So I have a new piece at @thedispatch on how Trump, w a big assist from Congress, finally broke the 85-year old US trade policy system - a mostly-benign constitutional compromise bt the branches that generally produced freer trade.
Not anymore. /1 thedispatch.com/p/how-donald-t…
Not anymore. /1 thedispatch.com/p/how-donald-t…
Tl;dr: the US trade policy system, in which congress delegated, w conditions, its trade powers to POTUS, relied on 3 core assumptions: 1) POTUS wld be the least protectionist person in govt; 2) POTUS wld adhere to the letter & spirt of laws granting him broad trade power; &... /2
3) if assumptions 1 & 2 proved wrong, a bipartisan Congress would look past any short-term transactional wins resulting from bad presidential trade behavior & vigorously push back on such actions bc the body "jealously guarded" its remaining constitutional power. /3
The Trump Era proved all 3 assumptions woefully incorrect, resulting in "national security" tariffs that admittedly have nothing to do w natsec; "free trade agreements" that actually restrict trade/investment; & a near-complete disregard for the aforementioned conditions. /4
And the price Trump will pay? Swift congressional approval of his signature trade deal (USMCA), almost no formal scrutiny/pushback re his other deals/tariffs/threats, & only a few members of congress (esp @SenToomey & @justinamash) yelling "STOP" /5
In FACT, congress just granted POTUS more power in the USMCA implementing bill!
And, barring a major change at the top in 2021, we should expect more of the same in the future.
Happy Monday! /x
And, barring a major change at the top in 2021, we should expect more of the same in the future.
Happy Monday! /x
