June 16, 2018
The Kigali Amendment to the Montreal Protocol, which would restrict production of many commonly-used refrigerants on the grounds that they contribute to global warming, was signed by President Obama in 2016 but still needs to be submitted by President Trump to the Senate for the required two-thirds ratification before becoming law.
June 15, 2018
Last week I was in Atlanta enjoying the excitement and intellectual ferment of FEEcon, the annual conference held by the Foundation for Economic Education. On Friday I posted some of the content that the FEE team has produced on the long, sad slide of Venezuela into socialist chaos, and now, fortunately, some additional—and more optimistic—video content is available from the conference itself.
June 14, 2018
Article I, section 8 of the U.S. Constitution gives Congress the exclusive power of the purse. Under no circumstances may the president unilaterally raise taxes. And yet, President Trump has done just that with new tariffs. So far, Trump has enacted 25 percent levies on steel and 10 percent levies on aluminum. He is also threatening to raise tariffs on foreign cars, among other measures. How is he getting away with it?
June 11, 2018
The president’s threats must be fought, but the good news is America’s fundamental institutions will withstand Trumpian bluster. For one thing, our economy remains a powerhouse. America’s $19 trillion economy already withstands an annual $1.9 trillion in annual regulatory costs from Washington. On top of that, Trump’s tariffs will cost “only” a few billion dollars. In short, the economy is dragging along a big, deadweight burden, but it can still get the job done.
June 7, 2018
Tit-for-tat retaliation for trade tariffs is a losing game for both sides. Exports are the way we pay for imports of the things we want. The correct response to protectionist policies is simply to do nothing.
June 4, 2018
A new 25 percent steel tariff and a 10 percent aluminum tariff have come into effect. The levies are aimed at our allies, such as Canada, Mexico, and the European Union. They are a bad idea for three reasons.
June 1, 2018
Congratulations are in order to our friends at the Cato Institute on their recent big event in New York, the Friedman Prize Dinner. Every two years they gather with friends and supporters to present the organization’s highest honor (besides being accepted for an internship), the Milton Friedman Prize for Advancing Liberty.
May 29, 2018
This week will mark the one-year anniversary of President Trump’s speech announcing that the United States would be withdrawing from the Paris Climate Agreement, which President Obama originally signed, to great international attention, on September 3, 2016. Unfortunately, despite the strong language of Trump’s statement (and the healthy amount of media criticism is generated), the U.S. is not actually “out of Paris.”
May 17, 2018
Today, the Fraser Institute, an independent, non-partisan Canadian public policy think-tank, released a new book on worldwide barriers to entrepreneurship, Demographics and Entrepreneurship: Mitigating the Effects of an Aging Population. In the book, CEI expert Wayne Crews offers a chapter that examines regulatory barriers to entrepreneurship—a concern in countries around the world.
April 30, 2018
Following in George W. Bush’s footsteps, President Trump increased tariffs on foreign-made steel and aluminum by 25 percent in March. But he exempted U.S. allies such as Canada and the EU from the additional levies until May 1. While exemption extensions are possible, they are far from certain.