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How the Section 232 Tariffs on Steel and Aluminum Harmed the Economy

Key Findings The Section 232 tariffs on imports of steel and aluminum raised the cost of production for manufacturers, reducing employment in those industries, raising prices for consumers, and hurting exports. The jobs “saved” in the steel-producing industries from the tariffs came at a high cost to consumers, at roughly $650,000 per job saved according […]

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U.S.-China Trade War Hurt American Industries and Workers

In light of high inflation and rising prices, the Biden administration announced it’s considering dropping its current tariffs on Chinese imports to ease inflationary pressures. The tariffs have indeed hurt both U.S. industry and workers. Another consequence of the U.S. imposed tariffs is that they invited retaliatory tariffs, primarily from China, on U.S. exports. Retaliatory […]

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Tracking the Economic Impact of U.S. Tariffs and Retaliatory Actions

Key Findings The Trump administration imposed nearly $80 billion worth of new taxes on Americans by levying tariffs on thousands of products, which is equivalent to one of the largest tax increases in decades. Based on 2021 import levels and country exemptions, the tariffs amounted to a $52.6 billion tax increase in 2021. We estimate […]

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Biden’s Trade Agenda Should End the Trade War and Promote Free Trade

After the failed approach of the Trump administration’s tariffs and trade war along with the current need to reduce inflation and increase productive capacity, we hoped the administration would reevaluate the tariffs. But under the Biden administration’s new trade policy agenda, most U.S. businesses will continue facing tariffs on billions of dollars’ worth of imported […]

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Who Really Pays the Tariffs? U.S. Firms and Consumers, Through Higher Prices

When the Trump administration imposed tariffs on various imports in 2018, the stated purpose was to boost U.S. industries and punish foreign exporters. But rather than hurting foreign exporters, the economic evidence shows it is American firms and consumers hardest hit by the Trump tariffs. The tariffs resulted in higher prices for a wide variety […]

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Biden Could Provide Business and Household Relief by Eliminating Trump Tariffs

One of President Donald Trump’s signature policy actions has been to engage in a tit-for-tat tariff war with America’s trading partners, and one of the big questions is what President-elect Joe Biden will do about that. First, a brief review of where things stand. Relying on rarely used sections of trade law, President Trump used […]

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How Should Wealth and Work Be Treated in the Tax Code?

Late last week, Democratic presidential candidate Joe Biden released a piece reviewing his tax proposals, contrasting them with President Donald Trump’s tax ideas. A major theme within this piece can be summarized in the title: “A Tale of Two Tax Policies: Trump Rewards Wealth, Biden Rewards Work.” Biden raises an important question regarding how work […]

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President Trump Outlines Second Term Tax Ideas

The Republican National Convention is underway this week and President Trump’s campaign released a second term agenda outlining his policy vision in broad strokes. While light on detail, the agenda includes a few tax policy items like expanding existing tax breaks, creating credits for specific industries and activities, and unspecified tax cuts for individuals. The […]

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Immigration Judges Sue DOJ for Blocking Their Speech

Immigration judges do not talk to the media. Trust me, I’ve tried. Generally speaking, the only ones I can get on the phone are retired judges and officers of the National Association of Immigration Judges, who always take pains to make it clear that they’re speaking in their capacity as union leaders. They do this […]

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Simon & Schuster Wins Another Round As Appeals Court Lifts Stay On Mary Trump’s Book

(Photo by Spencer Platt/Getty Images) Odds that George Conway gets his wish to review an advance copy of Mary Trump’s book Too Much and Never Enough: How My Family Created the World’s Most Dangerous Man (affiliate link) went up substantially yesterday as Presiding Justice Alan D. Scheinkman of the Supreme Court of New York’s Appellate Division […]