From The New York Times:
“Former President Donald J. Trump is planning an aggressive expansion of his first-term efforts to upend America’s trade policies if he returns to power in 2025 — including imposing a new tax on “most imported goods” that would risk alienating allies and igniting a global trade war.”
The Former Guy is such a successful businessperson, and so rich, we should probably just trust that he knows what he’s doing.
The New York Times has the temerity to disagree with my assessment. They write:
“Evaluating the merits of Mr. Trump’s trade vision is complex because there could be multiple ripple effects, and he is seeking long-term changes. But many economic studies concluded that the tariffs he imposed as president cost American society more than the benefits they produced.
Research from economists at the Federal Reserve and the University of Chicago found that tariffs Mr. Trump imposed on washing machines in 2018 created about 1,800 jobs while raising the median prices consumers paid for new washers and dryers by $86 and $92 per unit. That spending added up to about $817,000 per job.”
Wait a minute. If the Former Guy is mistaken about tariffs, what else might he be getting wrong?
