Canada's expected tariff retaliation today applies to only a slice of the country's total imports from the U.S., so immediate harm should be limited, but U.S. escalation could threaten a much wider economic base, including the auto industry.

Chris Bangert-Drowns@cbdecon.bsky.social · 2mo ago

The collapse of trade talks with Canada puts the U.S. on unsure footing with its second-largest trading partner. The over 10% of all U.S. imports originating from our northern neighbor have faced a lower average tariff rate compared to other countries, but that could soon change.

"Recent work by Lynch and Ettlinger highlights these same inflation dynamics in the currently ongoing immigration enforcement surge, showing declining employment and production in industries and regions reliant on immigrant labor." via @cbdecon.bsky.social #EndTheICETax

Economic research shows immigration is good for U.S. workers, the economy, and affordability

Immigration supports stronger economic growth by expanding the U.S. labor force, boosting productivity, increasing profitability for businesses, and strengthening consumer demand.

equitablegrowth.org

The collapse of trade talks with Canada puts the U.S. on unsure footing with its second-largest trading partner. The over 10% of all U.S. imports originating from our northern neighbor have faced a lower average tariff rate compared to other countries, but that could soon change.

🧵 Digging into this morning’s tepid jobs numbers highlights some key weaknesses in the U.S. economy. First, participation continues to erode - an estimated ~264k people left the labor force in July, following a ~720k decline in June.

🧵 New tariffs taking effect this morning represent a deepening of this administration’s strategy of trade chaos and are a threat to U.S. workers and the economy under a thin justification of opposing forced labor.

🧵 Twin decisions from the Supreme Court this week could shake the U.S. economy by eroding confidence in federal policymaking. While SCOTUS rightly blocked the firing of Fed Governor Lisa Cook (for now), its removal of protections for other agency leaders could be disastrous.

Washington Center for Equitable Growth@equitablegrowth.bsky.social · 4mo ago

Today, SCOTUS upheld a lower court’s order preventing President Trump from removing Federal Reserve Board Governor Lisa Cook without due process, reaffirming longstanding protections for the central bank’s independence. Read our full response below 🔗: equitablegrowth.org/press/equita...

The threat of a stadium worker strike on the eve of the World Cup underscores the power of union activity in the U.S., and provides a chance for economists to review what the evidence says about the impacts of unions (tldr: collective bargaining works!).

NPR@npr.org · 4mo ago

Negotiations between the union representing the workers, the hospitality group at the Los Angeles stadium and FIFA are set to continue Monday.

A year ago today, President Trump hiked tariffs to levels unseen in the modern era, celebrating a “Liberation Day” for the U.S. economy. Since then, U.S. tariff policy has remained costly and highly uncertain, weighing on the ability of businesses to grow and hire more workers.