Biden, Harris, Trump, Vance and the Dumbest Economic Idea – WSJ

We ll admit that the competition for the dumbest economic policy is fierce these days with prices controls on food, a 10% across-the-board tariff, and national rent control on the table. But opposition to the Nippon deal deserves careful consideration for this distinct dishonor given the deal s manifest benefits and nonexistent harm.

Ms. Harris is apparently undaunted by economic illiteracy, telling a Monday rally in Pittsburgh that U.S. Steel should remain American-owned and American-operated.

A politician with the U.S. national interest in mind would celebrate the Nippon Steel deal, which would boost U.S. manufacturing. The Japanese firm has promised to spend $2.7 billion refurbishing the Pittsburgh steel maker s aging plants. It has also agreed to honor U.S. Steel s collective-bargaining agreements with the United Steelworkers.

The union has nonetheless lobbied the Administration to block the deal because it prefers a takeover by Cleveland-Cliffs, a union shop like U.S. Steel. The union wants to create a domestic cartel shielded from competition by the Trump-Biden 25% steel tariffs.

via www.wsj.com

Yeah, those big tariffs are a reason not to like Trump or Vance. Of course, Biden Harris like them too because tariffs protect unions. In fact, they’re a win for everyone except the investors. Oh, and the consumers of course.