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Tariffs

Daily Bread, Economics, Economy, Hypocrisy, Ignorance, Tariffs, Taxes/Taxation, Wisconsin, WISGOP

Daily Bread for 4.11.25: Clueless and Cowed

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Good morning.

Friday in Whitewater will be partly sunny with a high of 53. Sunrise is 6:19 and sunset is 7:33, for 13 hours, 14 minutes of daytime. The moon is a waxing gibbous with 98.2 percent of its visible disk illuminated.

On this day in 1945, American forces liberate the Buchenwald concentration camp:

A detachment of troops of the U.S. 9th Armored Infantry Battalion, from the 6th Armored Division, part of the U.S. Third Army, and under the command of Captain Frederic Keffer, arrived at Buchenwald on 11 April 1945 at 3:15 p.m. (now the permanent time of the clock at the entrance gate). The soldiers were given a hero’s welcome, with the emaciated survivors finding the strength to toss some liberators into the air in celebration.

Later in the day, elements of the U.S. 83rd Infantry Division overran Langenstein, one of a number of smaller camps comprising the Buchenwald complex. There, the division liberated over 21,000 prisoners, ordered the mayor of Langenstein to send food and water to the camp, and hurried medical supplies forward from the 20th Field Hospital.

We hear so much from this rightwing party, from its leaders and activists across the nation, state, and city about low taxes. And yet, and yet, they supported the leader who said time and again that he would raise tariffs. These tariffs are taxes on Americans. Across Wisconsin, the Congressional Republicans who’d scream and squeal at the very mention of taxes are now silent:

A handful of Republicans on Capitol Hill are pushing to give Congress more oversight over President Donald Trump’s sweeping tariffs, but Wisconsin’s Republicans are not among them. 

In interviews with the Milwaukee Journal Sentinel, the state’s GOP delegation largely dismissed questions about legislative oversight, instead praising the president for imposing the levies — some of which were temporarily paused this week — on scores of foreign trading partners.

Sen. Ron Johnson, the only member of the delegation to publicly express concerns over the tariffs, on Thursday predicted measures aimed at giving Congress a bigger role in the tariff process would fail. And Wisconsin’s House members stood in line with Trump’s moves this week that have shaken global markets. 

“I like the way it’s playing out, actually,” Rep. Scott Fitzgerald said Tuesday, when asked if Congress should play an oversight role on the implementation of the tariffs. “I think after a couple days, it’s playing out pretty well.”

See Lawrence Andrea, Wisconsin Republicans silent on tariff oversight as colleagues push for Congress to have a say, Milwaukee Journal Sentinel, April 11, 2025.

Fitzgerald: not merely ignorant, but confidently proud of it.

Note well: At no time, over these many years, have any economic concerns that I have expressed at FREE WHITEWATER ever been about my situation; this libertarian blogger has no personal complaints to make. (Nor would I make them here, even if I had any.)

It’s simply the case that so very many loud & proud anti-tax men are silent on tariffs (being too ignorant or too hypocritical to admit how destructive they are).

World’s oldest gorilla celebrates 68th birthday at Berlin zoo:

Fatou, the world’s oldest gorilla, was presented with a basket full of fruits and vegetables as she celebrated her 68th birthday at the Berlin zoo.

Authoritarian Populism, Authoritarianism, City, Daily Bread, Economics, Economy, Local Government, Nativism, Never Trump, Recession, Special Interests, Tariffs, Wisconsin

Daily Bread for 4.4.25: Is Hyperlocal Politics Finally Dead?

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Good morning.

Friday in Whitewater will be sunny with a high of 50. Sunrise is 6:31 and sunset is 7:25, for 12 hours, 54 minutes of daytime. The moon is a waxing crescent with 45.1 percent of its visible disk illuminated.

On this day in 1865, a day after Union forces capture Richmond, Virginia, President Lincoln visits the Confederate capital.

In this last generation, Whitewater, Wisconsin has felt the effects of national calamities: the Great Recession, a pandemic, an insurrection, and now a trade war.

In each case, a small group of local men and women carried on as though local affairs were paramount1; in each case, they did so while conditions in the city grew worse from those national calamities.

Now comes another calamity, and with it a few likelihoods.

Those who supported the authoritarian movement that made a pandemic worse, inspired an insurrection, the return to power of a would-be king, and now a global economic crisis will never admit that they were wrong. Never. They wanted this and they will continue to want this, all of it.

Those who cannot see past Townline Road won’t develop broader horizons. It’s all roads, press releases, and sanewashing with that crew. They’ll keep thinking that if you talk to a hyena in a soft voice that foul creature will give up meat for vegetables. They’d probably keep thinking this even as that carnivore crunched on the nearest human femur2.

There are, however, many more residents in this city, in this state, and this nation who will stand opposed to wholesale ruin.

Of that ruin, there are months and years of damage3 ahead, with this only a portion:

Is “recession” now spelled T-A-R-I-F-F? 

Markets were gripped by the recession trade after President Trump’s tariffs on Wednesday threatened a global trade war. Treasury yields, stock futures and the dollar all plunged.

This isn’t mere market hyperbole. Thursday was only the sixth time in history that the S&P 500 had fallen more than 4% while the dollar also fell more than 1%—with investors shocked that the greenback had failed in its usual role as a safe haven.

The carnage in the markets might be just the beginning: If the biggest U.S. tax rise since at least the 1950s causes the economy to shrink, stocks and Treasury yields still have a long way to go down.

As recessions take hold, stocks are hit both by lower earnings and by lower valuations, as spending falls and savers switch to safer assets. Defensive stocks better able to maintain sales—such as sellers of food and other household staples—beat those selling optional purchases such as luxury goods and cars, known as cyclicals.

See James Mackintosh, Market Upheaval From Trump’s Tariffs Could Be Just the Beginning, Wall Street Journal, April 3, 2025.

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  1. By contrast, this libertarian blogger has argued that the betterment of the city comes from applying the best of the nation. See FREE WHITEWATER, ‘How Many Rights for Whitewater?’, ‘What Standards for Whitewater?’, and ‘Methods, Standards, Goals’ (2013). ↩︎
  2. The last words of these sad types would likely be along the lines of ‘but I tried to be bipartisan!’ ↩︎
  3. The greater losses have been and will be to individual rights. ↩︎

We’ll have more than egg prices to worry about:

See Matt Grossman, Near-Term Inflation Expectations Surge, Wall Street Journal, April 3, 2025.

Business, Daily Bread, Economics, Economy, Free Markets, Tariffs, Wisconsin

Daily Bread for 3.24.25: Retaliatory Tariffs Target Wisconsin Industries

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Good morning.

Monday in Whitewater will be windy with a high of 45. Sunrise is 6:50 and sunset is 7:12, for 12 hours, 22 minutes of daytime. The moon is a waning crescent with 28.7 percent of its visible disk illuminated.

Whitewater’s Urban Forestry Commission meets at 5:30 PM and the Police and Fire Commission at 6 PM.

On this day in 1603,  Tokugawa Ieyasu is granted the title of shogun from Emperor Go-Yozei, and establishes the Tokugawa shogunate in Edo, Japan.

Sowing, reaping:

Farm and construction equipment manufacturers started the year with high hopes for the economy, bolstered by President Donald Trump’s campaign promises to cut taxes on domestic producers and slash government regulations.

But that optimism has given way to fears of a possible recession, sparked by Trump’s international trade war, said Kip Eideberg, senior vice president for the Association of Equipment Manufacturers, a national trade group based in West Allis.

“If we are dragged or pushed into a recession as a result of the tit for tat tariffs, that’s a whole ’nother level of pain,” he said. “That’s the biggest fear right now.”

….

China, Canada and the European Union plan to hit Wisconsin’s two largest industries, agriculture and manufacturing, with retaliatory tariffs. The moves come in response to Trump’s tariffs on steel and aluminum and his broader threats and use of tariffs.

Almost 10 percent of Wisconsin’s jobs — or nearly 300,000 — were in industries those countries are targeting. That’s the largest share of any state in the country, according to an analysis from The New York Times. 

See Joe Schulz, Retaliatory tariffs target Wisconsin’s top industries, Wisconsin Public Radio, March 21, 2025.

From the New York Times, here’s the portion of the story to which the WPR story refers:

Rural parts of the country are once again at risk from retaliation. Agriculture is a major U.S. export and farmers are politically important to Mr. Trump. And rural counties may have one major employer — like a poultry processing plant — that provides a big share of the county’s jobs, compared with urban or suburban areas that are more diversified.

The retaliatory tariffs target industries employing 9.5 percent of people in Wisconsin, 8.5 percent of people in Indiana and 8.4 percent of people in Iowa. The shares are also relatively high in Arkansas, Alabama, Mississippi, Kentucky and Kansas.

See Lazaro Gamio and Ana Swanson, Trade War Retaliation Will Hit Trump Voters Hardest, New York Times, March 15, 2025.

Why humans have puzzle-shaped cells:

The shapes of these cells are puzzling. They have wavy edges and protrusions and fit together a bit like puzzle pieces. But what is it for? New research looking at the lymph capillary cells, found throughout human tissues, has determined how exactly these tiny vessels are able to let fluid and immune cells pass through between them while also being strong enough to resist rupturing under pressure. Their unusual shape seems to be key…

America, City, Culture, Daily Bread, Economics, Economy, Tariffs, Taxes/Taxation, Trump, Trumpism, Wisconsin

Daily Bread for 3.11.25: Doubling Down on Ignorant Economics

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Good morning.

Tuesday in Whitewater will be windy with a high of 53. Sunrise is 7:13 and sunset is 6:57, for 11 hours, 44 minutes of daytime. The moon is a waxing gibbous with 93.2 percent of its visible disk illuminated.

Whitewater’s Public Works Committee meets at 5 PM.

On this day in 1941, President Roosevelt signs the Lend-Lease Act into law, allowing American-built war supplies to be shipped to the Allies on loan.

Monday in America: The Rapidly Declining Economic Climate.

Tuesday in America:

President Donald Trump said Tuesday that he will double his planned tariffs on steel and aluminum from 25% to 50% for Canada, escalating a trade war with the United States’ northern neighbor and showing an indifference to recent stock market turmoil and rising recession risks.

Trump said on social media that the increase of the tariffs set to take effect on Wednesday is a response to the price increases that the provincial government of Ontario put on electricity sold to the United States.

“I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD,” Trump posted Tuesday on Truth Social.

After a brutal stock market selloff on Monday and further jitters Tuesday, Trump faces increased pressure to show he has a legitimate plan to grow the economy instead of perhaps pushing it into a recession. But so far the president is doubling down on the tariffs he talked up repeatedly during the 2024 campaign and throwing a once stable economy into utter turmoil as investors expected him to lead with deregulation and tax cuts instead of colossal tax hikes.

See Josh Boak, Rob Gillies, and Michelle Price, Trump doubles planned tariffs on Canadian steel and aluminum to 50% as trade war intensifies, Associated Press, March 11, 2025.

Update, 3.12.25: Only hours later on Tuesday, Trump reversed course. (Trump defines decisive down.)

The reporting is sound: tariffs do act as tax hikes, and Trump’s tariffs will be, in effect, colossal tax hikes on consumers and businesses. All America will feel them.

See Firefly’s Blue Ghost moon lander drill, vacuum and deploy electrodes:

The Firefly Aerospace Blue Ghost moon lander has begun its work on the moon using its drill, vacuum and electrodes. Blue Ghost has drilled into surface to determine heat flow from interior of Moon. It has deployed four tethered Lunar Magnetotelluric Sounder (LMS) electrodes and an 8-foot mast to study the deep interior of the moon. Also, it’s Lunar PlanetVac collects lunar soil and more using pressurized nitrogen gas.