Section 122 of the Trade Act of 1974 is a U.S. trade law provision that gives the President temporary authority to address serious balance-of-payments deficits or significant declines in the value of the U.S. dollar. It is designed as a short-term economic safeguard tool, allowing the administration to respond quickly to international financial instability or trade imbalances.Unlike other trade enforcement mechanisms that target specific countries or unfair trade practices, Section 122 can be applied more broadly and is primarily focused on macroeconomic concerns rather than individual trade violations.
Thursday, February 26, 2026
Tariff and SOTU Update
Tuesday, February 24, 2026
Trumpety Bumpety
Trump got a rude awakening when the Supreme Court rule 6 to 3 against Trump trying to establish tariffs unilaterally, based on a 1970s law that allowed tariffs to be established by the executive branch for national security reasons. Chief Justice John Roberts gave Trump a chance to dial back the tariffs, but Trump apparently found a loophole to declare a comprehensive 10 percent tariff on all imported goods. Hours later, he increased it to 15 percent.
Whatever. I'm sick and tired of following Trump's import-tax antics.
Sunday, March 10, 2024
Take a Message to Congress
Thomas Jefferson, the third U.S. President, was known to be afflicted with a stammer and so feared public speaking that he became the first of 24 consecutive U.S. Presidents to deliver the annual presidential message to Congress - now known as the State of the Union address - as a printed text to the Capitol for a clerk to read. Given Joe Biden's own stammer - and given his lifelong ability to say the wrong thing at the wrong time - he could have easily revived the tradition that Jefferson began. In fact, many Democrats might have been more than happy with such a decision.
Monday, March 7, 2022
Biden's State Of the Union Address
Tuesday, March 1, 2022
The Last Time Ever I Saw Your Face . . .
But get ready to rejoice, my friends! Face coverings (FCs) appear to be on the way out, at least for a good long time before we have to deal with COVID again, in its current strain or in a future one.
With the seven-day average of new COVID cases having dropped to below 70,000 for the first time since October, and with hospitalizations down significantly, the Centers for Disease Control and Prevention says we don't have to wear FCs in areas where hospitalization rates are low or medium - about 70 percent of counties, districts (Alaska) and parishes (Louisiana) in the United States. Most of the 30 percent of the counties, districts and parishes with high hospitalization rates are in - you guessed it - the South and West.





