One of the biggest concerns about tariffs is the opportunities for rent seeking. The Trump administration is carving out exemptions, some quietly, some not so quietly, for favored groups.
This is a direct result of lobbying and may explain party why the stock market isn't moved much by tariff announcements anymore: the tariffs primarily impact the little guys who aren't listed.
If nothing else, this whole fiasco will be studies for years, a kind of natural experiment that will provide us new insights on trade and growth.
Thank you for writing your in-depth pieces! I appreciate how well you explain everything and connect dots for readers. Hope to see more, keep up the great work.
I think the Supreme Court will give back tariff - commerce and taxation authority - to the legislature. I’m curious how quickly the market and supply chains and deals adjust.
One of the biggest concerns about tariffs is the opportunities for rent seeking. The Trump administration is carving out exemptions, some quietly, some not so quietly, for favored groups.
This is a direct result of lobbying and may explain party why the stock market isn't moved much by tariff announcements anymore: the tariffs primarily impact the little guys who aren't listed.
If nothing else, this whole fiasco will be studies for years, a kind of natural experiment that will provide us new insights on trade and growth.
That experiment had already been conducted by developing countries with post-war import substitution policies.
Thank you for writing your in-depth pieces! I appreciate how well you explain everything and connect dots for readers. Hope to see more, keep up the great work.
I think the Supreme Court will give back tariff - commerce and taxation authority - to the legislature. I’m curious how quickly the market and supply chains and deals adjust.
Of course we should. And one of the reasons we should is that by tariffing some items, we subsidize non-tariffed items and tax exports.
I enjoyed reading your article. Thanks