Topic Category: U.S.

There has been much loose talk of a new Cold War between the U.S. and China. Such a conflict would be potentially disastrous for both countries. Nor is it easy to imagine, given the extensive ties between both peoples. Even with both governments at sharp odds, the nations remain connected, much more so than the U.S. and Soviet Union.

Topic: U.S.



In the New York Times on Tuesday, May 5, Senator Josh Hawley (R-MO) proposed abolishing the World Trade Organization. On the next day came a flood of fact corrections from trade experts exposing the senator’s idea as the spawn of fallacies. Then, on that Thursday, conceding only that the United States can’t “abolish” the WTO, Hawley submitted a joint resolution to Congress calling for a formal withdrawal.

Topic: U.S.
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Protectionists have been emboldened by the Trump administration’s approach to trade policy, and some are now using COVID-19 as an argument to support their cause. In most cases, it’s not worth responding, but I don’t think of economics columnist Noah Smith as an economic nationalist, so if he is saying things along these lines, I feel like it merits a response. Here’s what he said in his recent column:

Topic: U.S.



The Covid 19 outbreak set the field, but the direct cause of oil’s crash last week reads from an old playbook. WTI has been on a freefall losing over $16 in two days, prompting a wider stock market sell off that created another Black Monday as the Dow dove 7% in a single day. The day saw trading halted for a 15 minute period in an effort to stop the bleeding, but once it resumed, so did the panic. All indicators suggest it will get worse.

Topic: U.S.



When I crossed through Checkpoint Charlie from West Berlin to East Berlin nearly 30 years ago, the failures of former East Germany were immediately obvious. The grey unkempt landscape and dilapidated buildings looked as though that country hadn't been repaired since American and Soviet tanks faced off yards apart decades earlier in one of the most tense nuclear showdowns.

Topic: U.S.
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This past week was an eventful one for trade policy, and not in a good way. In the trade world these days, no news is good news, and any tweets are probably bad news. President Trump’s trade policy has been stridently protectionist, abusive of the constitutional separation of powers, destructive to U.S. alliances, and fundamentally flawed as a strategy to achieve its stated goals.

Topic: U.S.
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Recently, a decades-old video of Donald Trump on “Oprah” circulated, in which Trump offered up all the same trade policy views he holds today: Our trading partners are cheating us, bilateral trade deficits are hurting the U.S. economy, U.S. negotiators have done a bad job with trade deals, and higher tariffs would help the U.S. economy.

Topic: U.S.
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Two back-to-back, stunning economic headlines arrived in less than twenty-four hours. The first appeared on March 5 in the Wall Street Journal: “U.S. Budget Gap Widened 77% in First Four Months of Fiscal Year.” Following on the heels of that shocker, Bloomberg on March 6 ran this headline: “U.S. Trade Gap Surged to $621 Billion in 2018, 10-year High.”

Topic: U.S.
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Aboard Air Force One on his way back from the G-20 summit in Buenos Aires, President Trump renewed his threat to withdraw the United States from the almost 25-year-old North American Free Trade Agreement with Canada and Mexico. It’s a threat the president would be wise to reconsider.

Topic: U.S.
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The separation of families on the border is a punishment grossly disproportionate to the offense. The Border Patrol keeps children in cages while their parents, charged with immigration offenses, are held elsewhere. The pictures have drawn outrage, and appropriately so.

Topic: U.S.
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