“Americans who enjoy German lagers, Belgian saisons, and Czech pilsners will get no relief from the higher tariffs that President Donald Trump has poured on their favorite brews.
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The deal locks in the 15 percent tariffs that Trump has imposed on most European goods imported into the U.S., but it also serves as a promise from the Trump administration not to target European goods with product-specific tariffs that could be announced in the coming weeks or months—including potentially huge new tariffs on pharmaceuticals, something the White House has been teasing for months. The deal also creates a pathway for the United States to reduce its tariffs on European cars to the 15 percent threshold, once the E.U. reduces some of its own tariffs on American industrial goods.”
“As President Donald Trump’s tariffs make life less affordable and predictable for Americans, they’re also threatening to make it less creative. American craft stores are struggling to keep up with ever-changing trade policies, which are making the foreign-made products they stock more expensive and difficult to access. Many foreign craft supply companies are now unable to ship to American consumers at all.”
““Deals with the Trump administration simply do not create the kind of lasting certainty everyone is desperate for, because certainty, predictability and strict fidelity to treaties are not White House objectives,” said Dmitry Grozoubinski, a former trade diplomat and author of the book “Why Politicians Lie About Trade.””
Because of the trade war, China is getting more agriculture goods from Brazil than the U.S.. China is building a port in Brazil to get even more from Brazil and even less from the U.S.. Too bad for U.S. farmers.
“The world’s supply of chocolate depends on the global trade of cocoa beans, which are grown exclusively in equatorial climates across Latin America, Africa, and Asia. The United States produces more chocolate than any other country in the world, but there would be no American chocolate-making businesses, large or small, without imports.
A lot of American manufacturing is like that too: U.S.-based businesses rely on imported raw materials when making everything from candy bars to new cars. Policies that make those inputs more expensive or difficult to obtain—policies such as the Trump administration’s tariffs—are leaving a bitter taste.
Chocolatiers, in particular, say trade barriers are a recipe for higher prices, lower quality, less innovation, and smaller profits. Doesn’t sound very sweet, does it?”
“Trump’s contention that Mexico and Canada could “easily solve” the drug trafficking problem was equally dubious. For more than a century, politicians have been promising to “stop the flow” of illegal drugs, and they have never come close to achieving that goal—not for lack of trying, but because the economics of prohibition doom all such efforts.
Prohibition allows traffickers to earn a hefty risk premium that provides a strong incentive to find ways around any barriers that governments manage to erect. Drugs can be produced in many different places, and they can be smuggled into the country in a wide variety of ways. Any serious effort to prevent drugs from entering the United States would entail intolerable disruption of travel and trade, and it still would not succeed. That challenge is magnified in the case of a highly potent drug like fentanyl because large numbers of doses can be transported in small packages that are hard to detect.
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Since Canada accounts for only a tiny percentage of fentanyl entering the United States, “flood” seems like an exaggeration. In any case, it is not clear what would qualify as “adequate steps” or “satisfactory resources” as far as Trump is concerned. Taking Trump at his word, there is no such thing, because there is nothing that Canada or Mexico can do that will be sufficient to achieve the impossible goal of stopping illegal drugs from entering the United States.”
Companies are worried about quarterly earnings. The U.S. does not have a plan B for long-term research. We need to maintain the funding and focus on research in universities. Many technologies that are changing the world today are based on university research from decades ago.
Trump’s trade agreements are not trade agreements. They are not even trade deals. They are more press releases. It’s likely that many of Trump’s tariffs won’t even be legal under U.S. law.