.-made products. This can only be good news for American workers. The Koreans have also agreed to increase reimbursement rates to American drug and vaccine producers.
Even The New York Times grudgingly conceded that the deal “represents the type of one-on-one agreement that Mr. Trump says makes the best sense for American companies and workers.”
Also in recent days, China appeared to stand down in response to Trump’s jarring announcement of a record $50 billion of tariffs on Chinese products. Premier Li Keqiang pledged to improve American companies’ access to Chinese markets. He also said in a news conference that China would treat foreign and domestic firms equally. And what’s more, Beijing has promised that it would stop forcing foreign firms to transfer technology to China and would strengthen intellectual property rights enforcement. That was a smart and encouraging response. Continue reading
In 1963, John F. Kennedy delivered his famous “Ich Bin Ein Berliner” speech at the Brandenburg Gate in Berlin, Germany. Twenty-four years later, at the same spot, Ronald Reagan famously said, “Mr. Gorbachev, tear down this wall.” President Barak Obama, spoke this week at the same Gate where he hoped to regain some of his political mojo. He called for a worldwide reduction in nuclear stockpiles. In the theoretical world, a universal reduction in nuclear weapons is a good thing. But in the real world, there are nations that will not agree to such reductions and others that are currently seeking and acquiring them.
The idea that America should disarm in hopes of setting an example for other nations is dangerous and naive. We are not safer, if only the U.S. has fewer nuclear weapons. In fact, the rest of the world is not safer. If we can create verifiable and enforceable international agreements to reduce nuclear weapons, it would be worth considering. But if only the U.S. is disarming that is pure lunacy.
The same could be said for an international trade issue currently facing Congress that has garnered much political debate. Continue reading
by George Landrith
As a rock-ribbed conservative, I support the entrepreneurial dynamism of free markets. I believe entrepreneurs are more likely than government bureaucrats to build successful businesses and provide stable, good-paying jobs. I oppose government interference in the marketplace. I want government to spend less, interfere less, do less, and tax less.
So when a few fellow conservatives criticize plans to reauthorize the Export-Import Bank on grounds that it is just another costly government corporate welfare program, why do I strongly disagree? The answer is simple – the Ex-Im Bank is none of the things some of my fellow conservatives claim. Continue reading