The Biden Administration has done the impossible – it has united Congressional Democrats and Republicans on an issue, and not in a good way. It turns out that Congressional trade folks felt good when they came together back in 2020 and in a strong bipartisan fashion, voted overwhelmingly in favor of the USMCA. They wonder where is that level of ambition today?
Both Republicans and Democrats believe Article 2, Section 2 of the Constitution gives the Congress primacy over trade. They didn’t like it when Donald Trump ran roughshod over this fact, and they don’t like that Joe Biden is continuing to ignore it. They want the level of consultation required when the President is obligated under Trade Promotion Aut...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
