11/18/2018

News

California Ranks #1 In Sending Dollars Abroad For Energy

The USA is now a net exporter of crude oil, with crude oil exports exceeding imports. This oil boom is beneficial to 49 states, but not to California. The American shale boom has important security implications as well, as America is now less dependent on crude oil from the turbulent Middle East, again, except for […]

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Report Cites Weaknesses in Industries Vital to U.S. National Defense

U.S. industries tied to national defense face an “unprecedented set of challenges” that have weakened their ability to quickly make the aircraft, parts and other materiel the military would need to fight rivals such as China or Russia, according to a new White House report. The vulnerabilities stem from factors including receding industrial capacity across […]

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U.S. Trade Gap Widened in June

The U.S. trade deficit expanded in June at the fastest rate since November 2016, driven by a stronger dollar and buoyant economic growth. The trade deficit in goods and services increased 7.3% in June from the previous month to a seasonally adjusted $46.35 billion, the Commerce Department said Friday. Exports fell 0.7% from May, while […]

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Much of San Diego’s Recycling Goes to China and Now China Doesn’t Want It

Unbeknownst to most people, about half of San Diego’s recycled material is sent across the ocean to China. Now, that’s a problem. China no longer wants all of it. Unless city officials can quickly figure out another way to recycle material, some recyclables could end up in landfills. In recent months, China imposed new restrictions […]

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U.S. Judge Blocks Oakland Port’s Ban on Coal Shipments

A federal judge struck down a local ban prohibiting companies from transporting coal though an Oakland, California, export terminal that U.S. miners see as a key link to overseas markets. The ban enacted by the city in 2014 violates a development agreement, U.S. District Judge Vince Chhabria said Tuesday in a 37-page ruling. As demand […]

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Exporting Jobs Instead of Food

House Republicans are brawling over immigration again, and it could scuttle their farm bill. Most of the public debate focuses on the so-called Dreamers. But another big problem receiving less media attention is that the immigration restrictionists are detached from the reality of the American farm economy and a worker shortage that’s driving food production […]

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U.S. Foreign-Trade Deficit Narrowed in March

The U.S. trade gap narrowed sharply in March, partly reversing a widening in the deficit that followed hurricane-related disruptions late last summer. The international-trade deficit in goods and services shrank 15.2% from a month earlier to a seasonally adjusted $48.96 billion in March, the Commerce Department said Thursday. Economists surveyed by The Wall Street Journal […]

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Amid Trade Feud, Recycling Is in Danger of Landing on Trash Pile

The U.S. generates more recyclable waste than any other country. China is the top customer for that scrap. China bought two-thirds of the used paper and half the scrap aluminum that the U.S. sold overseas last year, according to the Institute of Scrap Recycling Industries Inc., part of an overall haul of 13 million metric […]

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U.S. Net Energy Imports in 2017 Fall to Their Lowest Levels Since 1982

Total net energy imports to the United States fell to 7.3 quadrillion British thermal units (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower. Gross energy imports have been generally decreasing from a high of 34.7 quads in 2007; however, […]

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Trade Deficit Hits Near Decade High, Raising Specter of Twin Deficits

The U.S. trade position worsened in February, raising the stakes in the Trump administration’s intensifying effort to narrow the gap between what the U.S. imports and what it sells abroad. The trade deficit in goods and services rose to $57.6 billion in February, the Commerce Department said Thursday, the sixth straight monthly increase and the […]

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Is this the end for the neoliberal world order?

Some of Trump’s actions, notably the proposed tariffs, may be crude and even wrong-headed but other moves, notably focus on China’s buying of American technology assets, expose the fundamental weakness of the neoliberal trade regime. Trump’s policy agenda would never have risen if neoliberalism was able to improve the lives of the vast majority of […]

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China’s Exports Surge Despite Trade Tensions

China’s exports surged unexpectedly in February, further widening its global trade surplus at a time when the Trump administration has put a special focus on the U.S. trade deficit with Beijing. Chinese exports jumped 44.5% in February from a year earlier, the General Administration of Customs said Thursday. Economists polled by The Wall Street Journal […]

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California export trade gets off to strong start in 2018

Coming off a strong 2017, California’s merchandise export trade maintained momentum rolling into 2018. Golden State businesses shipped merchandise valued at $13.7 billion in January, up from 3.2 percent $13.27 billion at the start of 2017, according to Beacon Economics’ analysis of U.S. trade statistics released by the U.S. Census Bureau.

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U.S. Trade Deficit Widened in January to Post-2008 High

The trade deficit widened further in early 2018, a deteriorating backdrop to President Donald Trump’s ramped-up efforts to close the gap with the help of tariffs. The U.S. trade gap in goods and services expanded 5.0% from the prior month to a seasonally adjusted $56.60 billion in January, the Commerce Department said Wednesday. It was […]

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There’s a Global Race to Control Batteries—and China Is Winning

There is a world-wide race to lock up the supply chain for cobalt, which will likely be in even greater demand as electric-car production rises. So far, China is way ahead. Chinese imports of cobalt from Congo, the world’s biggest producer of cobalt, totaled $1.2 billion in the first nine months of 2017, compared with […]

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