No. of Recommendations: 11
Then...why did Biden collect almost double the tariff revenue that Trump did last time?
Because that's how time works? Trump imposed those tariffs a little past halfway in his term, and Biden just continued them. And was criticized by many of the same economists that are critical of Trump's policies as well, for the same reasons - because tariffs aren't free money, but have negative impacts on the economy.
The difference is one of scale - limited tariffs on one country in a few product segments (which both Trump and Biden implemented) cause a modest amount of harm. A global trade war across every product from every country on earth can tank your economy. Trump is doing this because he simply doesn't believe that there's a downside to tariffs. We're all about to experience how wrong he is.
