I wrote about plastic prices in yesterday's Odd Lots newsletter ahead of today's episode (which you should definitely listen to)
Packaging really is an underappreciated driver of inflation, and plastics prices are already spiking
You can't buy a bag of carrots without petroleum
Oof. This is like when the Raptors got rid of the original purple dinosaur jerseys. Generational fumble. In 20 years, they'll go back to the originals and all the junior lawyers are gonna love the retro look.
Trump's "big" trade deal is with the UK:
- It's a framework not a deal
- They're our 11th largest trading partner
- They're only 3% of US trade (97% to go)
- They *already* charge average tariffs of only 1% (limited upside)
It's a photo op, with little macroeconomic significance
We won't stand for President Trump using emergency powers to wage an unjustified trade war with Canada that will drive up prices and put jobs on the line.
I joined my colleagues today to speak about forcing a vote to block the Administration's across-the-board tariffs.
“You see, at first, when someone says, 'Let’s impose tariffs on foreign imports,' it looks like they’re doing the patriotic thing by protecting American products and jobs. And sometimes for a short while it works – but only for a short time. What eventually occurs is: First, homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets. And then, while all this is going on, something even worse occurs. High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less competition. So, soon, because of the prices made artificially high by tariffs that subsidize inefficiency and poor management, people stop buying. Then the worst happens: Markets shrink and collapse; businesses and industries shut down; and millions of people lose their jobs.”
https://t.co/h766khlSCh
Canadian firms continue to cut pro bono efforts, failing to sustain COVID-era upswing, survey shows. Law firms in Canada lag the UK, the US, and Australia in pro bono engagement.
Insights from Kathryn Beck, TrustLaw.
https://t.co/9ob8fDxQ5M
Jesse Marsch is outspoken on 51st state rhetoric.
"It's unsettling and frankly insulting... as an American, I'm ashamed of the arrogance and disregard we've shown one of our historically oldest, strongest and most loyal allies."