No. of Recommendations: 30
"Interesting tidbits:
"Treasury Secretary and economics professor Scott Bessent explained (1:04) in an interview that in trade wars, the surplus countries always be defeated, because the deficit country (here, the US) has the least to lose."
That is absurdly backwards.
The U.S. had the largest, most dynamic economy in the world. It attracted the brightest from around the world due to its dynamism. Having the dollar as the world's reserve currency gave the U.S. (and its citizens) untold advantages.
By having an unnecessary trade war, the U.S. is risking all of that.
The U.S. has the most to lose.
It is crazy to look at what the U.S. will gain or lose in a trade war only through the lens of trade deficits. Dumb.
