Trump Considers 25% Tariffs on All Auto Imports as Matter of "National Security"
Mike Mish Shedlock
The Wall Street Journal reports Trump Administration Weighs New Tariffs on Imported Vehicles.
The Trump administration is considering a plan that would impose new tariffs on imported vehicles on national-security grounds, according to industry officials briefed on broad outlines of the plan.
The plan remains in its early stages, and is likely to face significant opposition from a number of interest groups, from foreign trading partners to domestic dealers of imported cars.
Applying the tariffs under Section 232, meanwhile, would require a lengthy investigation and report from the U.S. Commerce Department. The administration is currently considering tariffs of up to 25%, according to those briefed on the plan.
Global Trade War
If Trump wants a global trade war, this is a sure-fire way to get one.
Every country would respond with similar actions. And it would wipe out imports but it would also kill foreign investment in the US and US importers.
It would raise prices for a while. Then a crash.
Rosenberg on Trumponomics
The feature image is one I remembered from a few years back as part of a Monkey selfie copyright dispute.
A monkey took a photographer's camera and snapped a bunch of amazing pictures of itself. The courts ruled the images to be in public domain because monkeys cannot own copyrights.
The suit was settled, sort of.
However, the court of appeals declined to dismiss the case and vacate the lower court judgment.
This seems like nonsense to me. The owner of the camera should own the copyright. If that's not the case, then logically, any image in which an animal trips a shutter thereby taking it's own picture would be in public domain.
Perhaps the argument was presented to the court wrongly. Instead of arguing the monkey owned the copyright, the claim should have been made that the camera owner owned the copyright.
Mike "Mish" Shedlock