Donald Trump forces me to learn another obscure trade remedy (from the 1930’s). I’m pretty certain this will not achieve any economic goals, and yet sustain economic and trade policy uncertainty.
Figure 1: EPU (blue, left scale), EPU trade (green, right scale). Source: policyuncertainty.com.
Off topic but The 2026 Billionaire Tax Act is a proposed California ballot measure that would impose a one-time 5% wealth tax on California residents whose net worth is $1 billion or more. Sounds good but some lawyer on LinkedIn just told folks everyone hates the idea. He got my eye by promoting himself as some expert on intercompany financing (he’s actual an arrogant know nothing) but his client list? California billionaires. Linkedin is the new Twitter?
Oh come on Menzie – Trump is still reeling that FIFA was not happy that he tried to take over the celebration of the Spanish World Cup champions. Yes – let’s take the mess out of Spanish goods (EU – hah) and of course anything that comes from Canada. Like our wildfires never travel north.
http://www.foxnews.com/politics/trump-bet-tariffs-would-bring-back-american-factory-jobs-new-report-says-didnt-work
Fox News highlighting conservatives who have turned on Trump with respect to tariffs.