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The Latest Breaking News from Scott Lincicome

Trump Backs Off Mexico, Canada Tariffs After Market Blowback

Trump signed orders Thursday to hit pause on the fresh tariffs for Canadian and Mexican imports covered by a North American trade agreement, though he dismissed suggestions that his decisions were linked to market turmoil.

International Business Times

The goods hit first by Trump’s tariffs on Mexico, Canada and China

Imports from Canada and Mexico will be taxed at 25 percent while levies on Chinese products will increase to 20 percent

The Independent UK

What Are Reciprocal Tariffs And Who Might Be Affected?

US President Donald Trump has threatened to open new fronts in his tariffs war by announcing reciprocal levies on other countries as soon as Tuesday, branding this "the only fair way" to trade.

International Business Times

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Here are some goods in the crosshairs of Trump's tariffs on Mexico, Canada and China

President Donald Trump signed an order to put tariffs on U.S. neighbors Canada and Mexico, as well as China, starting Tuesday

The Independent UK

Trump Has Vowed Sweeping Tariffs: What Comes Next?

US president-elect Donald Trump says "tariff" is the most beautiful word in the dictionary -- and the Republican's second term promises sweeping measures on all $3 trillion worth of US imported goods.

International Business Times

Increase in Tariffs Would Trigger Global Economic Decline, Study Finds

A new IMF study finds that a global increase in tariffs could decrease global GDP by nearly 1 percent by 2025 and over 1 percent by 2026.

Reason

Tariff Gambit

Plus: Elon Musk's purportedly illegal scheme, nicotine nation, and more...

Reason

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Perils of Broad Presidential Power Over Tariffs

Donald Trump's plan for massive tariff increases is particularly dangerous because the White House could likely implement it without any new congressional authorization.

Reason

Could Trump Impose More Tariffs Without Congressional Approval?

Yes. But there might be one more key opportunity to rein in presidential powers over trade.

Reason

Instead of Vote-Buying Tax Promises, Let's Have Real Plans for Tax Relief

Lower taxes are better taxes, but they should be part of well-considered plans.

Reason

Biden is hosting Japan's Kishida. But the Nippon Steel deal is not on the agenda

President BIden and Japanese Prime Minister Fumio Kishida Fumio announced efforts to strengthen military ties, as well as collaborations on space exploration and artificial intelligence.

WEKU

Trump and Biden Both Get Globalization Wrong

Free trade brings us more stuff at lower prices.

Reason

Protectionism Ruined U.S. Steel

Another round of federal intervention to prevent its sale makes no sense.

Reason

Let Foreign Airlines Serve Domestic Routes in the U.S.

Argentina is opening domestic air travel to foreign airlines for the first time. The same trick has worked wonders for Europe.

Reason

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Reason

New Crypto Bill Aims To Circumvent SEC's Regulation-by-Enforcement Strategy

Plus: Steep drop in confidence in higher education, what The Bear can teach us about dynamism and bureaucracy, and more...

Reason

This Year's Farm Bill Threatens To Be a Bigger Monster Than Ever

The massive piece of legislation embodies all that is wrong with American lawmaking.

Reason

The Jones Act Is Driving Up Prices and Making Crises Worse

The legislation, which forbids shipping anything between American ports in ships that are not U.S. built and crewed, is just another a special deal that one industry has scammed out of Congress.

Reason

The Government Hasn't Learned a Thing From the Baby Formula Shortage

With the FORMULA Act soon to expire, the U.S. baby formula market is about to return to the conditions that left it so vulnerable to a shortage in the first place.

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Reason

Bankrupt Crypto Exchange FTX Under Investigation

Plus: Democrats retain control of Senate, RIP Sharon Presley and Martin Wooster, and more...

Reason

Buy American Falls Short on U.S. EV Production and Risks a European Trade War

The Buy American program, used to encourage the buying of American made electric vehicles, not only limits access to EVs but risks a trade war with the E.U.

Reason

Alexandria Ocasio-Cortez Claims Elon Musk Is Targeting Her Twitter Account

Plus: Congress remains too cautious about marijuana, myths about independent contractors, and more...

Reason

Somebody in the Shipping Industry Wants Opponents of the Jones Act Charged with Treason

There’s nothing patriotic about a law lining the pockets of cargo companies at the expense of consumers.

Reason

Biden's New Industrial Policy Will Fail, Just Like Industrial Policy Always Fails

While campaigning for the midterm election, the president is promoting a disastrous and expensive form of economic protectionism.

Reason

Federal Bureaucrats Say We Can't Reschedule Marijuana Because of How It's Scheduled

Cannabis has long been classified as having "high potential for abuse" and "no currently accepted medical use." That makes it harder to study and, therefore, harder to reclassify.

WEKU

Biden has $52 billion for semiconductors. Today, work begins to spend that windfall

President Biden is touting new semiconductor investments in New York today. Back at the White House, a new team is meeting with cabinet members to work out how to spend $52 billion from Congress.

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