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Ignore the AI Hysteria – WSJ

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Ignore the AI Hysteria – WSJ

Reality will be a third scenario: paced obsolescence and growth. Productivity is always positive for society, but it doesn’t change things overnight. Like the concept of creative destruction introduced by Joseph Schumpeter, new technology starts at the high end, where it is economically feasible (AI for coding and customer service today) and then works its way down over decades, seeping into the economy sector by sector. But this time it’s different, we hear. Yeah, right

Why Tariffs Aren’t Shrinking the U.S. Trade Deficit – WSJ

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Why Tariffs Aren’t Shrinking the U.S. Trade Deficit – WSJ

On the contrary, recent data show the tariffs that the Supreme Court struck down on Friday and that Trump has vowed to reimpose under a different statute are cementing these imbalances.

From Berlin to Tokyo, the world’s biggest exporting countries have reacted to U.S. tariffs by further committing to economic policies that support exports, subsidizing manufacturers to help them leap over the tariff wall.

As for America, it very much remains the world’s importer of last resort. The U.S. trade deficit in goods rose to a record high of $1.24 trillion in 2025, driven by a 4.3% increase in goods imports, according to data published Thursday by the Census Bureau.