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.
President Vladimir Putin’s threats to retaliate for further sanctions on Russia set the stage for escalating economic warfare that may have painful effects for U.S. and European companies.
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.
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.
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.
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.
"Russian memories are long and if things return to normal in two years, those who left will be remembered and not be invited back."
- Gary Hufbauer on Nov 13, 2014