Executive Summary The Food and Drug Administration has authorized 26 nicotine pouch products. Hundreds more sell without clearance, so the legal market is a small fraction of the shelf. For most of those unauthorized products, illegal means the FDA never finished reviewing them. It does not mean the agency examined them and judged them dangerous. A dangerous product … Continue reading
Latest Entries
Hedging Their Bets, BRIC by BRIC: How Trump’s Tariffs Have Incentivized Diversification
Executive Summary Intra-BRICS trade was growing well before recent trade tensions, but U.S tariff escalations have accelerated efforts by BRICS+ members to diversify away from U.S.-centered trade. Trade among BRICS countries increased from $84 billion in 2003 to $1.17 trillion in 2024, at an annual rate of 13.3 percent—more than twice the pace of global … Continue reading
Why the Bourbon Industry Is Fighting the ‘Straight Bourbon’ Label Rules
Executive Summary The “straight bourbon” designation functions as a regulatory quality signal. It distinguishes longer-aged, more tightly regulated bourbon from standard bourbon, helping consumers interpret quality in a market where branding and age are central to purchasing decisions. Startup and aging requirements create significant barriers to entry.The combination of capital costs, mandatory multi-year aging, and … Continue reading
How Do Regulations Truly Affect the Airline Market?
Executive Summary Spirit Airlines recently shut down, prompting questioning of whether the airline market would benefit from greater government regulation. Airline regulations are often ineffective due to many factors unique to the market that are not always heavily weighted. Reversion to increased regulation could be harmful to consumers, leading to increased prices and reduced options. Introduction On May 2, 2026, Spirit Airlines declared that it … Continue reading
What Really Drove the M&A Rebound?
Executive Summary U.S. M&A transaction value rose roughly 50 percent year over year in 2025, with four mega-mergers above $40 billion versus none in 2024. This happened despite total deal count falling 4 percent. The surge was driven almost entirely by the top of the market: deals over $10 billion grew 120 percent, while those … Continue reading
Why Young Americans Must Turn from Government Intervention and Reform Entitlements
Executive Summary The national debt is fundamentally a generational issue; running large budget deficits to finance tax cuts or spending increases today places an undue burden on younger and future generations. By borrowing more today, policymakers are effectively promising higher taxes and lower spending on future taxpayers and government beneficiaries; at the very least, younger and future … Continue reading
“I Got a Rock”: Policy Gaps in American Critical Minerals Stockpiling
Executive Summary Throughout 2025 and 2026, China has leveraged its control over critical mineral supply chains, forcing the United States to the negotiating table; the resulting shortages caused disruptions in the production of goods from automobiles to computers. In February 2026, the Trump Administration inaugurated Project Vault, a critical minerals stockpiling program intended to reduce exposure to foreign-induced supply shocks through storing minerals for civilian use. Although Project Vault is … Continue reading
Wishing To Overhaul: American-Led WTO Reform Post-MC14
Executive Summary Last week, the World Trade Organization (WTO) concluded its 14th Ministerial Conference (MC14) to plan the institution’s agenda for the next two years. Reform was front-of-mind for all members, including the United States; its vision for the WTO focuses on constraining developing member privileges, ensuring leeway for security-based trade measures, and making member commitments more flexible in general, differing markedly from other proposals like that of … Continue reading
Pax Moo-ica: Supply Management and the USMCA
Executive Summary One of the United States’ main goals for the 2026 United States-Mexico-Canada Agreement (USMCA) review is to open the supply-managed Canadian dairy market. This has been a continuous objective of Washington’s for decades; since 2020, inroads have been achieved, but the scope of such market openings seems unlikely to change in the contemporary geopolitical situation. For these … Continue reading
Mercosur: An Integration Problem
Executive Summary Mercosur and the European Union have signed a sweeping free trade agreement twenty-six years in the making; that same month, Argentina signed its own bilateral trade deal with the United States. Despite the optimism surrounding the EU deal, Mercosur is still hamstrung by institutional limitations and diverging member interests, preventing further integration. Given this, U.S. trade policymakers are apt to treat Mercosur members as the individual … Continue reading
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