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Four American presidents on free trade (Truman/Eisenhower/JFK/Reagan) 60 seconds
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π±ππ’ππ πππππ’ π½πΊπΈ retweeted
New @AAF paper by @JJensen2020, Natalie George, and me:
The administration promised steel and aluminum tariffs would revive domestic manufacturing.
Instead of a job or production boom, the data shows a different picture:
-At least 228k full-time jobs lost (338k per @TaxFoundation's latest data)
-Bellwether steel prices up 67% y-o-y
-Tariffs costs +400% (steel) and +700% (aluminum) from 2024-2025
-Retaliation from trade partners are hurting the economy
More in our paper below.
The administration promised steel and aluminum tariffs would revive domestic manufacturing.
Instead of a job or production boom, the data shows a different picture:
-At least 228k full-time jobs lost (338k per @TaxFoundation's latest data)
-Bellwether steel prices up 67% y-o-y
-Tariffs costs +400% (steel) and +700% (aluminum) from 2024-2025
-Retaliation from trade partners are hurting the economy
More in our paper below.
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"You can't depend on politicians." RIP Donnie Iris. youtube.com/watch?v=WFmPEgβ¦
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π±ππ’ππ πππππ’ π½πΊπΈ retweeted
New Jones Act waiver data: foreign vessels have transported 759,000 more barrels of petroleum to Puerto Rico in ~7 months than the JA fleet has *ever* transported to the island in an entire year (10.89m barrels vs. 1995βs 10.14m).
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This is just wrong. Trade adds to economic growth, it doesn't subtract from it.
If the trade deficit subtracts from economic growth we should just ban imports.
Technically, imports are initially counted in the GDP calculation, but since GDP measures DOMESTIC production, they . An increase in imports has zero mathematical impact on GDP.
If the trade deficit subtracts from economic growth we should just ban imports.
Technically, imports are initially counted in the GDP calculation, but since GDP measures DOMESTIC production, they . An increase in imports has zero mathematical impact on GDP.
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Maybe if someone in another country decides to invest in a U.S. company instead of buying a U.S. export, we still benefit even though the trade deficit increases.
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Maybe if Americans are free to import affordable goods and services that boosts exports and frees up U.S. dollars to spend on other domestic goods.
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π±ππ’ππ πππππ’ π½πΊπΈ retweeted
"High Tariffs Are Not Just Bad Economics but Bad Politics, Too" cato.org/blog/high-tariβ¦
A nice polling roundup from my @CatoInstitute colleagues:
A nice polling roundup from my @CatoInstitute colleagues:
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The Jones Act is supposed to boost U.S. shipbuilding. We don't build many non-military ships here. But do you know what the second-largest sector of U.S. manufacturing is? "Motor vehicles, bodies and trailers, and parts" and "Other transportation equipment." @cpgrabow
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π±ππ’ππ πππππ’ π½πΊπΈ retweeted
Going to be wild if the Jones Act waiver is renewed next month and New England buys πΊπΈ LNG for the first time.
Is Santa Claus from Trinidad?
Asking because come this holiday season, New England will once again be fighting its winter freeze with LNG imported from there, even while America exports 17.4 billion cubic feet of LNG daily.
A 100-year-old Jones Act explains why (thread)
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Good point from @hbkazemi33. Most of the "manufacturing jobs" charts and stats on here include managers. The numbers for production and nonsupervisory workers look a little different. Down 84,000 since January 2025. (Link in reply)
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@hbkazemi33 I'm not attributing that to Trump or tariffs, just sharing. It's not even necessarily a bad thing. If the reduction is due to workers moving into management or better jobs in other industries, for example. bls.gov/iag/tgs/iag31-β¦
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@PhilWMagness @CliffordAsness @grok Wrong numbers @RealEJAntoni. Actual number of manufacturing jobs has not changed. There are now more supervisors.
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π±ππ’ππ πππππ’ π½πΊπΈ retweeted
1/10 In my latest for @aier, I argue that America already has a conception of the common good, rooted in its founding. It is ordered liberty, sustained by constitutional institutions. The real threat to that common good came from progressivism, not classical liberalism.
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Once upon a time....
heritage.org/press/heritageβ¦
heritage.org/press/heritageβ¦
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π±ππ’ππ πππππ’ π½πΊπΈ retweeted
Tariffs were supposed to shrink the trade deficit.
But instead, the deficit was 8% larger over the last 20 months than the 20 months prior. And American consumers are paying higher prices.
But instead, the deficit was 8% larger over the last 20 months than the 20 months prior. And American consumers are paying higher prices.
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This is a drop in the bucket compared to how much international auto companies have been investing here for decades but itβs still a nice bump.
.@POTUS: I am thrilled to announce a massive auto manufacturing investment in the Great State of Georgia.
Audi has just committed to invest $4.25 BILLION in Macon β to begin construction next month on a massive plant that will produce 200,000 cars per year.
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