I don’t pay close attention to prices of groceries, but the other day, I saw the price of pork chops and said to myself “darned if that isn’t remarkably cheap for pork chops.” So tonight’s dinner has inspired me to give thanks for DJT’s actions.
Category Archives: Trade Policy
2017 Export to China Dependence, by State
Using Census and BEA data, one can assess at least in first order terms, what states will be impacted by tariffs against US exports — as well as the CNY depreciation that has occurred in the last few months.
As the CNY Goes, East Asia Goes…Maybe
For whatever reasons — capital outflows, PBoC non-intervention — the yuan has depreciated substantially since the Trump administration has announced Section 301 actions against China. This has implications not just for the CNY/USD exchange rate, but also other East Asian currencies.
EconoFact: “Threats to U.S. Agriculture from U.S. Trade Policies”
EconoFact, today:
The agriculture sector in the United States depends upon exports for its vitality. Sales of U.S. agricultural products abroad are responsible for 20 percent of U.S. farm income, supporting more than one million American jobs on and off the farm, according to the U.S. Department of Agriculture. The three biggest buyers of American agricultural products are China, Canada, and Mexico. Yet trade with these three countries faces heightened uncertainty. The Trump Administration is in the process of renegotiating the North American Free Trade Agreement (NAFTA) with Canada and Mexico, which includes the option of exiting the deal altogether. In addition, the United States imposed a number of sanctions on our other trading partners, including China. These sanctions have spurred retaliation that has already harmed some agricultural exports.
Who Is Kudlow?
Is he Willoughby or is he Hillenkoetter, or neither?
Who Will Relent – Xi or Trump? On Actual and Perceived Payoff Matrices
NEC Chair Kudlow in response to the Chinese threat to impose tariffs on an additional $60 billion worth of goods (from Bloomberg).
“Their economy’s weak, their currency is weak, people are leaving the country. Don’t underestimate President Trump’s determination to follow through.”
Trade Policy Uncertainty in Our Times (II): Highest Level in Two Decades
Just in case you were still wondering.
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The Return of Global Imbalances (As Foretold)
Nearly a year ago, I asked Are Global Imbalances a Source of Concern?. At a minimum, we know they’re back. And the IMF certainly thinks so.
Who Will Help the Hogs?
Unlike soybeans, I’ve seen no rebound in hog prices (front month futures) with the announcement of the $12 billion farm bailout:
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Why Stop at $12 Billion?
The losses incurred by the ag sector might already exceed the size of the ag sector bailout proposed by Trump. One constraint is the WTO.
Credit: Russell Hodin, via Ian Bremmer. [added 7/26, 1:34PM Pacific]
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