What is a border tax adjustment, why is this national tax policy relevant to the global economy, and what headwinds does the proposed policy face from World Trade Organization and the US executive branch? Listen to Council senior fellow on the global economy Phil Levy and the Peterson Institute's Gary Clyde Hufbauer discuss with Council vice president of studies Brian T. Hanson.
Phil Levy is senior fellow on the global economy at The Chicago Council on Global Affairs. Previously he was associate professor of business administration at the University of Virginia’s Darden School of Business. He was formerly a resident scholar at the American Enterprise Institute and taught at Columbia University’s School of International and Public Affairs. From 2003 to 2006, he served first as senior economist for trade for President Bush’s Council of Economic Advisers and then as a member of Secretary of State Rice’s Policy Planning Staff, covering international economic matters. Before working in government, he was a faculty member of Yale University’s Department of Economics for nine years and spent one of those as academic director of Yale’s Center for the Study of Globalization.
His academic writings have appeared in such outlets as The American Economic Review, Economic Journal, and theJournal of International Economics. He is a regular contributor to Foreign Policy magazine’s online Shadow Government section and writes on topics including trade policy, economic relations with China, and the European economic crisis. Dr. Levy has testified before the House Committee on Foreign Affairs, the Joint Economic Committee, the House Committee on Ways and Mean, and the US-China Economic and Security Review Commission. He received his PhD in Economics from Stanford University in 1994 and his AB in Economics from the University of Michigan in Ann Arbor in 1988.
Will the new NAFTA deal pass through Congress? The answer may depend on how it treats labor rights.
The anti-trade rhetoric of the 2016 presidential campaign resonated deeply in the Midwest, especially for individuals most directly affected by deindustrialization and the resulting job losses: those without postsecondary training and skills.
Inking the Asia Pacific trade deal is only step one, as obstacles remain to implementation.
Nearly four months into the NAFTA renegotiation, Mexico and Canada have potentially developed an effective response to the Trump administration's trade skepticism.
Nothing productive arises from criticizing Germany for its bilateral trade surplus, much less its auto exports.
It will be difficult to expedite the renegotiation of the 23-year old agreement in 2017, if not 2018
Targeting a realistic GDP growth rate requires more than a bidding war.
President Trump flipped his stance on labeling China a currency manipulator. But what qualifies as currency manipulation in the first place?
The bill for forgoing TPP is coming due. Perhaps its price will make the administration reconsider.
The clarion call of the disaffected, low-skilled worker became the soundtrack of the 2016 election. Indeed, President Trump claimed the presidency in no small part by promising to reverse the effects of globalization, railing incessantly against the US’s “horrible” trade deals. It does beg the question, though: Why didn’t anyone consider helping those alienated before? In fact, they did.
Mr. President! So glad you called. No, it’s not too early; I was up anyway. You wanted to know whether a strong dollar or a weak dollar is good for the economy. Excellent question.
What is a border tax adjustment, why is this national tax policy relevant to the global economy, and what headwinds does the proposed policy face from World Trade Organization and the US executive branch?
President-elect Trump has based much of his announced trade policy on the idea that bilateral trade deficits represent failure. Presumably better trade deals would deliver balance or a surplus. Here’s a primer on trade deficits
There are some surprising aspects to the way in which markets reacted in the immediate aftermath of the Brexit vote. There is enormous uncertainty about how Britain’s departure from the European Union will play out. But the early theme seems to be that the problem is a global one.