The implications of Dr. Wilson's research are profound and far-reaching. If the trend of escalating tariffs continues unchecked, the United States risks losing its competitive position in the global economy. Foreign competitors, unencumbered by such protectionist measures, will have a significant advantage in terms of pricing and market access, putting American companies at a distinct disadvantage.WASHINGTON — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site, Trump railed against an influx of illegal migrants, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place "until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!" The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump's latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. "Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer." High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump's tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump's US-Mexico-Canada trade agreement. Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai's Fudan University, concluded in a study that Trump's tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America's farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. "I can do it with a phone call,'' he said at an August rally in North Carolina. If another country tries to start a war, he said he'd issue a threat: "We're going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, 'Sir, we won't go to war.' " Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump's tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump's trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump's tariffs failed to restore jobs to the American heartland. The tariffs "neither raised nor lowered U.S. employment'' where they were supposed to protect jobs, the study found. Despite Trump's 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had "negative employment impacts,'' especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump's trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.
"The Analects," also known as "Lunyu," is a collection of sayings and ideas attributed to the Chinese philosopher Confucius and his disciples. It is one of the most important texts in Chinese philosophy and has had a profound influence on Chinese culture and society for centuries. However, due to its age and the fragility of the original manuscripts, there is a pressing need to accurately compile, organize, and digitize the text to ensure its preservation for future generations.Amid shifting political tides, Mayor Adams leaves door open to becoming a RepublicanGao treats a tourist at the Beidahu Ski Resort on Dec 2, 2024. – Xinhua photo CHANGCHUN (Dec 14): With ginseng, wolfberry, tangerine peel, and some other traditional Chinese medicines added inside, the aroma of ginseng tea fills the ski gear hall at a ski resort in the Changbai Mountain area. This winter, ski enthusiasts can sip free ginseng tea while warming up indoors in the Ice and Snow Economic High-quality Development Experimental Zone in Jilin City, northeast China’s Jilin Province. Since the beginning of the 2024/25 snow season, two of the biggest ski resorts in Jilin, Beidahu and Songhua Lake, have welcomed a growing number of visitors. According to Huabei, an app for ski enthusiasts, the two ski resorts both rank among the top tier in China in skiing mileage. Apart from ginseng tea, ski lovers can find more scenarios where the ice-and-snow economy embraces Chinese cultural elements this snow season. “Besides offering free ginseng tea, we have also established traditional Chinese medicine health care centers at the ski resorts so that ski enthusiasts can experience traditional Chinese medical therapies,” said Gao Yu, a doctor at Jilin City Traditional Chinese Medicine Hospital. Peking Opera culture is another highlight of the new snow season. Jilin City, as a renowned destination for skiing and seeing stunning rime ice scenery, also boasts a rich Peking Opera heritage. This snow season, brilliant Peking Opera performances have been staged at various ski resorts, bringing tourists’ ice-and-snow tourism experience to another level. At Vanke Songhua Lake Resort, 20 ski enthusiasts dressed in Peking Opera and Sichuan Opera costumes skied down from the mountaintop, attracting cheers and applause from the crowd. Zhao Lanju, general manager of Vanke Songhua Lake Resort, said that the resort is one of the first places in China where people can experience skiing in themed costumes, and more and more ski enthusiasts are willing to participate in these activities with Chinese-style elements. A skiing show that features actors dressed in Chinese-style costumes is staged at Vanke Songhua Lake Resort. – Xinhua photo The high popularity of winter sports and ice-and-snow tourism also creates a broader stage for China-chic trends. According to Ctrip, an online travel service provider, ice-and-snow tourism bookings have continued to rise since mid-November. “Since the start of the new snow season, the number of tourists visiting the resort has increased by 30 per cent year-on-year. “The resort is expected to go into the peak season around mid-December, with an average daily reception of more than 10,000 people,” said Yan Shuai, marketing director of Beidahu Ski Resort. Li Du, deputy director of the management committee of Jilin City Ice and Snow Economic High-quality Development Experimental Zone, said that culture has played an important role in the ice-and-snow economy, facilitating the full-chain development of winter sports, tourism, and equipment manufacturing. This winter, tourists can have a lot to expect from their visit to Jilin Province, with winter fishing on the frozen Chagan Lake in west Jilin becoming a must-see. In Changchun, the provincial capital, tourists can see exquisite ice sculptures featuring snake elements. Meanwhile, in the Changbai Mountain area, efforts have also been made to promote the integration between tourism and culture. Ginseng tea is welcomed by ski enthusiasts in the Beidahu Ski Resort in north China’s Jilin Province, a global hub for ginseng production. – Xinhua photo These days, the skis jointly launched by the domestic ski gear brand Overide and a domestic video game IP have sold out at Overide’s Beidahu Ski Resort store. Jia Xiaona, the store’s manager, said that domestic brands have become increasingly popular among the public, especially the younger generation. “Many domestic brands focus on improving cost-efficiency and incorporating Chinese-style elements into their product designs, which leads them to more promising market prospects,” said Jia. – Xinhua
However, as Inter Milan set their sights on the Dutch defender, another player has emerged as a top contender to fill the void left by his potential arrival. Achterbie, a versatile defensive player known for his tenacity, versatility, and leadership qualities, has been hailed as the perfect alternative should the pursuit of the Dutch defender falter. With Achterbie's contract situation at his current club uncertain, Inter Milan are ready to pounce and secure his services to add depth and quality to their defensive ranks.Justin Schultz announced that he would retire immediately, effective Friday morning, for personal reasons. Schultz is a 34-year-old defenseman who played in 745 career games with 324 points (71 G, 253 A). Most recently, Schultz played for the Seattle Kraken , joining the team in 2022. He played in 143 games for the Kraken, scoring 60 points during his time with the team. Following the 2023-24 season, Schultz was an unrestricted free agent. He stated he sought a “unique opportunity in the later stages of his career” before signing with HC Lugano . He played in eight games with six assists for the team. My choice is strictly a personal one. I discussed this with my family and concluded that I should end my career here and return to Canada. I’m thankful to HC Lugano for their professionalism and respecting my choice, and I wish the club and the team to succeed again. Schultz was drafted in the second round, 43rd overall, by the Anaheim Ducks in the 2008 NHL Draft . Following his draft, Schultz continued playing with the University of Wisconsin. After becoming a free agent following his college career, Schultz signed with the Edmonton Oilers during the 2012-13 season. He went on to play in 248 games over four seasons for the Oilers with 101 points. Schultz was traded to the Pittsburgh Penguins in February of 2016 and was with them for five seasons. During this time, he scored 113 points over 234 games. In 2016, Schultz played in 15 Stanley Cup Playoff games, including all six of the Finals, to help Pittsburgh win the Stanley Cup. During the 2016-17 season, he scored 13 points over 21 playoff games, helping the Penguins win a second championship. Schultz also played for the Washington Capitals for two seasons, with 50 points over 120 games before signing with the Seattle Kraken. Congratulations and best of luck, Schultz! This article first appeared on Inside The Rink and was syndicated with permission.
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As the sun sets on this incredible chapter in Emily's life, a sense of peace descends upon her. For out of the darkness of the wilderness, she emerged stronger, wiser, and more connected to the world around her than ever before. And in that realization, she finds the true meaning of survival – not just to endure, but to thrive against all odds.Klopp's influence on the team was evident in every aspect of their performance. His passion, energy, and tactical acumen have transformed Liverpool into a formidable force in world football. The unity and spirit within the squad are a testament to his leadership, inspiring the players to push themselves to new heights.