Lori Wallach

YouTube video by Rethink Trade Trump, Tariffs & the Supreme Court: What’s at Stake on Nov 4?

OUT NOW: Trump may do what no sitting president ever has: attend Supreme Court arguments in November — about his own power.

@wallachlori.bsky.social explain why it matters: youtube.com/shorts/vGCWI...

Read this! Not as an interesting, well-written story of a guy's awakening, but because its about actionable causes of our current political-economic-social crisis that unite most Americans in anger, which of course is foundational to organizing our way out of our current shit show!

Follow @rushdoshi.bsky.social for deets🦉

A photo taken inside an ornate government building with marble walls and gold trim. In the foreground is a podium bearing the seal of the U.S. Department of the Treasury, flanked by several American and Treasury flags. To the right, a large screen shows Treasury Secretary Scott Bessent speaking at an event. The tweet above the image quotes reporter Jennifer Jacobs describing Bessent’s remarks about senior Chinese trade negotiator Li Chenggang, whom Bessent reportedly called “unhinged.”

Re: rare earth minerals -

Not yet clear how this episode plays out but decades of over reliance by past US GOP & Dem presidents & other nations on China for especially processing of rare earths/magnet making & related technologies & expertise means China now has monopoly power.

In case you missed it:

With no official policy document released, there’s still a lot we don’t know about Trump’s proposed pharmaceutical tariffs. But @wallachlori.bsky.social cexplains why generic drug supply chains matter—and what real solutions would look like.

🧵👇
bsky.app/profile/wall...

ICYMI:

Trump's pharma tariffs arrive by way of Truth, offering 'relief' to many large drugmakers: analyst The biopharma industry has spent much of this year grappling with fast-moving changes related to the Trump administration's trade policies. On Thursday, without warning, came another jolt. | The 100% ...

Sorry, can't do my usual "translation" of what Trump's latest tariffs mean. There is no Executive Order, Section 232 determination or other official policy doc. Just Truth Social posts. BUT, to make us less reliant on imported medicine, the generics...🧵

some plants here, so may be excluded anyway, is not going to fix a real problem. The Big Pharma monoplists seem happy about this move. But US national security & public health won't be helped unless the actual policy is VERY different fr how Trump's social post described it 6/6

generic meds, for instance by closing various loopholes created by regulation, trade agreements and the Acetris Fed Circ Crt ruling that mean the HUGR govt meds buyers and drug prohrams are not preferencing domestic meds. Just targeting the brand name meds, most of whom have 5/

break up the power of a few HUGE Pharmacy Benefit Managers, Group Purchasing Organizations and wholesalers who rejected US generic makers to maximize their profits by buying from plants overseas with poverty wages that dump pollution and policies to generate demand for US-made 4/

categories and also diversify our import sources. It's like we learned nothing from COVID, when basic diuretcis, antibiotics and other meds went direly short. AND, while tariffs can be part of a plan, first incentive st oinvest in domestic production, anti-monoply policy to 3/

excluded from new 100% tariffs on imported meds would be covered. Almost ALL of our generic meds, which represent a LOT of what we use, are imported and mainly from India and mainly made with ingrediants from China. We need to domestically produce more generic meds in numrous /2

Trump's pharma tariffs arrive by way of Truth, offering 'relief' to many large drugmakers: analyst The biopharma industry has spent much of this year grappling with fast-moving changes related to the Trump administration's trade policies. On Thursday, without warning, came another jolt. | The 100% ...

Sorry, can't do my usual "translation" of what Trump's latest tariffs mean. There is no Executive Order, Section 232 determination or other official policy doc. Just Truth Social posts. BUT, to make us less reliant on imported medicine, the generics...🧵

The US Supreme Court has granted a speedy review of Trump's authority to do some of the broadest tariffs. Oral arguments early Nov! Here's my quick take on some things to know about this case that has big implications for trade policy & for the parameters of presidential power.

America’s job market flashes yet another warning sign about the economy | CNN Business The US economy added just 22,000 jobs in August and the unemployment rate rose to 4.3%, the highest since 2021.

🚨This month's job report is a stark warning: The Trump/GOP tariffs and tax policy continue to cause chaos, drive up costs, and lead to massive job loss. 78,000 job losses in manufacturing alone since January!

Our analysis of Q1-2 25 found EVERY manufacturing indicator was down & significant increase in the US trade deficit compared to 1st six months of 2024. Tariffs can be an effective tools but Trump is committing tariff malpractise- on/off, wrong targets, etc

t.co/maznViMJJE

Read our manufacturing report. We discuss it here: rethinktrade.org/trumptradema...

Rethink Trade's Lori Wallach appeared on Fox affiliates across the country to discuss the significance of the de minimis loophole closure. Watch NOW. Rethink Trade's Lori Wallach Appears on Fox Affiliates to Discuss De Minimis Loophole Closure

ICYMI: Rethink Trade's @wallachlori.bsky.social appeared on Fox affiliates across the country to discuss just what the closure of the #deminimis loophole means for you:

www.youtube.com/watch?v=wr0n...

6) The bottomline is the appeals court supported the general notion that THESE Trump tariffs aren't allowed under IEEPA tho a majority of the Fed. Circ. wasn't convinced IEEPA never allows tariffs... However, the tariffs stay for now until the Sup Crt decides what to do. 10/10

5) The majority remanded back to CIT how to deal w/ the scope of relief given the Sup Crt recently issued a ruling limiting national-scope injunctions. ie. should tariffs be lifted for just certain plaintiffs or all commerce given the majority ruled IEEPA doesn't allow them 9/

4) As noted above, the majority supported part of the CIT rules and also VACATED part of it, ruling that the CIT "abused its discretion in vacating and permanently enjoining the operation of the Challenged Executive Orders" and noted a 4 factor test o decide injunctions. 8/

Even more curious, of the 4 judges who think Trump's tariffs are fine under IEEPA -- two were Obama and two were Bush I appintees. And, the dissent is as long as the majority opinions - 60 pages each. 7/

The 4 judges on the Fed Circ who think IEEPA doesn't allow ANY tariffs wrote an extra "concurring" opinion. This means they could not get the rest of the majority to join them... Even more notably: 4 judges issued a dissent ruling Trump's tariffs are fine under IEEPA 6/

...the main claim by the plaintiffs. As w/ the CIT, the Fed Circ dodged that, ruling only IEEPA doesn't allow a prez to do the expansive "reciprocol" & "fentanyl" tariffs that Trump set on most nations. Notably, 4 of the majority 7 ruled tariffs aren't allowed via IEEPA at all 5/

3) Of the 11 appeals judges hearing the case "en banc," the majority opinion affirming in part, vacating in part and remanding in part the CIT ruling was supported by 7 judges. This opinion does NOT rule that IEEPA can never be used by a president to impose tariffs which was...4/

2) Many people expected the Fed Circ would rule that Trump cannot use IEEPA to unilaterally impose/lift tariffs on all nations indefinately of varying/high rates… BUT the actual 127-page document from the court has some very surprising aspects: 3/

at least until mid-Oct. The ruling is stayed to allow the administration to decide whether to appeal to the Sup Court. AG Bondi said they are. When they file for certiori, the ruling will be stayed/tariffs stay until Sup Court decdes. Here's the ruling 2/ t.co/vNhc4zIcZq

ICYMI:

The Fed. Circ. Appeals court just ruled on Trump's tariff authority, affirming the Crt of Intl Trade that the Int'l Emergency Economic Power Act doesnt provide authority for the expansive "reciprocol" & "fentanyl" tariffs. But nuanced...6 key things: 1)The tariffs stay in place🧵

the most sophisticated logistics firms globally. Temu is now satisfying US orders w/ US-made goods. FedEx & UPS updated online to meet the new policy. Etc.
If termination of de minimis is properly implemented, the transition period will be shortish to a much better sitch! 11/11

...predicted by the express carriers and huge ecommerce monopolists whose exploitation of de minimis - by making something never intended to be a commercial shipping route into a huge scam - has flooded us with unsafe, forced-labor and other imports. These firms are among... 10/