Researcher @equitablegrowth focused on workers and trade.
Washington, DC
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Chris Bangert-Drowns retweeted
"Framed against the Trump administration’s missions of containing domestic inflation and sparking a manufacturing renaissance, a trade war with Canada is nothing short of self-sabotage."
Read more from @cbdecon on how Section 338 tariffs are affecting U.S. and Canadian economies ⬇️
equitablegrowth.org/trumps-t…
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Canada's expected tariff retaliation today applies to only a slice of the country's total imports from the U.S., so immediate harm should be limited, but U.S. escalation could threaten a much wider economic base including the auto industry.
(thread originally from two weeks ago)
The collapse of trade talks with Canada puts the U.S. on unsure footing with its second-largest trading partner. The over 10% of all U.S. imports originating from our northern neighbor have faced a lower average tariff rate compared to other countries, but that could soon change.
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The collapse of trade talks with Canada puts the U.S. on unsure footing with its second-largest trading partner. The over 10% of all U.S. imports originating from our northern neighbor have faced a lower average tariff rate compared to other countries, but that could soon change.
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U.S. manufacturers depending on parts from Canada, particularly in northern states, could be forced into procuring costly inputs from more distant sources, including Mexico and East Asia, just as the U.S. is threatening a “transshipment” crackdown on those areas.
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U.S. manufacturers depending on parts from Canada, particularly in northern states, could be forced into procuring costly inputs from more distant sources, including Mexico and East Asia, just as the U.S. is threatening a “transshipment” crackdown on those areas.
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🧵 Digging into this morning’s tepid jobs numbers highlights some key weaknesses in the U.S. economy. First, participation continues to erode - an estimated ~264k people left the labor force in July, following a ~720k decline in June.
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The U.S. economy is facing headwinds from elevated input costs, the seemingly intractable conflict with Iran, and policy uncertainty around trade and industrial investment. A weak labor market is both a symptom of those headwinds and a source of potential complications itself.
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🧵New tariffs taking effect this morning represent a deepening of this administration’s strategy of trade chaos and are a threat to U.S. workers and the economy under a thin justification of opposing forced labor.
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Tariffs and a seemingly intractable (and avoidable) war in Iran are combining to produce chaos in global trade, suppressing economic growth across the planet, and threatening the dynamism and hegemony of the U.S. economy.
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Read the latest on tariffs from @equitablegrowth: equitablegrowth.org/the-cost…
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