Source: Eunomia
by Daniel Larison
“Trump’s massive escalation of his trade war was far worse than expected. … Many news reports have referred to these tariffs as reciprocal because that is what the administration calls them, but there is nothing reciprocal about any of this. The countries targeted with significantly higher tariffs have generally low tariffs on American goods. Trump’s trade war is as far from tariff reciprocity as it is possible to get. The president has arbitrarily imposed one of the largest tax increases in American history. As Americans realize what he has done and how much it is costing them, the political backlash will likely be severe. If there is any good news in all of this insanity, it is that Trump has probably destroyed his presidency in just the first three months of the new term.” (04/03/25)
https://daniellarison.substack.com/p/an-economic-war-based-on-lies