National Review: Riffs and Tariffs
Recently, the company has been hit first by Trump’s metal taxes, then by the general import taxes (which affected their parts supply), and finally by the retaliatory taxes on American imports levied by the Chinese government. The company’s travails serve as a good example of how government policy affects people on the ground — and as a cautionary tale about the ramifications of Congress’s granting the president unilateral power to make trade policy.
RealClearPolitics: Trade Deal — or Lack of One — Is Key in N.D. Senate Race
In the upper Midwest, the brisk autumn air has already signaled the annual harvest season. But farmers in North Dakota, where an election in two months could be pivotal in the fight for control of the U.S. Senate, are feeling another kind of chill: They fear that President Trump’s trade battles have created lasting obstacles to their livelihoods.
So, when the President took to Twitter and declared that trade wars are good and that they are easily winnable and that the US was built on tariffs, that was genuinely new information. He was a trade warrior, or at least a trade weekend (and late night) Twitter warrior. Manufacturers changed their outlook, apparently in response to this. They dialed down expectations.
American Spectator: States Warn Investors of
States are telling bond investors that the increasing trade wars stirred up by President Trump’s tariffs could have negative impacts on their financial bottom lines. In documents outlining recent bond sales, Illinois and Washington cautioned investors about the impact of tariffs. Reuters points out that those are two of the top five exporting states. Illinois, a state with a poor financial record, said the trade disputes could hurt the states’ agricultural and manufacturing industries, which are among the most robust such industries in the country.
Washington Examiner: Trade deficit jumped in July as imports soared, despite Trump’s tariffs
The U.S. trade deficit jumped in July as imports soared, despite President Trump’s attempts to change the balance of trade through tariffs. The increase followed China’s imposing retaliatory tariffs on the U.S., suggesting that the threat of a trade war is not quickly lowering the trade deficit. The Commerce Department reported Wednesday that the trade deficit grew 9.5 percent July to $50.1 billion, up from $45.7 the previous month.
Washington Examiner: Business groups urge Trump to pull back on China tariffs
About 150 business trade groups signed a joint letter to U.S. Trade Representative Robert Lighthizer Thursday urging that the Trump administration not go ahead with planned tariffs on $200 billion worth of Chinese goods. The administration is reportedly planning on instituting them as early as next week.
The Weekly Standard: Ron Johnson Talks Tariffs With Peter Navarro
The senator’s state of Wisconsin has been hit hard by the tariffs, as well as an array of retaliatory tariffs that other countries imposed in response on a variety of American products, such as Milwaukee-based Harley Davidson motorcycles.
National Review: The Executive Runs Amok
In characteristic fashion, President Trump proclaimed his new tariff package via Twitter. He boasted of the “massive Tariffs we may be imposing on China,” and then noted that they may cause Apple products’ prices to rise… Tariffs, after all, are a tax imposed on American buyers and manufacturers, not “on China,” and the price rises they cause won’t be limited to Apple products, but instead will be seen through the economy as a whole, including on products from industries that source their parts domestically.