Gary Clyde Hufbauer
Peterson Institute
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Past articles by Gary:
For inflation relief, the United States should look to trade liberalization
With US inflation running at 40-year high rates, the Federal Reserve is signaling more interest rate hikes in 2022 and 2023. President Joseph R. Biden Jr. has also vowed to act against what he calls anticompetitive behavior by corporations. → Read More
How do digital services taxes work?
Policymakers are adopting digital services taxes to expand their tax bases in the era of digital cross-border trade. This explainer graphic shows how they work and how governments ensure they apply to only the largest firms. → Read More
Divergent climate change policies among countries could spark a trade war. The WTO should step in.
Two months before the next big United Nations climate conference in November, the three biggest greenhouse gas emitters—the United States, Europe, and China—are at loggerheads over how to reduce reliance on fossil fuels without excessively disadvantaging their own economies. → Read More
Memo to Congress on how to reclaim oversight of US trade policy
Background: Article I section 8 of the Constitution assigns Congress the power to regulate commerce with foreign nations. Over the past century, however, Congress has enacted more than a dozen statutes that delegate its constitutional power to the president. → Read More
USTR Lighthizer's great leap backward on trade
In his latest defensive salvo over his unsuccessful trade policies, the Trump administration’s top trade envoy, US Trade Representative (USTR) Robert Lighthizer, is making the case for more trade wars, 18th century mercantilist thinking, and rewriting of history of the world economy in the last 7 → Read More
The high taxpayer cost of "saving" US jobs through "Made in America"
President Donald Trump and presumptive Democratic presidential nominee Joe Biden differ on many issues, but government procurement is not one of them. → Read More
COVID-19: How far will global merchandise trade fall?
The global recession resulting from the COVID-19 outbreak has already taken a toll on trade. → Read More
Managed trade: Centerpiece of US-China phase one deal
The new US-China agreement commits China to buy an additional $200 billion of US goods and services during 2020 and 2021, over its → Read More
The USTR Tariff Exclusion Process: Five Things to Know About These Opaque Handouts
President Donald Trump's tariff war with China has been under way for about 18 months. → Read More
Will Pelosi Allow a House Vote on USMCA?
President Donald Trump really, really wants Congress to approve the United States-Mexico-Canada Agreement (USMCA) to prove he can land a big “deal” on trade. House Speaker Nancy Pelosi (D-CA) holds the key to his dream coming true. But will she call a vote before 2019 ends? → Read More
Where Do Democratic Presidential Candidates Stand on Trade?
Even after two years of President Donald Trump's pitched assault on trade agreements, and his imposition of wide-ranging tariffs, trade is not a top subject of public debate. → Read More
Steel Profits Gain, but Steel Users Pay, under Trump’s Protectionism
At the center of President Donald Trump’s industrial policy has been his pledge to bring back jobs in the steel industry by slapping tariffs on imported steel. On March 23, 2018, he imposed a 25 percent duty on nearly all steel imports. → Read More
Under the Hood, the USMCA Is a Downgrade for North America
Since campaigning for the White House, President Trump has repeatedly called the North American Free Trade Agreement (NAFTA) the worst trade deal ever made. Trade negotiators have branded its intended replacement, the US-Mexico-Canada Agreement (USMCA), a “modernized” improvement. → Read More
Sino-US Economic and Trade Relations in the Global Economy
The Peterson Institute for International Economics (PIIE) and the Chinese Academy of Social Sciences (CASS) held a major conference on “Sino-US Economic and Trade Relations in the Global Economy” on September 17, 2018. The Honorable Jacob J. → Read More
Would Trade Promotion Authority Apply to Ratification of the US-Mexico Free Trade Agreement without Canada?
Last week President Donald Trump notified Congress that he intends to sign the US-Mexico Free Trade Agreement in 90 days, towards the end of November, whether or not Canada joins the pact. → Read More
Will $12 Billion in Relief Keep Farm States Voting Republican?
In a frantic effort to counter the effects of its trade wars, the Trump administration let it be known on July 24 that it planned to spend $12 billion on farmers hurt by foreign retaliation in response to Trump's tariffs. → Read More
The Dispute Settlement Crisis in the World Trade Organization: Causes and Cures
Since its inception in 1995, the World Trade Organization’s (WTO) dispute settlement mechanism has resolved an impressive number of trade disputes and has earned a reputation as the “crown jewel” of the global trading system. Today, however, the mechanism is in crisis. → Read More
The Dispute Settlement Crisis in the World Trade Organization: Causes and Cures
Since its inception in 1995, the World Trade Organization’s (WTO) dispute settlement mechanism has resolved an impressive number of trade disputes and has earned a reputation as the “crown jewel” of the global trading system. Today, however, the mechanism is in crisis. → Read More
Can Trump Terminate NAFTA?
President Trump’s longstanding threats to terminate the North American Free Trade Agreement (NAFTA) seem closer than ever to being realized. → Read More
"Buy American" Is Bad for Taxpayers and Worse for Exports
“Buy American,” while not new, features prominently in President Donald Trump’s array of trade policies. The practice of shutting out supplies from abroad originated in the Great Depression, alongside the infamous Smoot-Hawley Tariff. → Read More