FEDWATCH: “The pass-through of tariffs has been twice as fast for producer prices as for consumer prices, and this PPI August report shows an acceleration in that pattern. Margins in machinery, equipment, and chemicals fell by close to 4 percent .., competitive pressures are building due to tariffs.
I am now the proud owner of intel 😒
The Trump administration has doubled down on its rejection of what could become a world-first international agreement on carbon pricing, saying that the United States will not accept a burdensome framework and may pursue retaliatory measures.
Read more: www.taxnotes.com/tax-notes-to...
“.. Small businesses especially are grappling with the ability to stay in business.”
@bloomberg.com
www.bloomberg.com/news/article...
Nvidia and AMD have agreed to pay the U.S. 15 percent of their revenue from sales of AI chips in China, a highly unusual arrangement that some experts warn may be unconstitutional.
Or… he is an idiot 🤷🏻♂️
All of a sudden they aren’t so “textualists” anymore 🤷🏻♂️
The GAO just found the Trump admin illegally delayed/cut $8B+ in NIH research grants—blocking Congress-approved funds, harming medical research, and violating the Impoundment Control Act. Science, equity, and accountability are on the line. Congress must act. www.highereddive.com/news/nih-cut...
1/ - Trade Policy in 2025 -
Step 1. Donald Trump invents threatened new tariff rates on your country based on some combination of the trade balance, vibes, personal grievance, vibes, how much he likes you, vibes, or a Peter Navarro formula so stupid it made Lesotho enemy #1.
Also vibes.
Breaking news: President Trump said he would place a 100 percent tariff on all computer chips imported to the United States, but will exempt companies that commit to “building” on U.S. soil like Apple.
Data revisions are a normal, necessary part of trying to measure a $30 trillion economy in real time. They can also be jarring, especially for people who don't obsessively scrutinize every jobs report.
So I dug into the how and why of revisions. A few big takeaways:
#EconSky
CAVALLO: “.. Tariffs are already driving up prices — especially for furniture and household goods.”
www.pricinglab.org/files/Tracki...
Nobody said that. Trump claims that tariffs have zero impact on prices that US consumers pay. We said that is false. Tariffs impact US importers, US consumers, US manufacturers, US exporters, and our trading partners overseas. Everyone loses in trade wars except tax collectors.
Reminder: Tariffs aren't paid by other countries, no matter what Trump says.
A tariff is an import tax, raising the price of almost everything we buy.
Tariffs are also regressive — taking a higher percentage out of the paychecks of working people than out of the wealthy.
Almost 30,000,000,000 passed onto Americans because of tariffs
Quote from the article by author Doron Narotzki: “The tax is collected at the border and later passed through to American consumers, who are generally unaware of the fiscal burden imposed.”
Taxation without representation?
DORON NAROTZKI explains how Trump's tariffs effectively function as a hidden federal consumption tax on the American people – bypassing Congress.
verfassungsblog.de/us-tariffs-t...
Today we learned that there isn’t much of a difference between the Bernie kids who said “debt isn’t real” and Congress. Both think debt can be ignored.
Don't call it a comeback. It's been here for tiers.
Trump puts the top tax rate on the table again.
www.wsj.com/politics/pol...
That’s a pretty accurate depiction
Nothing to worry, it’s all part of a larger economic vision. He has a plan. 🤦🏻♂️🤡
RFK has no place in the cabinet, yet his presence there has been normalized which is a troubling sign of how far we’ve declined.
Longer-term perspective on the rise of US oligarchy
Wrong tax Prof lol
The Trade War has officially begun!
