A public holiday in Europe you say … time for MOAR tariffs

Has it only been one year??? (Also, hi. Trade Talks is back)

“Wow can’t believe the kids slept in for so long, but why am I still so tired, Ahhhhhhhh”

@stephenkb.bsky.social my wife is apparently currently queuing in the same queue as you

I became Chapter President of the @vangelisv.bsky.social fan club when I received signed memorabilia (he played along on a gift in jest) This from @samuelmarclowe.bsky.social is very kind and insightful (as always). Therefore, once I connect with Sam FanClub HQ, I will start a membership drive.

This week's edition of MFN is about why it is hard for the UK to get anything from the EU, and also some thoughts on EU-CPTPP rules of origin (mainly for @columnist.bsky.social and @asiatrademonitor.bsky.social) mostfavourednation.substack.com/p/asymmetric...

A brilliant piece and if I don’t say so myself brilliantly prompted 🤪

This week's edition of MFN is about why it is hard for the UK to get anything from the EU, and also some thoughts on EU-CPTPP rules of origin (mainly for @columnist.bsky.social and @asiatrademonitor.bsky.social) mostfavourednation.substack.com/p/asymmetric...

How to Win a Trade War and....COFFEE? If you too like coffee, @barnesandnoble.com has a special 25% off deal on pre-orders with the code PREORDER25. The deal ends TODAY, so pre-order How to Win a Trade War now! 📚 👉 www.barnesandnoble.com/w/how-to-win... #BNPreorder

The vibe.

It's all gone a bit @samuelmarclowe.bsky.social here this morning

Arsenal really just walked out second half and went “nah, winning is not something we want to do”

Made with Europe? I guess kinda. A little bit. Maybe. mostfavourednation.substack.com/p/made-with-...

Made with Europe? I guess kinda. A little bit. Maybe. mostfavourednation.substack.com/p/made-with-...

Morning.

I mean, I wouldn’t have called it either. But I’ll take it.

London is GLORIOUS today

*opposition team turns up at the Emirates and parks 10 men on the edge of penalty box for 90 minutes* Commentary team: Arsenal are so boring.

“We hear … for you”

Some thoughts on what the weekend's conflict could mean for Trump's tariff policy. mostfavourednation.substack.com/p/tariffs-in...

Some thoughts on what the weekend's conflict could mean for Trump's tariff policy. mostfavourednation.substack.com/p/tariffs-in...

My Trade Secrets today. The Trump tariff refunds saga is blackly comic. About 20% of tariffs levied on Chinese exporters are paid directly by those exporters. So they get a refund windfall, having largely passed the tariff costs on to US co.s & consumers. I know, right? as.ft.com/r/30dbb3e0-8...

We are so back

*taps mic* It pains me to announce that I may have generated a "hot take" mostfavourednation.substack.com/p/the-suprem...

New uncertainty for world trade, though uncertainty over if/when pharma is tariffed is not new (good section on medicines becoming less of a public good and more of a strategic asset).

In a word, uncertainty! It’s bad for business.

"...even exporters in those countries such as the EU, Japan and South Korea which already face a negotiated 15% rate potentially face higher tariff rates due to the possibility that the new 15% rate now stacks on top of pre-existing US MFN tariffs, unlike the reciprocal 15% rate." 🫨

*taps mic* It pains me to announce that I may have generated a "hot take" mostfavourednation.substack.com/p/the-suprem...

One of the issues for the UK is that nothing in the UK-US EPD mentions the 10% reciprocal tariff rate. At the time this was viewed positively by the UK (in the hope it could be negotiated lower …) assets.publishing.service.gov.uk/media/685587...

Nobody ask why this man is zooming in from a Holiday Inn in Norwich

My half-joking the Supreme Court has made things worse hypothesis is becoming less of a joke

Tbf it was kinda surprising he didn’t go for 15% right away

What’s your favourite Section?

Sec. 122 of the Trade Act of 1974

Read my newsletter (or even better, hire me) to know how things are going to play out well before they actually do. (From September 2025.)* *plz ignore that this was really obvious and absolutely everyone else said the exact same thing open.substack.com/pub/mostfavo...

Literally about to go on a stag do. #timing

The one (nearly two) year old is an evil genius. She’s worked out that shouting “I’ve done a poo” from her cot forces us to go back in there to check.

This week's MFN is about telling Trump you're going to do things, not doing them, and then hoping he doesn't notice. mostfavourednation.substack.com/p/strategic-...

Something anyone who has every had a toxic boss will recognise as an essential skill.

Asks the question of whether the third country approach to Trump's trade deals of sign and not implement is wise given what will happen after this administration. My first take is that because they aren't legally binding on the US then others will just renounce then renegotiate.

This week's MFN is about telling Trump you're going to do things, not doing them, and then hoping he doesn't notice. mostfavourednation.substack.com/p/strategic-...

Genuinely what are you meant to do with kids when the weather is like this

Where do parents find the time to parent? Less sleep, work and screens. Amazing chart feat. in @alphaville.ft.com Further Reading. homeeconomics.substack.com/p/where-do-p...

I give you the youngest’s requested meal this evening: bread bun (no butter), tuna (specifically not in bun), raspberries, red pepper.

Peas and cornflakes. New parenting low point: unlocked.

Very good summary

As I get older I am increasingly convinced of one thing: we must get rid of Stonehenge

So let's get this straight. You "lost" your ring when metals prices were at a historic high and "found" it again after they had plunged. Sell high, buy low. There's no shame in shorting your wedding ring, Sam. Put the profits in Junior ISAs for the kids and tell them the story when they've grown up.

Update: Found it!

The EU is now going after Goldwind, the Chinese windmill maker, on the basis of its foreign subsidies regulation. In-depth investigation, following information gathering after April 2024. ec.europa.eu/commission/p...