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Happy Friday!
And thanks for tuning into another edition of the Economic Perspective! Hope everyone has had a great week so far and is looking forward to a fantastic weekend!
Tariffs are set to kick in next week, and new public polling shows that consumers are concerned about effects on future business conditions, future income and future employment prospects. Last minute wrangling over details may still result in deferred or diminished tariffs, but people and markets do not like uncertainty, and the uncertainty around how this will resolve is unsettling to all groups except those earning less than $15,000 a year, and those in the $100,000 - $125,000 range. Today, updated Inflation numbers will be released, and investors are watching closely.
The U.S. House of Representatives passed a budget resolution this week that calls for raising the nation's debt limit by $4 trillion, $4.5 trillion in tax cuts over the next decade, and an additional $2 trillion in spending cuts from yet unidentified sources. A bill will next have to be written to expand upon the resolution in order to pass the budget into law. The current short-term spending bill expires on March 14. Read more about the congressional budget resolution here.
In this edition, we bring you articles on cuts to the EPA, Oystering in Apalachicola, agricultural trade deficits for FY 2025, and more! Our data visualization for this week showcases extreme weather impacts on crops around the world!
Please feel free to forward this to anyone you think would be interested. If you’d like to view previous editions please click here, or to subscribe please click here!
In this edition, we bring you articles on the recent rollback of FEMA flood policies, layoffs in the National Park Service, improvements in remote sensing technology for agriculture, and more! Our data visualization for this week also showcases and interactable database on changes in U.S. Trade Policy, so check it out below!
Please feel free to forward this to anyone you think would be interested. If you’d like to view previous editions please click here, or to subscribe please click here!
Have a great weekend!
EPA Seeks to Reverse 2009 Endangerment Finding
The U.S. Environmental Protection Agency (EPA), under President Trump’s Administration, is seeking to reverse the 2009 decision (the endangerment finding) that planet-warming greenhouse gases that cause climate change endanger human health, despite new research and increasing frequent extreme weather events. Justification for doing so includes recently passed climate spending laws targeted at reducing greenhouse gas pollution. If the EPA reverses its finding, the agency will lose a key part of its legal justification for regulating carbon dioxide and other climate pollutants (such as for cars and trucks). This anticipated reversal is expected to draw legal challenges from environmental groups and Democratic-led states. AP News.
EPA Would Shrink to 1970 Staffing Levels Under Proposed Plan
The EPA will slash 65% of its workforce under plans its administrator, Lee Zeldin, has discussed with the White House. The remaining workforce would be on par with the size of the administration back in 1970 when it had significantly less laws they have to implement now. The White House has stated that they wish to cut the EPA’s budget from $9 billion to $3.2 billion, which would be the lowest budget in the entirety of the agency’s history. Former and current EPA administrators have spoken out against these cuts, arguing that such cuts would make the EPA ill-equipped to carry out its responsibilities and protecting Americans from pollution in air, water, and land. Read More here and here.
Scientists Find Largest Florida Panther on Record
In a routine population check at Babcock Ranch Preserve, FWC officials captured and tagged an all-time largest endangered Florida panther, weighing in at 166 pounds. After cornering the big cat in a tree, officials sedated and outfitted the panther with a GPS tracking collar for monitoring, as well as taking hair and blood samples for tracking species health. Researchers suspect the 10-year-old cat had grown to such a size after consistent feeding on feral hogs, a highly invasive species which panthers often prey on. Read more here.
Partial Opening of Apalachicola Bay to Wild Oyster Harvesting Possible Next Year
This week, the Florida Fish and Wildlife Conservation Commission (FWC) held a public meeting to discuss the possibility of reopening the Apalachicola Bay to wild oyster harvesting, in preparation for the expiration of the current five-year ban in January 2026. The oyster industry in the area collapsed in 2013, and despite the harvesting ban these past several years, FWC staff reported that there has been no significant recovery of oysters throughout the bay. The agency is nonetheless recommending partially opening the bay to wild oyster harvesting, and FWC plans to hold one of its next meetings in Apalachicola to better understand the local impacts of the industry collapse. Read more here and here.
U.S. FY 2025 Record Agricultural Trade Deficit Outlook
In a recent report done by Ag Web, it highlights that U.S. agricultural export value in fiscal year (FY) 2025 is projected at $170.5 billion. This is up $500 million from the November outlook and is due to grain and feed exports offsetting reductions to the oilseed outlook. The agricultural imports in FY 2025 are projected at $219.5 billion (up $4 billion from the November projection), leaving the U.S. with a record agricultural trade deficit of up to $49 billion. This would be up 54% from the deficit in FY 2024. Read more on the story here and here.
Irreplaceable Saline Lakes Supported by an Innovative Program
The U.S. Geological Survey developed an innovative program called “The Saline Lakes Ecosystem Integrated Water Availability Assessment Program” with the power to reshape the future of saline lakes. This program aims to assess and monitor saline lake ecosystems and the birds that rely on them. These lakes are known to be the most vulnerable ecosystems in North America, affecting mostly birds. The habitats that depend on these lakes face ongoing challenges posed by decreasing water availability due to climate change and increasing human demands. Read more here.
Data Visualization of the Week
How Extreme Weather is Harming Crops Around the World
All around the world there are extreme weather events that have led to destroyed crops. These events include droughts, floods, extreme cold and heat, wildfires, and others. While events like this have always existed the frequency of occurrence, and how many areas are getting effected keeps increasing each year due to climate change. The crops most impacted by these events are cereals and grains, followed by fruit, and vegetables. Livestock is also not immune, as Mongolia experienced an extreme dzud winter event more than seven million animals died. This was more than 10% of the country’s livestock holdings. You can read more about these events and look at how this data is mapped out at here.
Click the visual below for more information.
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