The real question is why do they think more Americans work in certain industries. The workers would be better off? What the industry provides is critical? Too many open jobs in this sector?

Investment exuberance outpacing planning is the sitcom lesson that we are likely repeating with AI. On the plus side the magnificent seven are already hugely profitable while the sitcoms were virtually all startups

Tariffs have NEVER been used to increase domestic production but rather to protect existing domestic market share. But as you point out a new factory takes years to build. That means tariffs train consumers to either pay the higher price or do without. Neither is good for future domestic sales.

Best solution all year

Thank you. That was my question. And on the other end what is the advantage to the taxpayer. Up until recently Intel had at least paid dividends but that was suspended. No real benefits all around

Let’s look at “declining murders by 35% in 9 days”. A quick Google search shows DC had 190 murders in 2024. That is roughly 1 murder every other day. So 1 maybe 2 less murders out of 4 or 5. So a 9 day murder rate is meaningless

And even if unemployed citizens were willing and able to fill agricultural jobs, they are very unlikely to relocate for those jobs. And unemployment is not concentrated in rural areas.

And the most important thing to remember is that data is input to decisions. In most cases, perfectly accurate data will not lead to different inferences. That becomes the key criteria

Facts are so inconvenient. How dare you use them accurately and insightfully, Dr. Krugman? Have you no shame Sir? Perhaps you could add shameless to your profile.

Because the tariff is paid directly by the importer, it becomes easy to obscure the fact that ultimately it is a tax on consumers. Let’s suppose that these companies absorb the cost. Isn’t that fly in the face of the argument that increasing corporate taxes would kill growth?

And consider that roughly 80%of both US GDP and jobs are services, making the inputs to those services more expensive will likely both decrease corporate profits and overall employment rates

Based on a Pew Research study ahead of the G7, the answer is no. While Americans opinion of G7 partners remains high, the reverse is not true. That poisons the we’ll for American exporters

@justinwolfers.bsky.social Thank you so much for reminding us all that commodities trade on a global supply and demand. Important for everyone to remember when the chant of drill baby drill is used to suggest prices will come down at the pump.

This is the best summary of the folly of Trump tariffs. Especially the key fact that exports have more to do with strategic decisions by American exporters.