Trade Notes. Trump is not negotiating trade deals! He is setting new taxes! His tariffs raise the price of certain commodities and categories of goods, and also make business and consumers prices higher. He can set quotas for imports, to limit supply. Because trade is part of the global supply chain, it is complex and resists government action, building and clustering economies of scale is best for a single nation’s interests.
Economic Growth is pinned to demand. New production follows an established template:
Infrastructure in housing/transportation/public services (talk to anybody who has landed a site contract);
Business clusters and supply chains (why 5 West Virginia counties lead in US polymer chemical exports);
Financing and regulation (West Virginia again, tax breaks must go into research), and
Economies of scale (global relations Trump overlooks).
Racial Notes: The US political economy seldom explores racism but reveals racial thresholds. The black income gap (70%) and the black employment gap (2X/twice the white rate) have remained roughly constant for 50 years.
Question: Munchin and Mulvaney, “is the income gap constrained from the economy by racial narratives and white identity politics? Is the employment gap lost American productivity? Together, are they the fixed costs of racism?” The high cost of white privilege, America! Rarely discussed by men in dark gray suits.
Trump’s lower unemployment numbers didn’t change the disparity. Black workers remain unemployed at twice the white rate. Their wages are lower. Structural racism remains–a bold contradiction in the face of so many singular exceptions, which collectively have not added up to a threshold of change. The gap persists in the face of black success.