The AI boom is propping up the US economy. It's also gobbling up all the people, power & capital.

One consequence: It's impeding the manufacturing renaissance Trump wants.

For @bloomberg.com with the great Brooke Sutherland, Mark Niquette & Alex Tanzi.

www.bloomberg.com/news/feature...

This is the key point from my colleague Anna Wong of Bloomberg Economics over on the other site…

It features some fantastic analysis by my colleague Maeva Cousin from Bloomberg Economics, our in-house research shop.

Surely you start by giving the US all of Lake Erie?

An important new paper from Autor, Dorn, Hanson & others on the China Shock. It's good news for places and their ability to recover. Less good for people...

www.nber.org/papers/w33424

Been thinking a lot lately about this piece I wrote for @bloomberg.com BusinessWeek back in 2019. Whenever Trump says China or some other country pays those tariffs I think of Greg Petras pounding his dashboard.

www.bloomberg.com/news/feature...

What happens to the price of fresh flowers on Valentine’s Day if you put a 50% tariff on ~40% of the supply?

www.ers.usda.gov/data-product...

Trump is targeting housing prices and lots of other prices. Totally unclear if this will work. But hard to argue against most of this. Should be said that Biden signed his own executive orders to bring down housing costs. Though not clear they had much impact… www.whitehouse.gov/presidential...

So no tariffs?

Here’s the statement announcing the pick:

So Howard Lutnick gets Commerce and to be in charge of “our tariffs and trade policy” and oversee USTR. That’s interesting…