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Although President Trump has claimed that tariffs will ultimately raise our standard of living, they really are taxes on consumers. Furthermore, tariffs also deny consumers the choices they want to make.
Original article: https://mises.org/mises-wire/tariffs-destroy-consumer-choice
Death toll rises from Texas floods as searchers continue to look for the missing. Looming tariff deadline. Israel's leader at the White House. CBS News Correspondent Steve Kathan has today's World News Roundup.
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Wednesday marks the deadline for countries around the world to strike new trade deals with the U.S. The steep reciprocal tariffs President Trump announced, and then delayed, back in April could come roaring back. Or maybe not. Mixed messages from President Trump and his advisors have left the outcome uncertain. But as the Wednesday deadline approaches, there are a number of new developments. Also on the show: consumer inflation expectations and knockoff clothing designs.
Monetarists have long believed that the Fed should pursue policies of low inflation in order to counter the effects of lower prices through enhanced productivity. Thus, they reason, overall prices will remain stable. Such policies actually promote economic instability.
Original article: https://mises.org/mises-wire/futility-price-stability-policies
From the BBC World Service: An alliance of emerging countries — which includes Brazil, South Africa, China and Russia — has criticized the Trump administration’s tariffs, causing the president to threaten them with an extra 10% tariff on trade. And as trade tensions rise, we take a look at how the art of negotiations are being transformed by the U.S. approach to trade deals.
Plus: At least 82 have died in Central Texas following Friday’s flash floods. And Tesla shares drop as Elon Musk promises to create a new political party. Luke Vargas hosts.
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A.M. Edition for July 7. President Trump threatens additional 10% tariffs on countries that align with the Brics group of emerging economies. WSJ deputy editor Quentin Webb says it kicks off a crucial week for trade ahead of a Wednesday deadline for dozens of countries to strike a deal with Washington. Plus, the search for survivors in Central Texas continues after flash floods on Friday killed at least 82 people. And Tesla investors question Elon Musk’s plans to form a new political party and send the stock tumbling in pre-market trade. Luke Vargas hosts.
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“Fierce Aunties” by author Laurel Goodluck (Mandan, Hidatsa, Tsimshian) is a colorful, enthusiastic celebration of the Indigenous women we need in our lives. Goodluck’s children’s book explores the many ways women provide support for the young people who look up to them. Another writer, Virginia Driving Hawk Sneve (Sicangu and Ponca), also explores the power of relatives in her young readers chapter book, “The Summer of the Bone Horses.” The book is also an homage to her late brother by telling an interesting piece of his story on the Rosebud Sioux Reservation in the late 1940s. Among the awards won by the long-time children’s book author and educator is the National Humanities Medal. Both books are illustrated by the talented artist Steph Littlebird (Confederated Tribes of Grand Ronde). We’ll hear from all three women about their work.
Break 1 Music: Xgap’isgu (song) Saltwater Hank (artist) Siip’Nsk (album)
Break 2 Music: Coffee (song) James Bilagody (artist) Near Midnight (album)