One of the most important reasons for the success of Donald Trump's presidential campaign was his pledge to bring back manufacturing, and the good paying jobs it offers to the disintegrating families and communities in the American heartland. But crafting a policy to accomplish this has raised concern in both the United States and abroad of an attack on the Bretton Woods consensus. A robust tax-reform package along the lines of the Ryan-Brady House Blueprint recently developed in the House of Representatives would be key to delivering on Trump's promise. It would also go a long way to reducing the chronic trade imbalance that has drained the strength of the industrial sector, while limiting the possibility of a trade war.
Read Full Article »
