But another explanation for the ever expanding accusations of racism is that the left (and it almost always is the left that makes such accusations) is trying to change the sense of “racism” to connote something like “a policy position that opposes progressivism.” We live in turbulent times and social upheaval has distorted settled meanings of words before.
Richard Epstein warns us to beware of populist use of antitrust . (HT Bob Hessen) (I go even further: I believe that antitrust even in the hands of well-meaning and non-populist bureaucrats, judges, and juries is anti-competitive .)
Ultimately, a tit-for-tat approach to tariffs threatens to blow up the postwar trading system that prevents countries from discriminating against U.S. exports and keeps the general level of trade barriers low around the world. That system requires that tariffs be applied on an “unconditional most favored nation” (MFN) basis, which means that import duties must be applied in a uniform and nondiscriminatory manner. President Trump’s reciprocal tariff approach would invite retaliation, exposing U.S. exporters to higher and discriminatory tariffs, and undoing decades of multilateral negotiations to lower duties worldwide.