Trade diversion.

IEEPA was enacted in 1977 during the Tokyo Round trade talks. We were joined by Members of Congress in both tariff and non-tariff negotiations. I never saw any indicaton that they planned to give up their powers to control tariffs.

Happy SCOTUS IEEPA tariffs hearing day! We won't know for a while how justices will split the conservative baby between MAGA and Koch Brothers laissez-faire, but my guess is Trump will keep custody.

Mamdani: "New York will remain a city of immigrants, a city built by immigrants, powered by immigrants, and as of tonight, led by an immigrant."

1. In the wake on Mamdani’s win, we’ll see a lot more far right anti-urban sentiment. Here’s a thread on its roots and evolution. The idea that the city is evil and corrupt, and the countryside innocent and pure, goes back a long way: to Theocritus in Alexandria, and to the Old Testament. 🧵

This is insane, and now I know why a helicopter buzzing repeatedly woke me up at 4:30am that day. This time they wanted to be done before the traffic started, but the helicopter might've given it away? This cruelty needs to be widely publicized. @marisakabas.bsky.social @georgetownuni.bsky.social

Ottawa bracing for retaliatory tariffs if Toronto takes the World Series tonight.

With Trump still on Air Force One en route back from China talks, the Senate just voted 51-47 to end the national emergency that underpins his tariff powers. This is a symbolic vote that won't get through the House. But the timing is striking between trade talks and next week's Supreme Court ruling.

More big news: the Senate just passed my bipartisan resolution to end Trump's global tariffs. This is a huge win and shows how unpopular Trump's tariffs really are. Now it's time for Mike Johnson to abandon his 6 week vacation and get this passed in the House.

The Trump administration is pushing the US onto a low-productivity, low-growth path

"Recordings allegedly expose a coordinated plot by senior figures of the opposition National Party of #Honduras (PNH), a member of the National Electoral Council (CNE), & elements within the armed forces to manipulate the will of the people & distort the results of the elections"

Not to be outdone by anybody, Trump turns up his trade diplomacy to 12...just to go back to where things were before he upended trade relations: Trump and Xi Ease Off the Trade War, but New Nuclear Threat Brings a Chill www.nytimes.com/2025/10/30/u...

I'm old enough to remember when it was *easy* to win a trade war: Trump and Xi, Hoping to Ease Trade War, Agree to 1-Year Truce www.nytimes.com/2025/10/30/b...

Janice Huijun Yan & Randall Morck find that the stocks of firms headquartered in counties that tend to vote Republican fell more than the stocks of firms in 'bluer' counties following Trump's announcement of "Liberation Day" #tariffs. cepr.org/voxeu/column... #EconSky

#CUSMA may be doomed and Canada-US trade talks are going nowhere fast, proposes @policyalternatives.ca researcher Stuart Trew on @ctvnews-mirror.bsky.social this morning. #cdnpoli #canlab www.ctvnews.ca/video/2025/1...

We have reached the point where the *American Bar Association* cannot find attorneys willing to represent them in litigation against the Trump administration. www.washingtonpost.com/national-sec...

War. What is it good for? www.youtube.com/watch?v=01-2...

While MAGA is hating on scientists and government, these unpaid public servants are flying into the middle of a dangerous hurricane to help save the lives of complete strangers.

This is the only safe way for MAGAtes to express publicly their same-sex preference.s

An embarrassingly obvious point, but... This. Is. Illegal. If anything like the rule of law were in force, Trump couldn't arbitrarily increase a tariff because he is annoyed. In important and increasing ways, the rule of law in the US no longer exists. www.cnn.com/2025/10/25/b...

Just a reminder that as unpopular as President Trump is, Democrats are not offering voters a credible alternative. The two Democrats seen most unfavorably are the two most well known.

America first, except when it's Argentina beef.

US to probe China’s compliance with 2020 trade deal, New York Times reports reut.rs/43uXkB1

Christmas decor suppliers and retailers are warning that tariffs will lead to higher prices and less inventory, as the bulk of the manufacturing and materials come from China.

Imagine no IEEPA tariffs #EconSky econbrowser.com/archives/202...

America's firs...er, first after financial ne'er-do-wells led by aspiring fascists.

Exquisitely crafted pianos, #MadeinNY, are relatively insulated from Trump tariffs--not so much other US manufacturing eneterprises: I talked to @cnn.com's Joel Williams www.cnn.com/2025/10/18/b...

How long until MAHA starts pushing soy protein-based diets to rescue Trump from his reciprocal trade follies? A. Tofurky for Thanksgiving B. Mapo March Madness C. Never

Chris Murphy: "This is a country that's falling apart because Trump is in the middle of an authoritarian takeover. We're not on the verge of an authoritarian takeover. We're in the middle of it ... I have no moral obligation to vote for a budget that literally funds the destruction of our democracy"

Come on, @nytimes.com Spelling Bee. Get yourself a word-a-day calendar.

Trump trying to rebrand IMF food riots as anti-American riots.

A Trump trade deal is never over. It's an invitation to perpetual conflict.

A farmer on Trump trade: "It's total bullshit. Human lives are at stake. It's stupid. The whole thing is stupid."

"An attorney for a building trades union told me that a witness in a wage theft case in another state was recently targeted and deported by ICE. The union believes the employer encouraged ICE to target the worker, in a bid to undercut the wage theft case. " prospect.org/labor/2025-1...

Then I guess depleting water reserves, driving up electricity prices, and fueling one of the largest investment bubbles in history will have been worth it.

"Stable trade relations require a pro-worker agenda at home and overseas, which Trump is leading us away from," said EPI's @ahecon.bsky.social at a National Association of Business Economists panel this morning. Check out Hersh's suggestions for progressive trade policy: www.epi.org/publication/...

We can produce vegetable oil and they can produce frontier-pushing high-technology goods. Trump is pushing mercantilism in reverse.

TFW you ask for an inside track and instead they give you Eric Trump. #FriendsLikeThese

I know it's kind of hard to follow the thread, but always remember: MAGAites running roughshod over the US Constitution are the ONLY ones who love America; the anti-fascist opposition hates core American values. #ignoranceisstrength

Looking forward to speaking at @NABE tomorrow morning, with Caroline Freund and Robert Koopman: Impact of Tariffs and Trade Wars on Businesses and the Global Economy In case you need to kill some time until Chairman Powell speaks after me. bit.ly/48uICNW

Looking forward to speaking at @NABE tomorrow morning, with Caroline Freund and Robert Koopman: Impact of Tariffs and Trade Wars on Businesses and the Global Economy In case you need to kill some time until Chairman Powell speaks after me. bit.ly/48uICNW

Good thing Trump and congressional Republicans are gutting EV manufacturing... www.telegraph.co.uk/business/202...

Happy Mid-Autumn/Moon Festival, all! 祝大家中秋节快乐！

"99.97 percent of families, even when given the option, chose to let their children learn about LGBTQ+ people." Nice result, and it reinforces everything Montgomery County said to SCOTUS before its theocrats made their dehumanizing ruling. open.substack.com/pub/erininth...

"mine baby mine" works on multiple levels here

C.I.A. Deputy Director Has Replaced Agency’s Top Legal Official With Himself It is not clear what is behind the move by Michael Ellis, a Trump loyalist. A legal ethics specialist said it could raise conflict-of-interest issues. www.nytimes.com/2025/10/06/u...

Conflict of interest, you say?

The Trump administration just took yet another equity stake in yet another private company, this time 10% in Alaskan miner Trilogy Metals. Sheesh. www.bloomberg.com/news/article...

Hi all! We're still waiting on the official posting - but @budgetlab.bsky.social is looking for a new macro hire to add to our team! We're agnostic on level (Recent PhD, decades of experience, MA+ research experience, who knows?) - we care more about flexible thinking and curiosity