I think for the 4th time now you place tariffs on China or selectively place tariffs on industries/products to discourage domestic consumption (145% is retarded, even Trump said so) but you first need to bolster private and government spending for domestic production (we are doing the opposite of this step; production is leaving and we're providing no incentive for investment). Decrease military spending (again, we're doing the opposite) and increase domestic production (grants, loans, however). It's illogical to place the burden of tariffs on consumers when they have no domestic alternative. A great example is the EV market. That's a good tariff policy no one will complain about (unless they want those dirt cheap Chinese cars).
Remove the new tariffs on everyone else first. It's moronic to tariff the entire world at once as they will seek separate trade deals. You're already seeing this (called 'diversion').
The only reprieve we've had was when the bond market started to tank as investors have lost faith in the US economy.
It's a soft science that's almost entirely theoretical but people definitely agree on end results, they don't agree on the fundamentals (we can all agree on the effect, but what was the cause?) Tariffs have a shaky history (McKinley's tariffs had positive results but again, our economy at the turn of the 20th century was exporting more than importing) and can work if they're targeted. My issues with Trump's tariff policy is how broad it is in nature. Unrelated but he wants a new Fed chair and lower interest rates, which is where stuff gets nasty as inflation kicks up and production goes down. We have one quarter of contraction which isn't great but not awful, even 2 in a row is ok but unless we have some kind of positive influence (new trade deals leading to relaxed or eliminated tariffs) the economy will flounder. Bessent is already signalling his disagreements with Trump policy and appears to be able to sway him. Let's hope that's true. He's correct in his summation that a long trade war with China isn't smart but you can weaken them selectively and strengthen trade with everyone else. This is a point of fundamental disagreement, though. International trade isn't evil and it isn't going anywhere, but we need to remember we haven't been the king of products in over 50 years but no one can touch us on services.
Without doxxing myself I don't know if I can but my work involves analytics of, mostly, domestic industry and procurement and allocation of (generally private) funding. I'm speaking, not as an expert on tariffs, but as someone with 2 decades experience in the world of corporate finance. Shit is very bleak in that world right now and I don't see a relief valve present as long as blanket tariffs continue.
We can get into the theory of tariffs if you'd like but I'd recommend reading on the beliefs of protectionists like McKinley vs Cleveland who opposed them (again, our situation is basically reversed now). That period, 1880s-90s, is about as concise as it can get on a micro scale.
