Economy & Trade

Policy Priorities

Tax Relief for America’s Middle Class
Incentivize Job Creation for American Workers
Promote Wage Growth
Incentivize Onshoring
Ensure Access to Capital

The economic success of the nation is driven by the individual will and genius of free men and women aspiring to achieve their dreams and further prosperity for themselves and their families. Our nation declared its independence in part because of a system of commerce that did not put the prosperity of Americans first and hindered, rather than embraced, the individual aspirations of Americans. In establishing a new Nation, our Founding Fathers sought to unleash the power of entrepreneurship and free enterprise so that Americans “who are possessed of the spirit of Commerce—who see and who will pursue their advantages, may achieve almost anything”.

For years, the D.C. and global corporate elites, in the name of free trade orthodoxy, allowed markets and market efficiencies to be an overwhelming influence on policy decisions. Nowhere was that more evident than in the realm of international trade relations, where the United States repeatedly entered into deals that protected and promoted the interests of foreign workers, foreign agriculture, and foreign businesses — but not our own. American workers and American communities were ground beneath the inescapable “progress” that transformed the likes of Shenzhen and Reynosa into productive powerhouses — while the likes of Detroit, Cleveland, Milwaukee, and Pittsburgh — America’s industrial backbone — slid into decline. Free trade is an intrinsic good, but only if it is also fair trade, and the America First Policy Institute (AFPI) will advance policies that champion free and fair American trade.

The America First Policy Institute’s Economy & Trade is dedicated to advancing public policy that puts the prosperity of American citizens first, to restoring and preserving the American free enterprise system, to defending American workers and their families, to promoting growth that lifts up forgotten communities, and to celebrating the innovative spirit of the American people. It is through this spirit—when Americans are free to pursue and achieve their dreams—that American prosperity reached unprecedented heights and will continue to achieve more than ever thought possible. Economy & Trade will endeavor to research and educate the American public on policy grounded in the fundamental ideal that free Americans prosper.

CLICK TO READ THE TOP AMERICA FIRST ACTIONS TO UNLEASH AMERICAN PROSPERITY

Team

The Honorable Larry Kudlow

Chair of the Board and Chair, American Prosperity

The Honorable Robert Lighthizer

Chair, American Trade

Jeff Schlagenhauf

Director, Economy and Trade Policy

Jill Homan

Deputy Director, Economy & Trade, Campaign Director, and Senior Advisor to the President & CEO

Steve Moore

Senior Fellow

Kenzo Takeda

Policy Analyst, Economy and Trade

Jay Menees, Ph.D.

Senior Policy Analyst, Higher Education and Economy & Trade Policy

Latest

Fact Sheet | March 5, 2026

From War Measure to Daily Burden: Evolution of the Federal Income Tax

Born over a hundred years ago, the federal individual income tax has grown from around 5% of federal revenues in 1915 to nearly 50% today. Moreover, a small subset of Americans pays a growing and disproportionate share of the income tax, with the top 1% of income earners paying 40% of the tax, and the top 50% paying 97%, Given the government’s reliance on the income tax, questions persist over whether it is the best mechanism for funding government services without excessively burdening taxpayers or stifling the economy.

Commentary | March 2, 2026

Project Vault: Locking in America’s Strategic Supply

On February 2, 2026, President Trump, along with Chairman of the Export-Import Bank (EXIM) John Jovanovic, announced a new initiative to move U.S. critical mineral supply chains away from reliance on China. Project Vault establishes the U.S. Strategic Critical Minerals Reserve intended to store critical minerals essential to America’s defense and industrial supply chains in facilities across the United States.

Research Report | February 26, 2026

Aligning Postsecondary Education to Employment and Labor Market Outcomes

There is an implied understanding between the students who take on debt to attend college, the federal government that provides loans and grants on behalf of the student to pursue a degree, and the college that receives payment to provide education. The belief is that investments in higher education will lead students to gainful employment in a field related to their college major or program.

Commentary | February 5, 2026

Preserving Liberation Day Successes

The United States faces urgent economic and national security emergencies from ballooning trade deficits and the influx of fentanyl. The U.S. has run trade deficits for 50 consecutive years, a streak unparalleled in American history, reaching a record high goods deficit of $1.2 trillion in 2024. These consistent and widening trade deficits reflect an erosion of American global shares in key industries such as semiconductors and steel, eviscerating its manufacturing base at the expense of America’s most powerful geopolitical adversary, China.

Issue Brief | January 16, 2026

Rebuilding the American Dream: Homeownership for All Americans

Home ownership is increasingly out of reach, driven by price increases from low supply due to excessive regulations, immigration-induced demand spikes, high mortgage rates, and record debt burdens for young Americans. These limitations have severe economic and social effects, from reduced family formation to low economic mobility.