Why President Trump’s Latest Tariffs Are the Most Nonsensical

This week, President Trump took to Twitter to announce new tariffs on steel and aluminum imports from Brazil and Argentina. Although the Trump administration has had its share of puzzling trade war escalations — including declaring auto parts a threat to national security — this is potentially the most indefensible one yet. Anecdotally, the most frequent argument I hear from supporters of Trump’s trade policies is “we need to confront China.” On this point, I would simply note that it is both true that 1) China is guilty of serious, ongoing human rights abuses and 2) China’s greater embrace of

Congress Needs to Be Involved in Negotiating “New NAFTA” Deal

Yesterday, the United States and Mexico agreed on a new trade agreement to replace NAFTA. As I write this column, it’s still too early to say what the impact of this new accord will be, as most of its details have not been released. But with that said, what we do know is enough to call into question whether this agreement will truly be a “better deal.” Investor’s Business Daily gave us some insight into the plan: The key to Monday’s new U.S.-Mexico Trade Deal — Trump wants to deep-six the name “Nafta” for good — is a thorough revamping

Dear President Trump: “America First” Should Mean Free and Open Trade

Last Friday, President Donald Trump took the podium at the Asia-Pacific Economic Cooperation summit in Vietnam to deliver a forceful speech in which he doubled down on his nationalist economic rhetoric. In his remarks, Trump rebuked Asian countries and their leaders for what he called “unfair trade practices” saying, “We are not going to let the United States be taken advantage of anymore.” Trump further asserted that the United States was continually subject to what he referred to as “chronic trade abuses” that were costing American jobs. While this rhetoric plays well with much of the President’s political base and

A Trump Trade War Would Be Sobering for American Whiskey

Over the last few weeks, President Trump has ignited a modern Whiskey Rebellion after revealing his interest in placing a tariff on foreign-made steel. In response to Trump’s protectionist threat, the European Union announced that (if Trump’s plan were enacted) they would respond with a series of tariffs of their own — including adding a new tax on American bourbon. To say the least, a trade war like this would not benefit the United States or Europe. While some in the Trump administration may hold out hope that the US steel industry would boom from such an arrangement, the reality