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#trade

182 posts107 participants61 posts today
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Zhi Zhu 🕸️

"On top of that, Trump can only impose tariffs (normally a power of #Congress) based on the International Emergency Economic Powers Act and the National Emergencies Act. Both laws require there to be an actual “emergency.” The only emergency here is that nobody in the administration understands what trade deficits are."
- @mmasnick

techdirt.com/2025/04/03/trump-

Text from article: You might notice something about that paragraph. It starts by describing how tariffs hurt the economy in the short term. Then there’s a “but” — which usually signals some kind of silver lining. Instead, it just pivots to explaining how tariffs hurt the economy even more in the long term. Cool. So we have a policy that: 1. Is based on a fundamental misunderstanding of trade deficits 2. Uses made-up numbers derived from a nonsense formula 3. Would actually make the “problem” it’s trying to solve even worse 4. Will definitely make Americans poorer But wait, it gets better. All of this glosses over the fact that “reciprocal tariffs” are not reciprocal at all. Trump’s team is making up fake tariff numbers for foreign countries based not on anything having to do with tariffs, but on trade deficits, which is just an accounting of inflows vs. outflows between two countries. It’s only reciprocal because the Trump team faked the numbers. On top of that, Trump can only impose tariffs (normally a power of Congress) based on the International Emergency Economic Powers Act and the National Emergencies Act. Both laws require there to be an actual “emergency.” The only emergency here is that nobody in the administration understands what trade deficits are.
#Trump#Tariffs#GOP
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Vittoria Pirone 🇪🇺

Prime Minister Mark Carney said Thursday that Canada will match U.S. President Donald Trump’s 25% auto tariffs with a tariff on vehicles imported from the United States. Trump's previously announced 25% tariffs on auto imports took effect Thursday. The prime minister said he told Trump last week in a phone call that he would be retaliating for those tariffs. FRANCE 24's Christopher Guly reports from Ottawa.
#Canada #US #tariffs #trade #economics #WTO #commerce

youtube.com/watch?v=8yQc0wzJMXU

YouTubeCanadian prime minister says Canada will match US auto tariffs • FRANCE 24 EnglishBy FRANCE 24 English
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Emeritus Prof Christopher May

Three things about Trump's Liberation Day tariffs:

1. are they merely transactional? will concessions mean they'll be reduced/abandoned?

2. Trump is acting as if the US still controlled a large proportion of global trade; it doesn't, its around 13% of international trade (by value); which implies

3. If rather than retaliate, other countries' firms re-focus on regional markets (& states maintain free[ish] trade in those blocs], the harm may in the end be focussed on the US!

#trade#economics
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William Lindsey :toad:

"Markets around the world tumbled on Thursday after President Trump announced across-the-board tariffs on America’s main trading partners, including the European Union and Japan."

~ Joe Rennison, Danielle Kaye, River Akira Davis and Eshe Nelson

#Trump #tariffs #economy #recession #inflation #StockMarket #trade
/17

nytimes.com/2025/04/02/busines

The New York Times · Stock Markets Slide After Trump Unveils TariffsBy Joe Rennison
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