Trade correspondent L.C. reports: The US and China have announced the unleashing of the next tranche in tit-for-tat tariffs, covering $16 billion in each country’s exports, to begin on August 23rd. The US tariffs are set at 25% and are being imposed under trade law Section 301. The Chinese tariff rate will also be 25%. […]
Indexing capital gains taxes a good idea, but…
Support is growing among Republicans in Washington to shield capital gains from the ravages of inflation. President Trump’s economic adviser Larry Kudlow has written in support of the idea. So do Grover Norquist (President of Americans for Tax Reform), Senator Ted Cruz, and House Ways and Means chairman Kevin Brady. Rep. Devin Nunes of California […]
Xi under pressure as US-China tariff standoff escalates
Trade correspondent L.C. reports: The US-China tariff standoff escalated again this week. The President on August 1st directed US Trade Representative (USTR) Lighthizer to look at the possibility of imposing tariffs of 25%, rather than 10%, on the next tranche of China imports to be subjected to tariffs. That tranche, containing thousands of products, is […]
Summer heat brings out global warming enthusiasts, their Russian allies, and carbon tax Republicans
Summer heat waves predictably bring out swarms of insects, global warming enthusiasts, and their Russian allies. They are now being joined by Republican advocates for a carbon tax. The Green Republicans are marching counter to a major deregulatory move by the Trump administration: “The Environmental Protection Agency and Transportation Department released a plan…to ax the […]
US-EU “deal” — a quick fix but no long-term clarity
Trade correspondent L.C. reports: President Trump met with European Commission President Jean-Claude Juncker for over three hours at the White House on July 25th. The leaders emerged with what they claimed to be a significant deal on trade, though the meeting was not a formal negotiation and the outcome was vague and mainly pointed to […]
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