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Congress Must Shield US Companies from European Regulations
Congress should exercise its constitutional powers over foreign commerce to guard American companies against overregulation by the European Union.
The Trump administration’s tariffs and the ensuing debates have diverted attention from the fact that regulating international trade is the role of Congress. After all, tariffs are taxes, and it’s a bedrock principle of U.S. law that taxation requires legislation.
The Framers made this point clear when they granted Congress the power to impose “imposts” and “duties” — meaning tariffs — to regulate external commerce.
Fortunately, Congress is starting to exercise its constitutional powers over foreign commerce again. On March 12, Sen. Bill Hagerty (R-Tenn.) — a former U.S. ambassador to Japan — introduced a bill to shield U.S. companies from the European Union’s Corporate Sustainability Due Diligence Directive, a regulation dating back to July 2024 that forces U.S. companies to audit their entire supply chains and disclose wide-ranging environmental, social, and governance or ESG metrics that exceed the requirements of U.S. law.
Economic Dynamism
The Causal Effect of News on Inflation Expectations
This paper studies the response of household inflation expectations to television news coverage of inflation.
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The Rise of Inflation Targeting
This paper discusses the interactions between politics and economic ideas leading to the adoption of inflation targeting in the United States.
Ignore 'Open Letters' From Economists
Don’t be swayed by “open” letters signed by well-known and well-respected scholars, experts, professors, and businessmen.
Demystifying the New Deal
Carola Binder reviews False Dawn: The New Deal and the Promise of Recovery, 1933–1947 by George Selgin
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Hydrocarbons Aren’t Disappearing
Credit ratings agencies remain enamored with the energy-transition myth — risking yet another green bubble for investors.
America's Litigation Addiction Threatens Its AI Leadership
Litigation is anything but efficient and, if state lawmakers proposing new AI liability schemes have their way, will increasingly involve disputes based on vague laws and open-ended theories of harm.
