Ha Ha Ha

OK, so the United States possibly is getting a new 10% across-the-board global tariff, possibly on top of the existing tariffs (that the Supreme Court ruled as unconstitutional). Although it would appear useful to get a legal expert’s views on what the laws say about this, that assumes that laws actually matter in 2026.

An across-the-board tariff is bad for the price level in the United States, but it also eliminates the ability to make individual threats (that can be dealt with by bribes). About the only safe thing to say is that this increases planning uncertainty for businesses.

The only other concern I see is that this loss might increase the belligerence of the White House. A buildup against Iran is underway, and easily could go wrong.