Rethink Trade fights to ensure that future trade deals prioritize human need over corporate greed | Director: @WallachLori | Research Director: @DanielRangelJ
Washington, DC
Joined January 2022
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July 4th BBQ burgers breaking the bank? 🍔 Check out our report on record-high beef prices that tariffs haven’t caused, imports haven’t lowered & the cattle cycle can’t explain. There is fix -- if the actual cause is targeted!📷<🧵
Rethink Trade retweeted
As Trump's incoherent trade policy fails to deliver jobs or revitalize manufacturing, @RethinkTrade Director @WallachLori explains Trump's promises are achievable if trade is balanced the right way.
"For our resilience and health, we cannot remain 90 percent reliant on imports of essential medicines from a few countries. For our stability and competitiveness, we must produce more of what we need for our basic infrastructure, from steel and microchips to cutting-edge batteries and communications gear to solar and wind equipment. For our security, we must produce aerospace equipment, ships, and rare-earth magnets."
Rethink Trade retweeted
Useful piece explaining likely outcomes today’s big chronic global trade imbalances will foment
And depending on actions various governments do/don’t take what nations and people will bear the worst consequences
Plus very useful summary of past such episodes by @michaelxpettis
“The trade imbalances that have come to characterize the global economy are fundamentally untenable.” Read @michaelxpettis on which countries will bear the brunt of the coming economic reckoning.
foreignaffairs.com/united-st…
Rethink Trade retweeted
Each time Trump has increased beef imports & cut tariffs, the retail price of beef kept rising! Trump's "free trade" solition only helps boost meat packing monopolists' profits. And, by squeezing ranchers, shrinks the US beef herd, which raises prices 2/2
rethinktrade.org/hamburgerhe…
Rethink Trade retweeted
Trump recently KILLED Packers & Stockyard Act regs to break up the 4 beef processing giants controlling 85% of ALL US beef. Their monopoly power lets them keep beef prices we pay high but pay ranchers less when Trump ups beef imports
Shocking data in our new report shows... 1/2
Rethink Trade retweeted
GOP & Dem AGs make a US Big Tech corp. pay more $17 BILLION for online risks to kids. But the Trump administration is threating tariffs against the European Union saying their much smaller fines over Big Tech abuses are discriminatory attacks on US firms? rethinktrade.org/reports/tru…
Rethink Trade retweeted
"This situation is... the most stupid trade fight in history."
"You have... this fight between two visions, neither of which are good for working people... The tariff chaos and malpractice is so severe. But the problem is, in Mark Carney, there is sort of the high priest of neoliberalism..."
WATCH: @RethinkTrade's @WallachLori discusses the ongoing trade fight with Canada on @democracynow
Rethink Trade retweeted
This is a political & personal spat. It could escalate to $$ damage given neither Trump nor Carney can be seen as caving. Trump's mess is obvious
Carney less so. He's an elitist neoliberal troll who only became PM by pledging to stand up to Trump. He's using that cover to... 2/4
Rethink Trade retweeted
The US-Canada tariff fight is boneheaded, but contrary to breathless news coverage, it's NOT a big deal economically, YET
US tariffs on $25B of Canadian imports to US hit less than 1/2 of 1% of total US goods imports. Canadian tariffs on US imports hit 3% of total 🇨🇦 imports 1/4
Ostensibly tariff-loving pro-rancher Trump is again cutting tariffs & increasing beef imports. He says this will lower beef prices for consumers. But prices increased after past such moves.
Trump just killed Biden-era regs to counter the beef-packing monopoly that would help… 1/5
Trump’s move to increase beef imports will further crush independent ranchers, limiting herd growth.
With just 4 mega meat-packers controlling most US beef sales, they can keep consumer prices high & gain windfall profit from cheap imports for our Labor Day cookouts. 4/5
You can read the full story of how the US beef industry got here, and what we can do to fix it, at this link to the “Hamburger Hell: Record High Consumer Beef Prices that Tariffs Haven’t Caused, Imports Haven’t Lowered, and the Cattle Cycle Can’t Explain but that Can Be Fixed” report: rethinktrade.org/hamburgerhe… 5/5
ICYMI: @WallachLori was on @majorityfm with @EmmaVigeland and discussed her @ForeignAffairs piece “The Right Way To Balance Trade”—and how it’s relevant to Trump’s trade war with Canada. Watch the full interview here: youtube.com/watch?v=bNk35hNo…
And to read the full Foreign Affairs op-ed without a paywall, use this link: foreignaffairs.com/united-st…
@RepDebDingell is right: Trump’s Canada tariffs won’t help working families. But Canadian PM Carney’s pro-forced-labor China EV imports, pro-TPP plan is ALSO bad for working people.
The way to go? @RepDeLauro’s Fair Trade For Working Families resolution. 1/4
You can read the full text of the resolution here.
The text lays out key principles of how to use trade policy to foster economic security for more people, improve wages and the environment and counter corporate abuses: delauro.house.gov/sites/evo-… 3/4
Finally, you can also see the list of cosponsors at this link: congress.gov/bill/119th-cong…
If your Member of the House of Representatives has not joined as a cosponsor, please urge them to do so! 4/4
Rethink Trade retweeted
The trade war with Canada underscores the need to balance trade the right way.
But what does that mean? @RethinkTrade Director @WallachLori, for @ForeignAffairs, lays out a vision that would work for America and its allies:
"Neither the neoliberal order nor Trump’s second-term pandemonium offers a way forward. But a new approach could yet capture the considerable benefits of trade—if the rules were designed explicitly to promote balanced trade, fair and competitive markets, and a floor of labor and environmental standards."
Rethink Trade retweeted
"A lot of the consumer price effects we're told are caused by tariffs are really just price-gouging."
WATCH: Corporations are taking advantage of Trump's tariff chaos to line their pockets. @RethinkTrade Director @WallachLori explains on @majorityfm👇