Post #43275 by albaby1 on the US Policy board

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You'd think some of the financial geniuses on team Trump would put a stop to this madness. Are they all really too afraid to disagree with Trump? Surely, all the oligarchs must know that these tariffs will not be any good for their bottom line either, right?

Trump thinks trade deficits are bad. Bad enough that damaging the economy will be worthwhile....because then we won't have trade deficits:

“This is not serious trade policy or grand strategy,” said [economic historian Adam] Tooze. “The boss hates trade deficits and his team of willing sycophants came up with a formula, however idiotic, that ticked the box.”

https://archive.ph/vXoyg#selection-1723.0-1723.194

If that means saddling American households with a loss of $3-4K in purchasing power, slowing economic growth, possibly triggering a global recession, and obliterating companies like Nike as a going concern....well, who cares? Surely GM hiring an extra shift or two at one of their existing plants will make up for that...

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