The president appears to view tariffs as the solution to a wide range of foreign policy problems. It isn’t working.
So we’re going to tax Americans until Mexico stops allowing people from Central America to exercise their legal right to seek admission to the United States?
Seems pretty foolproof.
President Trump announced Thursday evening on Twitter, his preferred medium for policymaking, that he plans to impose a new tariff on all imports from Mexico, “until the illegal immigration problem is remedied.”
The tariff would begin at 5 percent on June 10 and gradually rise to 25 percent by October.
Mr. Trump persists in the falsehood that tariffs are paid by America’s trading partners. The truth is that Mexico would no more pay this tariff than it is paying for the construction of a border wall. The evidence is clear: Mr. Trump’s tariffs are taxes being paid by Americans.
This new tax would sit atop Mr. Trump’s tariffs on aluminum and steel imports, and Mr. Trump’s tariffs on Chinese imports, and the bill is adding up. The United States so far has collected about $19 billion in Trump tariffs. A full 25 percent tariff on Mexican goods could add as much as $87 billion a year to that total.
Mexico would most likely respond by imposing retaliatory tariffs, which is especially bad news for the probable targets: American farmers. About two weeks ago Mr. Trump ended a tariff on Mexican aluminum and steel, and Mexico ended a tariff on American farm goods. So much for that false dawn. Farmers may need to resume the search for new markets.
Taxation is always painful, and always the question is whether the benefits outweigh the pain. In this case, Mr. Trump is using a tariff as a cudgel to induce Mexico’s cooperation in keeping immigrants from America’s southern border. While the cost of the tariff would be paid by Americans, the Mexican economy most likely also would suffer a loss of sales to the United States.
Mr. Trump might succeed in pressuring Mexico to take stronger steps on immigration. Tariffs, however, are a very crude tool. Most of the immigrants seeking to cross the southern border are fleeing problems in Central America that are beyond the control of the Mexican government. Moreover, while Mr. Trump tends to refer to all of the immigrants as illegal, many are exercising a legal right to seek asylum.
Past administrations have sought cooperation from Mexico on immigration issues without disrupting economic relations between the two countries. Mr. Trump’s decision to mix the two issues threatens to disrupt both economies because the manufacturing sectors in Mexico and the United States are tightly intertwined. About two-thirds of trade between the countries is between factories owned by the same company, according to Deutsche Bank.
Other American trading partners with whom Mr. Trump is trying to negotiate new trade deals, including Japan and the European Union, presumably are having the same thought.
Last but not least, messing with Mexico weakens the Trump administration’s hand in its dealings with China. Mr. Trump’s tariffs on Chinese goods have persuaded some American companies to relocate production to Mexico from China. Those companies now face a more difficult choice. Mr. Trump and his advisers also may find it more difficult to rally international support for their efforts to persuade China to make changes in its economic policies.
Mr. Trump’s apparent determination to fight with all of America’s trading partners at once makes it harder to make progress on any particular front.
Once again, Mr. Trump is lashing out rather than acting strategically — and Americans will feel the pain.
20-Somethings Embrace Clean Living
Young adults seeking control in uncertain times find their fun in knitting, meditation, vegetables
They drink less alcohol, eat more vegetables, cut back on meat, meditate often, enjoy knitting and make their own pour-over coffee. Meet the “clean lifers,” the young adults who revel in dodging the indulgences of their elders.
.. Many young adults, having grown up during the recession, pursue healthful living as a way to find balance amid the global uncertainty that continues today.
.. So-called clean lifers, typically educated 20- to 29-year-olds, pursue healthy living as a way of asserting control and finding comfort in an unstable world
.. “They feel they can make a difference, and this influences their spending choices,”
.. “This means more saying no: no to alcohol; no to unhealthy habits; no to animal-based products and, increasingly, no to unmeasured or uninformed spending.”
.. In the past people ages 35 to 50 were the biggest users of Calm.com Inc.’s meditation app, but recently those in their 20s have matched them in numbers.
.. “This age group is influenced by their peers, especially on social media, and within that there’s this echo chamber continuously talking about meditation, mindfulness and healthy living,”
.. “Talking about how drunk you got the night before used to be a badge of honor, but this new generation would roll their eyes at that.”
.. Ms. Brown isn’t a vegetarian, but says she likes having the option and lately has asked friends for vegan cookbook recommendations. She visits farmers markets about twice a month for produce and regularly makes her own peanut butter. “It’s nothing too special, but it has less sugar and it tastes a little fresher,” she says... Young adults are in particular need because many of their parents didn’t cook meals from scratch, Mr. Ediger says. “They might not have learned recipes or how to follow recipes.”.. Young adults now use pour-over coffeemakers at twice the rate of the general population and are replacing their electric-drip machines with the simple porcelain devices.. “There’s nothing more minimalist than a pour-over cone on top of a cup with a filter and coffee and pure water poured on top of it,” he says. “It’s a very Zen-like, ritualistic process.”.. Young knitters and crocheters, ages 18 to 34, are learning the craft at about twice the rate of those aged 35 to 54.. Most yarn crafters say it gives them a sense of accomplishment and helps them cope with stress, she says... Young adults seeking to balance indulgence with portion control helped drive sales of Chicago Metallic’s Slice Solutions brownie pan set, which includes dividers to create 18 brownies... “Millennials and Gen Zers have a much greater sense of balance, they’re less guilty about indulgences because they’re better to their bodies every day,” says Mr. Mirabile. “With boomers, we didn’t start working out until things started falling apart.”.. When hanging out with friends, Ms. Desai prefers doing an activity, and has hung her completed artwork in her home. “There’s a sense of accomplishment when you have a good time and you complete something,”Comments:.. Reluctant millennial here. Some of this behavior, as commenters pointed out, is virtue signaling, and I have to roll my eyes at transparently hipster activities like yoga and urban knitting, but other than that, much of this seems healthy and indicative of people who are a lot more conscientious about their lifestyle. Some of this is a reaction to the shallowness of the smartphone-addicted lifestyle.
.. You know, back around the mid-60’s we had a group of young people who were going to ‘change the world’, they protested the Vietnam war, advocated lots of free sex, along with all the other hippie nonsense of the day. Those people are now running many of our universities and businesses. Didn’t work out that great for the rest of us, nor will these twits be of much benefit.
Wonder how they feel about the legalization of weed and other drugs?.. Consuming less, perhaps, but every bit as self-absorbed as Millennials and Boomers.
But it’s also a reaction to the Boomer generation, which for the most part is terribly unhealthy (and set an awful example for their progeny.) My parents are both in good shape, but they’re outliers who barely qualify for the Boomer label, anyway (being a teenager at some point in the 60s is a prerequisite.) Growing up around obese, leather-skinned Boomers who make lots of bad decisions (and threw their offspring under the Debt Bus) has a way of motivating young people toward a better lifestyle.