Caption contest

Mexico raised tariffs of up to 210% on sugar imports from countries with which it doesn’t have a trade deal, part of a plan to protect the domestic industry from falling prices.

Finally found my true calling: “sofa”

Speaking of which! bsky.app/profile/raja...

So this sort of rules of origin definition already exists in the context of eg EU rules of origin for fish, where the ownership of the vessel that caught them matters. on.ft.com/3Lt93Kh Here’s what a new US-Mexico-Canada trade deal should look like

Some new thoughts on how, if you were the President of the US and a court were to tell you you are not allowed to do some tariffs, you could absolutely do some other tariffs. mostfavourednation.substack.com/p/how-to-do-...

Some new thoughts on how, if you were the President of the US and a court were to tell you you are not allowed to do some tariffs, you could absolutely do some other tariffs. mostfavourednation.substack.com/p/how-to-do-...

Portugal or South Wales?

Morning. 😴

This week's edition of Most Favoured Nation is about Men. Manly men, men. mostfavourednation.substack.com/p/man-tariffs

Apparently tariffs and masculine. Or something. By Mr @samuelmarclowe.bsky.social mostfavourednation.substack.com/p/man-tariffs

This week's edition of Most Favoured Nation is about Men. Manly men, men. mostfavourednation.substack.com/p/man-tariffs

One of those “am I damp because of the rain or the sweat” kinda days

Japan turns to anti-dumping measures as international trade gets complicated, with an uptick in the number of probes this year indicating an evolving strategy.

Bloomberg: EU considering forcing Chinese firms to hand over tech to European companies if they want to operate locally. as part of a legislative proposal called the Industrial Accelerator Act - expected in November

Looking forward to winning a Nobel prize later for my contribution to the trade literature. (“Thats kinda not how tariffs actually work”)

The best thing about being on the Eurostar is leaving the UK so the phone signal starts working again

This is a good post about why I [me, not an economist] was right when I wrote this over a year ago. open.substack.com/pub/mostfavo...

This is great.

This week’s edition of Most Favoured Nation discusses steel clubs, the limits of the special relationship, and some other things … But is mainly an excuse to share some photos. open.substack.com/pub/mostfavo...

My entire career

This week’s edition of Most Favoured Nation discusses steel clubs, the limits of the special relationship, and some other things … But is mainly an excuse to share some photos. open.substack.com/pub/mostfavo...

Morning.

Good morning!

The vibe.

Apparently @samuelmarclowe.bsky.social is so committed to his craft that he went to Greenland prospecting www.politico.eu/article/uk-g... mostfavourednation.substack.com/p/digging-up...

Some thoughts! mostfavourednation.substack.com/p/exit-music...

How do you impose tariffs on a movie, I hear you ask. Well ...

I liked the part where the main character gets turned around at the Mexican border because the package he's carrying doesn't properly account for how much of its value added was US steel.

Just finished Death Stranding 2. Good game!

New MFN just landed hard, like an overnight tariff announcement. open.substack.com/pub/mostfavo...

New MFN just landed hard, like an overnight tariff announcement. open.substack.com/pub/mostfavo...

The vibe.

🚨🚨!!EMERGENCY NEWSLETTER!!🚨🚨 Where is a nice cup of tea really from? open.substack.com/pub/mostfavo...

I'm looking forward to tea production stats from English tea growers (shout out to www.dartmoorestatetea.com, tregothnan.co.uk, and peterstontea.com) that look like this chart...

You mean it's not from Yorkshire?

🚨🚨!!EMERGENCY NEWSLETTER!!🚨🚨 Where is a nice cup of tea really from? open.substack.com/pub/mostfavo...

Since the beginning of the year/of time, I have been boring people by going on about rules of origin. In particular, why large country-by-country tariff means the US will start to pay more attention to where a product is from. From Feb: open.substack.com/pub/mostfavo...

This week's edition of Most Favoured Nation asks Where is the tariff inflation? mostfavourednation.substack.com/p/where-is-t...

This is really good from @samuelmarclowe.bsky.social mostfavourednation.substack.com/p/where-is-t...

Read Dom's thread!

I have much more sympathy for the idea that the pass-through to consumer prices could rise in line with the usual season pattern of inventory accumulation. Meaning the next couple of months of data are going to be really important.

I have a different take on the Baldwin/Lowe theory about the 10% tariff constraining Chinese exporters. Almost think that phrasing has it backwards. Because if you look at the data compiled by PIIE it's pretty clear that the effective tariff rate on imports from China has risen a lot.

This week's edition of Most Favoured Nation asks Where is the tariff inflation? mostfavourednation.substack.com/p/where-is-t...

@samuelmarclowe.bsky.social posed an interesting question a few months about the prospect of Chinese EV production reshoring to circumvent rules of origin tariffs. mostfavourednation.substack.com/p/where-is-i...

It hasn't happened quite yet, but I feel like we're getting closer and closer to the US doing tariff deals with invdividual companies ... mostfavourednation.substack.com/p/most-favou...

In trade deals, the headline tariff matters less than the relative advantage. And here, both sides walk away with wins, just measured differently #FunTradeFactFriday Source: Article by @samuelmarclowe.bsky.social 👉 mostfavourednation.substack.com/p/a-few-thou...

Mexico to raise tariffs on cars from China to 50% reut.rs/4giHOxb

This week's MFN ponders the Trump threat that hasn't really barked yet: Digital Services Tax tariffs. mostfavourednation.substack.com/p/death-and-...

This week's MFN ponders the Trump threat that hasn't really barked yet: Digital Services Tax tariffs. mostfavourednation.substack.com/p/death-and-...