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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
AI and the Future of Society and Economy
Large language and generative AI models like ChatGPT are the equivalent of the first automobiles: fun to play with, somewhat unreliable, and maybe a little dangerous. But over time, the lesson for will be clear: Who Learns Fastest, Wins.
Automated Detection of Emotion in Central Bank Communication: A Warning
Can LLMs help us better understand the role of emotion in central bank communication?
How We Built the Arsenal of Democracy
By unleashing the energy, creativity, and drive of the private sector to rebuild our defense-industrial base, we can trigger a tech-industrial revival of the American economy.
The $130 Billion Train That Couldn’t
California’s High Speed Rail is only the latest blue-state infrastructure failure.
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Slowly Strangling the Pharmaceutical Industry
Unlike many private uses of monopoly power, a government monopoly, backed by state force, can last a long time.
The Hidden Cost of Federal Deficit Spending
We face a much more troubling debt problem than we’ve ever experienced in American history, and addressing it can only be achieved with significant entitlement program reform.
