Loading...
BYH, Donna and kids. I appreciate the gesture, but I really don't like breakfast in bed. It makes me feel like I'm in...

Worries grow over trade war

Loading…

Saturday, July 14, 2018

The Wall Street Journal

The U.S. economy continues to show strength in the wake of tax reform and deregulation, but the downside of robust growth is that Donald Trump thinks this means he can dabble at trade war with impunity. He ought to look at the signs that growth would be even stronger if not for his border-tax brawls.

The latest evidence came in the minutes from the Federal Open Market Committee’s June meeting. Fed district presidents from around the U.S. reported evidence of strong growth, but along the way came this warning:

“However, many District contacts expressed concern about the possible adverse effects of tariffs and other proposed trade restrictions, both domestically and abroad, on future investment activity; contacts in some Districts indicated that plans for capital spending had been scaled back or postponed as a result of uncertainty over trade policy.”

The minutes continued: “Contacts in the steel and aluminum industries expected higher prices as a result of the tariffs on these products but had not planned any new investments to increase capacity. Conditions in the agricultural sector reportedly improved somewhat, but contacts were concerned about the effect of potentially higher tariffs on their exports.”

These reports are from the economy’s ground floor, not the Beltway penthouse. They show that U.S. tariffs and the risks of retaliation are creating uncertainty that could reduce business investment. This probably won’t show up in GDP for the recently completed second quarter because the tariff impact is only starting to be felt.

But investment decisions roll through the economy with a lag. More uncertainty means less investment, which means less growth, which means fewer jobs and slower wage gains. Mr. Trump isn’t any more immune from the laws of economics than Barack Obama was.

Loading…

Humans of Greenville

@HumansofGville

Local photographer Joe Pellegrino explores Greenville to create a photographic census of its people.

Op Ed

October 15, 2018

The Toronto Star

Earth is rapidly headed for a place of no return, where climate change will leave the planet a more hostile place for people, plants and animals.

The impacts and costs are greater and coming faster than expected, according to a comprehensive new assessment by the Intergovernmental…

October 15, 2018

North Carolina’s 2018 election cycle may be considered a “blue moon” — but Democrats aren’t just standing around without a dream in their hearts. They dream of a sweeping victory this year, and are working hard to try to accomplish it.

Every 12 years, North Carolinians…

john hood.jpg

October 14, 2018

Donald Trump may be remembered as the most honest president in modern American history.

Don't get me wrong, Trump lies all the time. He said that he "enacted the biggest tax cuts and reforms in American history" (actually they are the eighth largest) and that "our economy is the strongest it's ever…

MarcThiessen

October 14, 2018

People far more conversant in the Ye-niverse of Kanye West than me have tried to explain the rapper's affection for President Donald Trump, a man who was elected to the highest office in the land with just eight percent of the African American vote. Some have suggested that the odd couple share a…

Tim Carman

October 13, 2018

Winston-Salem Journal 

Last week ended on a high note as we received the news that the Rev. William Barber, a son of North Carolina, was one of the 25 recipients of this year’s prestigious MacArthur fellowship grants, an annual award given to artists, scientists and others who, as the…

October 13, 2018

State lawmakers grouped six constitutional amendments on the November ballot in a way that limits efforts to distinguish each amendment from the others.

A recent complaint from former Republican Gov. Pat McCrory highlights one potential problem that results for amendment supporters.

Each amendment…

Mitch Kokai

October 13, 2018

About this time each year we looked forward to receiving the Sears Wish Book. This wonderful catalogue was about three inches thick, packed with thousands of items. It was the official kickoff to Christmas, and long before Thanksgiving its pages were dogeared, ripped and marked with all the toys…

Tom Campbell.jpg

October 12, 2018

The Fayetteville Observer

It’s hard to imagine how the political noise could get louder, how left and right could be more at odds. But we might have said that two years ago too, and now we know the answer: Yes, it could get worse.

But we also detect a rising voice out there in our communities,…

October 12, 2018

Here is how to interpret the alarming new United Nations-sponsored report on global warming: We are living in a horror movie. The world needs statesmen to lead the way to safety. Instead we have President Trump, who essentially says, "Hey, let's all head to the dark, creepy basement where the chain…

Eugene Robinson

October 11, 2018

President Trump apologized to Justice Brett Kavanaugh and his family for the "terrible pain and suffering" they endured during his confirmation process, declaring that "what happened to the Kavanaugh family violates every notion of fairness, decency and due process." Democrats seem to be taking the…

MarcThiessen
289 stories in Op Ed. Viewing 1 through 10.
«First Page   «Previous Page        
Page 1 of 29
        Next Page»   Last Page»