The Foreign Trade Thread

#233
#233
1972 Grad said:
Is that your Mexican lawn boy's first name?
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#238
#238
Velo Vol said:
It's far from clear that the president has authority to simply end NAFTA without Congress' approval.

We asked 6 experts if Congress could stop Trump from eliminating NAFTA
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Zeihan on Geo Politics newsletter:

For those thinking that Trump is a spent force because he’s about to face a mid-term wipe out, think again. Even in the event of a Democratic wave that turns the Congress blue, nothing changes. The U.S. Constitution clearly grants the presidency preeminence and autonomy in foreign affairs. When domestic politics hobbled Bill Clinton, George W Bush and Barack Obama, all three put more of their hours into international politics. At its fundamentals, trade policy is part and parcel of such foreign affairs issues. Congress might be required to stamp approval on new deals, but Congress plays no role if the executive wants to scrap old deals. Trump can even choose to cease executive workings for preexisting deals he might legally need Congressional approval to scrap. (You can thank George W Bush and Barack Obama for setting that particular precedent – they are the ones who decided to not enforce laws they disagreed with.)
 
#239
#239
Thunder Good-Oil said:
Congress might be required to stamp approval on new deals, but Congress plays no role if the executive wants to scrap old deals.
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He can say, "NAFTA is no more," but the laws Congress passed implementing the agreement are still on the books. They don't vanish.
 
#242
#242
Thunder Good-Oil said:
Trump's probably giddy that he has his #5 on SCOTUS. A lot of lawyers have hit the lottery with the incoming House.
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There was another president who stacked the bench so he could conduct all kinds of central planning initiatives. We ended up with back to back depressions
 
#248
#248
Velo Vol said:
This list is a reminder how topsy turvy things were before central planning (1870-1912).
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Oh yeah, it was horrible...

The Fed has been minimizing the year by year variance, but then we sometimes get catastrophic downturns that we hadn't seen before.

usgdp-deviation-background.jpg
 
#249
#249
Trump on twitter today patting himself on the back for getting trade relations with China almost back to where they were before he started a trade war.
 
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