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Scott Lincicome Profile picture
@scottlincicome
May 3, 2018 • 9 tweets • 3 min read • Read on X
Quick thread:
So in the last few weeks, we've seen the #TNOIIECBAFTATPPAAFPDATW tariff t-shirt up and come to life 1/x
Tariffs not only impose immense economic costs... 2/
and (among many others) 3/
...But also fail to achieve their primary policy aims... 4/
And 5/
And (among many others) 6/
...And foster political dysfunction along the way. 7/
If only we had a way of knowing this would happen. If only there were a long and detailed history of America's protectionist failures. Or something. X/
(p.s. Shirts are still on sale here: amazon.com/s/ref=mh_bl_sl…)

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More from @scottlincicome

Scott Lincicome Profile picture
Oct 1, 2018
A thread on NAFTA 2.0's Good, Bad & Ugly:
First, a BIG caveat: there's a lot here, & it'll take time to draw definitive technical conclusions (esp given how the agreement is posted ustr.gov/trade-agreemen…). These are just initial opinions & subject to change as details emerge /1
The Good:
1) as @JimPethokoukis rightly points out (aei.org/publication/tr…), this is generally a victory for pro-trade/globalization forces. NAFTA's basic free(r) trade principles (goods & services) remain, & uncertainty is reduced (tho not eliminated, yet). /2
2) there's actually some trade liberalization in this deal! (Crazy, I know) Canada opens its dairy market a little (keyword: a little - 0.34%); the US in exchange opens up a little on dairy, peanuts, & sugar. Good for consumers (tho not ideal free trade). De minimis raised too /3
Read 20 tweets
Scott Lincicome Profile picture
Sep 29, 2018
While I was buying grass seed at the hardware store just now, I noticed that YETI now makes a 16oz coffee mug and have never impulse-bought anything faster. It is sweeeet. #DadLife
Yesss.
Also, #ProTip for you young dads out there as we enter aeration/overseeding season: splurge on the grass seed coated with fertilizer - not only does it grow faster, but the damn birds won't eat it!
Read 4 tweets
Scott Lincicome Profile picture
Sep 10, 2018
PSA: the entire city of Raleigh appears to be out of portable generators #Florence
And at least one Raleigh resident is kicking himself for putting off that generator purchase that he said he'd do this year.
He's also, btw, pretty annoyed at Amazon for not letting him get 2-day Prime delivery on a sweet 8000W generator that would keep most of his house running. So much for the 21st century.
Read 4 tweets
Scott Lincicome Profile picture
Aug 18, 2018
And no mention of the pricetag - in taxes & higher prices - of those job "gains"
Newsflash: the Government giving a handful of well-connected companies a tariff-based monopoly in the US market can, believe it or not, increase those companies' output and employment (at least for a while) /2
The problem, especially when it comes to tariffs, is that those new jobs ALWAYS come at a VERY high, direct cost to US consumers and the US economy more broadly. /3
Read 13 tweets
Scott Lincicome Profile picture
Jul 25, 2018
The EU statement makes clear that the steel/aluminum tariffs remain in force (& no concrete commitments). But the tone is better, and maybe(?) no auto tariffs as long as they keep talking.
europa.eu/rapid/press-re…
Let's unpack this statement, shall we?
Paras 1-3: happytalk
Paras 4-5: an agreement to start talking about a deal for full trade liberalization in "non-auto industrial goods" (ie, no cars, no ag) + reducing barriers in services, chemicals, pharma & soybeans. AKA "TTIP Very Lite"
(A very detailed rundown of TTIP's ambition is here: ustr.gov/about-us/polic…)
Read 9 tweets
Scott Lincicome Profile picture
Jul 7, 2018
Great grafs here from @JonahNRO:
nationalreview.com/g-file/patriot…
Also this one:
The speed with which American partisans have switched sides on "economic patriotism" - sometimes involving the exact same policy (eg solar panel protectionism) - would be breathtaking if it weren't so damn predictable and sad.
Read 6 tweets

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