The Commerce Department's Tariff Waiver Process Encourages Cronyism, Creates Shortages
U.S. Steel and other manufacturers are lobbying to block waivers, creating chaos along supply chains.
U.S. Steel and other manufacturers are lobbying to block waivers, creating chaos along supply chains.
The nation's GDP rose 4.1 percent in the second quarter, but those good numbers aren't likely to last.
The president's longstanding obsession with trade deficits reveals mercantilist instincts he cannot escape, no matter how much he talks about zero tariffs.
Europe already imports soybeans for free, and the European market isn't big enough to make up for China anyway.
It's too soon to call this a truce in the trade war. But we may have a temporary ceasefire.
Unsurprisingly, the bureaucratic, cronyist process for getting an exemption is not in fact protecting American steel jobs.
Tariffs are so great that we have to create new government programs to compensate the victims of tariffs.
He's so, so wrong about that. But at least he's admitting a trade war won't be good or easy to win.
All of them. $500 billion's worth.
Representatives of the auto industry are in Washington to deliver an obvious message to the oblivious Commerce Department.
Tariffs always divert resources toward government-favored firms and away from everyone else.
The United States has accused the victims of its tariffs of engaging in unfair and punitive measures with their retaliatory tariffs.
Tariffs let the government pick winners and losers-but sometimes even the winners get hung out to dry.
Food prices are rising, and they're likely to soar even more
But will Congress act to rein in Trump?
Amash wondered why Mitch McConnell and Paul Ryan even want to be leaders in Congress "if all they intend to do is outsource their jobs to the president."
Is Congress finally ready to get into the fight?
In Poplar Bluff, Missouri, support for Trump's tariffs is about tribalism more than anything else. That's dangerous and scary.
Trump's tariffs are just part of the problem.
Automakers, motorcycle manufacturers, the stock market, and even the White House's own analyses are telling Trump to change course.
The unseen costs of the Trump administration's bellicose trade policy matter too.
"It's all working out great," Trump said in South Carolina. Few people seem to agree with that assessment.
The E.U. retaliated against Trump's steel and aluminum tariffs. Now, whiskey drinkers will pay the price.
One government intervention into the economy begets another, and American businesses are caught in the chaos. Good and easy to win? Not so much.
It can do that because it's a global brand, but other businesses aren't as lucky. And workers everywhere stand to lose.
Commodities are falling across the board, but soybean farmers are taking the brunt. What's happening in Iowa is the perfect demonstration of why trade works.
Prices for steel, washing machines, and lumber spiked after Trump imposed tariffs on them. This time it will be different, right?
Another week, another bumbling trade declaration from the president.
June 12 was not a good day for free-market constitutionalism in the modern GOP.
It's a damned shame that he doesn't seem to really believe in it.
The outgoing senator wants to require congressional approval for "national security" tariffs, while the low-polling president taunts Flake about his low poll numbers.
The GOP betrays its principles for the sake of political expediency.
I mean, sure, that makes as much sense as any other reason.
Extending the justification would allow government intervention into just about anything.
Via trade and immigration restrictions, the president is completing the GOP's conversion to the party of economic micro-management.
Imports improve the economy and benefit the country.
And if other countries respond with similar tariffs, the U.S. could lose more than 600,000 manufacturing jobs.
Everything from preparations through recovery will be more expensive, thanks to tariffs on steel, aluminum, and timber.
Don't believe the administration's claim that this will hurt China.
If you tax something, you get less of it, and Trump's tariffs are a tax on making things-including cans, kegs, and the beer that goes into them.
Trump can impose car tariffs only by stretching the meaning of "national security" beyond recognition.
And it's cruel to tell people that government policy can reverse the decline.
Treasury Secretary Steven Mnuchin says Trump administration is withdrawing plan to impose 25 percent tariffs on $150 billion of Chinese imports.
Trump wants tariffs on 1,300 Chinese-made goods. Dozens of American businessmen and women are in Washington this week to explain why that's an awful idea.
"We should buy from them what they're good at; we should sell to them what we're good at," says Gary Cohn, who left the White House in March.
The Donald is more like The Gipper on trade policy than you think. And not in a good way.
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