Gary Hufbauer News
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Exports from the U.S. are set to pick up in 2013 after slumping last quarter as global growth strengthens from Asia to Latin America, giving American manufacturers a boost.
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Republican presidential nominee Mitt Romney’s latest income tax cut proposal would be able to pay for itself by placing a cap on individual deductions, according to the Tax Foundation.
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American exporters from Dow Chemical Co. to Hewlett-Packard Co. are preparing for a further decline in demand from Europe as the region’s deepening debt crisis threatens to derail a source of strength for the U.S. economy.
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Republican Mitt Romney faulted President Barack Obama on trade by relying on a narrow definition of the president’s record.
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A proposal by President Barack Obama to reorganize U.S. trade agencies would force together departments that have different missions, something industry groups say may diminish effectiveness.
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China’s trade surplus may have exceeded $21 billion in November, set to match the biggest quarterly gap since 2008 and adding to pressure for yuan gains to appease U.S. lawmakers and cool inflation.
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Senate Foreign Relations Committee Chairman John Kerry said the U.S. Congress is “impatient” with the artificially low value of China’s yuan and may take action next year.
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The yuan had its biggest monthly loss since January 1994 after China’s government sought to support economic growth and the U.S. currency rallied.
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Swiss Reinsurance Co. and Munich Re , the world’s biggest reinsurers, are battling a proposed congressional bill that may reduce earnings from the U.S.
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President Barack Obama’s request for authority to streamline U.S. executive agencies was greeted with skepticism from congressional Republicans while Democrats questioned elements of his reorganization plan.
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