I laughed aloud at the part about Pauline Newman (though I know that wasn't the point of the piece). You do such a good job of making the behind the scenes people and news interesting. Thank you.
Wow! The footnote is as interesting as the article. I think the Major Questions Doctrine is a last desperate attempt by the high court to force Congress to do its job.
Thanks again for clear, cogent and crisp explanations and details rarely if ever covered by mainstream press. This compliments your ongoing AND superlative “uncovering” of the BBB.
Although not a legal argument, one could argue that tariffs will not solve the “Large and Persistent Annual United States Goods Trade Deficits” which is the emergency declaration justification for tariffs.
-China's dominance in solar panel stems from factors like lower production costs and a well-established supply chains. Even if the President puts tariffs on China’s imports doesn’t mean that U.S. made panels, with much higher production costs, will be competitive in China or world markets. Unless U.S. manufactures can bring down production cost to meet that of countries with cheap labor, U.S. products may not be competitive in overseas markets.
-Even if the tariffs reduce the U.S. market for foreign goods doesn’t mean that foreign markets will be forced to purchase U.S. products. Perhaps foreign countries will subsidize their manufactures so that their products will still be cheaper that the U.S. products. Or foreign citizens will be patriotic for their own country products and refuse to "buy American." Or foreign counties will find alternative trading markets instead of the U.S.
Now trade deals where foreign countries agree to purchase more U.S. agricultural products can reduce the trade imbalance but tariffs are not needed for a President to negotiate trade deals.
My belief is that tariffs are more about increasing government revenue than about righting trade imbalances.
And even that will prove ineffective in the long run if import tariffs cause the U.S. to decrease foreign imports and therefore decrease the tariff revenue over time.
ALOHA..CRY BABY ORANGE FACE TACOLOLO DOING UM' AGAIN....HIS GOING TO T.A.C.O....CRY BABY BULLY... “Fear is the tool of a tyrant, wielded to suppress independent thought. Instead of fear, let this moment fuel the fire that already burns at the heart of this place. A fire of righteous indignation at abuses of power.”
Another helpful explanation of how are court system operates and it shows clearly that they have the power to decide if Trump went too far with his tariffs. Of course we still have the SCOTUS next in line who have given him all kinds of support. Be interesting to see how this plays out. Thanks again.
The fentanyl emergency that Canada poses is a tiny fraction of the fentanyl that still flows across the US southern border, yet Mexico gets a tariff reprieve. The only emergency is a mad king, elected with less than a majority of all the votes cast.
So this is what it looks like when the loonies run the asylum?
Thanks Gabe! I truly love it when you take us behind the scenes like this.
What a great newsletter!!
I laughed aloud at the part about Pauline Newman (though I know that wasn't the point of the piece). You do such a good job of making the behind the scenes people and news interesting. Thank you.
My favorite kind of WUTP. Covers something I didn't know, but in such an understandable way. The last paragraph is worth it's own (shorter column)
Wow! The footnote is as interesting as the article. I think the Major Questions Doctrine is a last desperate attempt by the high court to force Congress to do its job.
Thanks again for clear, cogent and crisp explanations and details rarely if ever covered by mainstream press. This compliments your ongoing AND superlative “uncovering” of the BBB.
Very helpful Gabe, thank you so much for the clarity
Hi Gabe. I know I am just an old lady with silly things to say, but what if the president is the extraordinary and unusual emergency? Thanks.
Although not a legal argument, one could argue that tariffs will not solve the “Large and Persistent Annual United States Goods Trade Deficits” which is the emergency declaration justification for tariffs.
-China's dominance in solar panel stems from factors like lower production costs and a well-established supply chains. Even if the President puts tariffs on China’s imports doesn’t mean that U.S. made panels, with much higher production costs, will be competitive in China or world markets. Unless U.S. manufactures can bring down production cost to meet that of countries with cheap labor, U.S. products may not be competitive in overseas markets.
-Even if the tariffs reduce the U.S. market for foreign goods doesn’t mean that foreign markets will be forced to purchase U.S. products. Perhaps foreign countries will subsidize their manufactures so that their products will still be cheaper that the U.S. products. Or foreign citizens will be patriotic for their own country products and refuse to "buy American." Or foreign counties will find alternative trading markets instead of the U.S.
Now trade deals where foreign countries agree to purchase more U.S. agricultural products can reduce the trade imbalance but tariffs are not needed for a President to negotiate trade deals.
My belief is that tariffs are more about increasing government revenue than about righting trade imbalances.
And even that will prove ineffective in the long run if import tariffs cause the U.S. to decrease foreign imports and therefore decrease the tariff revenue over time.
Thanks for all the dialog!
ALOHA..CRY BABY ORANGE FACE TACOLOLO DOING UM' AGAIN....HIS GOING TO T.A.C.O....CRY BABY BULLY... “Fear is the tool of a tyrant, wielded to suppress independent thought. Instead of fear, let this moment fuel the fire that already burns at the heart of this place. A fire of righteous indignation at abuses of power.”
Fascinating!
Another helpful explanation of how are court system operates and it shows clearly that they have the power to decide if Trump went too far with his tariffs. Of course we still have the SCOTUS next in line who have given him all kinds of support. Be interesting to see how this plays out. Thanks again.
The fentanyl emergency that Canada poses is a tiny fraction of the fentanyl that still flows across the US southern border, yet Mexico gets a tariff reprieve. The only emergency is a mad king, elected with less than a majority of all the votes cast.
So this is what it looks like when the loonies run the asylum?
Market manipulation will be the end of wealth for the unwealthy