Tag: tariffs

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Potential carbon tariffs have been an active topic at the United Nations climate conference that wraps up this weekend in Madrid, where nearly 200 nations have been at odds over how to counter the continued global rise of greenhouse gas emissions. And some diplomats say it’s inevitable that governments will turn to trade barriers in […]

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Apparently not, because our president continues to display the most abject, shameful, and embarrassing ignorance about the subject. He repeatedly asserts that they’re being paid by China, whereas every thinking being knows that this is not the case and that they’re paid by American businesses, and only by American businesses. Here’s a Trump tweet from […]

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Contributor Post Created with Sketch. For a Better America and World, Free and Open Trade

 

Trade is good for America. This from the Trump administration’s Office of the US Trade Representative sums up the benefits well: “The United States is the world’s largest economy and the largest exporter and importer of goods and services. Trade is critical to America’s prosperity — fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.”

With apologies to Han Solo in Star Wars: The Force Awakens, “Crazy thing is, it’s true. The faster growth, the higher living standards — all of it. It’s all true.”

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Jim Geraghty of National Review and Greg Corombos of Radio America discuss ongoing negotiations between the United States and Mexico concerning border security and tariffs. They also roll their eyes as Joe Biden flip-flops a third time on his longtime support for the Hyde Amendment, which bans federal funding for abortion. And they get a […]

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Jim Geraghty of National Review and Greg Corombos of Radio America are glad to see Senate Republicans expressing major reservations over the Trump administration’s proposed tariffs against Mexico. They also discuss Parkland Officer Scot Peterson facing criminal charges for his non-response to the Stoneman-Douglas High School shooting and wonder whether the charges are appropriate for […]

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We recently had a great conversation with trade expert, Clark Packard of R Street Institute. We discuss the lifting of the steel and aluminum tariffs on Mexican and Canadian imports, the prospects for ratifying USMCA, and the tools available to address Chinese trade abuses. Packard lays out his case that the US has more tools […]

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Alexandra DeSanctis of National Review and Greg Corombos of Radio America cheer Democratic Louisiana Gov. John Bel Edwards for making good on his promise to sign pro-life “heartbeat” legislation that was also sponsored by a Democrat. They also shudder as a pro-life lawmaker in Illinois explains just how expansive pro-choice lawmakers there want to make […]

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I know this tweet is 18 days old, an eternity in Trump Twitter time, but I’ve only just seen it. I had to read it twice to grasp the staggering level of economic ignorance it displays. Our toddler president states, with his customary disdain for orthographic convention, “Tariffs will bring in FAR MORE wealth to […]

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Welcome to the Harvard Lunch Club Political Podcast for May 15, 2019 it is the FREE LUNCH (Yesss!) edition of the show, number 224 (omgggg) with you charmingly lunchable hosts radio guy Todd Feinburg and AI guy Mike Stopa. This week, we begin with an assessment of the Dems race to the bottom. Who can […]

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Contributor Post Created with Sketch. When Government Emphasizes Production Over Consumption: Washing Machine Edition

 

The new thinking on the populist right is that US economic policy has long focused far too much on consumption vs. production. Making stuff is important, too! But what does a change in emphasis look like in the real world?

Well, a new research paper from economists at the Federal Reserve and the University of Chicago seems to give a pretty good idea. In “The Production Relocation and Price Effects of US Trade Policy: The Case of Washing Machines,” Aaron Flaaen, Ali Hortaçsu, and Felix Tintelnot find that President Trump’s decision to impose tariffs on imported washing machines did create about 2000 jobs as foreign companies shifted production here — but at a cost $820,000 a job. Although the tariffs generated $82 million for the US Treasury, they also raised consumer prices by $1.5 billion.

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Contributor Post Created with Sketch. It’s Still Unclear What the US-China Trade War Is Really All About

 

“Jaw, jaw is better than war, war” is one of those well known Winston Churchill quotes that Churchill apparently never said. (Or at least not exactly like that.) But it’s still a pretty catchy phrase and not a bad first instinct. So from that perspective, perhaps, the results from the US-China trade negotiations in Buenos Aires are to be welcomed. Talks resulting in an agreement for more talks over the next three months is a pretty good alternative to a severe intensification in the ongoing trade conflict between the nations.

So here we are: The American tariff rate on $200 billion in imports from China will stay at 10 percent rather than rising to 25 percent. And China, according to the Trump administration, will “purchase a very substantial amount of agricultural, industrial and energy, products.”

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Last week, the United States and Canada failed to reach an agreement on the ongoing NAFTA 2.0 renegotiation. Going into last week it was widely expected that any NAFTA deal would need to be concluded by the end of August. Nevertheless, Canada and the United States resume talks this week. Instead of closing the deal […]

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Contributor Post Created with Sketch. Richard Epstein on Classical Liberalism, the Administrative State, Free Speech, and Silicon Valley Regulation

 

For this week’s Big Ideas with Ben Weingarten podcast, I had legendary classical liberal legal theorist and longtime professor at University of Chicago Law School and now at NYU Law — and prodigious Ricochet podcaster Professor Richard Epstein on the podcast to discuss among other things:

  • The role that Professor Epstein’s famous book, “Takings” played in Justice Clarence Thomas’ confirmation hearing — and then-Senator Joe Biden’s hectoring
  • Professor Epstein’s groundbreaking theories on private property rights, eminent domain and the Takings and Commerce Clauses
  • The practical argument against progressivism
  • Whether we should deconstruct the administrative state, and if so how to do it
  • The danger to free speech emanating from college campuses in a world of microaggressions, trigger warnings, de-platforming
  • The folly of regulating Silicon Valley social media companies
  • Classical liberalism versus socialism and libertarianism

You can find the episode on iTunes, everywhere else podcasts are found or download the episode directly here.

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Jim Geraghty of National Review and Greg Corombos of Radio America are pleasantly stunned to see the 9th Circuit Court of Appeals uphold the right to carry a firearm in public. They also roll their eyes as New Jersey Sen. Cory Booker suggests supporting Supreme Court nominee Brett Kavanaugh makes one “complicit in evil.” And […]

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Jim Geraghty of National Review and Greg Corombos of Radio America are not thrilled to see that alleged Russian spy Maria Butina conned Obama administration officials, but they do welcome the evidence that Russia was infiltrating everywhere and not just getting cozy with the GOP. They also sigh as the Tax Foundation concludes that President […]

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Milton Ezrati joins Seth Barron to discuss President Trump’s talk of tariffs, China’s vulnerability in a potential trade war with the United States, and the history of the global trade order. A tumultuous recent meeting of the G7 nations, trade disputes with Canada, and tariff threats against China all point to a shakeup of world trade. While the global economy would likely suffer in a […]

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At the recent G7 Summit, all was not well. Trade imbalances were discussed, with US President Donald Trump going so far as suggesting everyone throw all tariffs out the window with the bath water, and even the playing field once and for all. Then the rumors started….. that Trudeau started sweating after that comment and […]

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Contributor Post Created with Sketch. Trump’s G7 Free Trade Zone Is a Breathtakingly Ambitious Idea. But Has It Been Thought Through?

 

President Trump’s idea to turn the G7 into a free trade zone strikes one as a bit impulsive and underthought. After all, the Trump trade record this year seems to suggest a different direction, from solar panel and washing machine tariffs back in January to the steel and aluminum tariffs in March to China tariffs perhaps coming up.

Of course, none of that makes a G7 free trade zone necessarily a bad idea. Not at all. In theory, at least, it’s a remarkable one, breathtaking in its ambition. As Financial Times trade reporter Shawn Donnan writes:

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Oh, dear. He’s at it again. Basking in his ignorance of economics, revelling in it, proclaiming it from the rooftops. More

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Matthew Chapman provides on Twitter the best take I’ve yet seen on the lunatic, counterproductive tariffs introduced recently by our grotesquely, staggeringly, eye-wateringly ignorant president, who knows as much about economics as he does about Proca’s equations of the massive vector boson field. Here’s the essence of Chapman’s take: The one thing that you need to […]

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