International Trade Administration

Uh, any sort of misalignment there is just going to naturally lead to a trade imbalance that might not necessarily be the result of unfair trade practices.

For example, Madagascar, which is described by the International Trade Administration, a US institution, as not having significant formal non-tariff barriers to trade, and whose only levy seems to be a 20% value add tax on imports, is shown here as charging a 93% tariff and being subject to a 47% tariff, all because of their large trade deficit with the United States, which makes sense because the average monthly salary in Madagascar is around $230 a month.

So it makes sense that we'd see wealthier American households and companies buying more cheap products from Madagascar than we'd see Madagascar companies and households buying from the United States.

Again, trade deficits can be a signal of a country's prosperity.

It is already happening.

According to data last year from the International Trade Administration, the human share of work tasks in the Philippines is expected to decline from forty-three percent currently to just twenty-six percent by twenty thirty, while the share of job tasks done by completely non-human automated technology will increase to thirty-eight percent.

AI-proof job.

While upskilling the workforce through the standard and vocational education systems to stay in step with the march of technology is important and should be given structured attention by the government, making it the priority in policy management of workforce development is a focus on diminishing returns.

Thank you very much.

Joining me today to explore these questions and more is my very special guest, David L. Fogel, Assistant Secretary of Commerce and Director General of the United States and Foreign Commercial Service for the International Trade Administration at the U.S. Department of Commerce.

David, welcome to the show.

It's great to have you.

Great to be with you.

Thank you.

So can we start off – for folks who may not be familiar with the agency you're with, could you describe for us global markets and the U.S. Foreign Commercial Service, its mission, its scope, and where it sits within the International Trade Administration?

Yeah, absolutely.

what better way to take over the minds and souls of someone than with money So I mean whoever is wanting to put that dollar there.

I mean from what I understand, I mean according to YouHoo Finance, International Trade Administration, Taiwan produces about 70% of microchips in the world and 90% of its semiconductors.

Now you need those – what is it called? Rare earth minerals? the semiconductor thing and it's what they're using to build all of these data centers so taiwan's a very important strategic area and if i were some global gangster um i would just offer money and protection and so it usually works you know usually i mean through history but um We're looking at a time when the U.S.

had offered the Gulf states money and protection, and it didn't deliver on either side, on either point.