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Jason Furman
@jasonfurman
Earlier this week I wrote a
@nytopinion
about the tariffs. The only item that aged badly: “the tariff increases in the first 4 months of his latest trade war are likely to be five to 10 times as large as those he imposed in the 4 years of his first term.” It’s more like 15X.
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David Watson 🥑
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david lilienfeld
@lilienfeld1
You need to remember this is the guy who went broke 3x running casinos--where the odds favor the house. It takes a special lack of understanding of economics to do that.
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dg 🔱
@dlgENERGY
I dont see how this move doesn't largely just eliminate most tariffs (based on trade). Other issues (high tech, drugs, etc. are another story).
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jon kessler
@jonkessler20
For perspective, US tariffs ranged from 15% to 50% in the 19th century. The US economy became #1 in 1890. The range chosen & Smoot-Hawley reference are intended to mislead rather than illuminate. The erroneous point is that 20% tariffs are synonymous with economic depression.
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George Kenney
@KenneyGeorge
If/when the dollar gets dumped as the international reserve currency the costs to the US will be orders of magnitude higher.
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