Today in the newsletter: Fertilizer prices are crushing rural farmers. Also, attacks on Gulf state aluminum smelters leave America exposed.
Economic Policy
The Tariff Refund Nightmare
In principle, Americans are owed $166 billion in refunds of Trump’s illegal tariffs. But actually collecting is like unscrambling an egg.
Will Americans Keep Paying a ‘Tariff Tax’?
Companies are seeking refunds from the federal government following the Supreme Court ruling—but consumers may still be stuck with higher prices.
How Trump Undermines Trump
Consider the president’s self-defeating assault against Jerome Powell.
What, Exactly, Is a Fair Wage?
Arindrajit Dube brilliantly dissects how wages really are set—but overlooks the particular hurdles that care workers face.
Live Nation Verdict Serves as a Warning
Companies thought they could get away with anything while Donald Trump was in office. But today they have a new problem: state attorneys general, and juries full of ordinary Americans.
On Tax Day, Mamdani Taxed the Rich
The mayor, his supporters, and public opinion convinced their previously reluctant governor to agree to a tax on the second (or third, fourth, fifth, etc.) homes of their city’s nonresident rich.
Out of the Chaos, a Green Future?
Today on Aftermath: How the war in Iran may lead to a boost in renewable energy
Aftermath: Plastics Clogged in the Persian Gulf
In today’s inaugural newsletter: plastic supply chains, sulfuric acid export bans, and the war drags on.

