The US Treasury Department was hacked by a Chinese state-sponsored actor through a third-party software service provider, according to a letter the agency sent to Congress on Monday. Treasury described the intrusion as a “major cybersecurity incident,” since it was attributed to a state-sponsored actor, according to the letter, which was reviewed by Bloomberg News. … Read More
The imposition of tariffs is likely to mean a stronger U.S. dollar, which will make American exports more expensive. That undercuts Mr. Trump’s goal of reducing the trade deficit, but it will also pull in more investment from the rest of the world. The Trump tariffs will certainly force other countries to be creative in … Read More
Economists Have Drawn the Wrong Lessons From the Failures of the 1930s. Tariffs are neither a panacea nor necessarily injurious. Their effectiveness, like that of any economic policy intervention, depends on the circumstances under which they are implemented. In the end, tariffs are simply one among many tools that can improve economic outcomes under some … Read More
All indications are that free trade has gone the way of the typewriter and the pay phone. What has long been a pillar of economic liberty and free-market capitalism has been degraded by protectionism, populism and isolationism. Neo-mercantilism is the flavor of the month. In order to effectively respond to tariff increases, an import company … Read More
Taxes distort economies. For example, income taxes discourage productive work; gas taxes reduce travel; and tariffs inhibit international trade. Economists often oppose individual taxes, because they imagine an ideal economy with no distortions, and see these taxes as departures from the ideal. President Trump’s proposed tariffs would introduce new market distortions, as taxes always do. … Read More
OTTOLOCK, the Oregon-based brand has found a niche within the bike-lock marketplace with the Cinch Lock. This super-portable lock (which also made GearJunkie’s list of Best Bike Locks) represents the majority of OTTOLOCK’s business — and it’s made entirely in the USA. Well, almost entirely. Of the lock’s 29 components, only a single one comes … Read More
The USGS study underscores the importance of building supply chain resilience through measures such as expanding stockpiles of critical minerals, investing in recovery of gallium and germanium from mine waste, and enhancing recycling efforts to recover these minerals from e-waste. Additionally, the report highlights the need for a comprehensive approach to mineral supply chains, including … Read More
A resilient and secure supply of foundational semiconductors is critical to U.S. national and economic security. These semiconductors are essential to key sectors of the U.S. economy, powering cars, medical devices, critical infrastructure, key aerospace and defense systems, and the goods and services we rely on every day. The People’s Republic of China (PRC) routinely … Read More
But estimating just how much higher is hard to say. It’s possible that producers and importers will absorb some of the costs to keep prices down and stay more competitive. But he cautions that because the tariffs apply only to the product’s value at the border, and not to other costs like transportation and distribution … Read More
“Plus, the U.S. is not the singularly dominant power in trade that it once was and we could see the U.S. efforts create a level of isolation for the U.S. that is not anticipated or desired overall.” My Note: And the reason we are no longer the singularly dominant power is because we embraced globalization … Read More
