From Toles:
Imagine: US Effective Tariff Rates with Another $100 Billion Imports Covered
From Goldman Sachs, “How Easy Is It to Win a Trade War?” (Stehn/Hatzius) today:
Is There a Pattern? Trade Sanctions on China
From Bloomberg:
In light of China’s unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs.
Some Thoughts on Chinese Tariffs on US Exports: Tariff Incidence, Value Added, Exchange Rates
Reader Bruce Hall, opining on the impact of mooted Chinese tariffs on US hog and soybean exports.
As with pork, it looks as if the cost of food is going down for Americans as the Chinese bury their citizens in food price increases.
July Soybean Futures as of Noon, Today
Thanks, Trump!
Source: ino.
“Parts of floor polishers of subheading 8479.89.20; parts of carpet sweepers”
That’s HTS code 84799041, on the Section 301 hit list released today. Mr. Trump has the thanks of a grateful Nation for stopping intellectual property theft in this important category.
The entire list is here.
There’s a 30 60 day consultation period. Since around $50 billion of goods is targeted, China will likely impose proportional measures if and when retaliation occurs.
As you sow…
Another Event Study: Hogs
Source: ino.com.
When Did Minnesota and Wisconsin Fortunes Diverge?
Reader PeakTrader says the fortunes of Minnesota and Wisconsin “began to diverge decade before Walker”. I don’t buy it.
A Deceleration in Economic Activity?
Third release numbers on GDP are out. Growth of Gross Domestic Output — the average of GDP and GDI — is down much more than that of GDP: nearly a percentage point.