Tariff Spiral and WTO Failure Republican presidential nominee Donald Trump now says he will impose 200 percent tariffs on farm machinery from John Deere should the company move its manufacturing to Mexico. He said he would also provide incentives for foreign companies to move their operations to the U.S. But it gets more bizarre. The WTO accepted a dispute settlement case by China that challenges the Biden Administration’s Inflation Reduction Act and the tax credits it provides for domestic production of green energy. The White House argues the WTO carves out the right to subsidies for a green utopia and throws shade back on China for an industrial policy that dumps over-production on the rest of the world.   Still, the WT...

TAGS – North America, Macroeconomics