Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
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opinion
Congress Should Reauthorize Trade Programs That Cut Tariffs for Americans
The House of Representatives voted unanimously Sept. 22 to reauthorize the Caribbean Basin Trade Partnership Act. The act is a trade preference program that eliminates tariffs on organic chemicals and textiles, and was up for renewal by the end of September. Although reauthorization of the program is a step in the right direction, Congress missed… -
opinion
DHS Puts US Companies on Notice: No More China Slave Labor
Federal agents seized a 13-ton shipment of human hair in July based on evidence the hair was taken from innocent people detained in Chinese internment camps. This was just the beginning of the Department of Homeland Security’s efforts to protect U.S. citizens from unknowingly funding China’s human rights abuses. Acting Deputy Secretary of Homeland Security Ken Cuccinelli… -
opinion
Combating the Tyranny, Waste, and Economic Devastation of ‘Green’ Agenda With Free Enterprise
This article is an excerpt from the “2020 Mandate for Leadership: A Clear Vision for the Next Administration.” It looks back at policy decisions made by the Trump administration over the past four years. You can purchase your copy of “Mandate 2020” here. Since publication of the last Mandate for Leadership, the Trump administration has taken… -
news
Treasury Department Sanctions Ukrainian Lawmaker Who Met With Giuliani
The Trump administration announced sanctions Thursday against a Ukrainian lawmaker who met last year with President Donald Trump's lawyer, Rudy Giuliani, and has pushed for a corruption investigation into the son of former Vice President Joe Biden. The Treasury Department accused Andriy Derkach of waging a pro-Kremlin disinformation campaign “in an attempt to undermine the upcoming 2020… -
opinion
Recovery of America’s Economy Surges, Thanks to Capitalism
As Washington has been frozen in debate about whether to pass massive new economic stimulus legislation, something interesting has happened in the real world. In the real world, Americans sent a message to politicians saying they can take of themselves just fine, thank you. The Bureau of Labor Statistics report for August just came in,… -
opinion
Unemployment Rate Drops to 8.4% as August Sees 1.4 Million More Jobs
The unemployment rate fell by 1.8 percentage points to 8.4% as the economy added 1.4 million jobs in August, the Bureau of Labor Statistics reported Friday. It was the fourth straight month that the economy added jobs and the unemployment rate fell despite the lingering COVID-19 pandemic, again upsetting experts’ predictions as the economy continued… -
opinion
Postal Service Lawsuit Is a Delivery of Pure Politics
The lawsuit filed last week by New York State Attorney General Letitia James against the U.S. Postal Service reads more like a 64-page list of talking points than a serious legal document. But that didn’t stop her colleagues in New Jersey, Hawaii, New York City, and San Francisco from joining the suit, giving a bicoastal… -
opinion
New Sultan Could Deepen US-Oman Ties, Strengthen Economic Freedom
Under the leadership of new Sultan Haitham bin Tariq, who came to power in January upon the death of his cousin, longtime ruler Sultan Qaboos bin Said, U.S.-Omani relations have embarked on a new chapter. Washington has a unique opportunity to build on the good existing relationship and to reaffirm Oman as a trustworthy partner… -
opinion
Expect US Agriculture Exports to China to Increase in Coming Months
Since the signing of the U.S.-China trade deal in January, much media focus has been on China’s agreement to buy over $142 billion worth of U.S. manufactured, energy, and agriculture goods this year. At this point in time, it is likely that China will fall short of its purchase agreement. However, there is ample reason… -
news
4 Big Moments From the House’s Postal Service Hearing
Postmaster General Louis DeJoy testified Monday before a House committee to address Democrats’ recent theories regarding actions taken by the U.S. Postal Service weeks and months before the November election. Voting by mail, either through absentee ballots or by universal mail-in ballots, is expected to be high this year because of the COVID-19 pandemic. As… -
opinion
As Growing Trade Partner, Vietnam Improves Economic Freedom
This year marks the 25th anniversary of the United States and Vietnam reestablishing diplomatic relations. Over the past 25 years—particularly since Vietnam’s accession to the World Trade Organization in December 2016, when the U.S. granted its former foe permanent normal trade relations status—U.S.-Vietnam economic and trade relations have expanded rapidly. The United States was Vietnam’s… -
opinion
What’s Really Going on With the US Postal Service
House Speaker Nancy Pelosi has called lawmakers back early to vote on legislation centered on the U.S. Postal Service. Pelosi and the Democrats asked Postmaster General Louis DeJoy and Postal Service Board of Governors Chairman Robert Duncan to come before the House Oversight and Reform Committee on Aug. 24, fast-tracking a hearing originally set for… -
opinion
Fact Check: Debunking 10 Myths About the US Postal Service
In 2020, we’re used to seeing falsehoods and misinformation spreading like wildfire online. Typically, they’re linked to breaking news, hot-button social issues, or scandals. The biggest focal point for online political drama today is an unlikely one; namely, the U.S. Postal Service. Representatives from both parties, conspiracy theorists, and even singer Taylor Swift are weighing… -
opinion
What’s Problematic About the President’s Extension of Unemployment Benefits
President Donald Trump took action five days ago to provide some coronavirus relief for Americans, saying he wasn’t going to wait for Congress. He signed one executive order and three executive memoranda addressing some of the issues. Policy experts will debate the merits of the actions, but one primary question is whether the president had… -
opinion
Can Ecuador Continue to Gain Economic Freedom?
Ecuador dramatically rose in rank in the 2020 edition of The Heritage Foundation’s annual Index of Economic Freedom. With an economic freedom score of 51.3 out of 100, it is the freest it has been in a decade. While the country’s economy is still considered mostly unfree, its recent progress is good news for centrist… -
opinion
Restoring Public Health and Preserving Economic Livelihoods Must Go Together
As policymakers continue to respond to the coronavirus pandemic, it is more important than ever to weigh the consequences of their public health decisions on jobs and livelihoods. The adage that “the treatment is worse than the disease” comes to mind when considering the lockdown’s effect on the economy. Take, for example, the findings of… -
opinion
Congress Needs to Do No Harm as Unemployment Falls to 10.2%
The U.S. economy added 1.8 million jobs in July and the unemployment rate fell to 10.2%, confounding experts’ predictions for a third month and showing signs of recovery as it slowly reopens after the COVID-19 shutdowns. Although the numbers from the U.S. Bureau of Labor Statistics continue to move in the right direction and more… -
opinion
Why Trump’s Washing Machine Tariffs Are Cronyism
President Donald Trump on Thursday visited a Whirlpool factory in Clyde, Ohio, to tout the benefits of his trade agenda for American manufacturers. Whirlpool claimed to have been injured by foreign competition in 2017 and got the administration to impose tariffs ranging from 20% to 50% on washing machines—and parts—imported by its competitors the following… -
opinion
Advancing Free Trade Helps Ensure Economic Empowerment of Women
The new U.S.-Mexico-Canada Agreement can benefit female business owners by reducing the cost of transporting goods and services across borders, participants underscored during a recent forum on “Women’s Global Trade Empowerment” hosted by the Commerce Department. Indeed, more practically utilizing the newly implemented trade pact among the U.S., Mexico, and Canada is a critical basis… -
news
Exclusive: ‘We’re Now Spending Our Grandchildren’s Future,’ RSC Chief Warns
Some 100 House Republicans are warning of a national debt growing “exponentially in perpetuity” and how that represents a financial burden for generations to come. “We’re now spending our grandchildren’s future,” Rep. Mike Johnson, R-La., told The Daily Signal in a phone interview Tuesday, ahead of the planned release on Wednesday of an open letter…