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.
Source: ino.com.
Reader PeakTrader says the fortunes of Minnesota and Wisconsin “began to diverge decade before Walker”. I don’t buy it.
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.
Still not the leader of the pack.
Regarding the slowdown in employment growth in February, reader Neil asks:
To what extent could the weakness in February be a payback for the outsized growth in December and January. The three month average for nonfarm growth in Wisconsin looks solid. Also, do you have any thoughts on the average hourly earnings data? Looks like Wisconsin is seeing strong growth over the last year.
Wisconsin nonfarm payroll employment for January revised down, flatlines for February.
Figure 1: Wisconsin nonfarm payroll employment, February release (dark bold red), January release (red), December (pink), 000’s, s.a, on log scale. Light green shaded period denotes data benchmarked to QCEW data. Source: BLS.
The latest harebrained idea from Mr. Trump — but I could believe it more than the Mexicans paying for the wall.
Because the value added of Chinese exports to the United States is fairly low (i.e., exports incorporate lots of foreign components), it is unclear how much damage would be inflicted on bystanders. Wells Fargo uses data on trade in value added to show Taiwan’s exposure.
