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1/ Why did Justin Wolfers cut his chart about a year after the washing machine tariffs? Not very robust! If you look out a few months further, the price increase vanishes. Huh. From Dec 2017-Dec 2019, "laundry appliance" prices rose less than "other appliance" prices.

2/ Yes, the tariffs produced a temporary (or is the fashionable word "transitory"?) shock. But less than two years later, price increase in laundry appliances is below CPI (so, real price down) and below appliances overall.

3/ As Jeff Ferry The Coalition for a Prosperous America has noted, the end result of the appliance tariffs was capital investment, new jobs, and no increase in prices. The LG plant in Clarksville, Tennessee (started before the tariffs) is a good illustration... industryweek.com/the-economy/tr…

Jeff Ferry The Coalition for a Prosperous America 4/ LG has expanded its U.S. appliance production in Clarksville and the factory is first in the U.S. to earn WEF "Lighthouse" status for advanced manufacturing in the sector. In 2023 it announced it would build a $3.2 billion factory in the same town for EV battery components.

Jeff Ferry The Coalition for a Prosperous America 5/ The story is reminiscent, at a smaller scale, of what happened in the 1980s with the Japanese auto import quotas. As the American Compass case study showed, evidence suggests there was a short-lived price increase and then massive economic benefits. americancompass.org/the-import-quo…

Jeff Ferry The Coalition for a Prosperous America American Compass 6/6 I wonder why economists singing the praises of free trade tell everyone to ignore the short-term factory closures and focus on long-run efficiency, but then turn around and try to make the case against tariffs with the shortest-term static analyses? Strangely unscientific!

Hey Justin Wolfers, why are you only showing a chart with just a few months of data? As CPA Chief Economist Jeff Ferry has documented, the full data shows that prices are now BELOW the pre-tariff level price. prosperousamerica.org/economic-view-…

WATCH: CPA Chief Economist Jeff Ferry joined NTD News to discuss dueling claims on the campaign trail from Donald J. Trump, Kamala Harris, & some economists on Trump’s proposed tariff on imported goods, contradicting many economists’ claims. 📺 tinyurl.com/3j5e2uws

Excellent thread on the success of the washing machine tariffs, especially given the misinformation posted by Justin Wolfers which included just a mere 4 months worth of data as Oren Cass pointed out.

🧵1/ Most economic "models" on tariffs are projections that assume consumers pay the full amount of the tariff. However, actual economic data has NEVER shown this. Instead, it's a negligible amount, as USITC research and Secretary Janet Yellen have documented. usatoday.com/story/money/pe…

2/ The tariff debate is severely misleading. Tax Foundation, Tax Policy Center, & Peterson Institute make rigid assumptions disconnected from economic reality. Per USA TODAY, these assumptions "aren’t based on good economics" & "would be an overestimation of the direct impact on consumers."

3/ The projections from these institutions are never compared with actual economic data. But the USITC did look at the real data. Here's what they found: - domestic production increased in all 12 industries studied - very small (3-4%) price increases prosperousamerica.org/usitc-report-s…

This #LaborDay, CPA celebrates our members, America's manufacturers and workers—the engines behind our Nation's prosperity, who are striving to build a better future for this generation and the next. 🇺🇸

NEW: VP Kamala Harris joins Donald J. Trump in opposition to Nippon Steel's pending purchase of U.S. Steel ➔ “U.S. Steel is a historic American company, and it is vital for our nation to maintain strong American steel companies.” tinyurl.com/3ay4cbfj

While solar tariffs would have a negligible impact on final installation prices and rate of deployment, they would provide a substantial and possibly life-saving boost to the American industry and domestic production of solar manufacturing equipment. 🔗 tinyurl.com/mr4cpw4k

Chinese fast-fashion giant SHEIN has a notable history of whitewashing negative press regarding environmental & labor abuses. Only this time, Shein is guilty by its own admissions. tinyurl.com/2bwnaprs

TEAM GAME: U.S. Commerce Dept.'s Secretary Gina Raimondo urged to impose anti-dumping and countervailing duties (AD/CVD) on Southeast Asian solar companies in a letter from the United @Steelworkers Union ⬇ “Our energy security must be rooted in American jobs.” tinyurl.com/y38wnxej

New U.S. FDA Warning Letter to Aurobindo's Eugia Pharma underscores a disturbing pattern of malfeasance by the Indian drugmaker. Aurobindo's violations of good manufacturing practices make America's medicine less safe & put patients at considerable risk. tinyurl.com/48e9d6b

TRADE DATA: The U.S. has a $677.2 Billion year-to-date goods deficit as of July. Assuming the U.S. produces monthly goods deficits of $90B for the remainder of the year, the country will end the year once again with a trillion dollar-plus deficit. 📈 tinyurl.com/bdhm6aku

Great to be in Jacksonville todayn at Wire Mesh Corp wi Aaron Bean The Coalition for a Prosperous America to talk about polices that will help American Manufacturers while boosting worker wages and opportunity. WMC has made serious investments in 🇺🇸 Manufacturing and their team should be proud.