In recent developments swirling around the realm of labor statistics and trade negotiations, President Trump has once again made headlines with his decisive action and bold assertions. His latest move, firing a top labor official, centers around the growing concerns over unreliable jobs data. The drumbeat of skepticism about federal statistics is nothing new, but now it’s approaching a crescendo. The numbers coming out of the Bureau of Labor Statistics have been so unreliable that even Wall Street is scratching its head. If there’s one thing Americans rely on, it’s knowing how many jobs were added last month. Apparently, that’s become too much to ask.
Enter Eric, the President’s appointee, who is tasked with cleaning up this mess. While some might balk at such a decision, Kevin Hassett, an economic advisor, agrees it’s high time someone took charge. It’s not like numbers play a crucial role in understanding the economic health of the nation or anything, right? The lack of solid data is leaving even seasoned experts, who have dissected these reports for decades, thoroughly perplexed. Whether using tried-and-true surveys or more modern data collection methods, something is clearly amiss.
Shifting gears, President Trump has also turned up the heat on our neighbors to the north. Canada, with its extremely high tariffs, especially on U.S. dairy products, is now in the spotlight. The President’s stance is that while we love Canada, and have many friends there, the reality is their government’s leadership on trade has been less than stellar. Now, it’s time for them to make some changes if they want to continue enjoying the bounties of the U.S. consumer market.
Trade strategist Steve Moore weighs in by noting Canada’s protectionist stance on dairy and other products. The United States, Canada, and Mexico could all benefit from free trade—except, one little snag. Canada’s idea of “free trade” includes eye-popping tariffs. You have to admire their approach to playing fair: sure, we’ll have open trade, but only when it suits us. It seems the President’s not buying it, and he’s not afraid to wield tariffs as a pressure tactic.
As negotiations continue, the idea of a fair 15% tariff across the globe has been thrown into the mix. Some view this as a potential baseline where everyone plays on an even field. But purists, those steadfast defenders of free markets, argue it’s still too high. Why stop there? Lower corporate tax rates to match those tariffs and give a boost to American-made products. After all, nothing says “buy American” like a little incentive. Just maybe, something good can come out of this if all sides are willing to bend just a little.
