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A US tariff pathology is unleashed upon the world

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A US tariff pathology is unleashed upon the world

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Well, at least we now know what Donald Trump will do with tariffs, until he is seized by another whim. Perhaps it was better when we didn’t. The “reciprocal” tariffs announced on so-called liberation day were farcical, set by an arithmetic formula based on trade deficits in the apparent belief that current account imbalances can be fixed by trade policy. 

The US will apparently charge tariffs on exports from Heard Island and the McDonald Islands, a volcanic archipelago near the Antarctic inhabited only by penguins, and from Diego Garcia, a US military base. In theory tariffs trigger a currency appreciation to offset their effects but the dollar has weakened in response to this shambolic policymaking.

But this isn’t some general crisis of credibility in trade and globalisation. It’s largely a localised pathology, and particularly one of the Republican Party. The Democrats under Joe Biden accepted far too much of Trump’s first term tariff legacy, but at least with a vaguely coherent industrial policy rationale. The Republicans haven’t necessarily turned into a seething nest of protectionists, but their increasingly extreme bent ever since Richard Nixon took the party to the right in the 1960s has allowed a mindlessly destructive trade warrior to take over and they are too terrified to stop him.

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Accident, prejudice and unintended consequence play a bigger role in dysfunctional US tariff policy than the grand sweep of economic history might suggest. The “Tariff of Abominations” in 1828, which massively raised taxes on industrial imports, almost causing South Carolina to secede from the union because of the effect on agricultural trade, became law by accident. Lawmakers from southern farming states inserted destructive spoilers to prevent it being agreed and watched with horror as it passed nonetheless.

The notorious Smoot-Hawley tariff of 1930 similarly reflected politicking gone wrong. This time, Republicans proposed big industrial tariffs, which US manufacturers didn’t need, as a quid pro quo for introducing protection for farmers. They did not imagine that other countries would retaliate and set off a global spiral of protection that worsened the Great Depression.

This current case is not just a tactical mistake: it’s what happens when an ideological extremist becomes president. If there are any grown-ups among Trump’s economic team, they are locked in a cupboard when decisions are taken. Among them is Kevin Hassett, an orthodox free-trade economist who advised George W Bush and Mitt Romney but who is unable or unwilling to stop the chaos. Treasury secretary Scott Bessent was supposed to be the voice of the financial markets: he’s evidently silent or ignored. The animating drive is from Trump himself, who since the 1980s has had a wrong-headed view of tariffs based on an analogy with a corporate profit-and-loss account, and the trade warrior Peter Navarro, who appears closest to the president’s ear.

Under a president of the Bush mould, many of today’s congressional Republicans might well be willing to preserve a relatively open trading system. John Thune of South Dakota, elected as majority leader of the Senate in November, holds orthodox views on the need for more trade deals to open up markets abroad. But along with almost all his caucus, he has utterly failed to reassert Congress’s constitutional role in trade policy.

The consolation is that the rest of the world is much less likely to follow the US than it did in the 1930s, during which time the international gold standard was also inflicting profound damage and inducing extreme reactions from policymakers. Only the EU is likely to retaliate with tariffs and other import restrictions anywhere near dollar for dollar, and Brussels emphatically does not want to raise high and permanent trade barriers with the rest of the world.

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The US is a smaller share of the global economy than during the 1930s, and the risks of protectionism are far better understood. In the same way that Trump has kindled Canadian public patriotism and a geopolitical awakening among European leaders, his tariffs are more likely to act as a cautionary tale for other governments than an incentive to join the US in some fantastical “Mar-a-Lago Accord” to realign currencies.

There can be no logic-washing of Donald Trump’s tariffs. This isn’t part of a carefully-designed industrial policy or a cunning strategy to induce compliance among trading partners or a choreographed appearance of chaos to scare other governments into obedience. It’s wildly destructive stupidity, and the generations of American, and particularly Republican politicians, who allowed things to slide to this point are collectively to blame.

alan.beattie@ft.com

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Three more people charged with damaging Reflecting Pool after Trump’s multimillion-dollar restoration | CNN Politics

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Three more people charged with damaging Reflecting Pool after Trump’s multimillion-dollar restoration | CNN Politics

Three more people have been criminally charged with destruction of property at the Lincoln Memorial Reflecting Pool.

Officers say they detained Cameron Thiers, Sophie Dennison-Gibby and Justin Carreno one Saturday afternoon in June and described in court documents witnessing them peeling and removing pieces of blue paint from the Reflecting Pool.

One officer “witnessed Carreno reach down into the reflecting pool and pull up a piece of the blue paint,” according to the court documents.

The officer who detained Dennison-Gibby “found 1 additional piece of the reflecting pool liner” in her purse, the documents said.

All three incidents were recorded on the officers’ body worn cameras, they said in the court documents.

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Several “partnering law enforcement agencies assigned to the Reflecting Pool” working with US Park Police were involved in detaining the two men and one woman — including officers from Texas, Oklahoma, Montana and California.

One of the officers said in court documents that Thiers “admitted to removing a piece of blue sealant from the Reflecting Pool and still had it in his hand when I made contact with him.”

The three defendants were arraigned in court Wednesday and pleaded not guilty to the misdemeanor charges of destruction of property with a value less than $1,000. The judge ordered them to stay away from the Reflecting Pool.

Lawyers for Thiers and Dennison-Gibby declined to comment. CNN has reached out to Carreno’s attorney.

If found guilty of destruction of property, the defendants could be fined up to $1,000 and face a maximum of 180 days behind bars.

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The New York Times first reported that three additional people had been charged with damaging the Reflecting Pool.

President Donald Trump has repeatedly claimed that vandals caused major damage to the pool by gashing the lining after his administration spent more than $14 million on renovations, though he has not provided evidence to support that claim. The officers who charged Carreno, Thiers and Dennison-Gibby did not accuse them of gashing the lining.

Former Olympic canoeist David Hearn was indicted by a grand jury in Washington, DC, last week for allegedly damaging the Reflecting Pool. Hearn — unlike Carreno, Thiers and Dennison-Gibby – was charged with destruction of property with a value of more than $1,000 which carries a maximum penalty of 10 years in prison, if convicted. He is set to be arraigned in court Thursday.

Crews began draining the Reflecting Pool over the weekend to make repairs, according to Interior Secretary Doug Burgum, for the second time in three months.

The move comes after weeks of problems – algae blooms, green-hued water, a chipping bottom and the administration’s allegations of vandalism – that have plagued the iconic landmark, making its woes the subject of national interest.

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Supreme Court financial disclosures reveal how their books add to their income

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Supreme Court financial disclosures reveal how their books add to their income

Supreme Court Justice Amy Coney Barrett speaks at the Reagan Library on Sept. 9, 2025, in Simi Valley, Calif. Barrett discussed and signed copies of her new book, Listening to the Law: Reflections on the Court and Constitution.

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Even as the Supreme Court was handing down one legal thunderbolt after another last week, the justices were quietly releasing their annual financial reports. Justice Samuel Alito was the only sitting justice to request an extension, which he has done for 15 years. The disclosures do not give a complete account of the justices’ total income and wealth, but they give insights into their concertgoing, guest professorships and even their involvement in youth sports.

In addition to their salaries, much of the justices’ reported income came from their book deals. Justice Ketanji Brown Jackson led the pack earning more than $1.1 million last year for a total of roughly $4 million since her memoir, Lovely One, was published in 2024.

Justices Sonia Sotomayor, Neil Gorsuch, Amy Coney Barrett and retired Justice Anthony Kennedy also reported income from published books. Earnings from their books ranged from $849,000 for Barrett, to $300,000 for Gorsuch and $88,000 for Sotomayor, whose books include her 2013 autobiography and five children’s books. Justice Clarence Thomas, who previously earned $1.5 million for his 2007 memoir, listed no publisher payments last year, and Justice Brett Kavanaugh, one of 13 co-authors of a 2016 legal treatise, also received no payments last year. Kavanaugh is said to be working on a memoir but he listed no payments for the anticipated book. Alito does have a book coming out in the fall, but with his financial report still outstanding, there is no data on how much he was paid for the work in 2025.

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The only two sitting justices who have not written books are Chief Justice John Roberts and Justice Elena Kagan.

Many justices also earned income from teaching at law schools. Roberts reported income from New England Law, located in Boston, and Gorsuch reported teaching income from George Mason University in Virginia. Thomas taught classes at Catholic University in Washington, D.C., and Barrett and Kavanaugh taught at Notre Dame Law School. Barrett graduated from the school and began teaching there 23 years ago; Kavanaugh has family connections to Notre Dame.

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Manhattan Building’s Columns Buckled Beneath New Addition, Images Show

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Manhattan Building’s Columns Buckled Beneath New Addition, Images Show

At least two structural columns buckled and failed in a 37-story office tower in Midtown Manhattan on Tuesday, prompting evacuations of nearby streets and buildings. While city officials asserted that the tower was in no danger of collapsing completely, outside engineers said further failures in the structure could not be ruled out.

A pair of columns that failed completely were part of the tower’s existing structure. A New York Times review of images and videos from inside the building has found that several floors were added atop these columns.

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City officials said in a news conference on Tuesday that the building was continuing to move, while they simultaneously assured the city that the building would not suffer “total collapse.” “The way this building is constructed, it’s a steel-frame building,” John Esposito, a chief in the Fire Department in New York, said at the afternoon news conference. “So, it would not be a total collapse. It would be more of a localized collapse.” Still, he said, “that remains our concern, that it’s moved.”

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Engineers said that the movement itself was cause for concern. In a properly designed steel building, they said, loads should redistribute quickly to surviving structural supports if columns failed.

Joe DiPompeo, a former president of the Structural Engineering Institute at the American Society of Civil Engineers, said that if the structure had been overloaded, he would expect any movement “to happen very quickly,” rather than gradually.

“Generally when a column buckles, it’s a sudden failure,” Mr. DiPompeo said. He said that a full collapse remained unlikely given the redundancies built into the building codes.

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Engineers often refer to the most dangerous possibility as a progressive collapse, a process in which structures near the initial failure become overstressed and also fail, potentially bringing down the building if the sequence continues. While unlikely, it cannot be ruled out, Mr. DiPompeo said.

Footage recorded from inside the building shows at least two structural columns appear to have failed completely, Mr. DiPompeo said. Other nonstructural, interior walls — or at least the metal “studs” that were in place to hold them up — also appear to have deformed.

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“The only way that really happens is if the floor above them dropped. It looks like the floor above could have dropped a foot or two, which is obviously not a good situation,” Mr. DiPompeo said.

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The 37-story building is in the process of being converted from office space into residential units. Four new floors and a large vertical portion were added onto the existing building in recent months. The vertical portion consists of a stack of over a dozen new floors cantilevered out over the existing building below.

Engineers said that there was nothing inherently wrong with adding residential floors or the cantilevered section above the columns that failed, as long as the original structure and the modifications had properly accounted for the added weight and wind loads.

“The cantilever alone doesn’t change anything,” Mr. DiPompeo said, but it does put additional load on the columns underneath — a factor that should have been reflected in the design.

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Nathan Berman, managing principal and founder of MetroLoft, the developer overseeing the conversion, said on Tuesday that “this incident is nothing more than a typical construction mishap.”

He said two columns near the northwest corner of the tower had bent under the weight of additions to the building above, most likely because those columns had not been properly reinforced, though he said an investigation would determine the cause. The rest of the columns, he said, “picked up the weight.” He estimated the affected floors above the failed columns had sagged by a maximum of four inches.

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Mr. Berman said that he expected the problems to be fixed and the project to be completed with, at most, a slight delay.

On Tuesday evening, installation of temporary shoring was set to begin shortly, in order to help stabilize the 20th and 21st floors of the building.

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