I'll have more to say about inflation after tomorrow's CPI report. This article is really meant to lay a foundation for that discussion.
What we should understand is that tariffs have been making a return to political popularity around the world. Europe is putting up tariffs and trade barriers with China, and many of them are more restric…
I'll have more to say about inflation after tomorrow's CPI report. This article is really meant to lay a foundation for that discussion.
What we should understand is that tariffs have been making a return to political popularity around the world. Europe is putting up tariffs and trade barriers with China, and many of them are more restrictive than those in the US. China is doing what it can to retaliate.
The maritime trading order is shifting away from the quasi-cooperative globalist structure that has prevailed for the past several decades, and shifting back towards a more nationalistic model. We're not returning to true 19th century Great Power Competition just yet--mainly because the competition for colonial domination of the globe is not being done openly--but the world is definitely shifting in that direction.
That shift is going to have a much larger impact on prices in every country than any one set of tariffs, and over a much longer span of time.
I'll have more to say about inflation after tomorrow's CPI report. This article is really meant to lay a foundation for that discussion.
What we should understand is that tariffs have been making a return to political popularity around the world. Europe is putting up tariffs and trade barriers with China, and many of them are more restrictive than those in the US. China is doing what it can to retaliate.
The maritime trading order is shifting away from the quasi-cooperative globalist structure that has prevailed for the past several decades, and shifting back towards a more nationalistic model. We're not returning to true 19th century Great Power Competition just yet--mainly because the competition for colonial domination of the globe is not being done openly--but the world is definitely shifting in that direction.
That shift is going to have a much larger impact on prices in every country than any one set of tariffs, and over a much longer span of time.