Relevant and even prescient commentary on news, politics and the economy.

Trump’s Success

Erica York from the Tax Foundation . . . Compared to what? The last week brought several retrospective analyses of President Trump’s first year of reciprocal tariffs, ranging from victory laps to selective trendline comparison to careful examination of what’s been learned.   It will take much longer to empirically estimate how the rapidly changing tariff environment is impacting an economy that is also subject to other […]

When “tariffs work,” they work at a cost

One story that drew attention last week was the sharp divergence between US aluminum prices and prices elsewhere in the world. The US premium passed $1 per pound for the first time ever, reflecting the higher costs US aluminum users now face relative to their foreign counterparts.   Some commentators characterized the development as a sign that tariffs are working, pointing to announcements that the US may see its first new aluminum smelting plant since 1980.  In fact, what is playing […]