WATCH: ‘Whose throat do I get to choke’ if tariff approach fails, Tillis asks trade rep
🤖 AI Summary
- 🗣️ Senator Tillis questions the 🤝 trade representative about the ”🫒 olive primo approach” to 💰 tariffs, expressing 😟 concern about its potential impact on 🤝 partners and 🌍 developing countries.
- 🗣️ Tillis seeks ❓ clarity on who is 🧑⚖️ accountable if the approach ❌ fails, emphasizing the need for a “☝️ one throat to choke”.
- 💼 The trade representative clarifies that 💊 pharmaceuticals, 💻 semiconductors, and certain sections related to 🔩 aluminum and 🇨🇳 Chinese imports are 🚫 excluded from this approach.
- 🏛️ The representative states that the 👨💼 president has directed that there will be 🚫 no exclusions on 🔩 steel, 🔩 aluminum, or products exclusively manufactured in 🇨🇳 China for the foreseeable future.
- ⏳ Tillis highlights the limited timeframe for ⏳ political patience, around 1️⃣4️⃣ months, and questions whether the 📈 benefits of the approach will be 👀 evident within that period.
- 😟 Tillis expresses 😟 concern for those who may bear the 🏋️♀️ brunt of short-term 💰 cost increases and potential 💼 job displacement.
- ⏳ Tillis emphasizes the importance of a ⏳ long-term play in 🇺🇸 American politics and public policy formation, which he believes is about 1️⃣2️⃣ months from the beginning of an administration.
- 🗣️ The discussion revolves around a ”🆕 novel approach” to trade, with 😟 concerns raised about 🧑⚖️ accountability and the potential 📉 negative impacts on various groups.
- ❓ A senator questions who is 🧑⚖️ responsible for the ”💯 all prima approach” and who will be held 🧑⚖️ accountable if it ❌ fails.
- 💼 The trade representative clarifies the approach 🚫 excludes 💊 pharmaceuticals, 💻 semiconductors, and certain tariffs.
- ✅ The representative confirms there will be 🚫 no exclusions on 🔩 steel, 🔩 aluminum, or products 💯 solely manufactured in 🇨🇳 China, until China 🔄 changes its stance.
- 😟 The senator expresses 😟 concern about the 💡 logic of the ”💯 all prima approach,” particularly regarding 🤝 partners and 🌍 developing countries.
- ⏳ The senator emphasizes the limited timeframe for ⏳ political patience, around 1️⃣4️⃣ months, and questions the ⏳ long-term effects on 🧑🤝🧑 people.
- 👴 The senator highlights the demographic of 🧑🤝🧑 people nearing retirement and their reliance on 🏦 401k statements, hoping they will feel 👍 positive about the trade approach.
📚 Book Recommendations
🌐 On Trade Policy and International Trade:
- 📚 “International Trade: Theory and Policy” by Paul R. Krugman and Maurice Obstfeld: 🎓 A widely used textbook offering a comprehensive overview of international trade theory and policy. 🌍 📝
- 🤝 “The Handbook of Global Trade Policy” edited by Andreas Klasen: 🌍 A comprehensive resource with contributions from experts on various aspects of international trade policy, 🏛️ governance, and 💰 finance.
- ⏳ “A Splendid Exchange: How Trade Shaped the World” by William J. Bernstein: 📜 A historical perspective on how trade has influenced global development. 🌍📈
- 🤔 “Globalization and Its Discontents” by Joseph E. Stiglitz: 🌍 😟 Examines the challenges and criticisms of globalization. 👎
- 🚶♂️ “Walking Out: America’s New Trade Policy in the Asia-Pacific and Beyond” by Michael L. Beeman: 🇺🇸 ➡️ 🌏 Analyzes the recent shifts in US trade policy, particularly in the Asia-Pacific region. 🌏
- 🚀 “Revolutionizing World Trade: How Disruptive Technologies Open Opportunities for All” by Kati Suominen: 💻 🌍 Explores how new technologies are transforming international trade. 💡
- ⚖️ “Trade Policy in a Changing World Economy” by Robert E. Baldwin: 🌍 🔄 Provides an introduction to complex trade issues, covering theoretical aspects and policy trends. 📈 📝
⚔️ On Tariffs and Trade Wars:
- 💥 “Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace” by Matthew C. Klein: 📊 😠 Argues that trade conflicts are linked to rising inequality. 💰 ≠ 🤝
- 📜 “Tariffs and Trade Wars: A Historical Analysis of Protectionism”: ⏳ ⚔️ Offers a historical perspective on the use and consequences of tariffs. 📜
- 📉 “Peddling Protectionism: Smoot-Hawley and the Great Depression” by Douglas A. Irwin: 🧱 📉 Analyzes the impact of protectionist policies during the Great Depression. 😟
- 🇨🇳 “No Great Wall: Trade, Tariffs, and Nationalism in Republican China, 1927-1945”: ⛩️ A historical study focusing on tariff policy in China during a specific period. 📜
- ❓ “Tariffs: Tools of Prosperity or Trade War”: 💰⚔️ Explores different perspectives on the role and impact of tariffs. 🤔