Reagan at CPAC

Update: ielp.worldtradelaw.net/2026/02/gues...

President Trump said he plans to impose a new 10% tariff under Section 122. He can't legally do that, as explained here:

True Confessions (video): Trump Administration officials tell Sen. John Kennedy (R-LA) their reciprocal trade policy is 100% fraudulent. youtu.be/lSpivX4xmzc

The new nonreciprocal trade agreement between the US & Guatemala contains the phrase "Guatemala shall" 105 times, and "United States shall" 7 times. The general US tariff will be 10%, subject to some exceptions. Guatemala's tariff on the US as of 2024 was less than 1%. Not very reciprocal, is it?

Most of the measures in the new US-El Salvador trade agreement appear to apply to El Salvador but not the United States. @simonlester.com what do you think? ustr.gov/sites/defaul...

Section 122 is often put forward as a possible replacement if the IEEPA tariffs are struck down, but what if the conditions for imposing tariffs under Section 122 have not been met? Check out the argument on this point by @freetradebryan.bsky.social.

In that sense, Warsh is like everyone else in the Trump administration: either an unqualified hack, nut job, or white nationalist who couldn’t get within miles of one of these jobs from anyone but Trump, and knows it. Their unsuitability guarantees loyalty.

What do you think? ⤵️

Last year the House changed its rules several times in order to avoid a legally required vote on Trump's "national emergency" tariffs. www.ntu.org/publications...

Against the odds, Trump has succeeded in peacefully uniting the world. Unfortunately, he's uniting it against us. This Pax (Ex) Americana era was illustrated Friday, as Canadian PM Mark Carney wrapped up a trip to China--the first by a Canadian PM in 8+ years. www.thebulwark.com/p/trump-maki...

“Noem: U.S. Citizens Should Be Prepared To Show Proof.” Did you vote for a “Show Me Your Papers” society?

How the Trump Administration is attempting to manipulate the upcoming Supreme Court tariff decision. www.youtube.com/watch?v=5cW9...

I was blown away last week when I saw Commerce Secretary Howard Lutnick contradict President Trump's tariff strategy on the @theallinpod . See for yourself: www.youtube.com/watch?v=JJz3...

A few thoughts on a possible Supreme Court decision on IEEPA tariffs today. youtu.be/Ec35wbnlP4c

Some thoughts on today's trade deficit stats. youtube.com/watch?v=IZZFW7Ruzm8&feature=youtu.be

Some thoughts on this weeks JOLTS manufacturing statistics: www.youtube.com/watch?v=-UbD...

The Trump Effect (The area in pink/red shows additional taxes resulting from tariff increases above the 2.2% January rate.)

"Trump’s epic misunderstanding of the global economy reminds me of an episode of Sopranos. 2 of Tony’s crew try to force the local Starbucks to pay them protection money The store manager tells them: “I can’t authorise that, it would have to go through corporate in Seattle.” on.ft.com/4215Vv1

Trump is using questionable authority to implement global #tariffs: “In the IEEPA’s almost 50-year history, no previous president has used it to impose tariffs. Which is not surprising, since the statute does not even mention tariffs.” @adamposen.bsky.social @mclem.org www.forbes.com/sites/stuart...

THERE IS NO SUCH THING AS A “TRADE DEFICIT”—IT’S JUST CALLED “BUYING THINGS.” YOU DO NOT HAVE A TRADE DEFICIT WITH YOUR DENTIST JUST BECAUSE HE NEVER BUYS ANYTHING FROM YOU.