Extra, Extra
Welcome Splat: We’re landing many self-inflicted blows to the economy. I keep harping on one in particular because I think the problem will continue to grow. “The US economy is set to lose billions of dollars in revenue in 2025 from a pullback in foreign tourism and boycotts of American products, adding to a growing list of headwinds keeping recession risk elevated.” And from Quartz: Tourists are ditching America. “The biggest declines came from Western Europe, which registered a 17% year-over-year decrease in arrivals by plane. Luxembourg residents stayed away in droves, leading the way with a 44% decline. Denmark, Austria, and Iceland weren’t far behind.”
+ Back Burner: Meanwhile, Europeans who are required to come are taking new precautions usually reserved for their rivals. “The European Commission is issuing burner phones to officials traveling to the United States amid fears of espionage in Trump’s America.”
+ Magnetic Repulsion: “China’s decision to retaliate against President Trump’s sharp increase in tariffs by ordering restrictions on the exports of a wide range of critical minerals and magnets is a warning shot across the bow of American national security, industry and defense experts said.” NYT (Gift Article): China’s Halt of Critical Minerals Poses Risk for U.S. Military Programs. (Do we need better trade deals with China? Yes. But we needed a longterm strategy. Not whatever it is we’re seeing now.)
+ Tinder Box: “Two Belgian teenagers were charged Tuesday with wildlife piracy after they were found with thousands of ants packed in test tubes in what Kenyan authorities said was part of a trend in trafficking smaller and lesser known species.” Ants too small to concern you? Spanish police arrest two people linked to cat smuggling ring based in Mallorca.
+ Parent Company: “A young generation is taking a bigger interest in joining the family business, spurred by a cooling labor market that is making it more difficult to land entry-level jobs, economists and business analysts say. At the same time, their parents and grandparents—baby boomers and Gen Xers who own the vast majority of America’s businesses—are feeling more urgency about making succession plans as they look toward retirement.” WSJ (Gift Article): A Young Generation Goes to Work for Mom and Dad Inc.
