The Art of the Empty Trade Deal
Trump’s Japan and E.U. deals offer vague promises and lack the depth and enforceability of the TPP he scrapped.
Japan
Trump's Trade Deals Won't End the Harm Caused by His Tariffs
In each case, tariffs remain much higher than they were before the deals.
Trump Seeks Even Higher Tariffs: 'Between 15 Percent and 50 Percent' on Imports From All Countries
The 10 percent baseline reciprocal tariff rate was bad for America; the 15 percent rate is even worse.
Trump's Tariffs and Japan Deal Could Encourage Toyota To Move Manufacturing Jobs Out of America
Trump believes he can deploy tariffs without tradeoffs or distortions. In reality, each new tariff move creates both.
Trump's 'Deal' With Japan Is Another Loser for Americans
Not only does it raise taxes on American consumers, but it leaves American automakers at a distinct disadvantage relative to their Japanese competitors.
Nippon Steel Will Finally Get To Buy U.S. Steel. The Deal Likely Ensures More Federal Meddling in the Future.
The federal government will reportedly get a "golden share" in U.S. Steel, potentially allowing it to overrule shareholders on some decisions.
Subaru Is the Latest Carmaker To Hike Prices in Response to Tariffs
Subaru says it has "adjusted its pricing in response to current market conditions," but we all know what that means.
Trump's Longtime Obsession With Trade Deficits Suggests His Tariffs Won't End Soon
Although the president's pride in his negotiation skills could save us, it is hard to see what sort of deal would address his grievance about the consequences of economic freedom.
Regulations Are Hurting Red Bull's F1 Performance
Instead of fixing its car, the team keeps shifting blame from driver to driver.
The Alien Enemies Act Is an Unconstitutional Affront to Civil Liberties
Like with the Japanese internment during World War II, the current move to deport alleged alien criminals is driven by hysteria.
The Best of Reason: Rise of the Samurai Lawyers
An economist explores how a stable and relatively just legal order emerged in medieval Japan.
Rise of the Samurai Lawyers
An economist explores how a stable and relatively just legal order emerged in medieval Japan.
With U.S. Steel Decision, Biden Turned His Back on Opposing Monopolies
Blocking Nippon Steel from acquiring U.S. Steel lays the groundwork for a major consolidation of American steelmaking that will harm consumers and the economy.
Why MAGA Is Fighting Over High-Skilled Immigration
Plus: A listener asks the editors about subsidies for trains, planes, and roads.
Blocking the U.S. Steel Sale Is a Perfectly Disgraceful End to Biden's Political Career
It's a disgraceful decision that serves as a perfect epitaph for Biden's political career.
Bootleggers and Baptists in the U.S. Steel Deal
Progressives and environmental groups have teamed up with a rival steelmaker to lobby against the U.S. Steel deal.
Trump's Vow To Block U.S. Steel's Sale Sends Stock Tumbling
Trump doesn't care much about free market principles or the limits of government power. But he should pay attention to this signal from the stock market.
Leave U.S. Steel Alone
Joe Biden, Donald Trump, Kamala Harris, and J.D. Vance agree that U.S. Steel needs to be controlled from Washington. They are all wrong.
Lessons for the U.S. from Japan's Lost Decade
Facing an economic downturn in the 1990s, Japan racked up debt. America should not repeat that mistake.
Biden and Trump Are Both Disastrously Wrong About Tariffs
Yes, cheap imports hurt some American companies. But protectionist trade policy harms many more Americans than it helps.
Review: An Anime Reboot About Japan's Transition From Feudalism
The protagonist's adversaries eventually embrace modernity.
A Magical World Where Government Discriminates Against the Nonmagical
The anime Mashle: Magic and Muscles offers an absurdist metaphor for politically driven discrimination.
Trump and Biden Both Get Globalization Wrong
Free trade brings us more stuff at lower prices.
Opposition to U.S. Steel Sale Shows How Similar Biden and Trump Are on Trade
Economic nationalists are claiming the deal endangers "national security" to convince Americans that a good deal for investors, employees, and the U.S. economy will somehow make America less secure. That's nonsense.
The U.S. Steel/Nippon Deal Should Be None of Joe Biden's Business
Both companies consented to the deal. Why should they have to get permission from the president to do business?
Review: Godzilla Minus One Rejects the Idea of a 'Noble Death' in War
Director Takashi Yamazaki brings to the screen the most dreadful version of Godzilla since the franchise began.
Politicians Need To Stop Pretending the National Debt Is Sustainable
The reality raises questions about the kind of future we want to leave for the next generation.
Over 300,000 Ohioans Are Employed by Foreign Companies. Why Isn't J.D. Vance Outraged?
Companies based outside the United States employ 7.9 million Americans. Foreign investment isn't something to be feared or blocked, but welcomed.
It's Not a Cigarette. It's Not a Vape. And It's Big in Japan.
Heated tobacco products are coming to America, at long last. How will they change the landscape for smokers and prohibitionists?
3 Economic Myths That Need To Die
As we step into 2024, it's crucial to adopt a more informed perspective on these dubious claims.
12 Increasingly Off-the-Wall Housing Reforms
American cities and states passed a lot of good, incremental housing reforms in 2023. In 2024, we'd benefit from trying out some long shot ideas.
Genre-Bending Anime Spy x Family Tackles Cold War Espionage
State power and oppressive surveillance serve as the backdrop for this animated spy comedy.
What J.D. Vance Could Learn From Reading Hillbilly Elegy
The senator used to know why the U.S. Steel/Nippon deal is nothing to fear.
Baseball Star Shohei Ohtani's New Contract Is a Massive Tax Avoidance Scheme. Nice!
He could save $98 million by dodging California's state income taxes with his unusual, eye-popping contract.
In Godzilla Minus One, Government Won't Save Anyone When the Crisis Comes
To fight the King of the Monsters, private citizens must band together.
Hayao Miyazaki's The Boy and the Heron Is a Dream-Like Swan Song for a Great Animated Filmmaker
A magical, mysterious deeply personal movie about creation and legacy. And also, murder parrots.
Politicians Say They Want To Fight Climate Change. So Why Are They Fighting China on Electric Vehicles?
Rather than posing a national security threat, the growth of China's E.V. industry is an opportunity for global innovation.
China Is No Economic Model for America
The country's current struggles show the problems of the Beijing way—and make the case for freedom.
Industrial Policy Isn't About Creating Jobs
It's a short-sighted approach that distracts us from the more important question.
China's Purchases of U.S. Land Stoke Bipartisan Panic, Just Like Japan's Did In the 1980s
People panicked in the 1980s that Japan's economic largesse posed a grave threat to American interests. Then the market reined it in.
The Government Is Subsidizing Microchip Firms—While Making It More Expensive To Produce Microchips
Politicians say they want to subsidize various industries, but they sabotage themselves by weighing the policies down with rules that have nothing to do with the plans.
The Jones Act Is Driving Up Prices and Making Crises Worse
The legislation, which forbids shipping anything between American ports in ships that are not U.S. built and crewed, is just another a special deal that one industry has scammed out of Congress.
The Answer to Population Decline Is More Immigration
Politicians' go-to fixes like child tax credits and federal paid leave are known for creating disincentives to work without much impact on fertility.
Mike Pompeo Says He 'Grew Up Libertarian'
These days, he may run for president. His politics have changed.
Markets Aren't Perfect, but Government Is Worse
The free market allows people to cooperate, fix errors, and adapt to changing circumstances.
