The harm to US industry imposed by the steel and aluminum tariffs announced last night is especially obvious with regard to imports of aluminum from Canada 🧵 The number of American workers who would stand to benefit from a 25% tariff on aluminum imports are outnumbered 177-to-1 by American workers employed in downstream industries who would be harmed by the tariffs. (chart by @mercatus) /2

Tariffs and Manufacturing: These 25% tariffs on goods from Canada and Mexico would cause severe harm to many US manufacturers. 🧵 Half of all imports are materials, inputs, and equipment used by US manufacturers; they often aren't available in sufficient quantities from domestic sources. And there's no slack in the US economy, which is at full employment. /2

USTR is seeking comments on supply chains and trade policy. In its notice, it describes the past several decades of U.S. trade policy as a "race to the bottom… It has also contributed to the hollowing out of the American industrial base and vital U.S. jobs." Really? 🧵 USTR's notice is unusually political in tone for a Federal Register Notice, with a background section replete with unsupported assertions like the above. /2 federalregister.gov/documents/2024…

Examples of US-Canada cooperation in the fight against COVID-19: A THREAD

[subtext! trade barriers and export controls would put these efforts at risk] BC-based Harmac Pacific’s paper mill has doubled its pulp exports for US customers to make surgical masks and gowns. It’s “the world’s only producer of the particular grade of paper pulp used in the manufacture of surgical masks and gowns” vicnews.com/business/nanai…

Q: Can the threatened 5% tariff on all imports from Mexico even be collected starting Monday, June 1? Does CBP have the capacity to collect these duties? A short thread 1/ Tariffs on imports from Mexico were eliminated years ago. As a result, many importers have no experience paying duties to CBP. To make such payments, a firm must establish an ACH debit/credit account at CBP so you can wire funds from your bank to CBP. /2

DAIRY DISASTER: US trade policy is inflicting substantial harm on US dairy producers. It’s a perfect storm spawned in large part by tariffs unleashed in Washington.

THREAD /1 Mexico is the top export market for US dairy products: Mexicans bought nearly $400 million of US dairy products last year. The US is the largest dairy supplier to Mexico, and Mexico accounts for about one-quarter of US dairy exports (see letter signed by 60+ dairy groups). /2