From Todd Tucker @ Eyes on Trade: Longtime readers will recall that we challenged the U.S. Chamber of Commerce to a data duel back in the fall. We scored two points to their one, and we promised we’d be back with even more nerdliness.
Now, the Dark Side has challenged us to a final duel, courtesy of a new report touting CAFTA. It arrives just in time for the January 1 implementation of CAFTA for Costa Rica, where nearly half of the voters rejected the pact in an unprecedented referendum, and the other half were scared to within an inch of their life by false Bush administration threats.
This time has arrived, fearless nomads, for the fair-trade force to strike back. The Chamber’s main argument is that U.S. exports have increased under CAFTA. This is true, but of course it is also the normal course of affairs. Barring unusual circumstances, U.S. exports increase with foreign income growth. Continue Reading