“Those who cannot see must feel:” global trade and tariffs edition – by New Deal democrat Before I get to today’s data, let me make this brief note on the tariffs that were announced late yesterday and the instant reaction overnight. As to the effect on the US and global economy, I really don’t have anything […]
The tariffs were always about extortion, soliciting bribes. They were never about helping the economy, balancing the budget, trade deficits or reducing taxes. “After multiple White House aides insisted that the new tariffs were not a negotiation, Trump said he would be open to negotiating with other countries about the duties. “Trump said he would […]
Things are moving so fast, that I am a day late with this. I argue that Trump’s insane tariffs will, in some cases, impose higher costs on US than foreign manufacturers. There are two key issues. First tariffs are charged the full value of a good, not the value added in the target foreign company. […]
I keep reading about how Tesla is in trouble. Well, yes, in the sense that its business model is a fail. But Tesla stock price has been defying gravity. Why? Probably because Musk, who is richer than God, can keep Tesla’s stock price afloat. How? Well as the commissar of DOGE, he’s managed to get […]
Trump called fallen American soldiers “suckers” and “losers.” Presumably because they didn’t find a podiatrist who could claim they had “bone spurs.” Now the Trump Administration is punishing living veterans for their service. In the latest episode: “The U.S. Department of Veterans Affairs said Thursday that it will end a mortgage-rescue program designed to help […]
I am eligible for an Italian passport which my brothers and sister will obtain also. Not sure as to whether I will use it any time soon due to how much our president impresses the world. I had some explaining to do in Germany when I was working there for six weeks. The US does […]
This is about a 12-minute read. It is most of the CBO report minus what I thought would be extraneous information, detail you may not need. I get lost in the detail and have to read it a few times. These are projections based upon various assumptions. Budgetary Outcomes Under Alternative Assumptions About Spending and […]
As one commenter to this post (23 cars and trucks said) said: It is only for cars meeting the requirements of USMCA like having 75% of the parts sourced from North America. U.S. goods and services trade with USMCA totaled an estimated $1.8 trillion in 2022. Exports were $789.7 billion; imports were $974.3 billion. The […]
– by New Deal democrat Along with all the other reports, yesterday the JOLTS survey was updated for February. This survey decomposes the employment market into openings, hires, quits, and layoffs, and so gives a more granular view. The question over the past year has been whether they best describe a “soft landing,” or “hard” […]
Just some thoughts on manufacturing and international trade I have seen and experienced over the decades. I worked in automotive (care and trucks) for the Tier1s supplying wire harnesses and other components to Chrysler, Ford, and GM. The company also did business with foreign car manufacturers. This particular company was Japanese. US components were shipped […]