Trade
Wholesale Inflation Accelerated in April
CNBC. The numbers: According to the Bureau of Labor Statistics, producer prices at the wholesale level increased by 11% over the past year and 0.5% in April. “Excluding food, energy and trade services, core PPI rose 0.6% in April and 6.9% from a year ago, the latter a decline from 7.1% last month.” Earlier this …
Manufacturers: USTR Report Signals Importance of Concrete Action to Protecting Manufacturing Innovation
Washington, D.C. – Following U.S. Trade Representative Katherine Tai’s release of the agency’s annual Special 301 report on global intellectual property protection, National Association of Manufacturers Vice President of International Economic Affairs Ken Monahan released the following statement: “Innovation and intellectual property are the lifeblood for manufacturers in the United States, supporting manufacturing businesses and …
Congress Votes to Limit Economic Ties with Russia
The Hill. Ending normal trade relations: “Senators voted 100-0 on two bills. The first, H.R. 6968, codified the Biden administration’s ban on oil imports and other energy products from Russia. New U.S. sanctions: On April 6, the U.S. announced a ban on all new investments in or exports to the Russian Federation by the U.S. …
The Economic Impact of War in Ukraine
The Wall Street Journal (subscription). Ukraine economic projection: In a detailed assessment of the economic impact of the war, the European Bank for Reconstruction and Development projected that Ukraine’s economy will contract by about 20% this year. If a ceasefire can be negotiated in the next two months, the EBRD predicted Ukraine’s economy will bounce …
U.S. Trade Representative Tai, Congress Tussle Over Trade Policy Ambition, Priorities
POLITICO Pro (subscription) and AFP. The NAM says: In an interview with
Ukrainian Factories Face Supply Chain Stress
The Wall Street Journal (subscription). Factories struggle to maintain production: Ukrainian factory owners report that, since Russia’s invasion, dangerous roads, fragile utility networks and supply chain problems have made it difficult to fulfill orders and keep assembly lines running. Some factories shift gears: Ukraine has a sprawling agricultural sector that is held up by small …
U.S. Goods Trade Deficit Falls Slightly
U.S. Census Bureau. NAM Chief Economist Chad Moutray walked us through the numbers. The topline: “The U.S. goods trade deficit pulled back from a record $107.57 billion in January to $106.59 billion in February but remained very elevated, according to preliminary figures,” said Moutray. The factors: “These data continue to be skewed by supply chain …
