@loyaladvisor Maybe strangely,Canada’s best leverage in negotiations about Trump threats and actions are that (1) the threatened actions are bad for Americans, whether or not Canada retaliates; and (2) Americans (other than Trump and Navarro) like Canadians and are baffled
@jr_bohl@FreeTradeBryan Navarro has a doctorate in economics from Harvard some time in the 1980s, which should be investigated. But his current position owes to his willingness (eagerness?) to go to jail for refusing to tell congress about the nothing he knew about January 6.
Four theses on tariff impacts:
1. Evidence clearly shows they've added 0.5-1.0pp to inflation. Evidence consistent with them subtracting from growth. And no evidence they've done anything good for manufacturing or trade deficits (but they have raised revenue).
@Brad_Setser Left out a critical “not” in my response above. As in we are NOT necessarily contesting your economic concerns, but rather that those concerns trigger the tariff authority of section 122.
@Brad_Setser Those of us who doubt the President’s authority to impose tariffs under section 122 (as he has) are necessarily contesting your views that there are problems in all you set out. Rather, we are contesting that these problems fit under section 122 as a matter of law and..
@Brad_Setser Aside from your argument that there are problems that you think would fit under section 122 and trigger the President’s authority, what did you think of my other issue: whether the tariff actions authorized by section 122 would solve any of those problems.
@Brad_Setser Do you think the tariffs Trump is imposing under the claimed authority of 122 will fix the economic problems that he says trigger his tariff authority. Hasn’t helped so far
@AnaSwanson So far, none of Trump’s 2.0 trade or investment “deals” have been completed in the sense of creating an agreement legally binding on either side or anybody. In fact, the ones I have seen are expressly not legally binding. Is the “deal” with Taiwan any different?
@snlester By “effective”, he may have meant “no annoying neutral adjudicators to make it embarrassing when the boss does what he wants, when he wants, nut even that seems too much for 2.0
@JustinWolfers , @jasonfurman would you please tell everybody including trade journalists that imports do not reduce GDP. I know it is elementary, but even the WSJ and NPR need reminding
@MAAWLAW Very surprised. Trump had loaded his gun, taken off the safety, practiced his scariest look in the mirror at least 20 times, pointed that gun straight at his head and even said he wasn’t kidding.
Why does Trump family keep building resorts in foreign countries instead of in red states? Why are his golf courses out of reach for MAGA? How about Trump family starts bringing their own biz back to the USA and pricing things for average folks before lecturing others? Hypocrite in chief rarely practices what he preaches.